The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-09-20
SUBSCRIPTION TERMS
The Week in Trade.

The railroads of the west have Deen
overburdened this week in greater degree
than at any time since the fall crop move
ment began. Many complaints were heard
Of shipments delayed in transit and IN
the northwest it has been not so much
g. question of the ability Of the roads to
provide sufficient cars as OF ability to
move them promptly when loaded De-
spite the enormous expenditures for new
rolling stock, and an increase in motive
power and general equipment, the roads
lack the facilities for handling the i'm
mense tonange now offered with the
promptness desired by shippers.
AS ours is the favored country, so the
west and the northwest are the sections
especially favored. Everything in sight
here bespeaks the continuance OF pres
ent conditions, the fall distribution IN
the jobbing lines having had an early be-
ginning, and the volume Of the mer-
chandise movement from the distributing
centers into the country SURPRISING any
thing ever known at this time.
Any such period Of extreme activity
must necessarily breed some minor con-
dit1ons of an adverse nature, annoying,
yet not serious in themselves. The vexa-
tious delays and reports Of congestions
of freight are only so many incidents en-
phasizing more forcibly the wonderful
prosperity of the northwest.
The western bankers have not fastened
to avail themselves Of the plans for in
creasing circulation proposed by Secre-
tary Shaw, not through any lack OF ap-
probation of his efforts, but because they
have not felt that the money situation
in the west is yet serious enough to war
rant this. However, the monetary ques-
ton may shift about later; It's present
effect is confined principally to New York
In the west there is sufficient money for
all legitimate purposes.
Minneapolis will begin the fourth week
Of September with the smallest stock Of
wheat ever recorded at this time another
decrease during the week. Of 235,32O BUSH
els, having brought the total down to
1,OS3, 343 bushels. Daily receipts were
somewhat heavier and better comparative
showings were made, but the movement
must increase much more before there
will be opportunity to accumulate stocks.
There is a better flour demand, and with
an adequate wheat supply the mills will
grind heavily for some time to come.
Sentiment has turned stronger in wheat,
and the fear Of a heavy decline to follow
any increase in the northwest movement
has been dispelled. While the speculat tive
market may dip even lower on the fluc-
fn1tfOnS from there q q
growing feeling that the extreme low
points have been seen, and that the
legitimate supply situation warrants the
maintenance of prices somewhere near
the present levels -. .
The fact that sixty-fve cars Of an
thracite coal were shipped one day and
some 300 more loaded, has encouraged
hope that the fuel situation in the west
may show Improvement before cold
vorable now than at any time for month
vet the strike remains.
In the iron trade the feature has beer
the extension Of foreign invasion, an6
while a sale of Scotch iron in Chicago
was a matter for general comment {
fortnight ago, the foreign iron men are
now doing a good trade with Mississippi
river points. 1t is the old report of buy
ers unable to get delivery from the over
taxed and badly handicapped America,
mills and turning to foreign makers TO-
requirements.
It Is remarkable that Wall street ha
shown so little interest in the poitica
eituatiOn. Autumn politics appear no
to have entered at all into recent lon
time speculative calculations. The lead
ers In the monetary centers usually kee]
well Informed as to the trend of politica
sentiment in the country, and an off yea
congressional campaign involving any
thing Of doubt as to the complexion Of tn
house of representatives, has always beel
All important factor. Political influence
are usually unsettling and consequent
bearish, and in the past the beginning of
period of price recession in stocks ha
often marked the opening of genera
congressional campaign. The fact tina
there is no we'll organized bear party nov
operating in Wall street may in measur
account for the stability, but it is, proba
Bile that the present tone of ante Eclectic
Indifference comes in no small degre
from a feeling that the control Of til
house will not pass to new hands, tina
while there is that possibility, it's realiza
ton appears too remote to warrant dis
counting the probable effect. .
NIL