The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-04-15

Minneapolis May Shot Up From
70 3-4c and Touched II 5-Sc
Before It Stopped.
STRENGTH IN ALL MARKETS
Much Uncertainty Over the Proposed
English Tax-News of an
Active Day.

Minneapolis Chamber of Commerce, April
15-Wheat fell off little more to-day in the
early part OF the session. struck T0ec on
break from the opening at Use. At neon it
turned firmer and May was back up to n1ac.
Receipts were very light showing only Sc
cars In both Minneapolis and Duluth. From
the southwest the news was generally favor
able. but more attention was given to the
northwest supply situation. which favors
strength. Bradstreets figured out a decrease
OF 1854, 900 bu in the wosld's visible supply.
The quantity east Of the Rocky mountains
decreased by 3,464,000 bu, while the quantity
In Europe and afloat increased 100000 bu Inc
trade was undecided to just how to take
the new English proposition of "a tax on
grain imports. In Liverpool spot wheat was
l@2kd higher, but May wheat was only 1sd
up and July was I'D lower. IT was hare TO
draw conclusions from the action Of the LiV-
erpool market and in the absence OF exact de-
tails as to the tax number OF opinions were
going around regarding the probable effect
Liverpool quotations, it is understood, VIII
hereafter be duty paid or duty unpaid
the former clause to apply to sales Tor DEW
cry after Sept. |. II the tax were to become
operative Sept. / this would be Dull arsu-
ment the trade thinks, but If it is to go into
effect Immediately after the passage OF the
bill. which Is probably the case, there will be
much nervousness pending its passage, with
the possibility OF some modification from the
original form .'.. .r t.'
Primary receipts we're ISL 900 bu. compared
with 24s 900 last year, and shipments 1861 ,OQO
against Isl, 900 bu. Clearances OF wheat and
-four equaled 242, 900 bu. Minneapolis had u
cars, against IT, last year, and Duluth To-
against l2S.
Broomaall cables: The opening this NOR
ming was quiet, with the trade hestatins
During the morning May. advanced Ad net on
covering by shorts on old contracts. July al
1.30 D. IN. was unchanged.
Broomhall cahled later that the tax IN
cludes offals and products Of all grains. Lin
seed Is not mentioned. Corn opened un'
changed, with covering OF old contracts the
only feature In London there was no open.
ing cable The committee has since decided
that clearing house contracts are to be made
I'D to and including August delivery, as In the
old terms, with buyers paying the dut2 OIL
septenber and later months. In the ne"
terms the duty is paid.
Near the close there was sharp squirt ant
the pit became excited on rush to cover b!
frightened shorts May jumped to 729sc. Chi
easo was very wild and May sold to '4c' chi
cago July going to 75c. At the close here
Minneapolis May was 721.c, July 1873. sep
tember TIC. Chicago May closed 1S7sgyIac.
ST. Louis reported they have sold all thei
corn for future shipment.
Kansas City reported 100000 bu corn poush
there to-day on country acceptances or DID
sent out last night.
The cash market showed the same nrn
tone. Nc. 1 northern sold at l1ac over Ma
and No. 2 northern at May price to 1ac over