The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-24

The volume Of trading yesterday was
larger than the market has seen for
cific and Southern Pacific were tremen-
dous and the quotations were violent.
Notwithstanding heavy realizing sales.
prices went upward. Three quarters OF
the total trading was done during the
first two hours, but the afternoon session
was fairly active with recessions and ad-
vances in different quarters following
each other rapidly. Though support was
reacted but moderately. Speculation
broadened and there was marked in
crease in outside interest. Wheat had
sharp break and an almost complete rally.
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
Wheat-Wheat had sharp break and
an almost completes rally. The pit crowd
We're in control during the morning and
prices We're sold off easily. On the de-
cline a good demand developed for old
July and new September The former
on improved cash demand and reported
sales of No. red, and the latter on COM
plants of damage from soft winter wheat
states. The Southwest receipts are small
er than year ago. which has been an
uncommon occurrence of late. Shipments
We're nearly four times as great as ar
rivals. Precipitation was heavy. in the
Ohio valley and in California. but en-
tirely lacking in Kansas and Oklahoma
Advices are being received from Ohio
Illinois and Indiana complaining of the
poor appearance of the crop and some
fields. it is said. will be reseeded to spring
crops. Fifteen loads were reported taken
&or export. Liverpool was BmAd lower
Corn-The springlike weather was the
selling motive during the morning. The
May was without support, yielding with
9he July. The selling was apparently over
done on late rally in wheat Shorts We're
good buyers, particularly of deferred flu
lures, which ruled relatively stronger than
May. There was some buying on the be-
To- |, rNc.its 70 mo lYr
corn deliverable on contracts would be
Sefeated. The cash market was AZ to lie
Ewer and demand slow.
Oats-The market was In general way
q reflection of corn. Bears On corn were
most aggressive sellers. Our Peoria house
expects a material increase in the Illinois
acreage this spring. Cash sales were ZEE
to 1c lower and the demand is not good.
Receipts, 102 cars.
J. c. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-Prices average little
better than Tuesdays close. The support
was withdrawn from the Union Pacific,
but the market only reacted moderately.
There was a large general trade and
marked increase in outside interest. Inc
street is still theorizing on the move in
Union Pacific as the result of dissolution
of Northern Securities company. There
is some revival of the talk of possible gold
exports, but it is not factor of much
influence so far. There is still large
short interest in the general market. So
far the Steel stocks have not participated
in the advance. 1t is a good, healthy mar
ket and healthy situation.
Dick Bros.-The- market was quite
strong again this morning and was I'M
usually active, particularly Union Pacific,
Southern Pacific and Pennsylvania. In the
afternoon the list Sagged, running off
rather sharply at the close. There was no
news. Sentiment was generally improved
The close was heavy.
O'Connor & Van Bergen's correspondents
say Of stocks:
The market opened excited at general
advances, but quickly became very lrregu-
lar and nervous with tremendous dealings
and especially in Union Pacific ano
Southern Pacific and with violent quota
tions. A futile effort to resist the advance
was made, and Notwithstanding heavy
realizing sales offerings were easily alb
sorbed and prices moved upward. Though
three quarters of the total trading was
done in the first two hours, the afternoon
session was fairly active with recesSions
and advances in different quarters of the
market following each other rapidly. Al
no time was there any real weakness anC
speculation broadened out and became
more general though greatest activity
was naturally in those issues in which
there was the greatest short interest
After the noon hour the reactionary ten
dency was rather more pronounced, re.
flecting the earlier liquidation and en-
couraging some selling for a turn.
conspicuous feature of the market wa:
found in Consolidated Gas, which wa:
well bought at the advancing prices.
heavy gold disbursement by the sub
treasury on. account of San Francisco wa.
offset by tentative inquiries for gold TO
export though no enga gementS were re
ported Sterling exchange was steady t,
firm without activity. In the last hour tn,
market became comparatively quiet ant
closed irregular. materially below tn,
best, but not weak.