The Saint Paul globe., 1904-08-26
What the Brokers Say
NJ. Doran & Co.'s grain letter says:

strong and higher.
What the Brokers Say
M. Doran & Co.'S grain letter says:
Wheat-The urgent liquidation was evil
IDENTIFY pretty complete at the close yes
teTday and the opening today found COM
mission houses well supplied with buying
orders. There was buying by local bull
interests and for the account of the
Northwest based on reduced crop. esti-
mates in Manitoba and the low tempera-
lures throughout the belt and the unof-
fetal prediction of frost for tonight. Jones
figures on Manitoba crop are from 35 000,-
600 to $4,000, 000 compared with So 000, 900
a year ago. He says last figure is high
enough to cover any contingency. Bankers
and grain men, after making a fve-day
trip place yield at $4,000, 600. OF our own
Northwest Snow says the further the
threSh1nS machines go the more diSap-
pointing will be the yield. Liquidation
was evidently the feature in Liverpool,
values being off 23sd, but recovered I'D
before the close. Private advices say the
market was firm at the decline and would
readily follow any Improvement on this
side. Whether today'S advance is a
natural reaction from the lie decline or
the inception of a new bull movement is
entirely problematical. We think how
ever. it would be better to buy on the
sharp SlumpS. Estimated receipts tomOr-
row, III cars.
Corn closed very weak and decidedly
lower after the near deliveries had ruled
strong during the forenoon. The opening
advance was caused by moderate buying
in a market rather bare of offerings. On
the advance attention was called to low
temperatures throughout the West and
the prediction of the Omaha weather
bureau for frost tonight. The strength in
Liverpool spot market was also a help. 1t
closed sd higher although the futures
were described as dull and neglected.
The Price Current was bearfsh, esti-
mating crop at $50 600, 600, and the only
adverse contingency likely is an early
frost, The cash market was strong and
from 1hc 1c a bl1Shpl higher. The de-
mand for shipment was reported good.
but offerings light. The crowd got pretty
well loaded up during the forenoon on the
possibility of frost and the attempt to
liquidate resulted in the closing decline.
Liverpool futures were practically un
changed. Estimated receipts, 272 cars
Oats were weak throughout the day,
even when wheat and corn were showing
the best strength The market was ne
elected and dull Demand for shipment,
is poor and our prices are several cents
out of line for export Receipts in the
Northwest where the crop is good are
running larger than a year ago. Esti
mated receipts, 2S2 cars.
Provisions were fairly steady, with
only moderate interest shown in them.
Local receipts. $4,000. Estimated hogs
tomorrow, 1900.
j. G. Ceraghty & Co. S New York stock
advices follow:
Logan &c Bryant is pretty much the
same kind of market that it was week
and month ago. With an occasional
it continues to creep higher. There are
no stocks for sale and when one thinks
there is no place a man can put his money
that pays so well there is little reason
why they should be for sale. Every day
we are getting nearer to a cinch on a big
corn crop and big cotton crop. AS we
have repeatedly claimed, the modifiea-
ton of the wheat crop does not count
for so much. There is every indication
that the farmers will get good prices for
every commodity they have to sell this
~ TO tfrrftx
business. We can see nothing but higher
prices for stocks.
Paine, Webber & Co.-There was rela
lively more interest in the coppers than
in the Wall street market today. Those
having lake connections were buyers of
Allouez at the opening and there was not
enough of the stock to go around Our
adviees on the metal market continue ex-
tremely bulliSh We think copper will
sell higher. The general stock market
continues strong. A great many traders
are short but public and investment buy
ing is steadily carrying prices higher.
At the same time the advance in railroads
has gone too far to warrant overconf-
denee and We think, it good Judgment to
take profits on all sharp rallies
Walker Bros.-TodayS market opened
strong and continued so all day. with
scarcely an intimation of reaction, and
closed very firm with advances of II to
115 points. Noticeably strong were Read
ing, Pennsylvania Union Pacific, South
eFn Pacific and Texas Pacific The indus
trials were largely neglected. Closing
prices We're a little under the best on
profit taking. Sentiment is still bullish
O'Connor & Van Bergen's correspondent
says of stocks:
General strength of today's market and
its tendency to broaden has created
very favorable impression. Runors of
deals, increase of dividends. etc, are
eagerly listened to and in some cases ap-
piled in the old-fashioned way of a few
years ago. Union Pacific and Southern
Pacific were taken in hand again by the
same powerful interests who have moved
them to present levels, and if their con-
tinued buying means anything we should
not be surprised to see these stocks moved
to higher prices. Keene is mentioned to-
day as being at the helm of Southern
Pacific once more and to be particularly
bullish on the stock. Reading goes ahead
slowly. but at the same time in the same
sort of manner that has characterized its
movement for month or SO past. Peo-
pie close to the First National bank inter-
ests- are quoted as saying that there is
hardly any floating supply of Reading
left. Number of usually inactive spe-
cialties are being, revived and marked up
on .rumors Of benefits to be received in
various ways
Midway Horse Market