The Saint Paul globe., 1905-03-11
SPECULATIVE GOSSIP


ing the delivery OF Oregon wheat
on regular sales on the board OF
trade lies IN the hands OF the
they can bar it out by slight change in
the rules requiring the delivery of No. 2
red of the soft variety and specifying
action in favor OF the red western wheat
the railroad and warehouse commission
ers may take. Ii can be done in few
weeks, and the trouble put out OF the
way. IL was suggested after the meeting
that IL should be made deliverable at a
penalty Of DC. which is high estimate
OF Its worth. as it sold at 71zc under
regular No. yesterday, while I'm Octo-
bef it was &c discount. There is so far
as known 100000 bu of this red western
wheat here and at ST Louis that can be
should be changed in its favor and there
was no other means of keeping IL out.
= -Chicago-James A. Patten sent out a
statement yesterday that the position of
the bulls in May wheat was stronger than
ever. and that the bull campaign had only
commenced.
Chicago-B Frank Howard estimates
March ! at los. 600. 900 bu. This result is
reached by applying the reports from his
own correspondents TO the figures on yield
last reported by the department of agri-
culture. OF the total 6.0oo oeo bu are I'm
the three northwestern spring wheat
states.
King of Toledo wires: Michigan March
report will show no material damage to
growing wheat. Year ago half reports
from large wheat counties reported dam
age In February. Condition last Decem-
Der was SO, last June AZ.
Observation-Disclosures of corn from the
country were almost nothing this morn
ing: There is good demand here for
doing they have got enough done already
TO keep them busy for the next two or
three weeks cleaning this up.
Chicago-Corn is heavy under the influ-
m hNy rhn 10H Do fI.afN
Following. The weakness in wheat has
also started lot of scattered selling.
Peoria-St. Louis seems TO lead right
along on cash corn and oats prices and
as they have the lowest rates now from
large portion of the territory west of
the Mississippi river Ii would appear that
there Is no effort in that territory to mar
ket corn No. corn sold at 4skc
there yesterday. No. 3 at 4Sc. No yell
low At 49c and one car No. white at Soc
No; white oats up to 34c and No. 3
very light We offered 45Hc for No. 3
ana 46c for yellow corn last night. and
Chicago wheat-Not much trade in
May. Transactions have been small with
the edge in favor of buyers as offerings
are light Pringle continues to bsll July
Chicago-Acceptances OF corn from the
country We're almost nothing this morn
ing: There is good demand here for
cash corn, and while exporters report
already to keep them busy for the next
two or three weeks cleaning this up.
Liverpool house cables: Spot wheat
auli futures firm, affected favorably by
smau shipments from Argentina to
Liverpool Heavy rains have done con-
siderable damage to stocks in the interior
OF Argentina. The strike continues. Corn
nr1n, with a good demand.
Chicago-W Whether you are bullish or
pearish on wheat. here is a 10c break on
july wheat; 1t may not be new crop
month but liquidation and short selling has
peen popular today We are due for rally.
May wheat is almost 21c above July.
Z Chicago-Nothing particular breaking
corn, Simply no support. Scattered Offer
Ings increasing, with nobody to buy II, as
people want to see government now be-
fore making new trades
Peoria wires: We bid last night 451Lc
for No. 3 corn and 46c for yellow. 31Kc
acceptances.
New York-To A. ]. CUMMINGS: The
market being a purely professional AFFAIR
naturally tends to a, restriction In volume
OF business which is beneficial I'm sense
that II enables trading element TO size up
the situation more clearly and to form
some definite opinion as to what future
has In store. The fact that prices have
already had substantial advance is be-
ing continually presented as a matter
ton IL should. while the Improvement in
general conditions which has been the
basis of the rise is belittled whenever
something of a temporarily adverse ma
ture occurs to at all warrant it, The fact
however. that volume OF trading is ex-
panding and public interest is increasing
cannot be denied the recent activity fol-
lowing rather long period OF compara
i've dullness is sufficient proof OF this
New York-There is strong talk on New
York Central again and the consolidation
OF southern Iron properties will. il is pre-
olcted, yet be accomplished under the
auspices OF banking interests friendly to
me United States Steel corporation II is
trade conditions. however, which are re-
higher level, well informed people taking
the position that the preferred is an ex-
cehent purchase at its present price on its
dividend and the ease OF money.
New York-Bank statement tomorrow
VIII probably not show any big change.
Loans should increase s.. 1000. 900 to 81. 0O0-
VOO, deposits Increase about IS. 600 600
cash increase s2.000.0o0 and surplus re-
serves increase 81 ,O00, 900.