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The Saint Paul globe. (St. Paul, Minn.) 1896-1905, March 25, 1905, Image 8

Image and text provided by Minnesota Historical Society; Saint Paul, MN

Persistent link: https://chroniclingamerica.loc.gov/lccn/sn90059523/1905-03-25/ed-1/seq-8/

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—May Wheat— —July Wheat—
Friday. Thursday. Friday. Thursday.
Minneapolis $1-10% $1.11%-% $1.06% $1.07%
Chicago 1.12% 1.12% .90%-% .90%
Duluth •• 1-07% 1.08% 1.05% 1.06%
St. Louis 1-04% 1.05% - .84%-%, .85% .
Kansas City 94% .95% -79%-% .79*-80
New York 1.10% 1.11% .94% .95%
C 1 os ing
Wh< at. Open. High. Low. '-£7 Friday. Thursday. Year Ago.
May $1.10% $1.11 $1.09% $1.10% $1.13%-% $0.9674
July ... 1.06% 1.07% 1.05% 1.06% 1.07% ■ .96% ..
Sept 85% .86% .85% .86%-% .86' i
May?'. .28% .28% .28% .28% .28% .........
The leading futures ranged as follows: -
Wheat Open. High. Low. Friday. Thursday. Year Ago.
May $11"-% $1.12 a« $1.11% $1.12%. $1.12% $0.95. .
juiy •;:;::: .90%-% . .*o% .w& .»0%-% .. .88%
Sept .84%-»/ 4 .84% /.Mr .: 84%. .84%-% .83%
Al( Oln' 48%-% .48%-% .48% .48%-% .48% .53
full' 48^-% .48% .48% .48%-% .48%-% .50%-%
sept :::::: :«%-% .49% . •«% .49-% .48% : . 49 %
May 30% .30%-% .30% .30% .30% ' .39%-%
July . ::::: 5%-% s .30% .30% .30%-% -30%-%; .37%-%
Sept ...... .29% .29% .29% -29% .29%.-% . . .32%
May .."....12.82% 12.85 12.80 _ 12.82% 12.77% 13.07%
July ......12.97% 12.97% 12.95 12.95 12.92% 13.30
T,dt rd.... 710 7.12-15 7.10-12 7.12-15 7.07-10 7.00
July .*:.... 7.25 7.27-30 7.25 * 7.27-30 7.22% 7.15
May' bS' .... 6.92% 6.95- 6.92% 6.92-95 6.87-90 6.50
July 1!.... 7.12% 7.12-15 740-12 7.12.15 7.07% 7.05 '
Liberal Receipts Again, With
Slow Cash Demand—Millers
Doing Little
Minneapolis Chamber of Commerce
March 24. —The wheat market today had
a renewal of the weakness which was so
pronounced yesterday and prices were 2c
below the close of the day before, last
ing up to a short time before the close.
Brilliant weather, liberal receipts, large
Argentine shipments and a growing bear
ish sentiment all found free expression in
the wheat pit. The crowd sold wheat
from the opening on the curb until within
an hour of the closing, when some cov
ering developed which caused a closing
rally of about a cent. From all parts of
the winter wheat section came reports of
magnificent prospects of the growing crop.
Cash markets at all points, both north
west and southwest, reported a slow and
poor demand, while the foreign cash sit
uation -shows no improvement, the Ar
gentina shipments being the heaviest on
record, and the Modern Miller"s report
was decidedly bearish in its forecast.
The bears "started their attack on the
curb, and by the time of the opening had
forced May down practically a cent and
July %c. A further fractional decline fol
lowed this opening weakness before any
support was met. When the demand be
came more noticeable some of the weaker
shorts started to cover and this forced
prices upward about %c. The advance
was soon checked and then the bears
jumped on the market and offered wheat
down freely, resulting in a break of nearly
2c from the high point, the market con-
Fifth and Robert Sti.. Ijß 11
- *
Stocks. Grain, Provisions
Ship Your Grain To Us
Best Facilities. Prompt Returns.
Liberal Advances.
O'Connor & Van Bergen
stock* I RlVtlr C>r*C i Brain
■t into I JJI UlvCld IPfOviVont
341 Robert Street, St. Paul, Minn.
Members Chicago Board of Trade.
Established 1869.
The eldest, strongest and most reliable
house in the Northwest dealing in Stocks,
Bonds, Grain and Provisions. Correspond
ence solicited. Members Chicago Board of
Trade. Germania Life Insurance Bide..
St. Paul. Minn.
Butter - Eggs—Poultry
We Buy Hand Separator Cream
National Qorman American Bank Building
Chas. L. Haas Commission Co.
Lire Stock Commission Merchant!-
Room 10, Exchanea Bide-, Unicn Stooc Yards. S»
St. Paul. Minn., and Union Stork Yards. Chicago. 111.
Üboia! advances mad* on conslgnm#nt».
provisions 1 stocks —Bonds
Member Minneapolis Chamber of Com
merce, Duluth Board of Trade
Office—Main Floor Dispatch Building.
■ i • •» 7** <? reat'est' Live SLock Market, of - t.he Northwest.
No Lniif to the Demand for Fat CiHls. PihiirCiffli; St^irj, Firiiri, Huruji't^vi
_We are especially in need of Fat Cattle and Butcher Cattle v. •• '
tinuing weak until about 12:30, when
buying against puts and a covering by
the shorts rallied the market about a
cent, but dropping off a little Just before
the close. Stop loss orders were again
in evidence this morning and a lot of long
wheat went overboard on these selling
May wheat opened at $1.10%, Fold at
$1.10%, rallied-• to- -$1.11, ■ dropped to
$1.09%, rallied to $1.10%. closing at
$1.10%. July opened off %c at $1.06%,
sold at $1.06% fa 1.06%, up to $1.071,4. and
on the break sold at $1.06%, rallying to
$1.06% and closing at $1.06%. September
was slightly the stronger option today.
The opening was oft* %c at 85% c, which
proved to b the low point of the day. On
the late rally It sold at 86»;<\ closing at
8614<& 86Vic.
Minneapolis stocks decreased 400,000 bu
for the week. Receipts 316 cars, against
300 a year ago; Duluth 2. against 53; Chi
cago 42. against 8; Kansas City. 49. and
St. Louis 19.000 bu. Clearances of wheat
and flour 179,000 bu, and for the week
1,044,000 bu. against 1.801.000 bu a year
ago. Primary receipts 468.000 bu, against
416,000. Shipments 213.000 bu, against
295,000 bu. Argentine shipments 4,404.000.
last week 4,392,000 bu. last year 3,672,
--000. bu.
Liverpool wheat closed unchanged to
%d lower, Berlin and Antwerp unchanged,
Budapest %c lower, Paris wheat un
changed to 5 centimes higher. Flour un
changed to 20 centimes higher.
Modern Miller says; Highly favorable
weather for the growing wheat crop has
prevailed, and the growth of the plant
has progressed steadily and favorably.
