The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-04-19
MARKETS SHOW No
SIGNS Of ACTIVITY
Grain Trade Is Dull While Stock
Operators Wait for Courts
Decision.

The following grain and stock letters
We're wired to St. Paul commission brokers
yesterday by their New York and Chicago
correspondents:
NJ. Doran & Co.'S Chicago grain letter
says:
Wheat-There was considerable activity
in the pit with numerous fluctuations
within a narrow range, the changes re-
Sulting always from the position on the
market Of the local trade. The North
western markets We're weak relatively re-
1iecting the more springlike conditions pre-
Valling Sunday and the more optimistic
tone of country adVices. The Southwest
ern markets, on the contrary, were rela-
lively strong. There We're some COM
plants from St. Louis. The secretary of
the Kansas Grain Dealers association
says that the western quarter of Kansas
viii not rdSe over % per cent of last year 5
crop. The Oklahoma Millers' association
estimates condition of new crop in that
territory at so, with per cent of old crop
left over The September option was
relatively the strongest, the difference I'M
der July narrowing to &C.
COTn-The trade was devoid of any
feature to relieve the dullness. The bull
party did no active trading either way,
and seemed disposed to sell May. Re
ceipts We're a little larger. and grading
not so good. Private houses contributed
65, 600 bu 10 contract stocks. The cash
market was stronger, ruling about 1Rc
higher. There seems to be nothing in
the situation Offering any encouragement
to the bulls. Liverpool closed unchanged.
Oats-The October market acted much
like corn. Values were rather on
The tone of wheat and on disposition OH
the part of local shorts to cover. The
offerings Of May were noticeably light and
that option was relatively strong. The
market was up from 1a@1c blu.
J. c. Geraghty & Co.'S correspondents
Logan & Bryan-The market closed
steady. 1t opened fairly firm, showing
slight advances over Saturdays close
Aside from an early advance in Con
70 of Il in
Pacific no change worthy of note. The
break in Union Pacific forced some sell
ing Of the general list, but traders I'M
able 10 make much impression on prices
The market is a waiting one and until
the Northern Securities matter is out OF
the way We do not look for any activity
We believe the market will run along
very narrow lines and profits should be
taken when in sight.
O'COnnOr q Van Bergen's stock letter
SAYS:
The market was practically without
feature, except perhaps extreme dullness
The Northern Securities matter still
dominates, holding speculation in check
and preventing clearer insight into fac
tors governing the future of prices. The
market naturally sagged. from selling OF
discouraged holders and uncOVering OF
stOp-lOSs orders on declines. The figh1
for control Of the Northern Pacific Is
the principal factor in the situation, be-
cause Of its possible effect on Union Pa
cific and allied properties. No one seems
to have determined what the decision
will be or, whichever way it goes, the
probable effect on the market. The stu
alton is really about the same as 1t was
before the first decision was rendered
Several large houses recently conspicuous
as buyers while talking bullish have beer
letting go a few stocks recently. The large
additional gain Of some So 600, 900 by the
banks since Friday gives further evidence
of easy money for some time. Foreigners
are doing little either way. The marke
IS apt to drift along within narrow limits
until something definite is determined az
to the Northwestern railroads and some.
thing more authentic is known to crops
than has yet come to hand.