The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-13
WHEAT MARKET IS
EXTREMELY WEAK
Trade Remains in the Hands
of the Professional Pit
Operator.

The following grain and stock letters
were wired yesterday to st. Paul brokers
by their New York and Chicago CORE
spondents:
M. Doran & Co.'S Chicago grain letter
says.
Wheat-There was no strength nor snap
to the trade in the wheat pit and opera
tons We're confined to the local pit crowd
the public being apathetic. There was a
show of strength for a brief time early in
the session on a little covering by shorts
and on the relative strength shown by
the Northwestern markets. This latter
was taken to reflect scattered showers in
the spring wheat belt. The Price Current
had beaTish tone and the Northwest
Miller reports the -four trade duh in every
particular. The weather was favorable
over all the winter wheat belt. Forecast
Is for cloudy conditions, but no rain is eX-
pected in the Northwest.
COrn-The market was rather uneX-
pectedly strong. being for the most part
independent Of the course Of wheat. A
number OF larger floor operators and some
OF the provision people covered short lines
of July which gave the market it's initial
strength. The cash market ruled from
steady to 1ac higher with Armour & Co..
and sugar refinery the buyers of moderate
offerings. Country purchases through Ne
braSka were very much larger than has
been usual. The Illinois advices suggest
planting rapidly nearing completion, and
an increased movement is expected with
in two weeks.
Oats-The market was dun, but firm,
IeIaI1N6
strength. The volume of trade was small
compared with Wednesday. The lake sit
uation gave bulls some encouragement, as
did the light receipts and strength in
sample market. The Price Current report
was a favorable one.
O'COnnor & Van Bergen's correspond
ents says of stocks:
Watson & CO-The moderate increase
in activity noticeable Wednesday was not
much in evidence yesterday. The fact is
those who have been trying to force a
general decline with the steels as stand
ard bearers have failed to cause Hquida-
ton expected, and therefore have natural
ly gone a little slow. There is no doubt
the market is greatly OYeTSOld and a rally
Is therefore much overdue One weak fea-
tufS of situation is there is apparently no
support vet on the other hand there be
ing few offerings it may be thought IN
necessary at the moment to give support.
The Erie and Lake Shore statements were
amongst the bad features of the news.
which otherwise was of rather a mega
tive character, in that the developments
We're merely incidents in line with what
was already known. The heSitancy
abroad the past few days as to our Sc
CurltieS is not surprising in view of the
general peSstmiStic tone adopted by our
newspapers recently.
Van Emburg & Atterbury-The market
was more active at the expense of prices
This was due largely to continued weak
ness Of United States steel stocks, which
encouraged more active bear trading in
Others, causing some scattering liquida-
ton and later to the further large gold
shipments, which coming on a rather fiat
market led to renewed selling Of some
character. There were points of strength,
which were in line with the irregularity
which marks current dealings. ConsoH-
dated Gas in face of a vote was supported
and the shorts found difficulty in covering
New York Central was well bought and
copper held Wednesdays advance. The
closing prices were sharply above the
lowest in the more active stocks and the
* fa6lx o-in