The condition of the crop in general is
excellent for this time of the year, there
being few indications of damage from ad
verse weather conditions or Hessian fly.-
A feature of the reports this week is the
numerous references to the fact that the
plant is growing where it had failed to
germinate earlier in the season or where
had been feared wheat had been winter
Broomhall—Business in the Argentine
wheat markets is greatly hindered owing
to the difficulty of getting adequate rail
way transportation. This will cause a
continuance' of the delay in shipping at
Bahia Blanca. The. foreign demand for
wheat has fallen off since last week.
Plowing for the new crop has commenced
under favorable conditions.
LiverpoolWheat—The very heavy Ar
gentine shipments caused opening declines
of %d, with further losses of %d in May
and July. The tone improved later, how
ever, owing to the railway blockade in
Argentina, May reacting %d and July V4d
with shorts covering in the latter month!
Corn— opening unchanged good spec
ulative buying, as the result of an im
proved demand, caused advances of %d
and %d. ' ..- -■
Chicago Cash Business— of 2%c
in wheat failed to stimulate buying of
cash lots by mills Thursday and sales
were only 6.000 bu here. Prices averaged
li.»to.J^c1 i.»to.J^ c lower .No. 2 red remained at
old difference, lc to 2c over May in store.
No- 3 red sold at $1.07 to choice will bring
51 } 2 A ,_ No 3 hard brought $1.06 to $1.10
and 2 hard $1.10% to $1.12% f. o. b. The
only sales of spring wheat were at 96c
to 98c for No. 4. A car of not graded
Colorado sold at $1.03%. v
In St. Louis a car of choice straight No
2 red. sold at $1.14%, or 10c over May.
Kansas City was slow, with the low
gra «icSno Off 3c.\ but No- x northern ranged
at $1.03 to $1.06. Corn was easy early
sales at. %c decline.,with the demand not
on- ynn?°Kbrl« -, The actual business was
-!20.000 bu. including 100.000 bu for direct
export. Oats, although %c lower, sold
readily, 155,000 bu being picked up. At
the seaboard exporters sold 32.000 bu
wheat, 200,000 bu com and 20.000 bu oats
weather—Map shows generally clear
conditions, except in Manitoba and Ohio
valley. There were general rains in ll
linois, .Missouri and Ohio valley; local rains
in. lowa and Manitoba. Higher tempera
tures across the Canadian line and gen
erally lower on this side. I n the extreme
north and northwest it is generally cloudy
28 to 36 above, local rains 0.01 to 0.08
Northwest is generally clear, 24 to 36
above, precipitation 0.01 at Duluth West
and southwest generally clear
Forecast—lllinois, Indiana. Nebraska.
Kansas, Lower Michigan, Wisconsin—Fair
tonight and Saturday. South Dakota—
Generally fair tonight and Saturday
warmer tonight, cooler Saturday after
noon, brisk southwest winds. Minnesota-
Fair tonight, probably followed by showers
in northeast portion tonight, brisk south
erly winds. lowa—Fair tonight and prob
ably Saturday, warmer i n northwest to
night. North Dakota—Partly cloudy to
night and Saturday, warmer in east and
south portions, cooler Saturday brisk
southwest to west winds. Indications are
for mostly fair weather, with mild tem
perature throughout this district. West
ern disturbance will cause cloudiness, es
pecially unsettled weather in northwest
Closing Cash Grain Prices
♦i^ 1 hard $1.13%; No. 1 northern.
$1.11%; No. 2 northern, $1.07^@1.08»i-
No. 3 wheat $1.01*; No. 1 durum
91; No. 3 yellow corn. 44%; No. 3 corn
43c; No. 3 oats. 28^28%; No. 3 white
oats, 29%; barley, i?«43c;' rye. 77%®
79%; No. 1 flax on spot, $1.37%; No 1
opuon?,!^'.' 1- 36%J N°- l # MarCb
Puts and Calls
.'i Minneapolis May puts $1.09»i; calls.
$1.11%; curb. $1.10%. Milwaukee May
wheat puts, $1.10%; calls. $1.13%; July
wl»eat puts, 9c:- calls. 90 % c; May corn
puts, 48% c; calls, 48% c.
Minneapolis Receipts and Shipments
, in , " . . . Receipts. Shipments. 1
Wheat, bu. 303.360 83 420
Corn, bu ...18.800 - l 8 20
Oats, hu............... 99.640 ; 46400
Rye, bu ..... .... ..... 1,980 3 060
Barley bu............v 000 . 39 600
F1ax..bu...... 11,560 6 000
Flour, brls .... 4 |;J^J{
Cent Drop in Flax—Other Grains Lower
Except Oats, which Are Steady •.
Flax—The market Is decided .weak, an
other cent being lopped off of the prices.
Demand food at the decline. No. 1 flax
on spot closing at $1.37%, to arrive and
March shipment $1.36%. Receipts 17
cars and shipments 6.
Corn —The demand seems to have been
pretty well supplied, as it was only fair
today and prices suffered %c decline. No.
3 yellow closing at 44»4c. Receipts 20
cars and shipments 2.
Oats—A rather good demand, with
prices firm and unchanged. No. 3 white
< losing at 29% c. Receipts 63 cars and
shipments 32.
live—A. fair demand, with an easier un
dertone, closing figures being 77%@79%c.
Receipts and shipments the same. 3 cars.
Barley—Demand only fair and prices
easier, malting selling at 40G43c and feed
at 37<5 40<.\ Receipts 39 cars and ship
ments 36.
Feed and Meal —Coarse cornmeal and
cracked torn, in sacks, extra. $16 500
16.75; No. 1 ground feed. 2-3 corn and 1-1
oats, 80 lb sacks, sacks extra, $17.00®
17.25; No. 2 ground feed. % corn and V*
oats. 80 lb sacks, sacks extra, $17.50®
17.75; No. 3 ground feed. 1-3 corn and -4-3
oats, 75 lb sacks, sacks extra, $18.00®
18 25
Miilstuffs—Bran In bulk $14.25014.50;
shorts, $14.25^14.50; middlings. $16.00(3*
16.50; red dog, $19.00. all f. o. b. Minne
apolis; in 200 lb sacks. $1.00 per ton ad
ditional; in 100 lb sacks. $1.50 per ton ad
ditional. Shipments, 1.546 tons.
Hay—Reported by Cleveland &■ Co.: Re
ceipts of hay moderate and market firm
at quotations. Not enough good hay
coming in to supply the demand, but
there is a good deal of poor old stuff still
on track which is hard to sell at any
satisfactory price. Timothy, choice. $9.50
©10.00; No. 1. $9.00«9:50; No. 2, $7,000
8.00; No. 3. $6.00iH:7.00: upland, choice.
$7.00©7.60; No. 1. $6.506 7.00; No. 2. $5.50
fi6.50; No. 3. $4.0005.00: midland. $4,600
5.50; swale. $3.5004.00; rye straw. $5 50fr<)
6.50; wheat or oats, [email protected] Shipments,
90 tcna.
