The Saint Paul globe., 1904-10-01

Wheat was strong and nervous
throughout the session yesterday.
Stocks showed a widening tendency and
continued their upward trend.
What the Brokers Say
M. Doran d Co.'S grain letter:
Wheat was strong and at times eX-
CeediugIy nervous on a trade which was
largely local and professional. The milling
demand for winter varieties and the
doubt expressed Of the genuineneSs of
bearish attitude of the Northwestern mil
erS created 1aVorlng sentiment. The
lnaI bull trick which established the
dayS advance came IN a cable from Aus
JFaIia reporting markets there excited
ana shippers Offering nothing. The Mod
era Miller reports Illinois, Indiana and
the territory south Of Ohio river buying
supplies at accumuiative eenteFS and to
these districts we would add Michigan.
Indeed this buying by interior points so
early in the crop year and the premiums
commanded by both red and hard winter
wheat are features of the situation. Re
celpJS q Kansas City today but SO cars.
Northwestern arrivals are grading poorly.
which OuSetS TO a certain extent the
large receipts as mlllerS refuse anything
but the best. A good authority estimates
percentage or Nos and northern IN
South Dakota at 10 per cent. North La
kOta 20 per cent and Minnesota 25 to
30 per cent. Southwestern and Baltimore
cash adv1ces were strong. Liverpool was
-su TO sSd lower at close. Estimated re-
celpts FOR tomorrow, 6S cars.
Corn-An alleged Missouri state re-
port placing the corn crop at U.s.
100000 bushels and the fine weather
made a weak early market. Prompt de-
mai OF former by a stae official and
subsequent strength in wheat gave GER
tain hrnneSS to late market at about
yesterdays closing figures The Septem-
Der was an exception. ruling very weak.
In present state OF cash market there was
q disposition to avoid delivery While
The ShIpplng demand is reported slack the
export trade is at a standStill and for
elgn importer is not likely to show any
great anxiety as long as Argentina ship
ments keep large. Receipts in aggregate
We're light. Old corn offerings from coun-
try are small but selling Of new crop for
delayed delivery continues liberal and
hedging OF such purchases creates a
pressure on May. Liverpool closed I'D
lower. Estimated receipts tomorrow, 152
cars
Oats were firm for the deferred de-
inverness. W01Ie september went out a
shade easier. a fair investment demand
Tor the May appears on the breaks. Esti-
mated cars. 146.
Provlsions-There was a good strong
undertone to provision market with the
October buying. more especially OF lard
sui feature The influencing factors
are the cash demand and small hog re-
eelptS. The latter are expected to con-
rulue light and of Indifferent quality for
next thirty to sixty days Estimated
hogs tomorrow. S.00e
j.. G. Geraghty & Co.'S New York stock
adViCes:
Logan & Bryan-Even bull market
becomes monOUOnOus when one has to
Write every day about it. There is no
break IN the mOnOtOny and we see moth
ing 10 make one 1t is Just as sober and
steady as 1t has been at any time in the
past SIX months and its advancing
tendency is Just as uniform and unmis-
taxable. There has been no accumlIla .
ton of stocks in weak hands at high
prices IN sufficient quantity to justify any
danger signal Yet. The conditions and
prospects which have made steady ad-
vance Tor the past three months are Just
as operative today as they have been. A
market in which the volume of trade does
not exceed LOCO. 600 shares Der day is not
an oVerbOught market, and nothing more
Jnan- slight and temporary reactions are
likely
Randolph-After the opening this morn
ing the market was inclined to hesitate
ana developed considerable irregularity-
Before long however. heavy purchases Of
steel preferred advanced the price OF this
stock rapidly TO the highest prices each
cd this year. and its strength sOOIl COM
nunicaUed itself to the rest of the list
The result has been that We have had
practically all day a steadily advancing
market. the strength of which has nor
been connneQ 10 any one STOCK or any
group of stocks. but which has been very
general throughout the entire list. The
Hartman stocks have been conspicuous.
Union Pacific and Southern Pacific both
showing good gains on the day About
noon the entire list advanced sharply on
the sudden rise IN Northern Securities on
tle curb. due to heavy buying by first
class. commission houses Although all
reports of the settlement Of the contrO-
Versy between Hill and Hartman inter-
-esJs are denied. there Is no doubt that
feeling has been gaining ground that
whatever legal fight is on the personal
relations between the HiIl-Morgan in
-seFests on one side and the Hartman in
Jerests on the other side are perfectly
cefdiaL
O'Colulor & Van Bergen's stock letter:
Stock market has shown a greater ten
denCy TO broaden than at anytime this
week. Buying orders were not only we'll
scattered throughout the list, but also
were placed IN large volume with the
leadeTSsain the upward movement, of
WHICH none are more conspicuous than
St Paul. and Steel preferred. Close oh
servers in the activity in Rubber Goods
f{rfnk IL Verv indicative Of Mr. Keeae' s
Cnl1ing an active parEs also elsewhere IN
tire list. Report now has Il 70 account
Ger strength in Steel preferred that a
prominent steel man has been caught
short OF some 50,08e shares and they
arc making him pay we'll for his stock.
Tho indicated loss by the banks this
week now amounts to some SIS. COO -000,
tic activity IN speculation alone suggests
ar increase IL the loan accounts, so we
are in all Likelihood in for a rather poor
Dank exhibit tomorrow
asaulhere was general tone OF strength
IN tho market today but strength rather
-f3seffy- distributed Early, features were
Steel preferred. which was heavily bought
4l1Tn e1e opening Persistent ruEoTS of
conversion OF stock into bonds were cur
rent hIlt whether true or untrue the IA
VOrable and growing sentiment towards
this property based upon the belief that
Ii has survived It's critical period and
that dividends are reasonably certain is
sufficient TO account for the disposition
to buy and the limited desire to sell. Con-
solidated Gas WIS another early feature
ia q good advance on expectation, proba-
SIv VOL founded. Of an advance In the
5fVilieade rate at next meeting. Union
pacific became active about ncon stin-
ulassd in part by the sharp advances in
Northern Securities and other railroads
falE5Wed the lead and closing prices were
BtrOng at or aboEt best prices. Iudsca-
tion Of a poor bank statement was ig-
nared. Southern Railway was a shade
higher. bllt not notieeaAly Sc fc- the
closing day OF The month.