The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-03-12
TRADING PICKS Up
WHILE PRICES SAG
Activity of First Hour Followed
by Periods of Stag.
nation.

The market was slightly more active
on account of sagging prices, but little
Improvement resulted, and after the first
hour periods of stagnation were not in
frequent The government report on crop
IeYeTSes was the principal topic of con-
VersatiOn in Wall street, as we'll as in
the pits Reports of reserves of S39. 000,-
600 bushels of corn created wild opening
in that cereal
What the Brokers Say.
NJ Doran & Co.'S Chicago grain letter
Wheat-The local trade was well fixed
for advance and had wheat for sale that
was bought to a large extent by st. Louis
of May, also new July. We did not hear
of any exports and it was reported that
milling business is unSa tiSfactory. Senti-
ment is rather bulliSh and closing firm,
but under top prices. 1t looks very much as
if a strong market will be seen for a few
days but strong support will be neces-
sary, unless there is succession of crop
damage reports.
Conc Iearances large and from July l
to date are $500, 000, with good export
demand at seaboard, but hard to obtain.
Large export business Thursday and farm
reserves of S39, 900, 600 created a wild open
ing, shorts covering freely and COM
mission houses buying, although consider
able realizing was seen. The talk was that
either Armour or Wall street were bulling
this cereal with the belief prevailing that
the former was the largest holder of
May. Some selling by Cudahy, but the
close. was strong, with sentiment bullish
and higher prices predicted.
Oats opened higher due to strength in
wheat and corn and farm reserves of
273, 700,0 GOO bushels. This amount was not
so small as expected and considerable
selling took place. Cash oats, 12@1c up.
J. c. Geraghty & Co.'S correspondents
say Of stocks:
Logan & Bryan-The market is not
quite SO dead as Thursday, but it is still
very dull. There is a scattered selling OF
stocks, which the bulls say is by shorts
and the bears say scattered liquidation. In
any event prices are a little easier all
around. Foreign markets showed a rather
better tone. The market has a dragging
tendency.
Paine, Weber &, Co-Sagging prices
made the market slightly more active to-
day, than it was Yesterday but little Of
great importance will have to happen to
start the market, and that may come in
the Northern Securities decision. Copper
is decidedly firmer. There is still good
buying for export account
O'ConnOr & Van Bergen's correspond
entS say of stocks:
While the market displayed consider
able more activity than yesterday the
trading was nevertheless within narrow
limits and. after the first hour, periods
of complete stagnation were not infre
Quent. The tendency of prices was toward
a lower level, with some selling by Lon
affecting speculation was again wanting
and the lack of demand was discour-
aging feature. During the last hour sell
ing by Gates & Co. was responsible for
some increased activity at the expense
of prices, and the closing was heavy at
about the lowest Especial features of
weakness We're found in Realty preferred
Metropolitan and Peoples Gas which
suffered sharp Declines the pending de-
cision in the last named being the only
cause assigned for its weakness.