The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-06
The Week Closes With the Bears
Gaining Courage and Getting
a Little Bolder. 1,
How to Learn the Real Attitude Of
the Armour Interests the I'm
portant Question.
Local Stocks Increase 1,863,951 Blu.
The Danube Freezes, Cutting
Off Shipments.

Minneapolis Chamber of Commerce. Dec. O.
Wheat failed to show any signs OF increased
opened quiet with the tendency apparently easier
but not enough selling to force any decline The
cables brought nothing new, London repeating
gentine. according to recent advces Is favorable
for the wheat harvesting, ard Liverpool report
ing faint trace of tirmer feeling and closing
price I'd higher. Receipts here clearly indi-
Gated the turning of wheat to Minneapolis that
Sssd Of the se%ed failing
there was maters 4 gain here nd n~h g91
against 500, gain of 2o6 cars here and gain of
1928 cars for the northwest While 1t is entirely
reth be Dnh from now on the bears
have tried to make something of this as an an
argument for price recession The prospect OF
the closing down of some of the -four mills over
the holidays unless business picks up was coupled
with this. but all the talk along this line has had
about as expected, gaining in all 1,ses, e51 bu
this brnging the present total up to 10 Ssor
are arguing that inaction usually foreshad-
decline and the present dizziness does not
bulls sre May wheat te ne1a
level, some at 74c and higher, some at 1850 and
lower. Matters are so shaping Demonstrating
bears claim--that the time will soon be ripe
for q bear raid. and Of this long wheat
will 20 overheard and help along a down turn IN
the local pit as is seen by the buying that comes
out every little dip,
In Chicago the situation is not so strong as at
the close last week. The tendency was lower at
the start this morning. but the Chicago crowd
hesaed on the report of the freez1 fo OF the the
Danube ports to Liverpool, which is an Important
matter in regular export grain channels. but is
discounted by the speculative trade. Outside in
terest in Chicago is very light but the longs.are
and that while the market may sag a little the
Armour support will finally carry up prices very
t BUT IS by Us n some SO hea
committed to the long side as has been generally
supposed, while some of the Chicago bears have
even ventured the opinion that Armour Is short
Whatever may be the important features bearing
upon the market in legitimate way, they are
likely to be lost sight Of in the rush to get
aboard when the scalpers make up their minds
as to the real attitude Of the Armour crowd. If
question whether he would try bull campaign ann
ut this time, while if 1T should develop that Ar
mour is selling there would be rush OF selling
Primary receipts were $40, 900 bu against $780,
600 last year, and shipments 692,OO against
day were equal to .56s, 900 bu.,~.
The market closed quiet and not especially
changed from yesterday, December 72Ac, May
1890 and July 741sc.
in Chicago and soon found its way here to the
effect that the Canadian crop had been largely
overestimated. To an inquiry along this line a
Winnipeg house sent prompt denial saying that
in all probability some people have confused the
Manitoba government report and took 1t as re-
port for the entire country: The government re-
port issued to-day makes the Manitoba crop 3d.
600. 900 bu The crop of the territories Is about
$4,000. 900 bu making the total nearly 10000. 900.
There is very large amount of wheat back In
the country, elevators are full and farmers COM
relled to hold until the blockade is relieved The
railways cannot handle 1t all quite promptly
as they had expected.
The cash market was fairly active and there
was demand for the good wheat, but on the
whole the tone not good as yesterday.
Elevators and millers bought and there was in
uuirys for good wheat to arrive, No. to arrive
salabie at 72Xc to 73c and at re to 72A
to arrive. The low grades were quiet ana the
moor wheat dragged a little.