The Saint Paul globe., 1904-06-24
CORN AND WHEAT
ARE VERY NERVOUS
Markets Show Great Activity,
but Prices Are Unchanged
Stocks Are Dull

The following grain and stock letters
were wired yesterday to st. Paul brokers
by their Chicago and New York CORE
SpOndentS:
NJ Doran e Co.'S Chicago grain letter
says
Wheat-Wheat finished a nervous ses-
sion with no material changes in prices
from. the previous close. After a very
tame opening old July ffuctuated over a
range Of 1c. Moderate buying by local
bulls started scattered shorts to cover
ing. English cables were unexpectedly
strong on unfavorable weather in Argen-
tine. st. Louis reported some fancy prices
paid for new wheat which created cOnSid-
erahle bullish sentiment, but it is eX-
tremeIy doubtful If prices paid represent
the actual commercial value. The Wea ther
is favorable. with forecast for showers in
Wisconsin and the upper Mississippi val
ley
.-Corn-July gave another erratic exhibi-
tfon al the opening. The demand was ur-
gent, although light and &c was added to
the value before offerings were free
enough to satisfy it. In the meantime it
had gone from small discount under Sep
tember to 12c premium. Trade is small
and nervous, with a gradual yielding of
values to the nelghbOrhoOd of previous
close, and restoTa ton of the slight Sep
tember premium. Receipts were light
Shipping demand is. dead and though lake
room is offered at what would usually be
considered low prices practically nothing
Is doing in the way of charters.
iOats-Oats were exceptionally dull, with
a very light trade and no material changes
IN value. Our Des Moines agent says the
condition in Iowa is simply perfect. In
Northern Illinois there has been a de-
ficiency. Of moisture, but forecast prom
~O'Connor & Van Bergen's stock letter
says:
Prices have held fairly firm in spite of
Ihe tact that buyers have not been as
numerous as earlier in the week. This
is not considered suggestive as indicating
any dimfnutiOn in growing confidence as
TO the present or future, but to disposi-
ton to take a conservative course by
awaiting actual developments rather than
base operations on what presumably will
happen, especially as regards the country S
crops. Nothing in any way new has ap-
peared either here Or from abroad
to alter the situation Traders at
tentiOn was concentrated Temporary
on speclalties from time to time in which
result such stocks as 500, Mexican Cen
Iral and Peoples Gas enjoyed short bursts
OF activity. Fluctuations in the general
list has been within narrow limits
j.. G. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-There is not much
change in prices: After a, week of ad-
Vanclng market it still holds well There
are no more indications of liquidation
than there have been. The volume of
business IS not large, but the general
tendency shows some Improvement A
good many traders are rather expecting
thatt following the Republican convention
there will be some reaction in view of the
uncertainty OF the convention yet to come.
We see nothing threatening or alarming
IN the political situation and do not look
Tor much reaction based on a sentiment
OF that kind. There is too much idle money
awaiting investment and the cron nros.
poets and the basis of future business
are too encouraging.
walker Bros.-The market was dull and
prices were inclined to be strong. The
trading was. light and convention talk
had little effect. Before the close there
was some little bidding up and prices
bullish. ID @Ilii