The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-06-22

The following grain and stock letters
were wired yesterday to ST. Paul brokers
by their New York and Chicago CORE
spOndents:
NJ. Doran & Co.'S grain letter says:
Wheat-BullS and bears both had a good
inning. The market started strong on
t1rmness in cables and rainy weather
west and southwest. The latter soon
ceased to be bullish influence when it
was understood that harvesting districts
had escaped the precipitation. The fore
cast indicated nothing unfavorable for
Wednesday. Bear items came in rapid
succession and the market sold lower.
The Kansas crop is estimated at SO, AGO.,
coo. compared with production of 81 200,
when prices We're at the days low point
and started rally. Tennessee reports
mlllers taking the new wheat as fast as
offered at 85c. Prospects are improving
daily. The close was fractionally higher
than Monday. The fact of the matter is
the market is so small that it easily be-
Corn-COrn proved to be the sensation
of the session. The morning market had
a decidedly weak tone, led by scattered
selling of July. An attempt to cover
during the last hour found little for sale,
and prices of all options were jumped
to above the previous close with July
at one time selling almost on q parity with
September. The early influences were
the favorable weather and larger receipts.
than estimated. The government weekly
bulletin says the crop has not made rapid
progress and is generally reported small
although healthy and well cultivated.
Oats-Oats were firm and quiet mar
ket which sympathized but fractionally
with the mornings weakness in other
grains and responded promptly to late
strength The July liquidation is ap-
parentiy over for the time being and that
led In strength. The cash market was
steady.
]. G. Geraghty & Co.'s correspondents
say Of stocks:
Logan & Bryan-The train is moving
out. 1t is going slowly so far but any
one who wishes to get aboard better not
wait for it to back up. The hand writ
ing is on the wall and he who runs may
read You cannot have / per cent money
and 5 and 6 per cent stocks with moth
ing fundamentally wrong in the business
situation very long. The favorable crop
prospects and a near movement of them
are bound to force an expansion in con-
fdence and an increase in business The
2 tone of the market is distinctly strong
offerings of stocks are very small
Holders who have carried them through
the duIneSS are not likely to be free
sellers with such unmistakable signs of
+ Improvement in the market. We advise
j. buying stocks and buying them at once.
Randolph-We have again had a dull
holiday market but the tone has been
distinctfyely strong. The opening was
throughout the list with marked strength
in Consolidated Gas. BROOKLYN rand
Transit and Manhattan were also strong
Metropolitan on the other hand showed
decided weakness, as it has for some
Z time. The middle of the day was very
dull but shortly after noon the entire list
moved up under the leadership of Cana
- dian Pacific, Atchison and ST. Paul
Canadian Pacific has shown considera BILE
strength for some time and advanced
Sharply on small transactions with very
and the Pacifics were not Influenced by
F. the favorable. crop reports.