The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-02
TWO CENT ADVANCE
AFTER EARLY BREAK
Market Decidedly EHatiC and
Nervous, With Heavy Volume
of Trade

Minneapolis Chamber of Commerce,
March 1.-The opening this morning was
strong and 1ac higher, with shorts good
buyers on the early curb. Liverpool was
only off fractionally, receipts We're light
and a corrected report that Bradstreet
made the worlds visible a decrease OF
ISL 600 blu, instead of an increase of 249,-
900 blu, as reported yesterday, were the
bull cards. The buying during the first
half hour was fairly good, but as soon as
these buying orders were filed it left the
market without support. The bears soon
discovered this state of affairs and made
a drive at the market and under their
persistent hammering tactics, prices slid
off rapidly 1Sc, making a new low point
at $1.1034 for the May future.
Support was given the market on this
lreak and prices rallied sharply. gaining
strength as it advanced with shorts clam
oring for wheat which they were unable
TO secure, except at advancing prices. The
short interest during the past three days
has been heavily increased and while quite
a little of ii was covered on the upturn, it
was nearly all from the Scalping profess
SIGNALS. The large operators are still fight
ing the advance and have not covered to
any extent and are not liable TO, unless
driven to cover at higher range than was
quoted today. The close was strong and
leaves the short interest on the defensive.
The receipts here and at Duluth were III
cars under year ago From what we can
learn, the next ten days will see the last
of heavy receipts on the crop. North Da-
kota is now pretty well cleaned out and
of them will be closed until the next crop,
as there is no wheat to come from the
farmers deliveries. Elevators report that
deliveries from farmers the past three
days We're practically nothing. taking into
consideration the amount of territory COW
cred by the different elevator lines.
With small receipts there is bound 10
be an improved demand for the cash
article and improvement in the flour de-
o. mand. Montreal reports an excellent -four
trade for both domestic and foreign ac-
mt wit Nxa,f
account Many of the best posted in the
trade still look for wheat TO sell much
higher on its merits than it has as yet
speculatively. If the Wall street pool are
replace their wheat at several cents profit
On the break of the past few days. If
none of the selling of the past two or
three days was for them they certainly
had a lot of company on the bull side of
the market. for the trade has been of a
tremendous volume. There has certainly
and especially today to take all the wheat
that has been dumped on the market with
out breaking it any more than it did
May wheat opened 1ac higher at s1.12k.
$1.127s and closed at $1.12% @1.12M. July
opened at $1.10, broke to s1.0S3s. rallied to
$l.10A and closed at $1.102s @1.1012. Sep
TENDER opened at 92asc sold down to
915sc, rallied to 93c and closed at 925sc
Minneapolis stocks decreased 200, 900 blu
Tor four days. Receipts 1879 cars. against
QUO year ago; Duluth :, against &c; Chi
caso II; against 33; Kansas City. II. and
st. Louis $4,000 blu. Clearances of wheat
and flour 1875, 600 bu Primary receipts.
$4,000 blu, against $4,000 bu shipments
$4,000 blu, against 1876, 600 bu
Liverpool closed "a @1ad lower, Antwerp
and Berlin asc lower, Budapest &c lower,
Paris not reported.
The Illinois section of the United States
department of agriculture, discussing the
effect of the extreme cold on Illinois crop.
states the condition is gravely in doubt
In part the review says: "A greater por-
ton of wheat is covered with snow, ice
or water and the condition Of the plant is
more or less conjectural In some locali-
ties where it is uncovered the plant looks
Wen. but many opinions are advanced that
injury will be shown when a general thaw
enSueS.''
Chicago Cash Business: Demand fol