The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-08
What the Brokers Say
Doran d d. s. - Ietter:


What the Brokers Say
lI Doran & Cos grain letter:
Thea-There was continuance OF ex-
Derieuce OF past lew days IN the wheat
pit. The market ruled weak till latter
part, OF TIE session. when covering by
shorts to even up over the TWO holidays
Drought about fair reaction Prices
early slipped on as easily as they ad-
vanced on rust scare. Weakness IN 1l-
uure market Is curtailiug milling demand
I'M all directions. The cash situation con-
seQueurly looks much less bulllsh. DuI,
while premiums nave been reduced caSn
values are sIill over the options. Weather
continues very favorable Tor unresAlns
and FOR movement in the Northwest ana
stocks at Minneapolis ana Dufuln IN
creased the past week nearly z-900, UbB On,
which Is considerable IN excess or increase
Tor the same period a year ago Ihere
was downward trend noticeable IN ca
lles. Liverpool closing Is a sed lower ana
EarlS lItl1tc lower Estimated receipts
r1ulorT0W- rs cars
C0ru-The trade increases with the de-
cline. The market today was weak ana
the only buying seemed to come from
SHORTS. no one as Vet caring 10 20 long
The faCr is there is still little incentive
30 do so. Holdings are by no means
liQuidaCed- The weight OF selling agalIsL
increased offerings OF new corn IS pc
coming more and more burdensOme ana
there Isl no demand 10 cCuuIeEacL It. d.
though several loads worked Tor export
Irou seabOard. on break Generally speak
ing bids are sIIII q long way OuL OF me
It seems probable this market viii con-
Llnue % decline TIL pr1ceS. reach a point
where foreigner IS willing TO Duy Ireeiy-
Liverpool was 5ad lower at close EsE1-
mated receipts - cars
laJS-Ljn the whole oats were arnl, de-
Ginning but fracIi0uallV with the weakness
ia other cereals. Provision operators
bought freely OF May all day. Estimated
receipts go cars
r8visions-The market was shade
lower all around with periods OF excellent
luylug OF lard By packing interests con-
splcuuus on bull side Estimated hogs TO-
d O. Geraghty & Co.'S New York adj
vices.
LOGAN & Brvan-There Is only fair
activity in the market TO-DAY. but the tone
continues strong. The average Tor the
list is again fracUl0nallv higher The
dominant feature IS. as heretofore lack
ing IN offerings Ihere IS noInlng N the
Immediate situation ana nothing SO IaG
as We can see IN the tendency or the III
rure to unsetIie the confidence OF holders
Of stocks Rates Tor money are likely
TO work q HUUte higher perhaps, but the
situation is unusually easy Tor THIS season
and low rates are again likely at some
.ILTl6 distance N the IuIuEe- STOCKS are
not high and the dividend payers still
present many attractive Inducements The
aEpaudIng tendency OF general business
promise increased earnings for ali the
properties ana II IS pretty certain LIldl
aEpec1a lions OF increased dividends ana
lE dlFlQEnQS on STOCKS where earnings are
alTeadv near the dividend point viii OBJ
-ziu- We may get reactions. but we fear
aIav Will be unImpOrtanI- Think Stocks
are sail a purchase
JC0nuor d Van BeTgens stock letters:
Nobody paid any attention TO the heavy
loss OF cash on the weeks currency move
uleut- Tine bank statement does not IN
fact enter into the market calculations
eC present The more so as the banks
themselves ara encouraging the Dull spec
uiatiOu Dy an unlimited supply or call
and time money keech. LOe7y x Co. who
are supposed TO 90 good deal OF First
National bank business were good buyers
of Reading. Active houses Ike Dick
l5ros. advanced Sugar without much diff
1Cultv Lower Wall street Is not doing
much at present. but the tone seems 10
le buliish.
The market was Irregular today at a
generally higher level, but the volume OF
business was smaller ana there was
lack OF snap on the rallies which 1nd1-
Gated the distribution OF stocks at ad-
-auces continues. In view OF yesterday s
heavy closing there were I6W stocks Ot1eT-
ing rhis morning ana The strength IN
Reading was a stimulating influence which
led TO repurchaSes by sellers OF laIe fpr
both accounts. Frequent rallies and re-
actions occurred with nuai dealings on a
decline and am unsettled tone. Indica-
riQus of an unfavOTabie -h8nk statement
r0mUTOW were of some influence on the
lare selling.