The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-22
WHEAT CONTINUES
TO CLIMB UPWARD
Price of May Option Is Now
$1.O7-StOCks Are Sold by
Foreigners.

Saturdays session in the wheat pit was
short one, but the excitement and vol
ume OF trade was enormous. There was
nut momentary reaction shortly after
the opening to mar the continuity of the
advance. The great wave of buying car
ried prices to levels hardly thought pos
slole. The stock, cotton and public specu-
1ator in general are in this market and
the increase in trade is simply tremendous
and carrying everything before it. and
there Is no telling what the end will be.
There are strong speculative and legitimate
features IN all the markets, but the pub
Tic is chiefly interested in the wheat pit
Foreign news is strong and consoIs fell
off SIG. The routine news of no conse-
quence.
Influenced by the European markets
the New York stock market was weak
Saturday. Foreigners are sellers of Amer
lean securities. The bank statement was a
favorable one.
What the Brokers Say.
M. Doran & Co.'S Chicago grain letter
says:
Wheat-Wheat was again the leader.
me news, although of little consequence
as far as the course of futures were con-
eefned, was bullish, both foreign and do
nestle The cash markets everywhere
were materially higher. There was snow
tnrough the Southwest, excepting in Kan
sas Local receipts were 16 cars with 35
estimated for Monday.
S Corn-Corn fell in line with the other
markets to a greater extent and without
any news other than the general bullish-
ness worked higher The country move
ment is light. One Northwestern elevator
company with nearly 200 stations bought
but 1000 bushels Friday.
Oats-The strength of deferred fu-
lures was the feature in the speculative
market. Buying was general and hard to
loealize. The cash markets were strong
OConnor q Van Bergen's stock letter
says:
The London prices were again an I'M
favorable influence, though the selling
from there and what originated in Paris
and Berlin was unimportant. Our mar
ket was heavy in tone on light business
throughout the morning Sentiment was
bearish, but bear selling was restricted
by the absence of liquidation and the holt
day. An excellent bank statement was
b Mno1 cbe eeGt exc SO far as It may
Fear of the money market has not been
an influence in the recent decline and
cheap money alone will not prevent fur
Their declines in face of the unfavorable
business and political conditions The
close was fairly steady. Foreign news will
be of most interest during our holiday and
our market on Tuesday.
j. c. Geraghty & Co.'S correspondents
say of stocks:
Randolph-The chief news of the dav,
was that the Paris market was in a pan
1cky condition. In fact the position of
various interests both there and in the
gerous, owing to the heavy fall in Rus
sian securities, and London reflected this
by exhibiting nervous and very weak
tone. The market declined with some
Tapidity for time. but closed steady and
not far from the lowest of the day.
Logan & Bryan-The market is a rene
titfon of the past two days 1t is still a
surprising market in that the conditions
dislodge so few long stocks. The political
news, or rumors. from Europe are sensa-
tlonaI. Foreigners are sellers of our
stocks. There is an important professional
interest that is bearish and the market
undergoes some pressure from this source.
IN view of all this it holds surprisingly
well. The bank statement was Favorable.
There Is enough short interest to make a
better market in case the news from
abroad improves, but without we do not
see how 1t can escape dragging lower