The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1905-03-21
SPECULATIVE GOSSIP

Edwards-Wood Co.-Although the mar
ket has held within a narrow range, prices
nave averaged higher and very firm. Sup
porting orders are credited to some of the
best interests in the trade, and there APP
pears to be good reason for the present
buliiSh sentiment. The government made
the last production 10000, 900 bu more
than in 1903. yet farm reserves on March
i were only 1900, 600 bu more than year
ago, leaving the increase in consumption
at 34,O00.000 blu Contract stocks in Chi
cago are only 361. $50 blu, against 2,545.773
at the corresponding time Of the year pre-
Vious: The price of May oats at the pres
ent Tune Is &c under q year ago. and at a
discount OF 11kc under May corn and sic
below May wheat. whereas in 1904 the diff
ference was only 14c for corn and 5Sc for
wheat. Eastern stocks of oats are report
ed as almost exhausted, a condition that
is taken to indicate that shipping demands
Will soon be large. Another item that
should help the price is the report that
important sections will show a decrease
In acreage this year. What the market
This should follow the opening OF naviga-
ton and falling off in country offerings
que TO spring activity on the farms. The
situation may easily be called strong. and
with any encouragement from the wheat
and corn markets could sell materially
higher during the coming months, when
consumption is generally on the largest
scale OF the year. Under &c per pound
hold.
Chicago-stocks grain in regular ware
bu; corn 1885, 600, increase $4,000; oats
1873, 600. increase $4,000.
Chicago-Armour has been a free buyer
OF July wheat from 921zc down. 1t may
be we will run into small scalping mar
ket for while, as l believe he will sell
It on any advance of &c to &c per bu and
then take it back on breaks until market
gets too large for him.
Chicago-Lighter receipts of corn than
estimated and higher cables responsible
for higher opening. b. +. and c. bought
about i. 600 400 bu Nav NVP TenES
was also pretty good buyer. Commits
sion houses best buyers.
A Liverpool house cables: Wheat quiet
but rather steadier. Shipments are more
moderate than anticipated. Stocks are
increasing and supplies are fully equal to
the demand Corn firm, with an upward
trend Shipments are too small to allow
OF any decline.
Observation-Disclosures in July wheat is the
result of selling by Pringle, Jim Rankin
and Lindman. Volume OF business is only
fair, no special news.
Chicago to Sidney c. Love & Co. Min
neapolis; July wheat moves up and
down with May. Valentine continues to
buy May and acts as If he wanted it.
Following from Des Moines, Ia: Coun-
try roads are now absolutely impossible.
Many OF our agents write that an empty
wagon is big load for a team OF horses
to pull. Receipts OF corn from the farm
ers are impossible, no matter what the
price may be. AS soon as the roads are
better-it will be time for men and horses
to be in the field.
Chicago-Corn looks like a purchase on
this break. The selling is by Tuttle.
Friedman, Brosseau and is not particular
ly good, while the demand is from COM
mission houses and shorts and is excel
lent.
Basing his estimate on last government
report, showing that farmers still hold
100000 bu OF wheat, III. V. Jones de-
clares that mills of this country will be
100000 bu of wheat short, an unpre-
cedented condition.
New York-The reduction in surplus
reserve shown in Saturdays bank state
ment has been the subject of considerable
surplus OF the clearing house banks only
little above $5,000,000 the activity in
bullish speculation in stocks must halt as
the money rate must advance to a point
which will not only check bullish senti-
ment. but will also influence considerable
liquidat ton. The fact is overlooked, how
ever, that the clearing house banks do not
represent the full lending power in the
money market.
New York-Market shows more rally
ing power today than it has for a week.
Looks as this reaction had about run its
course. 1 favor buying Steel and Union
Pacific.
New York-Personally look for this
reaction TO go further, and while believe
buy on scale down, still believe in sales
on strong places.
New York-C. F. ]. is likely to be very
strong this week with the SteelS. 1t is
said on good authority that smelters will
cross 120 in the next ten days.
New York-Our market opened heavy,
not responding to London's strength 1
watched