The Saint Paul globe., 1905-03-26
SPECULATIVE GOSSIP

A. ]. Cummings find much demand
for cash corn, especially among my Iowa
cusomerS for feeding purposes. My au-
ditor, r. j. Murphy, who is just in from
Waterloo, reports corn turning out quite
disappointing, owing to the mild fall and
early rains this spring. rendering what ap-
peared TO be good grade stuff not even fit
for seeding purposes. Owing to dampness
of the cob, which in many instances is en-
tirely wet, find on investigation our local
markets are free of good corn and have
been entirely free of corn of any descrip
tion for some time.
Chicago-Accepting the government es-
innate on the corn crop and farmers re-
serves OF corn as correct, we consumed
100000 more corn the first four months
OF the crop year than we did during the
corresponding period of the previous year
If this is so it is safe to conclude that We
VIII consume at least 100, ,000, 900 more dur
ing the remaining eight months than we
did during the same months last year. On
this basis the farm reserves this year will
go no further in filling our requirements
than they did last year, without making
any provision for the shortage OF thirty or
forty million bu in the cribs. and the in
creased export demand necessitated by a
shortage of $4,000 900 and %, 000, 900 in the
Black sea shipments. So that even on
the government figures, which everyone
knows to be excessive we have every
reason to look for higher range of prices
than last year, and on a fair estimate of
the crop. say 1900 100000 we are very
liable TO see some very fancy prices be-
fore new crop is gathered, and 1t must
be remembered the next crop is not plant
ed and has to run the gauntlet of all the
vicisSitudes that always threaten the crop.
Chicago-Corn is holding strong and the
trade, while light. shows buying of good
character. The selling is by the scalping
element and they act now as If they were
short about all they cared to be. Think a
good buying order would start quick ad
vance
Chicago-The market opened slightly
higher but on the offerings of Pringle the
price declined about &c. Very little wheat
has changed hands this morning so far
valentine sold w. and l.. 100 May at
Chicago-Scalpers are the best sellers Of
corn this morning; commission and cash
houses the buyers. 1t LOOKS to me as
though the pit crowd were trying to liqui-
date Patterns corn without his consent
Kansas City wires: by actual count
JIG cars wheat carried over. There will
be 160 cars on SALE
Chicagp-Corn market pretty strong
Comstock now buying a little spot. F.,
b. and c also a buyer of September. The
pit crowd act short but need a good buy
for May
New York-To A ]. Cummings: "The
market closed a little irregular. but on the
whole shows very strong undertone. The
Steel stocks, so prominent yesterday, did
not continue their upward career to any
extent. AS We have intimated in the past
the action OF Locomotive warrants belief
or early distribution to stockholders. The
bank statement was somewhat better
than expected. The market in the last
two sessions displayed much of its old
time enthusiasm. IL acts well and shows
much snap and offers encouragement to
the bulls"
New York-Sharp rally yesterday after
noon on urgent short covering. Perhaps it
was bit overdone, therefore stocds may
sell off some here on reactions Would
buy. Our favorites are Brooklyn Rapid
Transit. Erie, Erie second preferred.
Union Pacific and Chesapeake &, Ohio.
New York-They are acting all ,ipht
the old dog Southern Pacific is again tip
ped for good advance; also Copper and
Ontario * Western. Have no real hot
ones this morning
New YorlS-Randolph says: 1.-The reac-
tion has evidently run its course and we
now look for an advance to higher levels
than have yet been reached before there
is any material further reaction