The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-06-01

The following grain and s. letters
were wired yesterday to St. Paul brokers
by their Chicago and New York corre-
spondents:
M. Doran & Co.'S Chicago grain letter
Wheat-Wheat ranged over the pre-
ViouS close during the forenoon, but later
the tone changed and the market made
concessions to continued weakness in all
outside markets excepting st. Louis. Both
September options relative to near de-
nVer1es We're strong and were in fairly
good demand from commission houses.
Local conditions had some influence. It
was thought probably something might
happen In May and coarse grains, es-
pecially corn, were strong. The mills at
Minneapolis are resumlng7 grinding and
the capacity by Wednesday will exceed
that Of some weeks past The weather
over the holidays was perfect. Early
and the general condition of the crop is
promising. Some fields in South Dakota
are weedy, and late -sown in North Da-
kota is not terminating well.
Corn-Corn was in good demand from
shorts at the opening. Offerings were
light and a quick advance resulted. In
view of the large receipts the local crowd
followed the advance unwillingly. The
decrease of 1900 000 bu in the visible sup
ply and the strength in the sample mar
ket, which was 1c a bu higher, helped to
change the sentiment somewhat. There
was some recession from extreme bulge
before the close. The weather has been a
little too cool for the best growth Re
celptS viii probably continue liberal for
some time, although lowering of price to
the farmer during past week will tend to-
curtan the country movement.
Oats-Oats were the least active grain
market on the floor, rejecting the chang
ing conditions in other pits for the most
part. The deferred futures ruled at a
slight advance over previous close, where
up process. The cash market was steady
to &c higher. The weather was perfect.
OConnor & Van Bergen's stock letter
says:
The action of the market has been con-
siderable of a disappointment in view of
the generally more cheerful outlook at
the start of business. Saturdays excepr
tlOnaIly good bank statement encouraging
Semi-official forecasts as to United States
Steel earnings for the present quarter
and prospective business with assurances
the low water mark OF the iron and steel
trade had been touched and a steady i'm
proVement might be expected, higher and
more active foreign markets, etc. salts
fed traders, who will control the situa-
ton, that higher prices might be expect
ed before the close. Weakness in Fries
and several minor railroad shares, as a
result OF special reasons, however, upset
all calculations, checking the morning.
feeble bulliSh tendency and resulting in
general fractional declines throughout the
list attempts to rally the market being
abandoned early in the session The de-
cline in Texas Pacific is attributed to re-
ported lack Of harmony among part of
the Gould interests. and is said to come
from the Western Maryland underwriting
Synd1cateS who are diSpoSing of their
Gould stocks. Erie's disappointing state
ment and LackaWanna's fire in spite of
the frmneSs of Reading shares had de-
pressing influence on the anthracites
Other than above there has been no news
today of any sort to affect the speculative
situation.
]. G. Geraghty & Co.'S correspondents
say of stocks:
Logan & Bryan-The market opened I'D
higher on Saturdays bank statement This
was extremely favorable The market
met with no support, however from any
source and the Improvement was lost and
1t again lapsed into dullness There
seems nothing in sight to relieve this
monotony. The uniform and continued
loss IN earnings which the statements of
nearly all the properties show simply re-
fleets the waiting mood of the public in
every branch of business. So long as
this mood continues they are not likely
to be investors in the stock market to
any great extent. Stocks may not sell
down much, but a bull market hardly
seems likely and we are inclined to think
they may be sold on the rallies
Walker Bros.@The market opened
steady and with some strength, but ii
did not last long and the traders began
to sell. In the middle of the day the mar
ket was very dull and there was very lift
tie business done. In the afternoon the
market was steady and closed without
feature. After the good bank statement
1t was rather a disappointment not to
nave the market advance.