The Saint Paul globe., 1904-10-24
What the Brokers Say
Doran &. Co.'S grain letter:


NJ. Doran & Co.'S grain letter:
Wheat-The real feature of the trade
today was the manner in which the market
withstood heavy realizing. In fact the
early advance was made in the face OF
tree selling by influential local interests,
but the advance brought out heavier Of
ferings, particularly of =. the December
Closing prices showed but little loss Tor
the day. Early sentiment was influenced
by reported heavy sales for shipment
made since the previous close. Kansas
City advises that Minneapolis has been q
free buyer for the past few days. North
west receipts were smaller than a year
ago for the first time in weeks and every
indication points to permanent faillng
OFF In the movement Liverpool closed @dd 50
higher. Estimated receipts Monday "a
cars
Corn was firm during the early part of
the session, although trade at. all times
was light. There was scattered demand
for December in small lots and there
was further buying Of old crop option
against I sales Of Of new Later the wh9le 43le
weakest option. The factors in the De-
cember situation continue strong. De-
mand is good and the movement promises
to be light for some time. Husking re-
turns are decidedly favorable. Weather
conditions are perfect December will
probably work higher and this may influ-
ence May somewhat. but the latter is
sale On bulgeS. Liverpool closed &c high
er: Estimated receipts Monday, 7S cars.
Oats-It was a quiet day with prices
1HC1IltQ " give way SIdQudIy- NEWS was
scant. Cash market was a shade lower
Estimated cars Monday, 151.
Provisions and May product
were firm on covering of shorts by West
ern packers. The October was a trif1e
easier with next to nothing doing ESti-
mated hogs for Monday, $1,000.
j. G. Geraghty & Co.'S correspondents
say Of stocks:
Logan & Bryan-The market is active
and strong. A good many specialties are
sharply higher. The bank statement was
favorable and showed expansion in every
item. Money is very cheap for this time
of the year and the tendency is toward
even cheaper money. The waiting list OF
investors. to which we have been calling
attention all the summer is beginning to
come in. There is a good deal of scat
tered profit taking. but the important
holders are not letting go to any extent
They can use their money to better ad-
vantage in holding dividend paving stocks
at present prices. As big a market as we
have now is of course liable to scalping
reactions. We see nothing to make more
than Scalping reactions.
Walker BrOS.-The market today was
very strong and active at the opening and
for Saturday the trading is very heavy.
vestment character which gave the mar
ket a good tone. We look for this sort of
market for next week, and with the strong
undertone prices should go higher. Every
one seems bulliSh and stocks are scare.
Paine. Webber & Co.-The copper mar
ket today was the best we have had yet
this fall. All stocks were intensely ac-
tive and in good demand Range was the
particular favorite, selling up three points.
closing at the top. To tell the truth there
were no weak spots, every. Copper stock
participating in the rise. All the financial
papers here are very bullish and predict
ing higher prices for the metal and all
stocks. We believe firmly in the strength
of the metal situation and that Copper
stocks are far better buy at the present
time than the New York market.
Dick Bros.-The market has been ex-
heaviness, bat most of them were buoy
ant and numerous sensational advances
were scored. The heavy stocks were
Union Pacific, st. Paul Brooklyn Rapid
Transit Atchison and Southern Pacific.
There was very little news. The bank
statement was moderately favorable. The
close was irregular. Sentiment was quite
higher prices next week.