The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-07-13

The following grain and stock letters
were wired yesterday to st. Paul brokers
by their New York and Chicago CORE
Spondents:
n. Doran & Co.'S Chicago grain letter
says:
Wheat-The position of the July short
Is an extra hazardous one, and many of
them appeared to fully appreciate it.
Both options are nervous on compare lively
light trade influenced by very small stocks
of contract and decreasing probability of
the situation. The July government re
port indicates crop of 6S5, 000. 600. AS to
the result of the continuous rains the gov
eminent weekly bulletin, the first official
statement on the subject says: The crop
has sustained great damages in Nebraska
Missouri, Kansas and Oklahoma. New
No. red was sold at $500 for Is days
Shipment All these items serve to in
crease the bulliSh sentiment, which has
been steadily growing for a week past
Northwest news was quite generally favor
able and the weather present and fore
cast is on the whole satisfactory. Foreign
news not taken into consideration.
Corn-There was much in the situation
TO justify lower prices, but the market
was sustained by the strength in wheat
and the bulliSh attitude of pit operators
The government figures indicate crop of
nearly > 400. 400, 600, and the weekly bulle
tin says the crop has made vigorous
growth over the greater part of the belt
Provision interests proved the best early
supporters The weather was favorable
and the situation in regard to the move
ment and demand is not materially chang
ed. The cash market is steady for the
better grades.
OatsSThere was but moderate trade
and no particular feature. The July was
firm while more distant options were in
cllned to sag. The July report shows
some Improvement in the condition of the
crop and the total indicated is S19 600 600.
Since these figures were gathered the
specially in Northern Illinois. The cash
market Is steady 10 a shade higher
OConnor d Van Bergen's stock letter
Influences affecting speculation were
practically altogether favorable to adj
Vancing prices. but our market opened ir-
regular and soon became heavy in tone
on selling for both accounts Traders
We're inclined to look for a further reac-
mucn long stock, and on the decline the
market became dull with indications of
more resistance to pressure, and in the
last hour on attempts to cover by early
sellers a strong tone developed and prices
advanced sharply throughout the list The
government crop report was favorably re-
celVed and reports of earnings of United
States Steel corporation for the quarter
We're expected to show material improve
ment; Time money rates, while not ma
terially changed. showed a rather firmer
tone with some increase. in demand The
market closed active and very strong at
the top prices with buying by traders and
cheerful.
]. c. Geraghty & Co.'S correspondents
say OF stocks:
Logan & Bryant is a good market. A
little liquidation Monday left the market
with hight offerings. A good government
report on crops added a little stimulant
10 confidence and renewed investment
buying set IN. 1t is just the same kind
OF market as heretofore EXCEPT that
the waiting ones are getting tired of waits
ing and the buying interest is increasing.
IL Is predicted that the dividend on Steel
preferred viii be maintained and that the
coming report will show an increasing
business. We look ourselves for a mod
crate but persistent expansion in BUSH
ness generally for some months to come.
and thlnk the stock market viii continue
DICK Bros.-The market has broadened
out with a greater proportion of commis
sion business than has been seen in recent
ntli Is The Reading stocks and the
ltan recovered some of its loss We
SUI favor the long side of the general