The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-26
ANOTHER RALLY LED
BY UNION PACIFIC
Demand, However, Does Not
FoIIowAdvance, andMarket
Becomes Inactive.

Another rise of Union Pacific led rally
In the market after the first hour, but the
demand did not follow the advance and
the market became inactive. In the last
hour the narrowness of speculation in
Tited some further selling by earlier pur-
chasers and bear traders and the close
was somewhat heavy. Wheat was strong.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says:
Wheat-The market was strong during
the morning on the same bullish influence
as Thursday. The wire service was poor
and trade limited on that account. To-
wards the close there was proht-taklng
by the local longs. The sentiment is still
universally bullish. The cash news was
strong. No 1 northern sold here at May
price in quantity. This is &c higher than
Thursday Minneapolis reported a good
cash trade and higher prices, although
mills are closed. Kansas City anticipates
a decrease in stocks as a result of high
er movement and excellent demand from
Eastern millerS and from the Northwest.
The Snow report was the most bullfsh
feature of the crop news. He says: Gen
eral promise is poor and low condition in
Dictated for April /" AdViceS from the
Ohio valley continue unsatisfactory and
the Modern Miller takes a rather pesSi
mistic view OF the prospects in that sec
ton. Rain was general throughout the
wheat belt west of the Mississippi, and
the cold wave predicted was not realized.
Liverpool was strong, partly in sympathy
of poor weather for seeding in the Argen-
tine. Liverpool closed 1a@%d higher
oCleearances for the week, 100000.
COrn-The main factor in the corn
market was the Armour buying of May,
which totaled in the neighborhood of 700-
, 900 blu. The July moved up in sympathy
and on some local buying based on reports
from Southern Illinois of the poor condi-
ton of criDbed corn. AS soon as the May
support was withdrawn prices eased off
sharply. The cash situation does not i'm
in ~ Low Nov i- OH
lutely no demand. There were 10 cars of
contract corn in today's receipts and 3d.
600 were made Thursday. The local mar
ket was from 1c to 11Ac- higher. Liverpool
closed 12d higher.
Oats-The market moved up rather I'M
willing along with everything else on the
floor. There was fair buying early in the
way of covering, but the advance found
considerable oats for sale. There is no
new feature to the situation.
Our Evansville house reports oats in
that neighbOrhood all in and acreage
larger than usual. The cash market was
up, with the futures ruling from 7ac to
11ac higher.
O'Connor e Van Bergen's correspond
The market has been one of great ir-
regularity and without any definite tone
for more than short periods Opening
quiet, without material changes, prices
sagged, and some efforts were made to
depress quotations on rumors of suits to
be instituted against Northern Securities
company. The class of buying, however,
was considered good and liquidation in
very small volume, and after the first
hour, under the lead of a sharp rise in
Union Pacific, the general market rallied
with considerable activity. The demand
did not follow the advance, and again
prices yielded, and the market became in
active, slowly recovering a part of the
decline. In the last hour the narrowness
of speculation invited some further sell
ing by earlier purchasers and bear trad
ers, and the market closed quiet and
somewhat heavy, though with better de-
mand at the lower level. The final prices
were generally little changed from last
night and the trading without character
and dealings altogether professional.