The Saint Paul globe., 1904-11-13
MARKET ACTIVE
But IRREGULAR
Reports on Steel Trade Give
Strength to United States
Steel

- s.
A short interest in steel was forced to
cover on account of activity in United
States Steel common and preferred,.
caused by reports of increasing orders
from railroads. The bank statement was
poor and caused some selling. The tone
of wheat was firm.
What the Brokers Say
NJ Doran & Co.'s grain letter:
SsWheat-There was a firm tone, on the
whole, to wheat. Much of the present
smaller receipts in the near future. The
tendency now is that way and the opinion
of the best posted men in both belts is in
oTeS nne With nod t5s dss a Ns
3@4c higher. Liverpool was I'd higher
at the close. Continental markets were
strong. Worlds shipments Monday are
estimated at 11.2o0.000.
.9Cern-The strength inherent In the corn
market was effectuaIly demonstrated in
the first hour when prices. held, although
weather a bearish feature. There was
but little for sale. About midsession ac-
tivity increased and prices advanced with
Pr9ht nefnrn taEng {e causing eg sharp sef6aek
strength of the present position is in sup
ply and demand situation. and is not
based on any sentimental feature. Wet
weather. which by the way is overdue,
would proiong the period Of limited sup
plies. 1t is safe to say stocks OF contract
have never been so thoroughly cleaned up
-.
ceed 900, 900 bu, Of which not over 100, 900
remains unsold. Cash market was firm
and steady to 1c bu lower for new mo
grade" The country east Of us is
without stocks, and even with an increas-
ed movement no appreciable setback need
be expected in demand. The map fndi-
Gates warmer weather: Cables from Liv-
erpool closed A@1Rd higher.
AOatS-Locai. traders were bullishly in-
clined and the market firm. This attitude
was reflection of the wheat and corn
are large and no material advance at
present probable
O'Connor & Van Bergens stock advices:
Watson & Co-Wall street has been in
asrejoicing mood this week and with good
reason. Fundamental conditions making
possible the present bull market never
discern a cloud In the financial sky
There has not been an adverse develops
ment to alter one iota the Immediate fu-
ture of either the investment or specula-
tive markets. To the contrary, the voters
emphat atically indorsed President Roose-
Eelts administration and the govern
ments optimistic ideas, of the agricHl-
tural yields are matters of far reaching
consequence, and it will take more time
than the few days so far elapsed for the
people of our country to realize their full
junction with other known favorable con-
ditionS.
Van Embergh & Atterbury-The market
was again very active, with the usual ir
AC5 I1SdNy III C6It1ll
lines found sufficient buyers to hold them
steady, and new features were developed
IN which manipulation made them at
tractive to the trading following. The
general tenor of reports of steel trade,
with increasing orders from railroads,
made good tone and strength for Unit
ed States Steel common and preferred, in
which little short interest had been
made and was disposed to cover. The
bank statement was poor and, without
affecting general tone of the market,
probably caused some selling in a mod
crate way. The decrease in loans re-
dected trust companies and out of town
lending and saved the statement from
showing a much larger decrease in sur
plus reserve. The close was irregular the
easier tone in spots due to usual evening
up of contracts, while number were
strong at best prices.
Bank clearings