The Saint Paul globe., 1904-10-20
What the Brokers Say
,oran & Co.'S grain letter:

WHAT liS GiONCTS Sdy
M. Doran & Co.'s. grain letter:
WheatAThe growing appreciation on
the part of the general public of strength
in the domestic situa ton was evident in
the heavy buying by commission houses use
during the early part of hesession. The
buying dominated the market, advancing
prices &c buShel, from which point there
was normal reaction later with a good
deal of realizing by. prom inent local longs
Cash news was again the chief feature.
Premiums were advanced at all eenterS.
No. 8 red in st, Louis sold at s1.1S. an
advance of &c. The same grade brought
$119 here and was offered at $110 in
Kansas City. Our Peoria house sold No.
2 red to Nashville at 81: 25. These values
and future prices at other Western cen
ters make our options look too low rela-
The Northwest complained that. the
continuous wet weather was not only de
laying threshing, but damaging the grain
in shock Winnipeg advices predict a
sharp falling off in equality of receipts
within a fortnight. Scattered reports OF
unresponSve. but the foreign attitude Is
of little moment here as our future prices
viii be made on the home situation. Liv-
erpool closed I'D to Il d higher. Estlmat-
ed receipts tomorro IVY cars. Ia
Coffi3There was an 6benf11g furry as a
result of the wet Teaa1ther present q, ang
prospective The tfaas . the then a, fell IN INTO ito
the buying became more pronounced with
fair advances Decemher.Was naturally the
stronger, rejecting in, addition to POSI-
bility of delayed movement, the excellent
demand for old crop and rapidly decreas-
ing stocks.
The premium of the December over
May should widen and we suggest such a
spread as offering good opportunities for
profit. The cash market was steady to Nc
higher.
liverpool was firm att Ad higher on a
| good demand. Estimated cars, 79.
Oats@Fhe trade was. the best in some
| time. Pit crowd was ebullish and was
| helped by strength in wheat and corn ana
by fair covering by si19rts Pr1ylsio9 oilaa m
| let up in receipts was noted at outly-
| ing points and country acceptanees. were
| light The cash market was steady 10 Ac
4 higher. EStima ted cars 102.
! Provisions was better tone to the
| list rejecting stronger speculative posi-
1 ton as a result of recent llqu1datlons, tne
strength in grain markets and advance IN IN
| hogs of from &c to 10c.t Estimated receipts
| of hogs, 23. 900.
j. c. Geraghty & Co.'S New York let
| ter:
| with a large general trade. On an early
| strength there was good deal OF proelnt
/ taking and a good deal of activity on the
part Of the bear traders rms ms Orougal, b|al,
/ we have not had for some time. Inc
| closing is, however, considerably steadleI
with much of the loss regained It Is a
perfectly natural market. and ought NOT
and we think, will not disturb the condi-
fions of holders There is nothing in the
! situation except natural nervousness on
| the part of scattered shofdeTs VINO nave
! taken on stocks oata the advance 70 prlnss ny
| about any decline and a decline from tiiat
cause is likely to be temporary
OConnor & Van Bergen's New YORK
/ stock adviees: Ff1,~ ~
/ The market was very active and strong
| during the morning and very active ano @
| rather heavy without weakness IN the
| afternoon. The early buying seemed tc
| come from all directions and the advances
] as a rule were not in proportion TO the
! volume of business, as most of the sell
1 as it had been for two or three days. Room
| sentiment favored a reaction. AS the
| demand lessened considerable pressure
| was applied and prices yielded uncover
| ing stop orders and selling by weak hold
/ ers The demand at declines was sur
| prisingly good, and the close was at ar
| irregular recovery.
| A very defined check to the upward
movement started in about an hour be-
| rated by the activity by large beal
| clique who have been on the outlook FOL
| the turn They have been awaiting Bank
| er Vanderlip's speech,s and profess con-
| siderable disappointment when it came
| out that the street did not take more
notice of that part in which he suggested
| caution to those too speculatively enthusl:
| astie. A reaction IS long overdue an9
| as there is nothing in the situation at al
| different from what has been the pas
| few weeks there is no reason to eXpec'
| decline will be serious; while, on the Other
] hand it should prove healthy in relieving
| what might otherwise have resulted in 9
| congestion on the long side.
| 4