The Hope pioneer. [volume] (Hope, N.D.) 1882-1964, 1884-05-23
CEASED BUYING.
Orders from the Nillers' Ass0ciatio,
to BUY No More Wheat.

Orders from the NAillers' Association
to Buy No More Wheat.
We take the following from the st. Paul
Pioneer Press of the 18th:
The Mllers' association sent out orders to
stop buying, on Wednesday, and agents were
instructed to take no more wheat until matters
settled down. The reason given for this was
that there was likely to be difficulty in obtain
ing currency for purchase owing to the unset
tied condition of affairs at New York. On
many OF the roads the elevator companies con-
tnued buying on their own account and did
not close their doors. Pillsbury & Rurlbut and
the Northwestern Grain Dealers association
took all the wheat offered and paid market
prices. On Thursday the millers' association
claimed to have sent out orders to buy current
receipts, but this was denied by some of the
elevator proprietors, who claim that the asso.
citation was not taking in any wheat Mr..
Hubbard, manager of the association, when
asked about it yesterday, replied briefly, eve
are buying wheat in the country" He did not
say whether buying had been resumed on all
the lines or not. Considerable fault was found
with the association for refusing to buy wheat
on falling market. The manager of an ele-
vator, who has been buying for the association,
| says it was questionable thing for the asso-
ciation to ''lie down" and refuse to take the
farmers wheat when the market showed signs
of a big break. He said that the complaint
| about not being able to get currency with
which to buy wheat did not apply to his COM
pany, for he had 10 difficulty in getting all the
money he wanted at I per cent. interest He
was taking all the wheat that came in. IT
was said by prominent miller in the assoca-
ton, yesterday, that ono reason they refused
to buy wheat on Wednesday was the fact that
several parties who had been carrying big
loads of wheat since last fall made grand
rush to dump it on to the association on fail
ing market, and they concluded to let them
bear the burden awhile longer. The assoca-
ton will doubtless resume on Monday, and
take all that Is offered at market prices.
The crash of Wednesday sent wheat tum
bling downward in all the Eastern markets.
| and the local market declined heavily in SYM
pathy Prices fell off three cents, and OH
Thursday further decline of two cents took
place. Yesterday the market was steady at
the opening, and before tue closing hour had
gained considerable strength. Prices adyanc
ed slightly and there was much better feel
Ing. Receipts continue quite large, and the
proportion of hard wheat is fair. Many of the
mills are short of supplies, and are buying on
tho open board. The flour market is steady.
Notwithstanding tho heavy decline in wheat
our millers are firm in their holdings and not
| inclined to accept orders at a reduction. Tile
country is pretty bare of flour, and dealers are
only buying to supply present needs, as they
have been for long time. Many milers in
the winter wheat districts are idle for want Of
supplies, and the stock Of fancy and baksrs'
flour is growing less every day. These facts
give encouragement to the millers of the North
west, who are alone able to supply the best
brands of flour, and they are in consequence
rather buish in their views.