The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-10-13
What the Brokers Say

What the BROKERS say
NJ Doran & Co.'S grain letter:
Wheat-Wheat was strong and scored
a good advance under lead of Influential
local buying and relatively greater
strength in other Western markets. Ter
haps the character of local buying was
strongest factor, but with advance many
of old bullish features were again
brought forward. Attention was attract
ed by the small receipts in the Southwest
and by the strong adyiceS relative to fu-
ture movement and to amount of crop al
ready marketed, Nicollet. of Kansas City
Star, predicts sensationally small arrivals
in near future. and secretary of Kansas
City Grain Dealers association, places the
per cent marketed in that state at so, and
no stocks in millers' hands. There was
more or less talk of falling off in coun-
try purchases in Northwest. Gables prac-
dcally featureleSS.
Broomhall reports Argentine acreage as
officially stated at 20 per cent larger than
a year ago. Liverpool was Is to II high
eT at close. Estimated receipts tomorrow,
Corn-The strength in December corn
was easily the feature of session. Under
leadership of buying by cash houses and
influenced by known scarcity of old corn,
the strength in the cash market and re-
ported absence of country acceptanceS,
this option became very light, selling at
31hc premium over May. Old crop cond1-
-tions are not factor in May situation,
and May advanced but fractionaliy under
stimulus of December and moderate local
covering. Receipts here and at all points
We're small. A better demand was re-
ported and shippers found difficulty in OBJ
tanning offers. Liverpool reported pet-
ter demand and closed with a sd gain
Weather conditions ideal and II Will De
strange indeed II final crop ngureS 90 not
show considerable increase as a result
Under existing conditions don't sell the
December. Estimated cars, 102.
Oats were the weak member OF the grain
list, selling off sharply early and barely
recovering the loss later. The strength IN
other pits was not much of factor Win
many of the larger interests aggresslVely
beariSh. Estimated cars, 124.
Provisions--There was a sharp pre2K
throughout the provision list. Heavy
selling of lard and ribs shortly after the
opening ran the market into stop loss or
ders in the hands of commission houses
which accelerated the decline The hog
market was weak feature, declining l0e
to 15c. Estimated hogs tomorrow, 22,00g.
OConnor & Van Bergen's New York
stock adviceS:
Trading, although active, is confined to
a limited number of stocks with ten
deney decidedly upward. Attentions has
been turned to a large extent to indus
trials, most especially railroad equipment
issues, which are noticeably active and
strong. Buying in Pressed Steel Car and
Car Foundry was largely based upon i'm
prOVement in business shown by these
properties. 1t is admitted there has been
some very good profit taking today. put
in spite of it the. floor has repeatedly re-
ported there was not the slightest pres
sure anywhere. None of the speclaltles
seem to have any considerable amount OF
selling orders in sight. AS part of the
newly active Philadelphia interest in trae-
lions Wolfe Bros purchase of 5000 q.
r. T. was noteworthy. The Widener fol-
lowing is reported bullish and have bought
a good deal of Metropolitan and Brooklyn
lately. Arbitrage houses have been good
buyers, taking total of about $4,000
shares today.
The market was active and strong this
morning for the leading stocks, aided by
higher London and buying from there.
The demand met a free supply, which
limited the advances and served to check
the speculation. Later buying turned to
others of less general interest and in
ffuence. In the latter part of the day
the weight Of stocks sold earlier was fair
and a tendency to reaction set in, selling
pressure increased. The declines We're I'M
even and unimportant; the undertone was
fairly good.