Minneapolis, March 24
No. 1 Northern Wheat—3 cars. $1.12%;
11 cars, $1.12%; 4 cars, $1.13; 1 car,
No. 2 Northern Wheat —4 cars. $1.09; 1
car. $1.07%; 1 car. $1.08%; 3 cars, $1.09%;
2 cars. $1.98%; 3 cars. $1.08%; 5 cars.
No. 3 Wheit—» cars, $1.00; 2 cars.
$1.02; 1 car. $1.00%; 4 cars. $1.02%; 3
cars, $1.03; 2 cars, $1.01: 4 cars. $1.04.
No. 4 Wheat—l car. 93% c; 3 cars. 91c;
3 cars, 92c; 32 car's, 90c; 2 cars, 96c; 1
car. 90% c; 3 cars. 92% c; 4 cars, 94c; 17
cars, 95c; 1 car. $1.03; 1 car, 97c; 2 cars,
93c; 1 car. $1.00.
Rejected Wheat —6 cars, 80c; 2 cars,
71V; | cars. 70c; 1 car, 76% c; 1 car, 73% c;
2 cars, 77c; 1 car. 85c; 2 cars. 73c; 1 car.
87c; 1 car, 78c; 1 car. 83c; 1 car, 81c; 1
car, 82c; 1 car, 76c; 1 car frost. 85c; 1
car bin burned. 78c; 2 cars, 65c; 1 car, 60c.
No Grade Wheat —1 car. 85c; 1 car, 75c.
No. 3 Corn—l car, 43% c; 1 car, 43c.
No. 4 Corn—2 cars, 44c; 2 cars, 43c.
No Grade Corn—l car. 42c; 1 car, 42y.c.
No. 2 White Oats—l car. 29% c.
No. 3 White Oats—l 2 c.irs. 29V«c.
No. 4 White Oats—s,ooo bu to arrive,
29% c; 15 cars, 29c; 1 car. 28% c.
No. 3 Oats—2 cars. 28'^c; 3 cars, 28c;
1 car, 29c; 2 cars, 28% c; 1 car, yellow,
27 %c.
No Grade Oats—l car. 28% c; 1 car, 27c.
No. 2 Rye—l car, 79c; 1 car, 80% c.
No. 3 Rye—l car. 80c.
No. 4 Barley—l car. 42c; 1 car, 39c; 1
car. 39 %c.
No. 1 Feed Barley—3 cars. 39c; 1 car,
37% c; 2 cars, 40c; 3 cars. 38% c; 1 car,
wheaty. 37% c; 1 car. 39% c; 1 car. 38c.
No. 2 Feed Barley—l car. 39c; 2 cars,
37% c: 2 cars. 38c; 1 car. 3s»«r.
No. 1 Flaxseed—4 cars, $1.39; 1 car,
dockage, $1.39%; 1 part car, $1.37.
No Grade Flaxseed— 1 car, $1.14.
Durum Wheat—l 'car No. 3 spring,
mixed. 88c; 1 car, no grade. 75c; 1 car,
rejected. 75c; 1 car No. 2 mixed, 86c.
Timothy Seed—€ 6 sacks, cwt, $2.35; 107
&3cks, cwt, $2.27.
Mustard Seed —22 sacks, per ton, $18.00.
Screenings—l part car, per ton, $9.00.
Inspected In — Wheat — Cars — Great
Noitnern—No. 1 hard. 1; No. 1 northern,
6; No. 2 northern, 18; No. 3, 27; No. 4,
59; rejected, 34; no grade. 3.
C. M. & St. P.—No. 2 northern, 6; No. 3,
6; No. 4, 24; rejected. 26.
M. & St. L.—No. 1 northern. 3; No. 2
northern 5; No. 3, 1; No. 4. 3; rejected, 1.
Soo Line —No. 1 northern, 17; No. 2
northern, 13; No. 3, 3; No. 4, 13; re
jected*, 7.
Northern Pacific —No. 1 northern, 1; No.
2 northern. I: No. 3, 6; No. 4. 19.
C. St. P.. M. & O.—No. 1 northern, 2;
No. 3. 1; rejected, 2.
Totals—No. 1 hard. 1; No. 1 northern,
29; No. 2 northern, 43; No. 3, 44; No. 4,
118; rejected. 69; no grade, 3.
Other Grains—No. 3 durum wheat. 2;
rejected durum wheat, l; rejected winter
wheat, I; mixed wheat, 6; western wheat.
I: No. 3 yellow corn. 4; No. 3 corn. 10;
No. 4 corn. 1; no grade corn. 2; No. 2
white oat«, 5; No. 3 white oats, 20; No.
4 white oats. 24; No. 3 oats. 7; no grade
<>ai5...2; No. 3 rye. 1; No. 3 barley, 3; No.
4 barley. 13; No. 1 feed barley, 18; No. I
feed bailey. 18; no grade feed barley, 3;
No. 1 northwestern flax. 2; No. 1 flax,
12; rejected flax. 2; no grade flax. 1.
Cars Inspected Out—No. 2 durum wheat.
1; No. 1 hard wheat. 1; No. 1 northern
wheat, 12; No. 2 northern wheat, 32- No.
3 wheat. 88; No. 4 wheat. 55; rejected
wheat, 8: no grade wheat, 4; mixed wheat.
1; No.- 3 yellow corn, 3; No. 3 corn, C;
No. 4 corn, 2; no grade corn, |j No. 3
white-cats, 25; No- 4 white oats, 20; No. 3
oats, 2; No. 3 barley. 1; No. 4 barley. 24;
No. 1 feed barley, 4; No. 2 rye, 1; No. 1
northwestern flax, 4; No. 1 flax, 2- re
jected flax, 1.
The following are the receipts and ship
ments at the principal primary wheat
Receipts. Shipments.
New York 23.400 16 295
Philadelphia 1100
Toledo 5.000 1.000
St. Louis 19,000 57,000
Chicago 64.000 40,454
Milwaukee 7.040
Duluth 13.724 2,169
Minneapolis 303.360 83 420
Kansas City 54.000 24*300
Millers Knock Ten Cents More Off the
Patents —Demand Fair
The weakness In the wheat market
caused a further lowering in prices of 10c
on patents, clears remaining unchanged.
Demand is only fair, buyers again holding
off for lower prices.
Shipments. 48,073 brls.
First patents. $6,004x6.10: second pat
ents, $5.80#5.90; lirs! clears. J4.25&4 45
second clears. $-.'[email protected]:».BO. (These are all
f. o. b. in wood.)
Feed and Meal—Coarse cornmeal and
cracked corn. ton. $16.75; ground feed.
No. 1. two-thirds corn and one-third oats
$17.25; ground feed. No. 2. half corn and
half oats. $17.75; ground feed. No. 3, one
third corn and two-thirds oats, $18.26
Titan and ShoTif—Bran in bulk, $13 bfr
bran in sacks, 200 lbs, $14.25; bran In
sacks. ]00 lb«. Ji-hOO; standard middlit.es
in bulk. $14.00; standard middlings "00
lb sacks, $14.75; standard middlings 100
Hi t.ack.«. $15.00. middlings, flour, UuVa
$16.50; middlings, flour, 100 lb sacks'
$17.00; oil meal, per ton, $27.00.
tiaj—Rec»*li ts 4 oajs; choice prairie
$8.00; No. 1 prairie, $7.00^7.50; No
prairie. $4.50(94.76: No. 3 prairie. $3.00®
$3.75; No. 1 midland, [email protected]; No I
midland. $3.00(&3.25; choice timothy.
