The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-17
MARKET ACTIVE
]. i. AND CLOSES FIRM
Strength of tuesdays Closing
Is Maintained and Short Ac.
count Is Reduced.

The market opened strong with a
CONTINUATION Of the upward moveme ea1a
started Tuesday LONDON ao5 followed 6ne
for Americans higher than the close
After the first rush Of buying orders the
market .quieted down. but about noon
some additional buying orders strength
ened the active list and the advances
scored were we'll maintained during the
balance of the session. The market closed
firm, but, receded somewhat from the
closing prices. A better investment buy
ing is noted, and a large short account
was reduced Trade was light in the
grain, pits and bearish sentiment pre-
What the Brokers Say.
IS M. Doran & Co.'S Chicago grain letter
Bearish sentiment predominated in
grain and provision pits throughout the
session. Trade was light and almost
wholly professional. Wheat bulls liqufdat-
ed and bears put out short lines on pre-
4diction of rain or snow -oYer- winter wheat
belt. The volume of Tuesdays cash
transactions was. materially reduced dur
ing the morning and this put trade in a
frame of mind to discred1t anything bull
isl The cash wheat and flour trade was
rel orted light
Gorn-The absence of any domestic or
export demand for corn, even at big dis
count of the No. 8 under the option. is
emphasfZing in the speculative mind the
unnatural relationship The popular be-
lief in a strong bull. party in May is the
other feature is increased output of con-
tract grade from private houses and cor
responding increases in our stock of that
quality which now exceeds 100000 bu.
Our supply of all grades is heavy and
none of it is sold for spring shipment. as
Is usual. at this season; Liverpool closed
continue light till after spring work is
finished, but promises to be heavy enough
to meet limited demand. There was good
demand for No. 3 and No. yellow which
TlllQ0 1aGD7O higher The demand 10
shipping houses for the purpose of making
contract quality.
Wheat-.-The Liverpool market closed I'D
off. Receipts at Northwestern points were
325 cars, against 235 a year ago. There
We're some local sales Of the No. north
ern at 1c under May; % loads were re-
ported taken for export at seaboard.
Oats-The market was dull and draggy.
with no significant feature. The cash and
future markets are nearer to a normal
basis than in corn Demand is light. Cash
market was steady. -sa
j. G. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market fully holds
It's own after its two days of sharp i'm
prQYement. There is quite an active buSi-
ness and the whole situation and action
shows marked improvement over the
conditions of many weeks past. There is,
Fl OF. course, some prof1t-taking and some
covering of shorts, but there is also a
better investment buying and there is
still large stubborn short interest The
is improving, and London was a good
buyer of stocks in New York. If the mar
ket would not break appreciably during
the last six weeks, we see no reason why
it should break materially now. s
Dick Bros.-The market has been quite
Irregular Sharp advances were made in
the early trading, but were not maintain
ed in the afternoon. Just before the close,
however, there was a recovery, due to
Debated shorts covering, and the close
was strong. One important result of the
day was the further reduction of the
short account. There was no develop
n1ent in the Northern Securities matter
and the days news was unimportants
O'Connor & Van Bergen's correspond
ents says of stocks: -
The strength and activity noted in Tues
days closing dealings were continued dur
ing the morning hours. London again
came strong at advances and initial quo
tations here were appreciably better The
tone was strong and on active Specula-
ton the course of the market was toward
a higher level, and while the bulk of
business was professional, commission
houses were somewhat more active
Shorts covering was the basis for the i'm
provement, but new lines were put out
by other bears, who resisted the advance
and looked for reaction. The afternoon
trading was in much smaller volume ir-
regular and uncertain, though without real
weakness. The close was somewhat more
active again, with the undertone firm
The bond market displayed fair amount
of activity and considerable strength