The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-11
ADVANCE PRICES
ON WAR REPORTS
Wheat Shows Great Strength,
but Stocks Weaken and
Sell Lower.

War news from the far East was the
controlling factor in the wheat pit yes
terday, and on the Tumors of battles
prices quickly advanced. The bulge was
We'll maintained until the last hour of
t1ade, when traders took profits. Then
there was slump, which was general in
All the grain markets. Corn was cratic
throughout the session, sharing in the
strength in wheat. Trade, however, was
dull after the first nOur. On the slump in
wheat near the close corn was forced
lower. The cash situation is strong. Oats
did not participate in the advance in corn
and wheat. Trade was dull and inactive
during the session. The cash situation
remains strong.
In the early trading yesterday stocks
were strong, but before an hour of the
session had passed traders began to take
profits. which caused slump in prices.
All support disappeared after the noon
hour and the entire list sold down.
What the Brokers Say
M. Doran &, Co.'S Chicago grain letter
says:
Wheat-Wheat was the sensation Of the
day., getting a great deal of action on
small amount of news. The advance was
rapid and surprisingly well maintained,
until near the close, when prices weak
ened somewhat. The May was easily
worked up on a small amount of buying
as offerings were light and stop orders
were encountered. July was bought by
the Southwestern houses and by commits
sion houses In general This latter is
undoubtedly public buying inspired by
Asiatic war. The news was rather meager
in volume. Outside markets We're all
strong, particularly st. Louis. and cash
NaIueS at Northwestern points advanced.
Corn-Corn Was very cratic at the
start. fluctuating quickly over a wide
range During the bulk of the session the
tone was dull, but prices were rather
firm on strength in wheat, but participat-
ed In the general slump near the close
The cash markets were a bull help, the
low grades being 1c to &c higher and the
good qualities lie up. The LIVERPOOL mar
ket closed 1B@Hd higher
Oats-Oats dragged throughout the ses-
sion and appeared to be under pressure
on account of realizing. The strength in
other pits was ignored. The cash market
was strong and fully &c higher, and the
shipping business brisk
j. c. Geraghty & Co.'S CORRESPONDENTS
say of stocks:
Dick Bros.-Stocks were strong again
IN the early trading, but from the first
there were indications that TUESDAYS
sellers We're taking profits. In the after
noon support disappeared, and on renewed
pressure stocks sold off sharply Before
the close many stocks reached or went
DeloW tuesdays low figures. The close
showed no rallying power The failure
or large house in Bremen had great
influence abroad. Further failures NAV
be announced Thursday.
Bache q Co.-The opening here re-
sponded to a slightly better feeling abroad
The market closed weak and unsettled
Walker notwithstanding the
mixed London quotations, the market
opened strong and active, with general
advances in B. R. T.. Amalgamated Steel
preferred and the Union Pacific as leaders
1t appeared later, however, that the adj
vances may have been largely due to
short covering, as shortly after the open
ing the trading became listless and the
genei-Sl Stagnatlon prevailed. The shorts
apparently having covered, sharp selling
begun again in the afternoon, and a gem
eral procession took place led by Steel
preferred, which showed none of its for
mer strength. Prices tunbIed ranidIv
without any notable support and the close
was heavy at about the lowest of the day