St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1891-01-23
JUGGLING IN WHEAT.
Is There a Combination For
Manipulating the Local
Wheat Market?
There is a Strong Suspicion
That Incorrect Returns
are Being Made.
Minneapolis Own and Only
Council Goes on Record
Anent Patrol Limits.
Judge Thomas CAVITY Danger
ously Ill--Kicks About
Land Entries.

Minneapolis grain commission men are Dy
the ears. They, at least some OF them, are
ready to cut one another's Threats. III is, OF
course the old story OF the bulls versus the
bears. but the conflict has taken personal
turn. and charges of crookedness and unfalr
practices are being banded back and forth.
However there is honor even among grain
spectators, and it is extremely difficult to
gather accurate information concerning the
trouble.
The first intimati0n of anything wrong
came from q grain dealer whose headquart-
ers are not in Minneapolis Talking about
the trade in general with GLOBE reporter,
he diverged suddenly and went on TINS:
do YOU known that there is big com,
bination right here in Minneapolis formed
for the purpose of manipulating the market,
manipulating it in an unfair way, too! wen.
there is. The men who are IN IL are tne olg
elevator men and the wealthy speculaIors.
How are they doing it? BY making false re-
turns concerning the stocks OF grain now III
store and i'll the country. These men are IN
control of the big elevator systems
through Minnesota and the Dakotas 1ney
make false returns from their own elevators
and do their best to spread the impression
that there is more wheat now in the hands OF
the farmers than actually exists mere. inns,
in connection with TIE information Wn1cn
they give out concerning lhelr own sIocks
creates the belief that there is good dea!
more wheat on hand now, IN elevators ana
in the country. than there is. Such reports
naturally have their effect upon prices, 10
the advantage of the men in the COMBINE.
Then by an arrangement with country
agents, they have large quantities OF grain
shipped 10 Minneapolis, which is again
taken care of to the advantage OF the com
bine''
That was rather a serious charge to make
against Minneapolis business men and de
manded investigation. Inquiry developed
the fact that there was last Monday. wnen
the account was taken. 4,6OO00o bushels IN
round numbers, of wheat i'll the private eie-
vators in Minneapolis. In the country ele-
vators, the elevators scattered through MIL n
nesota and Dakota, there is stored S.5i0,UOo
bushels The public elevators in Minneap'
oils now contain 5.9l2,2So busheis
s of %hsa M T6eGs was: s5a fns basheIs
Col G. d. Rogers publisher OF the Market
Record estimates that about l2,0OOO OO push
els remain in the hands of the farmers. lie
admits, however. that some estimates place
the total in the hands of the farmers between
100000 and 100000. The total number OF
bushels in store, that is, III Minneapolis pub
lie and private elevators, in Duluth ana IN
the country elevators is placed at =. 62I; VI
| One year ago the totrl in store was 4,90O, 3lo
bushels nearly 100000 bushels more than
| now. according 10 the estimates OF the grain
| men themselves. One year ago there were
about 10000, 000 bushels i'll the hands OF the
| farmers, which was about as small as al any
| time in recent years, with the exception OF
| two years ago, when the crop was unusually
| small.
| Be il understood that many of these figures
| those having TO do with the stocks III private
| elevators both in city and country, are simply
| estimates. The word of the owners Of those
| elevators has to be taken as evidence OF the
| amount of wheat contained therein. III VIII
| be readily seen that these elevator men nave
! unlimited opportunity to manipulate tneir
| figures This is precisely what is being
| CHARGED against them Grain men are chary
| about talking to outsiders about this matter,
though they will admit that there is some
! sort of combine" on. Col. q. ID. Rogers,
| who probably understands the Minneapolis
| grain market as well as any man III Inc CITY,
! when asked about the possibilities OF COM
bination being formed replied: =,
'Of course, it could be done, but 1t would
| almost require what have never seen-thal
The grain dealers be all on one side. Tnese
| figures regarding the amount OF wheat i'll
| elevators are compiled by me every MONDAY
| The elevator men give me the numper OF
| bushels which they have on hand, ana IRON
! them | make up the totals. II the owners
choose. they can give me incorrect hgures
but think | would very soon detect sucn
game, where l check over the totals from Ola!
to day and week to week.
The fact remains that there is war on be
tween spectators, on the grounds outlined
above The smaller dealers are, OF course
the ones who are doing the Kicking. INT
quarrel has been going on tor nearly I'VE
weeks, but only within couple of days ha
it become so bitter as to lead to charges
bad faith.