The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-18
What the Brokers Say

NJ Doran K Co. S grain letter saws:
Nheat-Ihecez was selling early on
clear weather and easier cables but very
nigh temperatures in the Northwest
n good deal OF buying on fears that dam
age may result from Seorchiner weather
stronger markets are expected during the
coming week and with the belief growing
that the United States will have very lit
Tie eXportable surplus il started the bulls
on new. tack with sentiment more opti-
misCc than ever. The closing was strong
and there are possibilities that higher
prices will be witnessed
Cofn-JulY deliveries are very light and
while there was selling early on hot and
forcing weather offerings were we'll taken.
while strength in wheat started shorts TO
covering. July and September are in
very strong position with little desire
shown now to sell those months
Oats-Car lots were a triffe larger brIt
there was good buying from the start
Win shorts covering on unfavorable adj
vices from Central Illinois. where the crop
IS reported IN poor condition. We look for
higher prices On oats
Provisions-Very dull and about the oniy
feature was selling of lard by Cudahy
The strike situation is unchanged and we
look for a quiet market.
!. Z Geraghty & Co.'S correspondents
say OF stocks:
Paine. Webber & Co.-The bank state
ment was most excellent showing in
dicatlng gain of cash approximating
$4,000. 600. The market showed continued
buying in others. The Steel stocks were
conSplcuouSly strong and If they go on
advancing they viii still further recruit
the bull interests in the market We think
Steel preferred viii sell higher. All ad-
vices from New York this morning agree
mat the copper metal market is fraction
ally higher and that producers are not
anxious TO sell. The copper stocks are
acting Splendidly. They are dulIer at
about the top prices. so far reached. and
there IS a market for all any one wishes to
sell. We look for continuing improve
ment IN the coppers.
Logan d Bryan-A month ago we ar
gently called attention to the probable eff
1ects OF the enormous amount of idle
money. the improving crop prospects and
the allayed fears regarding the political
situation upon the stock market Stocks
nave steadily advanced and investment
pGNlAg Is sun increasing and holders are
no, more willing to part with their stocks
IMAM they were at lower prices. With
me exception or circumScribed damage to
the wheat crop in the Southwest the ten
dency of the weather is very favorable
Money continues to accumulate in tina
banks and no material drain for the 1,tr-
pose or moving crops Is likely for two
months TO come at least. and then II is
not likely to be important The market
ana lis advance are as legitimate as can
De and are the results OF broad, funda-
mental conditions We still think it fs a
long way from top.
eFConnor * Van Bergen's correspondent
says:
ALAG l14s1l net 0i}SHGQ irregular and GtIiRf
Win weakness in Union Pacific and
Southern Pacific on profit taking the mar
ket feature. a very strong tone in United
states Steel stocks wa5 followed at the
end of the first hour by activity and
good buying of the preferred and adj
Vanced the entire list and the market be-
came distinctly strong with interest rather
better distributed. The volume of
business was not large nor with
few exceptions were the advances.
but the closing was very active well nm
n zoe fNff 10 u.
Iatiye sentiment cheerful The IMMIGRANT
advances were found in United States
Steel preferred St Paul and the Fries
me nank statement was distinctly ia
yorabIe in respect to gain in cash and
surplus reserve while increase in loans
was rather heavier than Anticipated An
important influence was the very favor
able weather news from the West and a
disposition to believe that with Continued
good weather that the crop damage NAV
be ayerted.