The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-26
What the Brokers Say

The stock market. Was WHO ana lrFeSu-
lar. with Vanderbilt properties in the
lead. 49, 49,
What the Brokers Say
M. Doran & Co g grain letter:
Wheat was = decidedly irregular on
trade which was schofly profess iondl- The
market was off early on Indifferent ca
bleS and a total absence ofEany signs of
anxiety abroad over political situation.
About midsession it gained strength on
disappointing reports from the Northwest
relative to yield and agaiitgaand Tenewea
threshing and threatening further dete-
rioration in quality Liquidation of early
purchases became the feature the last
hour. and the market closed weak at q
sharp decline Local cash demand not SO
brisk and. inquiry for flour was reported
less urgent We are bulls on wheat, but
reactions similar ito today must be ex-i
pected from time. to- time. Liverpool I'D.
higher. Estimated rece1ptS1fOf duno1TeN.,
80 cars.
Corn-The urgent shipping demand for
old, No. corn was 5the feature OF the ses,
sion. One hundred thousand bushels sold
early at 3A over December in store and.
soon after 63zc over c. Buffalo was
bid, which is the equal of 4Ac over IN
store here. This very naturally created -un-
| easiness ON part of December shorts IN
Stocks to The tetaiD iaefas 1870 reasiy 7aaao9.
bushels last week. bringing local. supply
in ali positions down fo-12 646, e9o.s In
Liverpool the old crop isiF6a ton is much
the same j. Cable aaeta tiops for shipment
to make December delivery are Al; to 4lsd
tsand first half of JanuaTyt shipments, re-
spectively. The few cars aQf new. corn ar
irving here, while goSd IN quality, snow
weather. and until we have had a period
of such conditions no great amount OF NO.
! may be expected in the arrivals. Pre-
xailing conditions are fsysGselsss; q 5, are
ers indicated ie in the SiaiS Valley Buy
the December on. the tFgept dema nj zan nc,
the scarcity of old crop Supply, but sell
May on large crop are the i .a 1oa ga 81 =
to sd higher. Estimated lreceipts foreto-
morrow, 81 cars. s47fTsYe @-.s--s.s-. p
Oats were firm, refecting in: part 1he
strength in. corn and in part the decrease
of ]. 100000 bu in local stocks last week
and small decrease OF 347 600 bu in, Brad
street. visible compared. With recent
but sparingiy and we have doubtless
touched the top of movement. Inc. CASH
market was nc higher. Estimated cars
So; -. - -, ,s 49, - ,, ,,s.
| than expected and Sc to- Zoe break at
the wards started liquidation in prQvisiQns,
which closed entirelist at loss. Esf llla1
ed hogs tomorrow, rs 900. -e>ftt,
Z j. C. GeFaghty 81 Co. IS stock adVices-
Logan 10 Bryan-As this is prebxiay stAe
Hast stock letter / shall write 3yeu,l perffh
me to take. this opportunity to congratsn Lir
I
some months past l have not .misled e.. 10
the probable course of the market It has
| seemed so clear, to nae: that all the condl.
| tioIls were favofaBle-to higher prices that
Ii have felt perfectly safe in epredietins
fsthein 81 do not thinlS 9fIa5p1 he market
has yet spent itss foRce AaA that aflre etlons
/ The great mass of dividend paying STOCKS
| are still worth more as an InvestHeHs
| than the money in the banl1.ss The tide OF
general business activity has turned and
| all the conditions which govern and make
! it are favorable to its continuance ana
| growth. = A movement like. the one we
| have had and are now having almost never
| stops at a "a tiopat Stepping polnlI[1FH goes
|, too; far. do not think that the TOO Ia
| point has yet been reached. ageAll through
| the; summer predicted that the waiting
| list of investors would get left Fine: only
| change of view I now have is that the
waiting list will have its chances me
! daily trade in stocks is up around 2,aO0,-
| 600 shares. This represents a GOOD deal
/, of conservative profit taking and more or
| less accumulation of stocks IA the names
| of temporary holders. There is also an
| increasing contribution of stocks that were
paid for by small holders everywhere dur
| ing the decline and low prices OF a year
ago These holdings are now coming on
/ the market Election day IS fast approach
| ing. Certain as the result seems, yet 1t
will make some liquidation with timld
holders. Practically tine only change OF
/ break on which to buy~stock during the
past four months was wrong, but ne VINO
waits to buy stocks onAa break now VIII
be likely to have his expeetia tions realized.
/ Dick Bros-Teday $ market has been
very wild affair. In the early trading there
was further aggressive -olfylng, ana Win WIN
Union Pacific in the lead the whole list
| advanced sharply In 2the7 afternoon the
buying power seemed tor become exhaust
ed and realizing salesS started decline,
which before the close became real
! break. The selling Increased as prices
| went down and numerous stop orders We're
reached The break in leading stocks was
| very sharp and all OF the carrier gains
| There was no foreign news of importance.
Paine, Weber & Cp.-Ev5The market con
tinqed today strong and active, the enIIe
| list being traded in freely, but at a slgnt-
| Nv lower price, with the exception OF At
| lantic which sold at ar -tew high price.
| The local traders hereare taking CONSIDER
able interest in the Isle Royaie oeFeiop-
ments and are very favorably. inclined to-
wards Atlantic on that account. Copper
Range opened strong at Co. but later on
| the weakness in Amalgamated declined.
! The price of copper in New York was ad-
| yanced again today and the situation
! seems to be getting stronger daily. On
any reaction the copper stocks; are good
purchase. -
watson & Coin spite of strength in
special issues the market has not acred at
all well this. afternoon. In fact deelines
Il
and have been unexpectedly serious. Ar
| bitrage houses reported a Hood or New
/ York long stock in London on the. ad-
vance in United States Sfeels and there
was some vigorous selling here, winch
results show was not well taken This
| was of course an appropriate day Tor an
advance in United States Steel issues. Al
though the buying did not look very I'M
pressive, the following :in7.the different Of
| fees was Enthusiastically extensive. The
street is full of optimistic rumorS as to
| fbe showing the corporation will make for
the quarter Most of the large buying
of Union Pacific has been by houses with
foreign connections without doing an ar
mirage business. The tape has been say
iner The Northern Securities matter Is set
fled. while everywhere else it is denied.
| Van Enburgf & AtteTbury-On enor-:
mons trading in a few stocks market was
/ excited and higher this morning stimu-
lated largely by vagueoand irresponsible
reports of a settlemeptf of the Northern
Securities matter. The feature was Union
Pacific. 1t was bought over night in large
amounts in London on ,QFdeTs FROM this.
! side and our market Opepeu on Eondons
advance. Other stocks sytnpa thized more
or less and on the sustained strength Of
Union Pacific a greatI amount of real
izing sales OF excellent character were alb
sofbed though with sqFae- irregularity in
prices This selling contlhped in such vol=
ulne that in absence of any news to con-
unequal to supply and prices yielded un-s
der steady pressure up 80 slhe close when.
fha tone was heavy. Unexpected engage
mert of gold was of little. or no infiuence
as it was considered q; special TRANSACT
ton. If special induGaNents are con-.
tinued shipments mayo Ieaen important
amounts, SO Tonga mdaey rates continue
= an, ,space.t,f r1Il11s,fJ all fjfafffS