The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-21

Good crop weather. less threatening
news from the promised British-R Russian
embroglio In the Red sea and good crop
news from the Red river valley led to
sharp break in July wheat yesterday
Other grains and provisions also were
carried down with wheat.
What the Brokers Say
NJ. Doran & Co grain letter says:
The increasing receipts in the South
west and the abundant evidence of free
arrivals of the crop in the next few days.
checked further bull effort and gave the
market a moderate reaction for the de-
ferred futures and sharp break for the
July options. Commission house. lquida-
ton was quite general throughout the SEES
sion Lower consols. coupled with the
tone of press dispatches relating to the
British Russian complications, stronger
cables and reported damage in Red river
valley caused the opening rally. AS the
session wore on the force of each of these
items was lost Consols more than regain
ed the early stump and Liverpool closed
unchanged TO 1sc up after ruling CSC to
2sc higher early in the session. Reports
from Red river valley We're conflicting
but the burden of the advices led to the
assumption that no serious damage has
taken place. A large Northwestern house
expresses the opinion that with favorable
weather the section in question will raise
as much wheat as last year and the bal
ance of the belt more. The weather map
showed general showers in Kansas Mis-
souri, Nebraska and Iowa. The forecast is
Tor fair weather and moderate summer
temperatures with possibly showers in the
south and West. The local cash demand
was light.
Corn sold off along with wheat Brok-
ers identified with the long interest were
thought to be selling moderately as OPP
portunity offered early in session. The
July option was the weakest, and the
December the strongest. Aside from the
cables reporting rain needed in Roumania
and the poor quality of local receipts
there was little to encourage the holder.
The demand for shipment East is slow
and moistur- in portions of the belt
coupled with the midsummer tempera-
lures. is just what is needed to push
growth. The sample market was kc
lower.
Oats We're largely sympathetic mar
1et. Trade was light and unimportant
and close showed fractional loss for the
day The cash market was weak and
firm 1c to &c a bushel lower Demand
Is limited. Reports from storm section
of Iowa state the loss is not great and
local and crop now Strengthening up. Cen
new oats this month.
Provisions-The market turned weak to-
Gay. Speculation is still light, but the hog
market was weak on larger receipts than
anticipated and consensus of opinion ia
Nors an early settlement of the strike. as
The position OF the men is thought to be a
weak one Estimated hogs for tomorrow
O'Connor & Van Bergen's correspondent
says of stocks:
NEW YORK. July Pot is said a we'll
defined impression exists in quarters
usually We'll informed that the market 8
strength is in great measure due to oper-
auons Of so-called Standard Oil clique, 1t
IS known these interests began to accu-
mulate stocks about the time Northern
Securities decision was rendered. 1t is
thought Judge Parker will very likely be
supported by these interests and as his
success would by no means be a bull ar
Sument the desire is perhaps to create
market to realize on before election.
Whoever it is that is engineering the adj
vance makes little difference one fact we
know. the market Is strong and has the
appearance of going higher. Union Pacific
has led the advance today, aided by per-
slStent stories of an out-of-court settle
ment of Northern Securities difficulties
and an early payment of dividends. Later
the SteelS We're again taken in hand on
large buying orders, the preferred quickly
recovered the point decline suffered since
yesterday. The strength of SteelS had its
usual SYMPATHETIC effect on Pennsylvania,
which also responded quickly to good buy
ing. London did not seem to be so much
disturbed today over the Russian Incl
dent our stocks closing strong.
j. c. Geraghty & Co.'S correspondents
say:
Logan & Bryan-Idle money eating its
head off. cheap dividend-p paying stocks in
Wiling its investment; faVora BILE crop
prospects. with every rational probability
of increasing activity in business with the
marketing and distributing of the grow
ng crops. are having their necessary eff
Ieet on the stock market. Investment
buylng IS increasing and the confidence of
holders IS by no means diminishing with
the steadily advancing prices. The init
NATION of Euronean war which tore up
the London market for forty-eight hours
made little or no impression. Now tina
It is passing away, however, its disap-
pearance adds a fresh stimulus to the
market More than month ago we tier
ated and reiterated our view that the train
was moving and that he who waited for if
TO stop or to back up would get left.
There are a great many people still wait
ing ana there are no signs of any i'm
portant reactions. We see very little our
selves to make one
Howard Lapsley & Co.-Market active
and strong, with Union Pacific and South
ern Pacific stocks a feature More general
business and a better feeling on ac-
count of favorable weekly government crop
it-taking. - -