The Saint Paul globe., 1904-10-27


the stock list was about to break, and
while several issues lost appreciably on
the day, the close was fairly steady.
What the Brokers Say
M. Doran & Co.'S grain letter:
Wheat was again nervous, with trace
wholly professional The early rumor OF
a sale to millers of 250,000 bu of hard
wheat, which was confirmed later, gave
prices a substantial upturn at one time,
but advance lost the last hour, when mar
ket developed a very weak tone, selling
considerably below yesterdays s closing ng-
ures The cash news on the whole had a
little better tone. Minneapolis reported a
better demand, Omaha advises sale OF
No. 2 hard equal to 81. 21 here, and kan-
sas City values for same grace are Nh on
a basis of 81. .16 to $1.16A. Chicago. The
ruling prices at outside points hold no
hope of an accumulation of cheap wheat
here. The movement was lighter than a
year ago, both in the Northwest and In
aggregate. We have had a pretty sharp
slump in wheat the past few days and
think it purchase. Liverpool was Ad
higher Estimated receipts for tomor-
row, rs cars.
Corn-The early jump in corn, more
especially in December, may be attributed
to realization on part OF shorts OF the
significance in view of limited supply OF
the urgent demand today for old crop for
shipment at big premiums Another fac
tor at the outset was the strength IN
future and spot markets at Liverpool,
the advance in cable offers for Novem-
Der shipment and strong tone permeating
the market adViceS. Prices gradually
frightened as reports of further sales at
larger premiums came in. -Four and three
eightIS cents over the December was
realized on one lot and &c over C. /. t.
Buffalo was paid for No. yellow. IN
cash crowd every car of the light recelpI5
was eagerly taken, the market ruling
from 1sc to 1c higher. Receipts here are
hardly sufficient to supply local consump-
tive demand. The firmness in May was
sympathetic. The discount under Decem-
Der widened to 37sc at one time. Weather
conditions are entirely satisfactory. Husk-
ing returns SubStantiate the larger crop
estimates. Country offerings of old corn
are nothing. but are freer of new crop
for deferred shipment. Don't be short OF
December under existing conditions. May
VIII Sympath1Ze to some extent with any
advance in the near deliveries. Liverpool
closed q 01hd higher. The spot market,
after. opening Id higher closed unchanged
to I'D higher Estimated receipts, 62
Oats-The interest taken was small, but
the tone was firm, led by the December.
The pit crowd favored the bull side. Re
ceipts were light everywhere and a fair
shipping demand exists. Receipts sold at
nc to 1ac advance, with the shipping in
terest the chief buyers. Estimated re-
Provisions-The market was irregular
on a light trade. The early selling was
by commission houses. based on the large
run of hogs and 10c break at the yards.
Local operators covered. rallying the entire
list. The close was not materially
changed from yesterday. Estimated hogs
tomorrow. "a. 600.
J. c. Geraghty & Co.'S stock advices
Logan & Bryan-The market is holding
strong. So far we doubt If there has been
much pyramiding. The volume of business
has been large for some time and stocks
have been distributed very we'll. While
we believe in higher prices later on oWs-s
ing to sound business conditions, inproV-
ed demand for steel and iron and large
export business for corn, steel and copper,
we feel, in view of the large advance We
have had without any setback that one
should be cautious about buying at the
top. Reactions viii come on which we
would buy good stocks. The political sit
uatiOn in this country cannot be called a
factor.
Northern Securities opened lit, high
117zs. low 115%. last sale III, closed 116%
Q117A. Sales 5000.
Paine, Webber & Co.-Our market was
again broad and active, with prices prac-
tieally unchanged from last nights close.
The exception was Old Dominion, which
advanced 312 and closed at the top. Both
the Boston and New York markets had
the appearance of being very weak, but
the way prices stood up shows that the
buying is good. The majority of peo-
pie here are very bullish on the situation,
but most of them have sold their stock
and would like to see reaction in order
to get in again. The feeling was strong
on the metal situation, and that will pre-
vent any extensive break in the copper
stocks and that any further rise in cop
per win put prices higher than they have
yet been. Do not be afraid to buy any of
the good copper stocks whenever weak.
Dick Bros.-The market has been ex-
tremely cratic today, with violent re-
coveries following still more violent
breaks. At times the whole market was
very weak, but at critical times it re-
covered support and was rallied. One of
those rallies was in progress at the close,
so that net changes. were Irregular and
many of them small. Favorable advices
regarding the British Russian situation
served to help sentiment somewhat In
the afternoon, similarly the absence of
further gold engagements and the con-
tinued ease in money strengthened bull
liSh confidence. The most conspicuous
shares We're Union Pacific, st. Paul, Steel
preferred and Rock Island. The latter
made very sharp rally in the late trad
ing Atchison and Missouri Pacific were
strong at times, but closed unchanged.
Very heavy selling was seen in Erie and
O'Connor & Van Bergen's New York
stock letters:
dealings have been suggestive Of more
or less uncertainty in the minds of both
the trading public and those who have
been mainly. instrumental in bringing
prices to their present level. The market
cannot be called weak; in fact, only in
spots was any lack of fiTnness of under
tone noted. Mr.. Hill made rather con-
serVative remarks this afternoon, checking
a rally just starting, but had no other
effect as his views Were already known
and his denial of any Northern Securities
settlement has been MADE several times
before. We are advised by people who
have foreign connections that much
easier feeling has developed abroad as
the day passed as regards the North sea
incident, and it is already being forgot
ten as a speculative influence. General
conditions have not changed, the market
has had a good shakeout and once as
zsured that the European cloud has blown
over, we believe stocks can be taken
back moderately On all recessions with
chances well in favor of making sub
stantial profits, perhaps quickly.
Van Emburg & Atterbury- The mar
ket was very active, with frequent f1uctu-
ations and a general tendency to lower
level 1t opened on higher London prices,
made from here, advanced further quick
ly and made a better basis for a selling
movement. which assumed large proper
tions during the morning and caused a
sharp decline. Throughout the day the
tone was in marked contrast to that which
has prevailed for several weeks. Rallies
We're feeble and met stocks. Reaction
was not unexpected and was due to the
weak speculative conditions caused by
the indiscriminate speculative buying of
late from sellers of excellent character,
and further wedding out will help the
situation. There were several exceptions
in the last hour to the prevailing tone.
OF these Rock Island alone can be said to
have eXerted an influence in steadying
others. The close was irregular and rath-
er fiat. as a rule.
New York Butter
NEW YORK, Oct 26-Butter firm: un-
changed; receipts, 6,291 pkgs; street price