$9.50; No. 1 timothy. [email protected]; No J
timothy, $C.25(ri'7.26; No. 3 timothy, $5 00
@6.00; No. 1 clover hay, [email protected] No.
1 clover hay, mixed, $6.25©7.25; No °
clover hay. mixed, $5.00#6.00; packing
bay. [email protected]; no grade. $2.00©3 Otu
rj'e straw. No. 1. $6U)[email protected]; No. 2"" $3 60
(&'4.50; wheat and oat straw. $3.00®4 50
Flour—Patents, firsts, $$.<W S*MO- pat
ents, second. $5.80#5.90; clears, 'firsts
|<[email protected]; red dog, per ton, 140 lb sacks)
CHICAGO. " March 24—Butter : firm
creameries. [email protected]; dairies.'-18©23cT Eggs
steady; at mark, cases included, 15* c
Cheese steady; daisies. 13$<13*c- twins
[email protected]»4c; Young Americas. -'13% c. Poul
try— Lrfve firm: - turkeys.-13c; chickens.
13c; springs.«13c. ■ Potatoes steady; bur
banks.--25©27c;-. rurals, . [email protected] Veal
steady; 50 to 60 pound-.weights,. 4 >4c-C5
to 75 pound weight*,- s<&6^c; SO to' 12*
pound-weights, 7®*o. „ &.\\™ ° -I**
Wheat Weak Up to a Short
Time Before the Close-
Corn Strong
CHICAGO, March 24.—Liberal ship
ments from Argentina and constantly
brightening prospects of a bumper crop
in the l.nited States caused weakness in
the wheat market here today. At the
close wheat for May delivery was down
%c. July wheat Is off %@%c. May corn
is also off %@%c. Oats are unchanged
and provisions are up sc.
From the outset the wheat market was
under the influence of Increased ; ship
ments from Argentina and continued ex
cellent weather conditions in the .United
States. May wheat opened *4c to 7»c
down at $1.12 to $1.12*;. July was off
%c to %c at 90>*c to 90% c. ■ On the
Initial break a fair demand developed for
the July delivery, causing an advance to
90*4 c. Trading in May, however. was
dull. Large receipts In the northwest
and extreme weakness at Minneapolis ac
counted for the inactivity of May. As
trading progressed, sentiment In the pit
became more bearish. The main consid
eration apparently was a growing belief
that the fall sown crop of wheat would
prove of vast proportions. Advices from
various sections of the winter wheat belt
reiterated reports of favorable progress
In the growth of the plant.
A St. Louis trade paper's weekly report
on crop progress was construed especially
bearish. The condition of the crop, ac
cording to this report. is excellent for this
time of the year, there being few Indica
tions of damage. A feature of the report
was a reference to the fact that the plant
is growing where there had been failure
to germinate earlier In the season. The
bulls found no encouragement in primary
receipts, arrivals today being considerably
In excess of the total for the correspond
ing day a year ago. With practically no
support prices steadily declined until May
had touched $1.11». July sold off to
89% c. Late in the day some recovery
took place on a report that the leaders in
the May deal had decided to rally to the
support of that option. The market, how
ever, closed rather weak with May at
$1.12%. Final quotations on July were at
»0%6»90%c. Clearances of wheat and
flour were equal to 178.900 bu. Exports
for the week were equal to 1.045.000 bu.
Primary receipts were 467,700 bu, com
pared with 415.800 bu a. year ago.
Minneapolis. Duluth and Chicago re
ported receipts of -SCO cars, against 269
cars last week and 346 cars a year ago.
Considering the weakness of wheat the
corn market showed considerable strength.
Higher cables resulting from decreased
shipments for Argentina gave the mar
ket a firm start. Reports from the coun
try told of the poor condition of roads,
and the inference drawn by many traders
was that receipts would soon begin to
fall off.- This helped to stimulate de
mand. Commission houses were the prin
cipal buyers. Cash houses sold. The
market held firm the entire day. closing
prices being almost at the highest point.
May opened a shade lower to %c higher
at 4Sli©4B*& to 48% c, sold between ii%L«
and 48*4 c, and closed at 4S&@4S*ic. Lo
cal receipts were 281 cars, with 2 of con
tract grade.
Sentiment In the oats . pit was rather
bearish as a result of warmer weather.
Cash houses were the principal sellers.
Increased local receipts had a weakening
Influence. May opened unchanged to a
shade higher at 30% cto 30%@30%c. sold
between 30* c and 30*4 ©30?; c and closed
at 30?ic. Local receipts were 143 cars.
Provisions were- firm in sympathy' with
higher prices for live hogs. The volume
of trading was very small. May pork
closed at nn advance of 5c at $12.82%.
Lard and ribs also were up 5c at $7.12»A
©7.15 and $G.92%@6.95.. -
Estimated receipts for tomorrow: • "
Wheat, 24 cars; corn. 410 cars; oats.
227 cars; hogs 16,000 head.
Cash quotations were as follows: Flour
easy. No. 2 spring wheat. $1.0801.12; No.
3. [email protected]; No. 2 red.• $1.12\©1.14%.
No. 2 corn. 48c; No. 2 yellow, 48»4c No. 2
oats*. 30*ic: No. 2 white, 32% c; No. 3
white. 30%©31\c. No. 2 rye, [email protected]%c.
Good feeding barley. [email protected]; fair to choice
malting. 4347 c. No. 1 flaxseed, $1.24;
No. 1 northwestern, $1.36. Mess pork, per
brl. $12.756>12.50. Lard, per 100 lbs, $7.oo<n>
7.02%. Short ribs sides (loose). $6.75»
7.00. Short clear sides (boxed). $7.oo<st
7.12%. Whisky, basis of hlghwlnes. $1.23.
Clover, contract grade. $13.36. Flour 47.
--300 brls; wheat. 64,000 bu; corn, 408.000
bu; oats. 284.200 bu; rye, 4,000 bu; barley
30.800 bu. Shipments— 32.400 brls;
wheat. 40,600 bu; corn. 443.200 bu; oats.
168,400 bu; rye. 3.500 bu; barley. 24.700
bu. On the produce exchange today the
butter market was firm; creamery. 20©
27c; dairy, 20#24c* Eggs firm; at mark,
cases Included. 16>4c; firsts. 16c; prime
firsts. 17c; extras. 18c. Cheese, 12#13%c.
New York—Flour—Receipts. 22.005: ex
ports. 19.657; more active, but barely
steady. Rye flour steady. Buckwheat
inactive. CornmcaJ steady. Rye nominal.
