The Saint Paul globe., 1904-08-25
What the Brokers Say

J. c. Geraghty & Co.'S Chicago grain
letter SAYS:
TVheat-Fhere were some slight rallies
but in the main prices slid gradually
off under scattered iiquIdarion- and with
some help from local bearish interests
III was a general cleaning up process after
p 35-ceuU advance News from the North
west was OF both kinds but there is much
less talk about the spread of damage The
nalated long interest must have been
pretty well cleaned up. There was some
good bUVing nOticea bic by prominent local
bulls when went out on the first advance.
Lt was net on a large scale however.
F" 1lle we are inclined to feel as OF late
that the advance was 0TerdOHe and that
the recent high prices are not likely to he
reached gain in the near future vet
after three daEs decline eliminating with
SO great q break some reaction would
seem likes With the increasing move
ulent in the Northwest and with the prob
aDllItV OF increasing stocks of contract
here ana Iree deliveries on SeDtemBeF con-
tract. while reactions might be sharp, we
think they VIII be temporary
C0En-It showed some steadinesS early.
but the continued break IN wheat finally
forced liquidation and lower prices. The
lzldenCy over the corn belt also is for
higher ternpeEat tures. and under present
c0udiUlonS of the crOD this is bearish- No
particular change IN cash situation devel-
oDed- Ihe cash demand is on the whole
good ana equal to the supply. We doubt
If an advancing market for IL can be maiH-
taiued-
0ats-H was a rather dulI dragging
market and shows the depressing effect of
accumuiaIiug stocks. The tendency is a
dragging one.
Pr0visions-It was quiet market with
some covering of shorts and some chang
INK over of SsBteu9ber StuC To future
months. Market exhibits no change in
tendenCy. IN wow of the facts that Sep
LembeF holdings can be changed TO a fU-
tlLre month al less than il costs to carry
hem. ara that with the strike on at the
ilSr
DER the obtaining OF insurance might be
matter of doubt We advise holders OF
September property If they contemplate
holding It to carry it in the form OF a fu-
sure delivery
j. c. Geragfey * Co New York stock
adviees- follow.
Logan 6c Bryan-There IS some little ir-
regularity in the market but the lead
ing railroad stocks and iuduStTials are
-Hcnansed. 1t WAS narrow market.
There was good buying OF the CSeuld
stocks. There ara quite liberal exports
lt gold. but this does not disturb the
situation There is the same absence of
selling pressure of long stocks as here
10toFe. The weather through the corn
belt IS favorable. and. although the ad-
vance IN Gotten continues. there is l1OtIl-
ing particularly the matter with the croU.
We see very little to discourage holders
OF stocks.
Dick Bros.-Fhe market has been quite
strong again today. and although there
were made bv many stocks and no irnuor-
ralt declines were scored As A rule the
Laading railroad shares were only steady
allhough missouri Pacific made sfiarp
advance ana was a f6aTure. Low priced
Southern shares were also strong The
days news was UniuaporeaHt The marker
closed irregular
Paine. WeBbeF q Co-There vvss In
creased activity and strength IN invest
H1ent railroad and industrial today #
seems that the demand for good iTvssf-
nlehts Is growing anu there are very few
good Beltls availa ois at anything Ike rasz
sOnahle prices Copper held firm in Lon
don The buying OF Amalgamafed wa,
said to be bv Standard oil brokers IT,
advance had little influence on the local
C0ppeTs Sentiment here IS increasingly
hopeful and a better market is expected
O'Gouuor & Van Bergen's correspondent
says OF st0ckS-
The sharp decline in wheat had T1FIeI,
to DO with the hrmness Of the stock mar
keL Although Traders are rot psrriefl-
larry bullISh. they do not see any signs
OF long stock being offeFed Vet which
they consider significant BROOKLYN Kszuid
Transit IS much talked OF and the buy
ing N II seems very confident AIthas4eh
ldAgaInated- Copper continues strong on
persistent rumors at a settlement with
HeinZe- We hear from every source there
is no truth IN it Missouri Pacific led il
the advance. as usual IN Could stetzIzs
which seem again to have been taken in
hand for tuTH. Southern Railway as We
have from tffl7e to time advised IS being
well bought and we think will vet sell
higher Although the volume of trading
has not been large. the tone from tba
opening has heen excellent