The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-19
What the Brokers Say.

What the Brokers Say.
NJ. Doran & Co.'S Chicago grain let
ter says:
Wheat-The trade in wheat was smaller
but the market proved to be an active
one, within comparatively narrow range.
The professional element was bearSh,
working for break after the quick ad-
vance. but the price level was rather
stubbornly maintained and the source Of
strength was somewhat puZZling. The
cash news was much of the same char
aeter as that on which the market was
bulled, but on advance the effectiveness
is to some extent lost except in the
May, which continues to move upward
Minneapolis stocks decreased 700. 000 BUSH
els SO far this week, with twOthirds
of the milling capacity working. For
eign markets lost Tuesdays advance.
The weather at present and prospective
is seasonable in respect to precipitation
and temperature. Just prior to the close
there was a report of so 600 bushels of
No. 1 northern sold at 12c over May; New
York places export sales at II loads and
Liverpool closed Ac to sc lower.
COrn-Corn was rather erratic, weak
early and later strong on covering by
local professionals. Influenced no doubt by
the tone Of the market. This buying has
probably left the pit situation weak at
the advance. The news was Scant but
bearish. The demand is limited. The
lake situation is further complicated by
strike OF elevator men, and boats which
nave reached Buffalo are unable to I'M
load. Country purchases throughout Hi
nois and Nebraska steadily increased in
volume; 100. 600 bushels of No corn We're
loaded from store Tuesday, and contracts
for $4,000 bushels Cancelled. The sample
market was quiet and prices unchanged.
liverpool was nc lower.
Oats-There was a dull trade, with the
tendency apparently Influenced largely by
the course of corn. At the start there
was a general disposition to sell on fine
wea ther and slack demand. Private crop
.advices are of uniform optimistic charac-
ter. The cash market was weak and 1sc
to 1c lower. There was some advance
in the September on covering.
O'Connor & Van Bergen's corre-
spondents say of stocks:
While the market showed a distinctly
strong tone, the volume of business was
very small Several specialties were
moved up sharply on various rumors.
Realty preferred the most prominent, it
being said the stock will greatly benefit
ny the proposed plan OF reorganization to
be made public shortly. Gates people, as
usual. We're credited with the movement.
There have been no new developments
of Importance, the Improvement in prices
has been due partly to short GOVERNS and
partly in the theory that the selling had
reached a limit. The continued strength
in the Steel stocks has made a favorable
impression. Bankers are beginning to ne
gotiate loans abroad and if cheerful feel
ing now existing there continues viii
pay them on IN securities later. There
seems TO be an easier appearance to eX-
change, and while more gold is probable
TO so out on account of the Panama mat
ter. We believe other demands are in
great measure satisfied.
J. c. Geraghty & Co.'S correspondents
say of stocks:
. Logan & Co: The list generally shows
about as little change from Tuesday as
is possible. Neither IS there any change
in the character of the news or current
operations. An Indifferent public, a lib
eral short interest and further exports
of gold are the principal features Bank
erS are trying TO head off the latter by
s. selling long time bills of exchange. We
see nothing in the outlook except dull
ness. The short interest may cause tenn
porary rallies, but a sustained advance
at this time seems hardly likely. The
whole situation is dull and uninteresting.
Paine Weber & Co: After fur
Their rally this morning the market
Sagged off all day. It seems the
buying was mostly for foreign account
There is a rumor from abroad that some
thing is being done in diplomatic circles
that may result in the early termination
of the Russian-Japan war. This was
probably the cause for the bullishness AS
yet we see little in the situation to en-
courage one TO trade either way The
price of copper was again reduced &c on
the metal exchange.