Barley dull. Wheat—Receipts. 23.400; ex
ports. 16.295; spot easy; No. 2 red nomi
nal elevator; No. 2 red. $1.15% f. o. b.
afloat: No. 1 northern Duluth, $1.20%,
f. o. b. afloat; No. 1 hard Manitoba. $1.08
I- o. b. afloat. There was almost steady
decline in wheat up to the last hour when
prices rallied on covering and with corn.
Selling motives consisted principally of
the bearish weather and crop news, while
the late raliy was on covering and sym
pathy with corn. Final prices represented
%c to %c net decline. May $1.10%@l.ll«4,
closed. $1.10%; July, 94%f*95V4c, closed
94;4c;- September. S7#«jS7*4c, "closed.
Bi«4c. Corn—Receipts. 82.455: exports.
60,288; spot linn; No. 2, 67%«i55c eleva
tor and 63%&54 ct. o. b. afloat; No 2
yellow.. 54% 55c; No. 2 white. B4\4c Op
tions market was fairly active and gen
erally firmer on light ■. offerings and bull
support, coupled with talk of prospective
smaller receipts. The close was &c net
higher. May. 54*4tr54&c. closed 64V4c;
July closed »4%e. Oats—Receipts, "96,000;
exports. 1.270; spot dull; mixed oats. 26
to 32 pounds. 36©36»4c; natural white. 30
to 32 pounds, 37«?38%; clipped white. 36
to 40 pounds, [email protected]
. Duluth. . Minn.—Wheat stocks are ex
pected to show but little change this
week and flax to decrease 15.000 bu. The
wheat market was fairly active and weak.
May opened %c lower at $1.07»». sold at
$1.07%, fell to $1.0634 and closed at $1.07%.
a loss of l»4c. July fell lHc Flax was
dull and lower; May lost l%c. Oats ad
vanced %c. The close: Wheat to arrive.
No. l northern. $1.06%; on track. No. 1
northern, $1.06%; No. 2 northern, $1.00%
©1.03%; durum. No. 1, 93c; No. 2, 92c;
May. $1.07*4; July, $1.05%; September.
86c; flax to arrive. $1.37; on track.- $1.37;
May, $1.37; oats to arrive. 30% c; on
track. 30>4c; rye to arrive. 77c; on track.
77c; barley, feed. 33c to 37c; malting, 37c
to 44c. Cars inspected: Wheat 7. last
year. 53c; oats, 13; flax none, last-year
72. Receipts— 13.724 bu; oats.
27.721-..barley. 299; flax, 4,267. Shipments
—Wheat. 2,169.
Kansas City. Mo—Wheat—Lower; May,
94%; July. 79?,@79%c: cash No. 2 hard.
[email protected]; No. 3, 97«c®J1.03; No. 4.
86c©98c;.No. 2. red. $1.05© 1:08; No. 3.
$1.03(&1.06; No. - 4.-90C&J1-02. Corn-
Weak; May. ;44%©45c: July;-44%c; cash
No. 2 mixed. 45% ©46c; No. 3, 45\c; No.
2. white. 46^46\ic; No. 3, 46c. Oats—No.
2 white, 33VHr34Hc; No. 2 mixed, [email protected]
Liverpool—Wheat—Spot steady: No. 1
California. Cs lOd: futures steady; May,
6s Bftd: July. 6s 7%d; September. 6s BV«d.
Corn—Spot tirm; American mixed. 4s 4Vid;
American mixed old, 4s lid; futures quiet;
March. 4 S 3 T*d; May. 4s 4\d.
Milwaukee. WU.—Flour—Dull. Wheat—
WuiA, No. 1 northern. 5113,*. No. a
northern. $1.08©1.12; July. 90%©90% c;
puts. 90c bid; calls. 91c asked. Rye—
Steady; No. 1. 64>[email protected]%c. Barley—Dull;
No. _'. 51c; sample, 38^50c. Oats—Steady;
standnrd. 31%032c. Corn. %c higher; No.
S. 47%; May. 48% c bid; puts, 48% c asked;
calls, 48",, c asked.
ST. LOU 18
St. Louis—Close.: Wheat—Lower; No. 2
red cash elevator. $1.04%; track. $1.14;
May, $1.04%; July. 84%«54%c; No. 2
hard. [email protected] Corn—Higher; No. 2
cash. 46c; track, 47%048c; May. 46% c;
July. 46%e. Oats—Higher; No. 2 cash.
30%; track. 31fc32c; May, 29c; No. 2 white,
A. J. Cummings received the following
from R. McKlnnon. special partner of
Logan & Bryan. Chicago: "I see nothing
in the wheat situation on which to bull
-the new crop futures.. Sell July and
September on all rallies. Our private
wire system from coast to coast enables
us to keep in very close touch with the
Edwards- Wood CoProvision prices
have ruled strong and generally higher.
The character of the trade shows little
change from yesterday. Receipts of hogs
are very moderate, while the demand from
shippers la strong. Prices at the yards
for the week have averaged around $5.35,
against $5.13 a week ago and $5.35 a year
ago. Liverpool markets were not as weak
today. Quotations on lard show an ad
vance of 2d. We do not see much in
the conditions to base claims for a lower
market, and think weak spots will be only
temporary. '
* LiVrP,?°'— Supply— to
day. 6,624,000 bu: week ago. 3.888.000 bu;
year ago. 4.446.000 bu. Corn today. 634.
--5910 eek a *°I 676000 bu; year a *°-
Chicago—Market holds well, with weak
ness in wheat and estimate of 410 cars
for tomorrow. J. H. Wren offering 100
corn %. Pit traders bearish to man.
Argentine Visible—Wheat today 6 624 -
;°,°.^ bi I n :week aSO. 3.858.000 bu; year ago.
4.446.000 bu. Corn today. 634.00& bu: week
ago, 6.6.000 bu; year ago. 691.000 bu.
Chicago—Valentine selling little May
wheat around $1.12% to $1.12%. July
wheat opened easier on weakness on Min
neapolis curb. Rules steady since open
i A i Liverpool house cables: Spot wheat
dull futures firm, advancing in sympathy
£lth a good demand from the continent,
torn firm, with a better demand.
Broomhall— Argentine corn mar
kets are now easy, owing to the small
foreign demand. The weather continues
favorable for gathering the crop.
Peoria wires: Receipts about 40 cars
■Weather line. Nothing bought at the
stations. No acceptances on our card
New York to A. J. Cummlngs—Market
is closing very strong at about best prices
of the day. Pronounced strength in the
southern steel properties has been the
feature of the market. Both rails and
industrials have participated in the gen
eral advance, with short covering very
urgent, In the early dealings some little
hesitation was* shown, but through most
of the session the market has been broad
and buoyant. As suggested in our letter
of yesterday, the dragging tendency of the
market the past ten days had naturally
encouraged the bears and increased the
short Interest materially. In special stocks,
particularly the steels., they are paying
dearly for their hardihood. All things con
sidered market acts as if it has had its
break and the closing tonight holds out
more promise than for some time.
