The Saint Paul globe., 1905-01-17
SPECULATIVE GOSSIP

. Chicago-To Edwards Wood Co.: Corn
has had good trade, but was somewhat
and what is likely to be experienced the.
next week is easy to figure out if the news
is carefully considered. Offerings are
small compared with what was expected
from the size of the crop. Daily clear
ances have averaged nearly as large as
receipts. Eastern buyers claim that since
tne nrst OF the year they have been un-
Faple TO buy any corn east of the Missis-,
slppl river. except a few small lots in Illi-
nois. In. Iowa and Nebraska, feeders are
now good buyers and will want as much
corn as year ago. This leaves little on
winch to sell corn, yet great deal of the
large snort interest has been put under
this level, with no change in the situation
IN sight. The great strength in wheat
and comparison of corn prices at this
time last year, and during the balance of
the winter of 1904 will prove favorable to
holders. May corn looks good on weak
prices, and with decidedly firm cash
market think we can see a sharp advance
IN the near future.
Chicago-Wheat opens strong with scat
tered commission house buying. Offer
ings light and mostly on limited orders
Ch1cago-Broker just sold 200 bu May
wheat, supposed to be for stock houses.
Trade on the whole very light. but trad
ers not inclined to get short. Presumab bly,
the large Northwestern wheat receipts
have Influenced their prices, but at same
time St. Louis and Kansas City have
Kansas City wires: 7Nicollet's report of
Kansas stocks of wheat show over
70, 100000 bu yet in Kansas mills, eleva-
per cent of the total crop, and is looked
upon as being rather bearish Previous
estimate, about 20 per cent left
Chicag ago-.Wheat shows congested condi-
ton and holders still hanging on. Armour
scalping the market for about / cent a
bushel, playing the long side. Think safe
to buy wheat on breaks for scalp.
Chicago To Sidney C. Love & Co.,
Minneapolis: This market looks strained
and unless supported, believe will decline
sharply.
higher in sympathy with stronger cables
Craighton, Irwin Green and pit crowd
best buyers. Market has steady under
tone.
ago-valentine sold enough wheat
Saturday from SLY to $1.165s, so if he is
to continue his scalping he is likely to be
a buyer again today if market is easy.
Chicago = Liverpool house cables:
Wheat quiet but rather steadier.. Corn
firm with a better demand, owing to the
disparity of values with outports.
st. Louis-Advices point to continued
Increase in wheat receipts here. Today
they are 10000 bu more than last year
We are &c under Chicago and puts only
thing holding us; There is a big jag of
May wheat bought here and sold in Chi.
cago with cents loss in it. 1t will come
out soon.
Chicago Patten is the. best buyer of
May corn I believe he is up against
hard proposition with his long corn.
There appears to be a splendid selling on
every hard spot, and it is only muscle
that will keep the price up.
New York-To A j. Cummings: The
market has absorbed the liquidation very
easily. The buying of Union Pacific is
very heavy and the predictions that it
will sell at $1.25 this week does not seem
to be unreasonable. London has been
free seller
New York.If this phenomenal strength
In Union Pacific holds. caused by steady
and persistent accumulation. there will be
bear panic, and we think the strength
will hold
New York-Think Manhattan will sell
higher, and probably Interborough will
sell at 200, but think Manhattan best
speculation. However, would not touch 1t
yet.
New Yorl-The story is that the Steel
corporation will show over 20,000,000 for
last quarter and an increase of so per
cent at least in, orders on hand