The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-01
BULL SENTIMENT
BEGINS TO WANE
Favorable Weather Reports
Cause Slight Depression
Prices Are Stubborn

The following grain and stock letters
were wired yesterday to st. Paul brokers
10y their New York and Chicago CORE
SpOndentS:
NJ Doran e Co.'S Chicago grain letter
says:
Wheat-The situation does not appear
stubborn on the morning decline and re-
covered the loss, led by buying of old
July by local bull house. The bullish
sentiment created Wednesday had not
entirely Worn off with the improved
weather and better crop reports and more
favorable forecast. The Northwestern
Miller reports too much rain during the
week for the Northwestern crop. The
North Dakota weather and crop bulletin
reports the same conditions in lowlands
but says the crop on the whole is in fine
shape. The Northwest and Southwest
We're at times prominent sellers of the
Corn-Liquidation of July continues.
Trade was light and local with the news
more favorable. Less was heard of poor
crop prospects. Reports from Illinois are
uniformly optimistic. Those bullishly in
clrned bought the December and the trad
ing in December was much larger than
usual. The cash situation changes but
little. Demand is limited and receipts
moderate, with some increase indicated
Tor FRIDAY. The sample market is steady
TO &c a bushel higher.
OatsEJuly yielded to further liquidation
while the deferred futures We're firm
with light trade. Crop reports are en-
tirely satisfactory. There is nothing in
them TO suggest A large crop will not be
harvested. The demand for old oats is
much less keen which is affecting the
July. The sample market was 1ac to 1c
bushel lower
O'Ccnor & Van Bergen's stock letter
says:
The market has again moved in an ir-
regular dull holiday sort of a fashion
and IN no way different from what was
in the face of the preaching holidays,
IS the encouraging feature. The Union
Pacific Southern Pacific and Atchison re-
celVed most attention from the few trad
ers who did anything. Reports from
reliable sources are persistent that Unit
ed states Steel earnings for the quarter
WI wills exceed SIC, 600; 600, or more than suf-
ncIent to meet all OUTLAWS and pay the
full dividend on the preferred and in part
repay what was taken from surplus to
make make up deficit last time. Metropolitan
mas held firm on reported stories of a
deal with lnterborough people.
}. G. Geraghty 81 Co.'S Correspondents
say of stocks:
Logan d Bryan-The market is a trif1e
more active with prices a trifie higher
Both are due probably to some covering
of shorts on account of the approaching
holidays. This is about all there was to
the markets. Its action shows how few
stoeks can he bought without advancing
prices Not much else can be- said of it.
1t is waiting market pending the ac-
ton. of the Democratic convention and
little further crop, developments We
stiil feel that the better class of railroad
stocks should be bought.
Walker Bros-The market at the OMEN
ing showed little more animation and
there was somewhat more hopeful feel
ing prevalent. Shortly after midday the
market became. dull and toward the close
eased off on some profit taking. The
immediate course of the market will de-
pend TO some extent on the Democratic
nomination next week. The market closed
steady 0io'so
Dick Bros, The market has continued
duH. but stronger in tone Advances
oniG 81
We're most noteworthy. Otherwise the
gains We're very small. New developments
Were unImportant and trading was slug
being of the holiday kind. Pennsvivan MI
was active but sagged down The bond
market continues to show strength.