The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-05-04
MARKET WEAKENS
BUT REGAINS LOSS
Fair Weather Causes Grain
Prices to Stocks
Continue Dull.

The following grain and stock letters
We're wired yesterday to st. Paul brokers
by their New York and Chicago CORE
~SpondentS:
M. Doran & Co.'S Chicago grain letter
says:
Wheat-The wheat bull had a discour-
aging situation to face the first hour. The
news seemed Overwhelmingly beariSh
Long lines went over in stop orders and
snort selling was exceedingly popular
with the local contingent. The weather
was almost perfection over both wheat
belts and the forecast gives no indication
or a break. Northwestern markets were
weak. The cash demand and the flour
situation were very bearish. The pre-
lminary guess on the Missouri state re-
port increased condition points for past
month. With mo change in character of
news the whole tone and trend of the
market was atteSted by the purchase of
about 100000 bu of old July which the
crowd took to be for Armour. Local
shorts become eager buyers and recovery
close.
Corn-Corn opened lower, with a heavy
trade, both ways in July. The market
zdWIndled to small affair and hesitated
awaiting some guiding influence Strength
an wheat served to run shorts to cover
shorts became eager buyers and recoveI-v
before the close. Situation is exceedingly
weak. Stocks are heavy. Advices from
the country indicate a freer movement.
Inc demand is poor, particularly for ex-
port. Ihe weather is perfect and blowing
and planting are progressing rapidly with
exceptionally fine soil conditions. Iowa
reports a record acreage likely.
OatS-The market was affected nv
surrounding weakness during the first
hour. Trade was not heavy nor signif-
Icant The change in wheat gave a bet
ter tone particularly for Nav which was
strong and more than recovered the OMEN
ing decline. We are firm believers in old
crop futures and think they should be
bought on every recession.
j. C. Geraghty & Co.'S correspondents
say of stocks:
= Logan & Bryant was just dull see
saw market There is NOTHING in the news
or IN current developments to give the
market Roadway in either direction.
walker Bros.-The market at the open
ing was inclined to be very weak and
the traders sold the active stocks Later
there was a better tone, with some sup
port, and when Union Pacific was taken
up and showed Strength the rest of the
market advanced. There was very light
trading, however, and the market was
quiet The steel stocks were weak in the
AFTERNOON and this had rother a bad eff
rect. The close was dull and steady and
with little interest on either side.
Dick Bros.-The market has been some
what more active and decidedly firmer
Ihere being general recovery from a
rather heavy first hour trading Mexican
again showed strength and held its
point gain to the close Much of the
evident that stocks were well taken nm
during the morning.
O'Connor & Van Bergen's stock letter
says:
Professional bear operators gave the
market an unsettled tone and slightly
lower prices in first hour but long stocks
did not come out and, as there was some
absorption for time, fair buying order
in Union Pacific turned the tone and COW
ering by shorts rallied the whole mar
ket At the higher level business stopped
and later an easier tone ruled at recess
sions. The persistent pressure on steel
issues is one of the most discouraging
features. Western weather reports were
10 Noe lot
cred favorable as far as having bearing
on sentiment here.