The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-02-21
WHEAT CONTINUES
TO CLIMB UPWARD
Price of May Option Is Now
$1.07-Stocks Are Sold by
gs-5-SR
Foreigners.

Saturdays session in the wheat pit was
short one, but the excitement and vol
une Of trade was enormous. There was
put monetary reaction shortly after
the opening to mar the continuity of the
advance. The great wave of buying car
rled prices to levels hardly thought pos
SibIe- The stock, cotton and public Specu-
Iator In general are in this market and
the increase in trade is simply tremendous
ana carrying everything before it, and
there IS no telling what the end will be,
mere are strong speculative and legitimate
features in all the markets but the plh-
lie is chiefly interested in the wheat pit.
Foreign news is strong and consols fell
OH BIG. 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
Wheat-Wheat was again the leader
The news, although of little consequences
as far as the course of futures were con-
cerned, was bullish, both foreign and do
nestle. The cash markets eyerywhere
were materially higher. There was snow
through the Southwest, excepting in Kan
sas: Local receipts were 16 cars, with 35
estimated for Monday
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 moe
ment is hight One Northwestern elevator
company with nearly 200 stations bought
out 1000 bushels Friday.
Oats-The strength of deferred flu
lures was the feature in the speculative
IIarKet- Buylng was general and hard to
Iocanze. The cash markets were strong
says:
The London prices were again an I'M
TNrr11
from there and what originated in Paris
ana Berlin was unimportant. Our mar
ket was heavy in tone on a light business
throughout the morning Sentiment we G
bearish, but bear selling was restricted
by the absence of liquidation and the holt
day: An excellent bank statement was
Wlthout erect except SO far as it may
nave checked the declining tendency
rear OF the money market has not been
an influence in the recent decline and
cheap money alone will not prevent fur
ther declines in face of the unfavorable
business and political conditions The
close was fairly steady Foreign news will
De OF most interest during our holiday and
VIII possibly nave considerable bearing on
our market on tuesday.
j. G. Geraghty & Co.'S correspondents
say of stocks:
Randolph-The chief news Of the dav
was that the Paris market was in a nan.
lcky CONDITION. In fact the position of
various interests both there and in the
German market has become very dam
SeAOuS, OWinS 10 the heaVy fall in Rus
sian securities, and London rejected this
by exhibiting nervous and very weak
tone: The market declined with some
Iapldlty for time, but closed steady and
not far from the lowest of the day
Logan & Bryan-The market is a rene
titien. of the past two days. It is stiff a
surprising market in that the conditions
news, or rumors, from Europe are sensa-
tionaI Foreigners are sellers of our
stocks. There is an important professional
interest that is bearish and the market
In view. Of all this 1t holds surprisinely
We'll. 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.