The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-07
Doran & Co.'S Grain letter:

what the Brokers say
NJ Doran & Co. s grain letter:
Wheat-There was no change IN the
tone of wheat. Market continued weak,
particularly the December which broke a
further &c a bushel: Buying, was wholly
by shorts satisfied with their profits
News was limited and of little influence
Liverpool opened easier with q further
slump towards the close making a loss
Tor the day OF 9s q sd receipts IN the
Northwest and total at all primary points
were large Kansas. City reported slack
cash demand, and there was little OF en-
enlargement to buyers in the Northwest
ern news, except fair sales of -four made
yesterday, Manitoba estimates being
raised as result of better threshing re-
turns
Country movement in spring wheat belt
is falling off, but interior elevators are
rushing wheat to. primary. markets and
no immediate decrease in receipts IS
looked for. Estimated cars tomorrow. 48.
CoIn-The inevitable break occurred to-
day. the May declining over &c. a buShel
at one time, with small reaction towards
the close. The December was relatively
firm. The frost shown on the morning s
map and that predicted for tomorrow did
not affect sentiment in the least. The
trade has evidently come to the conclu-
sion that the. crop is made, and it is a
large one. Every buShel of long corn
now shows a serious loss. Forced selling
was feature throughout the session.
There is still large line to be liQuidated
and this is the weakest factor in the spec
ulative market. The country selling Of
new corn continues and purchases were
even made of the old crop, which; may be
taken as rejecting views of producer
The Missouri crop is officially estimated
at 10 0O0,O 600. with a gain OF points IN
condition past month. The Price Current
places the total yield at upwards of 2,400,
000, 900. Sell May corn short in prefer
ence to December. which is liable to be
affected by scarcity of old corn and pos
grading of new crop. Liverpool sd lower.
Estimated cars. IS.
Oats followed corn with more or less
early selling by cash houses. On break
there was fair demand for May. We
consider the weakness in oats largely a
sympathetic one and do not look for any
serious, break and would prefer buying
on weak days. Estimated cars 112.
ProvisionS-The trade was rather slow,
but market was firm, led by good buying
of lard by one of the influential packers.
decrease of 1900 bbls pork, 10000 ties
lard and 10, 600 lbs ribs. Estimated hogs,
IA, 600
]. C. -Geraghty & Co.'S New York stock
advices:
Logan & Bryan-Market shows little
less activity to-day, some hesitation and
also a little iITegularity. The reactions
are, however, unimportant and denote
nothing more than scattered profit taking
on a moderate scale The public is grad
ually getting in and gradually accunu-
lating holdings. They are not, we think,
yet sufficient to make anything more
weak spots stocks are still well bought
and confidence still expanding. We see
nothing in general conditions or prospects
yet to invite look at the other side of
the market. Pauses and reactions are of
course possible. We look for ultimately
higher prices. 5.e-e
Walker Bros.-The market this morning
started off with considerable strength,
Southern Pacific on much higher Lon
don price showing especial buoyancy.
Towards the close under strength in
. ID TO,r,el II varr f1A,Nyan
was heavy realizing in the rest of the
market which continued until the close,
which was at about the lowest price of
the day. The steel stocks showed the
effect of heavy realizing sales There
was no news of special Importance and
the decline is but a natural reaction from
the high prices of the past two days.
O'Connor & Van Bergen's stock letters:
With the exception of Reading the mar
ket presents little new. The strength of
the stock is accompanied by very conf
dent talk of higher figures, based Rrinci-
pally on the scarcity of the shares and
the idea that important interests familiar
with the property are gradually accumu
lating the floating supply, basing their
judgment on the intrinsic worth and what
the company is now and has been earning
for several months past. In other parts of
the list there Is fair degree of strength
In places, but taken as whole the mar
ket has had sort of weary look, opera
tors being more inclined to rest after their
recent activity and count profits perhaps,
rather than take part in each little stir
which puts in an appearance.
The volume of business fell off today
and the general tone was easy with the
tendency toward lower prices held. in
check by strength in Specialties such as
D. & Il. on rumor of lease at per
cent, and in Reading of a dividend in
January. The trading reflected a two
sided sentiment with disposition to sell
somewhat stronger than that to make
new purchases. This became more pro-
nounced in the last hour when the tone
was heavy. Indications accumulate that
this bull movement as a whole has cul-
minated and reaction is in order. The
distribution of stocks in past three days
is sufficient cause in itself, but in addi-
ton the possibility of political scare. be-
tween now and election is receiving more
= consideration. The close was Soft at
about lowest prices for the. general mar
- ket.