The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-09
MARKET Dull AND
PRICES SAGCING
Speculative interest Too Mar.
row to Sustain Improve
ment-Wheat Is Weak.

The opening was fairly steady within
fractional changes from Mondays clos
ing, and with spots of some strength
the market soon fell into dullness with
Speculative interest too narrow to SuS
tain any improvement, and prices sagged
after the first hour. An occasional at
tempt to either buy or sell was response
BILE for fractional fluctuations. but en-
cOuTaged no following, and the market
was liStless. A report that the Pennsyl-
vania was about to issue additional Sc
curities caused selling of that stock, but
the price was maintained. The wheat
market went to pieces and continued
weak till the close.
What the Brokers Say.
NJ. Doran & Co.'S Chicago grain letter
says:
opening the market showed promise of
doing better, but it was short lived. A
prominent professional forced prices down
catching most of the local trade long
Then selling ran into stop orders and the
market literally went to pieces, the weak
ness continuing until the close. Foreign
markets We're all lower. Liverpool re-
ported some Improvement in the Argen-
tine strike situation, but our direct adj
vices We're to the contrary. Hamburg
sent some unfaVOrable reports in regard
10 the German crop Winter wheat news
was buliSh, the map showing no precipi
tation through the Southwest, and there
were some complaints to hand of urgent
necessity of moisture. Receipts at Kan
scale. compared with a year ago, but
shipments were even heavier. 1t is worth
while noting this relation of receipts to
shipments has existed some time. Out
wheat and flour demand on the break.
Outside markets did not fully respond to
our weakness. Minneapolis and Duluth
in particular ruled relatively strong. The
Seaboard reported Il loads taken for eX-
port Liverpool closed 5s@%c lower.
:. Corn-Up to the last hour it looked as
If corn would repeat Mondays experience
and maintain its strength in the face of
weakness in wheat. May was strong, sell
ing over lie higher. Towards the close,
however. prices gave way, particularly
sure. News was rather meager Liverpool
y to q higher. The weather is mild and
rather against any immediate improve
ment in grading. The Seaboard reported a
little better demand for cash on break
receipts at primary points were ID less
than year ago. Local market steady for
mixed corn and from 1c to Sc up for
Oats--The experience in oats pit was
repetition of that in corn Offerings were
light during morning, but buying was
on no such scale as Monday. Cash mar
ket was unchanged to 19c up; % cars and
10000 bu of the standard were transfer
red from private houses.
OConnor q Van Bergen's correspond
ents say of stocks:
Foreign cables reported a better feel
ing abroad in the late morning. and stat
ed that buyers We're more inclined to
enter the market. but at the same time
London was selling here moderately, dis
posing of about 10000 shares. Our mar
ket opened quiet but steady, and in the
first hour the tone hardened somewhat
although dealings were on a very light
scale There was a rumor started about
midday that the Pennsylvania was in
the market for about 500 600, 900 money
and and on this the traders started a sell
from y to per cent. Later the rumor
was denied. but the market did not rally
on the denial In the last hour the mar
ket weakened further and closed heavy at
about the lowest of the day, Y to 1 per
cent below last night.
j. c. Geraghty & Co.'S correspondents
Logan & Bryan-The market is a lit
tie easier all around. There is not much
doing except in spots. There was some
selling of Pennsylvania on the rumors of
further issue of securities and some buy
ing of Mexican Central Generally speak
ing: however, the market is just dull and
waiting developments. Foreign markets
are all about in the same position and
show no improvement from the recent
depression. This is about all that can be
said of the situation.