The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1888-09-08
THE w HEN
CHANGE In WHEAT GRADING.
Import Changes by the Minnesota Warehouse
Commissioners, and Their Probable Effect.

CHICAGO, Sept Word was received in
Chicago last evening that the Minnesota State
warehouse commissioners had taken the impor-
tant and unexpected step Of reducing the grades
of wheat in that State For some days there
had been a rumor that No. Northern might be
substituted for No. hard on speculative con-
tracts. but one anticipated the sweeping
changes that have been made. Practically, the
old grade of No. hard has been wiped out al
together The old names are retained, but that
is about all that is left. Hereafter Nos. L hard
and Northern will consist of 80 per cent. of the
old grades and 10 per cent OF damaged or
frosted wheat; and the mixture OF % and so per
cent. OF frosted stuff is permitted in the lower
grades. Several Board of Trade mem bers who
were seen expressed great surprise at the action
slty OF opinion as to its ef-
feet. One ot the most prominent
brokers interviewed said the effect. of course,
would be lowering Of values as well o. of
grades. To lower the grades in Chicago would
affect every market in the country, and foreign
ers will lose confidence in our grades in conse-
quence of the Minnesota commissioners action.
The immediate effect will be bad, and be feared
that the ultimate effect will be worse. He con-
fessed being big 'bull" on wheat, but thought
this move would give them q setback. The Of
feet on foreign markets would be worse than at
home Two other heavy brokers did not agree
with these views. They thought the action Of
the5 Minnesota ;com mmssioners could have little
effect other than a tendency to hold the Chicago
market little frmer and have a bad effect on
Minnesota wheat A special dispatch from
Minneapolis says: go. the North western mar
kets, Duluth is perhaps the only one that will
be affected by the ruling, and the effect
there will be to weaken the stiff squeeze that
has been in existence for the last two months
Prices have been kept at an abnormally high
figure, and for no other apparent reason than to
n a. ha
short side. Wheat cannot os bought at Du-
luth and sold at profit at any market in the
world, nor is there any use for the grain at Du-
luth. II the admission OF frosted wheat into
the hard grade will turn enough wheat in that
direction to break the corner at Duluth. the ef-
feet cannot be called harmful. except to few
SPECTATORS, while from the Minneapolis market
there will be removed an incubus that has rem
dered local milling operations extremely unset
tied"
grain AID warehouse commissioners to-day
promulgated q rule admitting wheat damaged 5
20 10 per cent. by frost to grade No. / hard.
This decision has caused q sensation among,
dealers, who are vigorously protesting that it
will hurt the sale Of Minnesota wheat
State Inspector Albert g. Clausen was asked
to-day concerning report that the State grain
inspectors would enforce q new rule of inspec-
ton which admits No. hard wheat from 5 to
10 per cent. of frosted wheat. He said: II have
inspection, and you may be assured that, far
as am concerned. and as far as | have voice
In the matter, there will be no change IL would
be the most foolish thing imaginable to have it
go out that our grades were broken here, or
that we were putting frosted wheat in our No. l
hard. 1t should be remembered that there is
often little frosted wheat 10 with good, and it
has never been the practice to reject car of
good hard wheat because there were a few kerr
nels Of frosted nov and then scattered
through il.