The Saint Paul globe., 1905-03-16
SPECULATIVE GOSSIP

Chicago-Active work is being done for
the passage of the two bills now before
the Illinois legislature, which are of the
most vital importance to the grain trade
of the state. The bucket shop bill is be-
ing amended by the substitution of the
description of what bucket shop is, as
defined by congress in amending the war
revenue act SO as to tax all bucket shops.
The other bill proposes to amend the
criminal code so as to declare that the
broker OF a loser is not a winner. as the
statue reads, under which suits have
been brought to recover losses from mem
Ders of the board of trade of three times
the losses of their customers. The pass
age of these amendments will mt the
grain trade on its proper footing
Chicago-The petition to allow western
red wheat deliverable on contracts at a
DC penalty and No. 3 corn deliverable at
like discount were laid over for a week
Dy the directors, to get broader view OF
the opinion of the trade on the proposals.
chicago = Montgomery, Sterling and
commission houses all sellers of May corn
at opening. About the only buying has
peen by pit crowd. Market steady. Trade
A ST. Louis correspondent advises ms
that on and after today all trades there
Will be made under the new rule admit
ting No. hard wheat on contract. unless
otherwise specified. This does not apply
to the May option.
ChicagoI still believe that MAY corn
and oats should be bought on every weak
spot. After the first OF April / believe
we are going to see very light receipts of
corn at every primary market, and as the
amount of corn on ocean passage is small
cannot help but believe that We will see
good export demand for corn and high
er prices. 1t begins to look to me as
tnough oats were worth the money and
that they are very cheap at 171kc under
price OF May corn, and there is more
ethance ttsI Tor a profit on the buying side
tnan there Is for a profit on the selling
side.
Chicago We have a message from
Omaha reporting 1t is raining there and
through the western part of the state.
This VIII put an end to whatever corn
section.
Chicago : Cudahy brokers selling MAY
corn Cs and the pit. crowd are getting short.
Offerings are being taken by Commission
breaks
Kansas City wires: There is no de-
mand for cash wheat here Weather
conditions could not be more favorable il
made to order.
Chicago-You can't expect July wheat
to advance much with perfect Condition
all over the winter wheat belt and away
out of line for export. We will have to 60
to an export basis this year. whatever
me tf price is, unless something happens to
An Ohio jury has decided that money
lost In speculation in grain futures cam
not be recovered. They returned their
verdict for the defendant after five min
utes deliberation.
Chicago-Advise the purchase OF oats
and corn at these prices. Do not see any
possibility of anything more than a frac-
tional decline and expect May corn to sell
up into the SOS and stay there, and be-
lieve May oats will sell much closer to
corn than at the present time.
Chicago - May wheat steady Crowd
went home long on July last night, and
sold out at opening. Believe our July will
do better unless other markets sell off.
Chicago-Same class buying going on In
PROVISIONS as on yesterday. The prin-
Selpai demand thought to come from large
nGnr
Kansas City-No demand for cash wheat
mere. Wheat conditions could not be more
1avorable II made to order.
for big L. & N gains. Earnings of l. e
n; are expected to show large Increase in IN
tivity in iron and coal I'm the Rirnineham
district. Cotton movement is also larger
than than at any time since year. ago. Begin
ming April l the company ii is thought
week. ~0O'V0V
New, York : Market closed lower all
around All through the session prices
have had rather an erratic career. with
profit taking sales quite urgent whenever
the market showed disposition to rally.
This reaction has been long DELAYED and
we feel VIII help the market. Sneciai
stocks have been bulled without any
definite reason announced for the bulllng.
aside from some rumors of deals pending
II these combinations are worked out the
market VIII take care of itself and re-
spond more readily from a Somewhat
lower level The closing tonight shows
the market with a rather tired appear
ance, and conservative traders rather
hone for somewhat further reactions
New York-The action of the directors
or the PENNSYLVANIA in authorizing the
issue Of s50.000.000 new bonds is regarded
as conservative in view OF the expectation
that they would ask for an issue of s100.-
600 600. Part of the new issue wifi be
used TO retire the s27. 100000 of 6 per cent
bonds which mature this year and the
balance will provide funds for construc-
ton and equipment expenditures to be
charged to capital account.
New York-Cnion Pacific is turning
strong. OFFERINGS of the stock are NOT as
liberal around 1S6 as yesterday. Gates &
Co. are the largest buyers
New York-Parties who have been the
largest buyers of o. & w. of late. and
who are again buyers of the stock TODAY.
tell me that N. Y. c. VIII guarantees
per cent to the stock
New York-We are advised to buy G q
O. and Metropolitan Securities. London
IS a buyer Of stocks in our market this
morning. principally o. & W.