The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-04
WHEAT IS FORCED
UPWARD BY BULLS
Market Scores High Record
Mark and Other Grains Fol.
low It's Course.

The bull interests had complete con-
troll of all the grain markets yesterday.
Wheat was forced up 21ac, corn 3Bc and
oats 1Ssc. There was no attempt made
to stem the advancing markets. In the
wheat market the advance was steady
with but fractional reactions. Shorts
who hoped to cover on soft spots were
sadly disappointed. The offerings in the
corn pit were light.
Stocks Were. a little bit weak on the
was heavy selling by traders. Late in
the session prices hardened, but there
was no buying Of Importance.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says:
Wheat-This was the biggest bull mar
ket the grain pits have experienced for
many months At the high point May
was up 2asc to 213c, corn sac and oats
1Hc to 1asc. The advance was steady
with only fractional reactions. Those who
looked for soft spots to buy were disap-
pointed. Trade was bigger and broader
than for long time. and bull enthusiasm
was at a high pitch. Few new features
strongly the points already known, but
the effect of which has only been felt in
a small way. A big outside trade with
existing legitimate conditions of supply
and demand can only mean higher prices
Corn-The readiness with which all of
Ieflnss We're absorbed was the notable
AIclhAC- InGIS WAS tremendous force
under the market which could not be ig-
nored. Big shorts and provision interests
bought freely and longs added steadily to
thelr lines. The movement to this mar
ket VIII, soon bS SO small as to attract
universal attention. Receipts now are
from the country elevator stocks and
farmers are offering nothing. being dis
SATISFIED with prices. Iowa correspond
ents say the country stocks are very light
Inc local market is strong and unchanged
to lie higher.
"a
advance, but We're held in check by rather
free offerings between 45@46c Lesser
longs nave now pretty well liquidated
me advance here is not bringing out of
1erlngs IN the country either from the
farmer or from dealers, and the inouirv
from all sources is increasing Iowa farm
tSrs have sold as close as they dare and
nave nothing TO offer
j. G. Geraghty & Co.'S correspondents
Bayeof stocks:
Logan & Bryan-Prices are a little
easier. me market drags under slow
outside interest, some bear pressure and
arHttle liquidation. The Eastern situation
IS considered to be at critical noint
!Cntl something definite is known, no
Iddlcal action is likely. Pending this the
market is likely to be dull and prices
may drag little in consequence Con-
sIderlng the Importance of these uncer-
taintleS there Is surprisingly little selling
pressure. So far as we can see the gen.
eraL character of the market and its
tone are about the same as they have been
All Tie I6CGHL past.
walker Bros.--The market was in
cllned to be weak and most of the active
stocks declined. Traders sold Quite
heavily and there was lack of support.
Late IN the afternoon prices hardened up
little but there was no desire on the
part of anyone to buy stocks. We do not
look for much activity this week
Randolph & Co.-The market opened
irregular and under pressure. 1t has been
weak and dull, sagging off nearly all day.
= mere seemed very little enterprise on
me part OF either the bull or the bear fac
IONS In the way of affecting prices and
the market has sagged of it's own weight
Money continues easy
says: -0''oA
The tone of the market ruled heavy on
moderate transactions. Liquidation in
specialties. such as Brooklyn RAND
transit, discussion of the security hold
1hSS OF the late w. c.. Whitney the re-
ported early call ON the national banks
Tor the Panama payment conviction that
war IN the East cannot be averted much
longer. the decentralization of the cotton
and coffee markets and revival of reports
OF pennsylvania S intention to borrow a
large amount of money, combined to make
p bearlSh sentiment, under which prices
declined irregularly and vet without de-
Neloping real weakness or activity That
the early selling in the leading stocks
was largely for short account was shown
by the dullness at the declines and the
stronger tone and partial recovery toward
the close without news of any kind The
market indicates that small as if is the
aggressive force is on the bear side for
the time being. and with the prevailing
apathy or the leading interests and the
pubic the outlotE is for dullness and a
lower market The close was quiet and
erting depressing influence under Slightly
Improving tendency in spots