The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-04
GRAIN MARKETS
SHOW STRENGTH
Wheat Advances Slightly in
Sympathy With Corn
and Oats.

Wheat trading on the Chicago board
was limited Saturday by the short Ses-
sion and the holiday abroad. The market
opened strong IN sympathy with the ad-
vance in the coarse grains. but before
the close eaSed off on bearish crop re-
ports. The cash situation remains firm.
Corn continued its advance. aided by the
Armour bull movement. Trade was no
large and some prOfit-taking was ap
parent. oats opened strong, lead by corn.
There was some good buying by shorts.
There was some strength evident in
Saturdays stock market. In antiCipa
ton OF the regular quarterly dividend in
Steel preferred shorts sought cover. There
vas some good buying IN Union Pacific,
St. Paul and Southern Pacific. The bank
statement was favorable.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says.
Wheat-A short session and the holiday
abroad limited trading to local operators.
The market opened strong in sympathy
with the coarse grains, but eased off on
bearIsh crop reports and in spite of i'm
proved cash demand. The Minneapolis
market was inclined to be weak and -four
demand was poor. Our stock Of contract
Is decreasing rapidly and will soon dis
appear if sales continue at the same rate.
This VIII, of course, affect the old July
more than anything else.
Corn-COrn continues its gradual up
ward movement, with the assistance of
Armour. Trade was not large and rather
nervous, and IL was thought some corn
was SQIQ Tor the QUIZ account on the dQ--
vance. The news was Scant, and the
bull items were an Odessa cable report
ing small receipts. The sample market
for corn from Nebraska was 12c higher.
Oats-Oats started strong, mainly in
fuenced by corn and by pretty fair buying
for the short account. Pit operators were
inclined to the bull side. influenced by
the increased shipments noted for the last
fOrty-eight hours.
O'ConnOr & Van Bergen's stock letter
says
The past week has been one of rumors,
In which all principal issues have been
mentioned. Besides much talked of Union
PaCifc-St. Paul alliance, We have heard
New York Central was to form a link in
new Ocean-tO- ocean fast line PennSyI-
vania was at the head of AtChiSOn Rock
Island and Missouri Pacific were tighten
ing their hold on allied properties, etc. All
were officially denied and considered ride
UlOuS. They served to remind one, how
ever. Of good old days Of 1900 and 1901
when deals Of the kind flew thick and
fast Advances have so far been con-
fined TO few stocks. Wednesday and
Thursday a broadening tendency was
noted with much satisfaction. It does
not look as if Union Pacific accumulation
deal was over yet. and if this is so the
market declines will be but reactions fol-
lowed by advancing tendency. The bank
statement was more favorable than ex-
pected in its large showing Of increase in
cash.
J. c. Geraghty & Co.'S correspondents
Bache & Ca fair amount Of strength
was evident in the opening dealings, not
withstanding the fact Of a general holiday
abroad. Short covering in Steel pre-
feTred was responsible for the improved
tore in the general list. The advance
was interpreted as foreshadowing the
declaration Of the regular quarterly divi-
dend next Tuesday Renewed buving an
peared in Union Pacific, st. Paul, Southern
Pacific, ard AtchisOn.
BrOwn-The market was dull and fea-
tureless, outside of a small volume of
profit taking and evening up there was
practically no business to speak Of The
undertone was fairly firm, but owing to
the absence Of any selling pressure this
Of the market. The bank statement ex-
erted practically no effect The loans were
somewhat larger than generally expected,
but the statement on the whole was re-
garded as being a little more favorable
than had been looked for.