-. New York— is thought that the plans
for a merger of the southern Iron com
panies has not been abandoned, but that
new Interests have taken it in hand and
It will be carried to a successful conclu
sion before the end of May. The new con
tracts of Republic Steel and Iron com
pany with the Plttsburg Steel company Is
a bull card on Republic preferred, and
this stock should. sell higher in view of
the expected payment of dividends on it
during the coming year.
New t York—Hilton says: 'The recent
sharp rise In Northern Securities and the
pronounced and prolonged strength of the
standard railroad shares following the re
cent absorption under the accumulation
by premier market manipulation is most
significant of early developments of far
reaching importance in the railroad situa
tion. There are some undercurrent mat
ters which have been.nosed out and some
facts which have come to us under the
seal of secrecy that bear on the greatest
deal of recent years. It will pay to re
main a bull."
„ New York—lt Is understood that United
States Rubber directors at a meeting In
the last of this month will declare an ex
tra dividend of 2 per cent on preferred
stock In addition to the regular. 1% per
cent. For the current year the company
has already paid 4% per cent. . The extra
dividend will make the dividend for cur
rent year equal to 8 per cent. It is
the intention of -the company to keep the
dividend hereafter on the 8 per cent basis.
Official says more than double the amount
of preferred stock dividend at present
New York—The gossip is again heard of
the change of control of Union Pacific
from Harrlman to Morgan Interests. The
Lead issues are again being, accumulated
by certain interests who have been ac
tive in the stock for some time. I suggest
taking profits now. Think you can replace
cheaper later on. : -
Butter — Creamery—Extra, [email protected]<*
firsts. 24^(&^5«4c Dairies, extra. 20®2.V;
firsts. 18<&;20c; renovated. 22^@23c; rolls
and prints. fancy. 19©20 c; rolls and
prints, common, [email protected]; packing stock,
fre.-h. 18c; grease s«\
Cheese—Twins, fancy. 14c; twins or
flats, storage. lO^llfcc; Young Amer
icas, fancy. [email protected]^c; brick. No. 1. 15c;
brick. No. 2. n«il2c; limburger. No. 1,
new, 14^c; primost. No. 1. 8c; pultost.
10c: Swiss cheese. No. 1. wheel. 14<ai4^c;
Swiss cheese. No. 2. wheel. 13c.
lOggs— at mark, cases included. 14^c.
Beans-^Choiee to fancy, navy, per bu
$1.35^)1.85; brown, fair to fancy, $1.75' a
Peas—Yellow peas. $1.25.
Potatoes—Home grown, car lots. 25c:
sweet, brl. $4.50.
Vegetables—Beets, per bu. 40c; beets,
new. doz. 75c; cabbage, per cwt. $1.00;
cauliflower, crate. $3.50<G $4.0n : carrots, bu
40c; carrots, new. doz. 75c; celery, home
grown, doz, 30<S35c; California, crate,
$5 00W5.75; cucumbers, doz, $2.00; lettuce,
box, 60c; mint. doz. $1.00: onions, dozen
bunches. 25#30c; onions, cwt. $2.25; pars
ley, dozen, 40c; radishes, dozen bunches,
75980 c; rutabagas, bu. 40c; turnips. 40c;
turnips, new, 75c; tomatoes, Florida. 6
basket crate. $4.00^14.^5.
Grapes—Malagas, keg. $5.00®5.00.
Apples—Fancy varieties, fl. 75<&>4.50;
western box apples. $1.50<;5;:».75.
Strawberries—-Quart. Me.
Cranberries—Jerseys, brl. $7.00.
Bananas—Per bunch, as to size, $1.50'»
Lemons—California, per box. $3.25®
Oranges—California navels, $2.40®2\60;
seedlings. $2.00; Florida grape fruit, $5.50
@6.00; California grape fruit, $3.50
Dressed Meats—Veal, fancy, 7«j)74c; fair
to good. 6«£6^c: mutton, country dressed.
"[email protected]; fall lamb, round dressed. 10-^ lie.
Hogs—Country dressed. sV4<?rs%c.
Dressed Poultry—Spring chicks, fancy,
12©12Vfcc; spring chicks. No. 2. 10©llc;
hens, fancy. [email protected]; hens. No. 2, B®B%c;
turkeys. No. 1, hens. 17&181& C; turkeys,
thin and poor, 114j,14c; turkeys, old toms,
14fi>15c; ducks, lZ&lZc; geese, ll®l2c.
Fish—Pike. 7%c; sunnsh. perch, etc.,
4%c; frog legs, dozen. 6<yßc; Lake Su
perior herring, [email protected]%c.
NEW YORK. March 24 — Copper ad
vanced in London, closing: at £67 16s for
spot and £68 2s 6d for futures. Locally
the market is quiet and without material
ih:ir.Ri\ Lake is ouoted at $?5.37' 1 .'a
15.50; electrolytic. [email protected]%; casting
at $14.87^^15.25. Iron closed at 54s 6d
In Glasgow and 49s in Middlesborough.
Locally the situation was unchanged. No.
1 foundry northern is quoted at $17,960
18.25; No. 2 foundry northern at $17.50®
18.00; No. 1 foundry- southern and No. 1
foundry southern soft at $17.75©18.25.
NEW YORK. March " —Cotton fu
tures closed^ quiet; March. 7.59 c; April.
7.69 c; : May. 6.69 c; June. « 7.59 c; July. 7.60 c;
August. 7.03 c; September. 7.64 c; October.
T.GSc: * November. - 7.71 c; December. - 7.74 c;
January, 7.77 c. • Spot cotton closed quiet;
middling • uplands. 8.15 c; middling ' gulf.
8.40 c: sales, 200 . bales. ■<:'^SHnßgßt
New York m ;..., • i-
Call money .3%@3% per cent New York exchanee'* « ...
Sixty day sterling $4.83.75 80c premiumf bSv^s "rife' 30*
Cash balance 139,461,730 , mentary exchange, $4 83%.
St- Paul $1,055,974 I Minneapolis $3,041,974
Quotations furnished by Edwards-Wood
Co., main office Fifth and Robert streets,
St. Paul.
