The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1904-09-29
What the Brokers Say

What the Brokers Say
M. Doran & Co.'S grain letter:
Wheat was remarkably strong every
where, but stronger at Western centers
h here. The opening period of weak
ness on Indifferent cable respons to our
advance of yesterday was quickly sup
planted by a return of bull sentiment. In
addition to sympathy with advances at
outside points the bullish Southwest news
was a factor. The cash demand was re-
ported good. Country acceptance on high
bids and small and light receipts are esti-
mated Tor next week. Northwest news
was rather scant, although the Mime
apolls market showed great strength.
Ihere was some complaint of delayed
threshlng due to continued wet weather.
Foreign. crop items were bullish. The
Australian crop was reported reduced by
drought to 65 per cent of previous one,
which, however, was q record breaker,
totalling practically 80, 900, 900. The offi-
cial French figures for this season are
297. $780, eO, or $500 900 less than year
ago, and, according to BroomhaiL this
means an Importation of at least 80, 09D,-
QUO. Liverpool closed 1sd to I'D higher.
lima receipts tomorrow, 70 cars.
Corn-After a dull but steady market
during forenoon corn developed great ac-
tivity and good strength on local bulling
and considerable scattered covering by
snorts. The advance was evidently large
ly speculative, as there was little in the
news which was either new or. likely to
Influence operations. The cash market
y IN Noo acIIOl6 III d litill6Q SUP
ply. Shipping inquiry, however, Is still
slack Country acceptances of old corn
are light and offerings mostly of new
crop at about BIC under the December
price. Liverpool closed practically I'M
changed Estimated receipts, 135 cars.
oats were largely. a sympathetic mar
ket with fair commission house demand.
Trading. however, was on limited scale.
The cash market started strong, leaving
OFF practically unchanged. Estimated re-
ceiptS, 155 cars.
ProyiSjonS vparo lou,ar OH, ro,,,, -r;+b
a general disposition to realize on the
part of commission house holders. Oc-
tober lard c1ntinued in good demand on
on receipts of 10000. Estimated tomor-
row, 5000.
j. C. Geraghty & Co.'S New York adj
vices:
Logan & Bryan-There are slight recess
SlonS in spots, but the general tone of the
market is strong and the average is a
gain. The general interest is growing and
represents both professional and outside
f 8dents is De exp Ss saaX H thro eag see our mat ady degs
of numerous Wall street correspondents
is gaining. Considering the ~cheapness of
money, the wonderfully sound financial
situation and the reasonable prospect of
an expansion in general business and in
creased earnings for the next twelve
months. present level of stocks is moi
high. If we get recessions. buy stocks,
but do not wait too patiently for re-
cessIons nor for anything more than nat
-l1OlOSllldl I6C6SSlOIlS. In our 1101-
ment the market will gradually develop
into a big round bull market.
Can common closed 5%@5%c: pre-
ferred, 46& @47c; Swift. $1.01k @1.02.
Randolph-The market has shown re-
markabie strength from the opening to
the close today. The steels nave contin-
ued to keep the lead in the advance and
the preferred ran up about 2 points on
very large transactions. The common
While remaining strong, failed to partici-
pate IN the movement to any extent, AND
the same thing may be said of the bonds
IN this connection it may be noted thai
the steel corporation still has the right te
convert $50, 100000 of preferred stock into
bonds and many observers nave thought
tnat Tor some time a good deal of the
heavy buying of the preferred stock might
be explained in this way, that the com
panyswas buying its own stock and selling
the cancellation of this stock. Of course
II this Is being done it would easily ac-
u for the great strength of the stock
market 500, 600 shares. Other strone
features were Louisville & Nashville. AT.
lantic Coast Lines and Southern Railway
stoch s5.of course, caused rumors of some
Kind deal between them. The res
OF tn larket, while remaining strone
The cfc was strong and active.
O'Conr & Van Bergen's stock ad.
vices:
Total business in our market was or
rather larger volume than Yesterday
Reailzing was very marked, but as a ruiz
was well taken. and the general under.
tone was decidedly firm. The opening was
strong and higher, an irregular tendenc,
being evident, with Steel stocks again the
feature. both for strength and activity
while in Union Pacific and Atchison sell.
ing was of sufficient volume to cause mod.
crate reactions. Ontario &c Western wa.
higher and strong pending the meeting
but reacted on the publication of the plaI
to pay 3 per cent dividend, conditiona
on an issue of $l2, 900, 900 stock. Northern
Securities on the curb advanced IL pel
cent on.active trading and was responsible,
gardings payment of dividend and disf,os.
ing of the property. Iii the last hour re,
newedestrength in United States Sfee
preferred carried it to. the highest nrir,
on this movement and was of influenc,
in strengthening the entire list. Th,
close was active n very strong.
The character of some Of the profi
taking today made trading operations II
certain parts of the list rather cautious
though at no time has there been an,
weakness manifested. Ontario & West
ern, once the good news was announced
had to Withstand an enormous volume n
profit taking, which, however, had bu
slight effect On the price. 1t is reported
James r. Keene is more active in tn,
market than for some time past. He ii
credited with manipulation in the stee
stocks. London has beensby no means I'll,
factor in the market it was yesterday
though purchases nave largely predoni
mated, much of their buying being ia o
& ".