The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-14
What the Brokers Say


What the Brokers Say
NJ. Doran & Co.'S Chicago grain letter:
Wheat-We have had another excited,
prices being about &c higher than yestere
day. The weather in the Northwest was
bad, being cold and stormy. Cables firm,
altnough showing no such advance as we
had here. No great attention is at pres
ent paid to cables, as it does not look as
II we had any wheat to spare for export.
some OF the best judges of our market
and most successful operators in it are
entirely satisfied we are going to see very
much higher prices. This class of men
are long on wheat and don't sell it even
On Snch a market as today. The result
Is prices advance easily. Broomhall says
Argentine shipments will decrease sharp
Yin ~ IN October as the crop is almost ex,
today to tn to export and domestic buy
ers. Our market will be cratic, fiuctua-
lions sn3rp, but We expect higher prices.
increase IN receipts. Estimated receipts
tomorrow, 1873 cars. Liverpool closed
rs pi:sd higher; Paris, 1z@1c a bushel
CorEIThe prediction of frost through
practically the entire Western corn
country caused active buying and sharp
advance. We think that possibly so per
cent OF the Western corn would be dam
aged by hard frost should it come to-
night. Men who yesterday believed May
was high enough at soc have bought free
iy today because of fear of this frost This
corn will be for sale tomorrow if we find
tomorrow morning that no damage has
been done. On the other hand, the reali-
cation of government predictions will
likely give Us a still higher market Liver
pool closed AQ sd higher. Estimated re-
celptS tomorrow, $40 cars.
Oats-Oats sympathiZed with the ad-
vance In corn and closed higher tonight.
Should corn receive the damage that is
IN every position. both West and here.
Speculation has not been on any such
scale as in corn. Stock of oats in sight
continues to check speculative buying.
There is little better cash demand.
Estimated receipts tomorrow, 124 cars.
Provisions have been dull The market
grain markets. will encourage commission
houses to send out adviceS to buy provi
slons because they seem low. There is
works fbe nr on the III part Of packers
up some, we think with the idea of sell
ing them on any advance. There is a
outside account and liquidation of these
holdings between now and Oct. will have
some influence on prices. Estimated re-
celpts of hogs tomorrow 100000
J. c. Geraghty & Co.'S stock letter:
Logan & Bryan-The market is
family family oS active but without any ma
ness over the possible damage to corn
by frost the action of the market is en-
couraglng. There seems to be steady in
IN oa5sde interest and there is
those who have been carrying stocks
from lower point. We see no change
serious damage to the crop would give
the market some reaction, but it would
have TO be severe one, We think, to give
permanent az Mt setback to the general ten
buy stocks on the soft spots.
OConnor d Van Bergen's correspond
ents say of stocks:
Watson & Co.-The tone of the mar
ket. considering excitement and rapid rise
In corn and wheat has been moderately
strong. There has not been a great deal
OF stock pressing anywhere yet there
has also been no marked disposition to
buy. Official confirmation of frosts in
different sections of the corn belt and
predictions of colder weather tonight de-
terred any desire to purchase on what
has been rather fair decline from top
figures. It is said several specialists re-
ported Withdrawals of selling orders, but
the general impression seemed to be that
this represented less a change of senti-
ment than recognition that the market
was not wide enough to take more stocks.
London has been noticeable seller
through arbitrage houses. The heaviest
liquidation was in Southern Railway. The
foreigners follow US closely, and the only
speculative interest they seem to manifest
at the moment is in what is going on
here.
Van Emburgh & Atterbury-The market
for the greater part of the day has been
highly irregular and feverish. The vol
une Of trade was fairly large, with prin-
and liquidation and bear pressure resi- aou on :
frost scare in the corn belt more than Off
lower range of prices. At the conces-
sions, however. stocks were fairly well
taken and in the latter part of the day
the tone steadied materially and the mar
ket showed more resistance Pennsyl-
valiia was conspicuous amongst the rails
for its strength. closing at an advance
over last nights figures. while Locomotive
was the feature of the industrials and
Metropolitan of the fractions The re-
rarkable strength and advances in the
grain market was deterring influence In
our speculation. but on the other hand
there was less inclination on the part of
sellers to follow the decline and on
took place. the market closing fairly
steady and with disposition to look for
better market tomorrow. barring pro-
nounced frosts in the West during the
night.