: ) i I I Bid
. ISaloslHtehlLowfciose
Atchison 11000 i»o%| 89% 90
do pfd i 2200 102% 102% 103
Atlantic Coast Line 2300 142% 140% 142%
Baltimore & Ohio.. 10600 109% 108%1109i>
do pfd ! 96%
Canadian Pacific ... 22300 149 148 148%
Central of N. J I 100 199 199 199 %
Chesapeake & Ohio. 23400 58% 57% 57%
Chicago & Alton 100 41 41 41%
do pfd 800 81% 81 80 '
Chi. Gt. Western... 2000 24% 23% 24
Chicago & N.-W... 2400 243 240% 242%
•C. M: & St. P 22800 177% 176% 177%
Chi. Term. & Trans. 100 IS 18 IS
do pfd ] 3200 36 ]35 35%
C. C, C. & St. L.. 600 109% 108% 108%
Col. & Southern ... 300 24 I 23% 24
do Ist pfd 100 60 60 59%
do 2d pfd 100 35 35 3434
Delaware & Hudson 100;i89%!188%!l89%
Del., Lack. & West L...!|....?876
Denver &R. Grande 100 33% 33%! 33
do pfd I 600 89% 89 " ' 89%
Erie 26800 46% 45% 46%
do Ist pfd 1100 81 80% 80%
do 2d pfd 2800 *8% 67% 67%
Hocking: Valley .... 100 94 94 93%
do pfd 100 93% I 93% 93%
Illinois Central 1000 161 160% 100%
lowa Central 700 24% 27% 28%
do pfd 1600 54i, 54% 54
K. C. Southern 200 28% 27% 29
Ldo pfd 600 65 03% 65
Louis. & Nash 4600 141% 140% 141%
Manhattan L 1700 168 168
Met. Securities 16300 ! 88% 187 88%
•Met. Street Ry 13400 123% 122% 123%
Mexican Central ... 3000 24% i 24% 24%
Minneapolis &St L 200 62% 62 61
M.. St. P. &S.S. M. 1300 118 117% 117
* do pfd 800 166% 166 'i 166%
Missouri Pacific ... 8300 107% 106% 107%
Mo.. Kan. & Tex... 300 31% 31 Vil 31%
do pfd 400 66% 65% 66%
N. R. R. of M. pfd !.... .'.... i 40
New York Central.. 47100 161% 160 161%
N. V.. O. & W 8700 59% 58% 59%
Norfolk & Western. 3SOO So*? 85% 85%
Northern securities . 101% ' .'
do pfd 100 1 93 1 93 92
Pennsylvania 35100 143 141% 142%
P.. C. C. & St. L... 100 84 84 83%
Reading 47000 95% 94% 95
do Ist pfd 900 91 91 91%
do 2d pfd ■ 89%
Rock Island Co 31100 34% 33% 34%
do pfd 4400 80 79% 80
St. L. & S. F. 2d pfd 70%
SJ. L. S. W I 1100 26% 26 26
do pfd 2100! 65 64% 64%
Southern Pacific ... 24800 68 67 67%
„ do pfd 500 118% 118% 118%
Southern Railway.. 2500 35% 34% 35
•do pfd 600 98 ! 97% 97%
T. C. R. T 21700 144% 112% 113%
Texas & Pacific .... 7100 38-% 37% 38%
T., St. L. & w .\.'.. 800 38% 37% 38%
- do pfd ;, 400 57% 57% 57%
Union Pacific 1 86600 131% 129 131%
do pfd 1100 99% 99% 99%
Wabash 3700 23% 22% 22%
do pfd ... .... 3200 47% 45% 46%
Wheeling & L. Erie 18
Wisconsin Central..!'3oo 23% 23% | 23%
do pfd j 900 51% 50% 52
Amal. Copper 57300 79% 78% 79%
Am. Sugar Refining 6200 141% 141 141%
Brooklyn R. T 14200 68 66% 67%
Col. Fuel & 1r0n.... 84100 69 67% 58%
People's Gas ! 8600 112 110% 111%
Republic Steel 22300 21% 20% 21%
dop fd 24700 82 79% 87%
United States Steel: 72100 35% 34% 35%
do pfd 54400 95% 94% 95%
Western Union .... ! 300 92% 92% 92%
•Ex dividend. '. ~
Total sales for the day, 1,292,000 shares.
U.S.ref.. 2s,reg.. 104%(Japan 6s. ctfs... 101*4
do coupon 105>4!L & N uni 45....103^4
do 3s, reg 104% Man c gold 45...106%
do coupon 105 Mcx Cen 4s 77%
do n 4s. reg...132% do Ist mc 24%
do coupon 132% .fM & St L 45.... 96%
do o 4s. reg..lo4H M X & T 45.... 101%
do coupon 105% do 2ds 85%
Am Tob 4s. ctf. 74% N RR of M c 4s. 82%
do 6s. ctfs 117%N C gen 3%5..100
Atch gen 4s 104% N J C gen 65....135>4
do adjt 4s 96% Nor Pac 4s 106
Atl C L.-48.. 101 ! do 3s 76%
B & Ohio 45... .105 !N & W con 45..103^4
C of Ga 5a 116 iOSL rfdg 45... 97%
do Ist mc 92 iPenn cony 3%5..104%
do 2d Inc 71 Reading gen 45.. 102%
C & Ohio 4%5..106% fSL, & IM c 55.. 119%
C & Alton 3%5. 82 SL. &SF fg. 45.. 90%
C B & Q n 45.. 99% St L Sw con 45.. 82%
C R I & P 45... 82 ISea'd A L, 45... 90
do col 5s 94 So Pac 4s 95
fCCC & 8L g 45102% So Ry 5s 119%
Chi Term 45... 97 Tex & Pac 15t5.,122%
Col Mid 4s 75% T St L & W 45.. 86
Col & So 4s 93% Union Pac 45....106
Cuba ss. .105%' do cony 4s 132%
D & Rio G 45... |U S Steel 2d 55.. 94%
Dis Sec 5s .. 81%IWab lsts 118%
Erie p. 1. 45....101% do deb B 74%
do gen 4s 93% West Mil 4s 93*4
FW &DC lsts.lll W& L E 45..... 92
Hock Val 4%5.,110% Cen 4s 941,4
fOffered. 7
BOSTON, March 24.—Closing copper
quotations: Adventure. s%'a'i; Alloucz,
22*4 @22%; Arcadian. 1%®1%; Atlantic,
16»..t?i16%; Bingham. 30030%; British Co
lumbia. 6& B r</t>" M ; Calumet & Hecla. C6s6jj>
670; Centennial. lT'^/ls; Consolidated
Mercur. 30(fJ3"; Copper Range Consolidat
ed. 7614076%: Daly West. [email protected]:>%; Do
minion Coal. 80Vi asked; Dominion" Steel.
23>4«23%: Elm River. 2%®2%; Franklin,
104*10%; Granby. 5=406; Guanajuato, 4%
c<ii\: Greene Consolidated. 28<fi>28%; Isle
Royale. 24%<fD25: Massachusetts. 1114 "9
11%: itayflower, 1 asked: Michigan. 13% 4*
14; Mohawk. 53%&54; Old Colony, 101%;
Old Dominion. 26*4fi)27; Osceola, 99%
100; Parrot. 27%@25%: Phoenix. 1%@2;
Quincy. 1060108; Rhode Island, I%<W>2;
Santa Fe. 21A<a2%; Shannon Copper Co.,
7%©8: Swift & Co.. 108%fa)109%; Tama
rack. 1300135; Tecumseh. 2%ft3; Trinity,
10i t ',;10%; United States Mining. 24%' si/
25; United States Oil. 9%#9%; Utah. 41%
©42; Victoria. 4Vs'«s; Winona, 12%© 13*4;
Wolverine, 1111* 112; Wyandot, [email protected]&.
