The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-28
WHEAT is STRONG
ON BULL REPORTS
Government Weekly Bulletin
Causes an Advance I'm
Price of Grain.

The following grain and stock letters
were wired yesterday to St Paul brokers
by their New York and Chicago CORE
spOndents:
NJ Doran & Co.'S Chicago grain letter
says:
Wheat-Wheat developed into strong
market after some uncertainty early.
There was a slump towards close on local
selling. The government weekly crop bull
1etin was bulliSh on winter wheat cOTdi-
ton IN Ohio valley and on slow progress
OF seeding in the northern section Of the
spring wheat belt, but reports improved
condition in Kansas and Oklahoma. This
with the feeling that some reaction was
due after long decline changed sentiment to
moderately buIllsh. The good export
trade Tuesday and domestic sales early
IN week were still fresh in traders minds
Flour demand is better and prices are 10c
higher Receipts were unusually small
totalling but $4,000 bu at all primary
points We think old and new July should
De bought on receSSiOnS.
Corn-COrn was strong for the most
part. with July shorts active buyers in
q market rather bare Of offerings at the
outset. Armour bought May and Septer-
Der moderately, and is believed 10 have
sold July The months decline appears
10 have brought prices TO neighbOThOod
OF legitimate basis Mixing houses are
not turning out contract corn in GUAM
THY and demand IS gradually picking Up.
Liverpool reports better demand there
ana that market took some corn.
O2tS-O6tS were very strong. with an
active trade in MAY. which was M 2as
at one time Shorts bought a little and
covered. The motive was the movement
OF standard oats from store and the evil
dence Of increased demand. The late
opening OF navigation and the unsettled
Ia Dor situation on the lake boats promises
10 nave the effect Of turning inquiry from
the East 70 this market as our oats are
more available for shipment than those
a. northwestern points Stocks here are
large, especially OF standard quality, but
receipts are small and a rapid decrease is
likely. II this is realized the effect Will
be particularly noticeable on May.
says:
Sentiment was favorabIv affected BY
the satisfactory arrangements made TO
settle the Panama payment without dis
tuTbing the money markets Although
there was no very great activity, traders
were impressed with the absence Of any
pressure Ltisl % sen especially the steel
STOCKS which have been a bear target
Tor the past several days. Strength in
cOaIeTS was due to the almost Dhen0I1anaI
exhibit made by the IsackaWauna- for M
year 1903, showing $4,000. 900 net after
deductIng all charges and also a liberal
allowance OF $1,000 900 for bpJtermentS
equals about 80 per cent earned on its
capital stock. Traders bid up Ontario &
Western on possibility of voting trust
beng dissolved The announcement of
Mr. Harriman's amended bill making
Northern Pacific party to suit has raised
the question as to the importance Of the
move The best information we can get
II IS not thought TO have much signifi-
canoe F1rmness Of general market late
in the day. created a more cheerful feel
ing. Nothing has occurred to change our
general impression Of the market. yet We
are inclined to believe stocks are being
held by strong interests and the next
pronounced turn VIII be for the better.
J. G. Geraghty & Co.'S correspondents
say Of stocks:
Logan Z Bryan-Sales to noon of. s.. 600
Shares tell the story Of the market There
was some activity in steel issues and in
consolidated Gas and in one or two OF the
higher priced rails. The rest Of the mar
ket IS dead. There is no gossip and no
interest Considering It all. the market
holds fairly well Outside Of this the
trading is entirely professional and fhe
market without tendency
walker Bros.-The market was steady
and inclined to be strong. There was lit
tie pressure to sch and this caused some
short covering. The high-priced Special
ties al advanced and the active railroads
all showed Improvement. In the after
noon there was further buying and prices
held the advance. The close was strong
with much better feeling and traders in
cIined to take the bull side