The Saint Paul globe., 1904-01-30
WAR RUNORS ARE
CAUSE FOR BULGE
Wheat Shows Great Strength
and Regains Much of Its
Lost Ground.

The wheat market yesterday was gov
elned by the news from the far East.
The rumorS that war is again likely cause
prices to advance quickly. Trading was
light, but the market closed strong. Oats
and corn were also firm on the probability
OF war: Corn advanced &c at the open
ing. The receipts continue to run light.
The cold weather has caused a improve
ment in the grading of the new crop. Oats
We're quiet. but firm. AT the close there
was sudden advance. The cash market
Is very strong.
Stocks showed little change yesterday.
although the undertone was greatly inn
proved The small amount of buying was
OF much better character than the SELL
banks are gaining literally and very
favorable statement is expected today.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
says:
Wheat-The situation in far East came
into prominence again. The news prior to
the opening reflected the uneasiness
abroad. Liverpool was 5s to q higher. Our
start was Is to 1$s higher and advantage
was maintained throughout the day Trad
Ing was not heavy after the first hour
ana prices We're nervous within a close
range Statistical news helped price in
the latter part of the session. Receipts
were small and clearances. large.
Corn-Corn was under the same war in
nuence as wheat at the opening. advanc-
ing 1sc. Trade was quiet, but values were
very firmly maintained, over soc for May.
The selling continues of a much poorer
class than the buying. The zero weather
this week has made little impression on
the grading OF receipts. The country
throughout Central Illinois is selling moth
ing on strong bids sent out. The Liver
pool market was strong, closing u up on
war rumors and the sharp falling off in
Argentine shipments.
OatS-OatS ruled quiet but firm the
major part of the session. Near the close
the May option gave an exhibition of
strength, advancing to 43c in very few
minutes. The January oats We're strong
and up q c. The cash market was 1c high
er.
,O'Connor & Van Bergen's stock letter
says:
The market was irregular, and uncer-
tain in tone throughout the day. There
was scattering liquidation and short sell
Ing In many stocks, which depressed
prices for time followed by an irregular
recovery and dullnesS. Towards the clos
ing the selling was resumed and was
heavy, with a declining tendency. The
course of the market indicates that the
stock distributed at the higher prices has
not been digested and that the bearish
sentiment inspired by the failure of the
Dull movement and the gloomy reports of
the steel trade is growing. The buying
power is not sufficient to take liquida ton
and short sales without declines. London
was a small buyer early in the day.
though there We're no developments in the
Eastern question. The movement of money
shows another large gain by the banks
The loan item is the point of interest An
other large increase would be received un-
favorable. Opinions as to an increase are
conflicting.
]. G. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-There is not much
change in prices. The market is steadier
but the volume of business rather small
Most of the selling pressure Thursday
came from bear traders The market
seems to be waiting developments in the
political situation and the result In the
Northern Securities case. The banks have
gained literally during the week, and
favorable bank statement is expected
Saturday. Apart from what actual war
might do temporarily. we see nothing to
make any sustained pressure on the mar
ket. We regard the standard stocks as
worth the money and advise buying on
the soft spots