The pioneer express. [volume] (Pembina, Dakota [N.D.]) 1883-1928, 1890-05-23

west, even in some cases where there
had not been the late rain and snow,
which our private source of information
to-day rep0rt to have been general yes.
terday from Moorhead aud Warren, aud
extended east to Twin Valley aud Red
Lake Falls, speaking Of their crops a.
promising good result, and so TO dis
prove the utter unreliability Of what now
turns out to be unwarranted pessimist;c
reports OF the interested bull faction.
The misfortune, however, is, the latter
find the crowd only too anxious to follow
their Wild flights Of fancy, completely
disorganizing the legitimate trade Of tile
country, obliging European buyers who
readily preceiye the absurdity Of their
pretensions, to easily supply their wants
elsewhere and leaving the surplus un-
marketed, to act rs a further weight on
depression, whenever it may suit the
manipulators to turn the handle in this
direction.
Taking into consideration the figures
quoted in the circular Of May 3rd, show.
ing. it all best authorities of last fall can
be relied upon, that there must still he
in this country u very large available sur.
plus for export. We therefore fail to see
how present level Of prices can lie main.
tanned, unless something untow ward hap
pens to materially alter present crop
prospects. The disproprotion of values
is further established by comparison OF
present prices here and at New York,
with those existing a month ago.
April 18th. New York, May 96l; May
10th. New York, June 9Sl.
April 18th, Duluth, May SIS; May 10th.
Duluth. June 95..
Thus whilst month ago there was q
difference of ST cents between two mar.
kets. cents is all that divides them to-
day; and this disparity is further increas.
ed to-day when July New York opens 9s},
whilst here there are buyers at9S3. The
natural result being shipments haye fall
ell oil considerably, and only one fre.t.
engagement Of tonnage is EeiDrted fol-
the week.
The l&sa week has witnessed some wide
fluctuations in the local market here.
peared OH Saturday, it being far above
exert bearisll influence on Monday
market. This was further backed up by
rain here OH Sunday, and reports OF fav.
orable weather from some sections, while
Saturdays kilograms from Chicago re.
Y
from top prices. Traders consequently
came down on Monday prepared for "A big
break, aud were anxious sellers at 95A fol
July, showing one cent drop from Satur.
day close; a further decline of cent fol.
lowed, prices touching cat: here was q
pause. and the market quickly recovered,
closing strong with a5s bid for July wheat
Tuesday opened easy, it being ap.
parently convenient to the manipulators
to let tile market be governed temper.
arily by legitimate influence, aud July
wheat war offered at 95} without finding
buyers, and little trading resulted over
s.; the market closed dull at 94} July.
Wednesdays opening under influece
Of much improved crop reports from the
Northwest was depressed, July showing
a fall Of q cents to 9S, at which figure
there WAS little trading; the market re.
acted to 81, which was the chieftrading
point Of the day, and the close was
steady at 93a bid.
Thursday was a quiet day. continued
good reports from principal wheat points
in the Northwest counterbalancing the
advance in Chicago; July wheat here
opened at 94l, declined with little bust.
ness to 81, then advanced to 95, and closed
weak at 94s with few buyers.
Fridays market opened quiet; no trad
ing first half hour. when July sold at
advance from close; it then become ex.
cited aud advanced rapidly to 81 with
large business; closed easy with sellers
at 96f.
Saturdays market opened under in.
huence of big advance wired from Chica.
so; excited with free buying of July
option at 9Sl; easel OF quickly with fair
trading at 81 market eased OF; closed
quiet, at 96 bid for July.
Receipts, O,072 bus. !; shipments. 1885,
eS.bus;net decrease for the week. sos, $50
bus
Present stock in elevators at Duluth
and West Superior, $685., ISL bushels.
Saturday, May l0-No. hard, May 81;
June, 951; July, 96!.
Saturday, May l7-No. hard. May 9S,;
June, a5l; July, SO.
Saturday. May l0-No. Northern, May
81; No. 3 Northern. May, IS.
Saturday. May l7-No. Northern, May
9l3; No. 2 Northern, May, So.
Faithfully yours.
GAuT1ER de Ste CRolx, WALKER & Co.
P. S.-Wc beg to take this opportunity
Of thanking our friends for their much
appreciated reports of wheat crop, and
will feel particularly Obliged by their
further advices on this to our English
friends most interesting subject.