NEW YORK, March 24.—The market
for coffee futures opened steady at a de
cline of s#lo points, following lower Eu
ropean cables. Offerings were very light
however, and later in the session a mod
erate demand from local bulls and im
porters was sufficient to partially rally
prices. The close was quiet and un
changed to a decline of 6 points. Sales
were reported of 35.760 bags, including
May at 6.40 c; July. 6.55 c; September
6.75 c; December. 6.95 c. Spot Rio quiet-
No. 7 invoice. 7%c; mild steady.
Sugar—Raw. nominal: fair refining,
4>4c; centrifugal. 96 test. 4&c; molasses
sugar, 4c; refined, dull.
Equitable Faction Objects
NEW YORK. March 24.—A commit
tee, headed by John D. Orimmins of
this city and claiming to represent a
large number of policy holders in the
Equitable Life Assurance society, met
today and expressed disapproval of the
four year mutualization plan adopted
by the directors. The committee an
nounced its intention to work for the
election of the Equitable's entire board
of fifty-two directors by the policy
holders, instead of twenty-eight, as
proposed by the directors. The Crim
mlns committee applied to the statt
superintendent of insurance for a hear
ing, which has been granted and the
bearing filed for Tuesday.
warn steels
Railroads and Industrials on
Covering by the
NEW YORK. March There wa« a
pronounced upturn i n the course of prices
on the stock exchange again today which
was undoubtedly due in part to the clos
ing up of short contracts put out On the
decline during the week Yesterdays
market already showed symptoms that
the decline had run to a point where ef
fective resistance was encountered and
sufficient buying demand was met to sup
port prices. Bears with uncovered short
contracts accepted this warning and
bought to. cover very generally today.
1 here was at the same time a marked
revival in the circulation of rumors of
the same class and for the most part
identical in form with those which havo
already served many times to excite a
demand for stocks. The associated
strength of the New York Central, Union
Pacific and North-western was a notable
case i n point. The information dissemin
ated on the break yesterday was that con-
Proese Onr lOdV Pacific had passed from its
present* hands.
Rumors Galore
♦v,T?(l ay •the information was renewed
»"th bU i yVne " the best character, namely
in the. interest of persons already in con
trol was conspicuous in both New York
Central and Union Pacific. News or ru
mors of this character are of as great
effect in the excitement to speculation as
the most explli 't announcement of plans
affecting the control operation of a prop
erty, ihe southern iron combination was
another project which was paraded before
the imagination of speculators with proved
effect, as show n by the. wide movement
in stocks of that group. The long time
reports of a merger of lead interests was
another effective instrument in the up
ward movement of prices
Old and new dividend rumors also
played the r part, stocks in the rubber in
dustry being especially affected. The
Metropolitan stocks had the benefit of
hopes of success hi securing contracts
for further subways in the efforts making
on behalf of those interests. Colorado
Fuel wa s still in demand on the strength
of Its subscription rights to new securi
ties. A glance over the list will show the
important part played in the recovery by
stocks thus specified as under individual
influences. The reversal of sentiment on
the general market situation was at
tributed to subsidence of fears of string
ent money.
Foreign Exchange Declines
• The headlong plunge in the price of
foreign exchange was the principal fac
tor in the change of sentiment. The In
dications thus given of the freedom with
winch foreign money resources :u<- be
coming available to the New York mar
ket proved greatly reassuring. The price
or exchange whs pronounced to bo within
measurable distance of the gold import
point and it was felt that actual need for
money here would lead ptomptly to an in
ward movement of gold. Account was
taken, however, of the accompanying
sharp drop in the sterling exchange rate
:<t Paris, which has fallen 3 centimes In
the pound in two days past, showing con
siderable increase in the demand from
that center on London.
Estimates of the domestic currency
movement indicate a considerable loss ill
cash by the banks <.n the weeks move
ment which is practically all measured
by the subtreasury absorption of $3,756 000
up to Thursday night. Hut the sharp
liquidation of the week in stocks and the
large resort had to foreign lenders is ex
pected to result in a large contraction In
the volume of loans of the banks with
consequent benefit to the surplus item.
The allotnA-nt to American subscribers
of a full half of the new $150,000,000 Jap
anese loan was regarded as a highly
gratifying evidence of the abundant cap
ital resources at command in this market
Something was, made of the belief that
opposition to the stock transfer tax in
the New York legislature would prove
effectual. The profit taking in the last
hour was well absorbed and the market
closed strong and animated at the best
prices of the day.
Bonds were strong. Total sales par
value, $4,420,000. Tnited States 3s coupon
advanced % per cent on call.
WASHINGTON, March 24.—Today's
statement of the treasury balances In ti;.»
general fund, exclusive of the $150.0u0.
--000 gold reserve In the division of redemp
tion, shows: Available cash balam •-,
$139,461,730; gold. $C6,7yL'.060; silver, Sl's,
NEW YORK. March 24.—Money on call
firm, :;«i.:;% per cent, closing bid :.',. of
fered at 8%. Time loans steady: 60 a!:cl
90 days. 3>4©3% per cent; six months, 3%
per cent. Prime mercantile paper, ::\-<i
4% per coat. Sterling exchange weak,
closing steady, with actual business in
bankers 1 hills at [email protected] for de
mand and» at $4..s:{.7">'Si 1 .s::. so for sixty
day bills; posted rates, $4-84%@4.85 and
14.86% @4-87; commercial bill's. $4
Bar silver, 57' 4 c- Mexican dollars, it'-r.
Government bonds firm; railroad bonds
strong 1.
LONDON. March 24.—Money was in
good demand in th»- market today and
supplies were reduced. Discounts were
fairly steady. Tiading on the stock -x
ehango was moderately active, the near
ness of the settlement restraining opera
tions, standard issues being realized to al
low funds to be invested in the attractive
new Japanese loan, which is already at 1
per cent premium, and the Siamese 41.
per cent of $5,000,000. which was Issued at
95%. was largely oversubscribed and was
quot< d at 2^4 per cent premium. In con
nection with the Siamese loan the man
agers of the Hongkong and Shanghai bank,
realizing that there would be a rush as
sembled the staff early and opened the
lists at 9 o'clock this morning. The lists
were closed at 10:45 a. m. Consols eased
slightly. Americans opened firm and im
proved a fraction to over parity. Canadian
Pacific. Chicago. Milwaukee «fc St. Paul
and L'nion Pacific were the features. The.
undertone was good and prices further
advanced and dosed firm. Grand. Trunk
was firm, despite the fact that the traffic
returns did not equal expectations. For
eigners were steady. Russians were sup
ported early, but weakened later. Japanese
6s of 1904 were quoted at 104"s- The
amount of bullion taken Into the Bank of
England on balance today, £4<,000.
PARIS. March 24. Three, per; cent
rentes, 99 francs 75 centimes for the ac
count. Exchange on London,: 25 francs .
16% centimes for ■ checVa.' -: -
BKRI.IN March ;*.—Exchange on Ix>r.
don, 20 marks 4s » i innings for checks.
$25 to Pacific Coast Via Northern Paclfio
One w»j tickets on sale daily
until May 15th Tourist sleeping can
for which the V rthern Pacific is famous.
Ask about then G< orge D. Rogers, city
Ticket Ag'-iit. trth and Robert streets.

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