The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-12-03
Cut OFF by the Storm From Tele-
graphic Communication Traders
Were Very Cautious.
Nothing From Chicago Beyond an
Occasional Quotation via
\ Montreal.
The Northwestern Receipts 142 Cars
Over Last Year-Local Stocks
Increased 1900, 900 Blu.

F., - - !. 10y, :
Owing to the storm which cut off
all telegraphic communication be-
tween Minneapolis and the east, to-
days market reports will be found
incomplete in many details. Some
of the more important quotations
were obtained by long distance tel
ephone to Chicago. .
Minneapolis Chamber Of Commerce, Dec S.
The local wheat market rather tame af."
fair this morning, and presented the view of
pit full of traders doing little and waiting for
something to happen. Cut off from comnlunica-
ton with the leading outside markets by the
storm OF last night, the local grain men found
themselves at sea to general sentiment, and
there was disposition t. hold In and not venture
much on the northwestern news alone, for fear
that If there was wide variation here, the re-
sumption of wire communication with the outside
might show the eastern markets out of line and
bring too sharp reaction With the posting Of
the figures showing receipts Of 594 cars of wheat
here against 291 last year, there was DISPOSE
ton to sell, and May wheat having opened at
747sc, fell back to 74Gl74hc.. But Duluth had
a decrease, getting pol cars against 452 last
year, so that the showing for the northwest was
$50 cars against 743, total still 142 cars in
excess OF last year, yet not SO bearish as the
Minneapolis figures alone. wire coming from
Chicago via Montreal showed that market not
materially changed and little trading, started
but in a half-hearted way Just before, noon
the first regular Chicago prices began to come
and the posting showed Chicago May only Lice
above last nights close at 76c, indicating that
in that market the feeling was about the same
as here and that the Chicago pit traders were
equally hesitant about venturing far without the
other markets to guide upon. Postings for Chi
cago corn and New York wheat followed, but the
pit still hung back, awaiting fuller informa-
ton of what the outside world had to offer in
the way of news. .-. 49, z
Local stocks continue piling up. Yesterday the
increase had reached 9OO,O 900 br, and the esti-
mate Is for an increase of 100000 bu by to-
night. AS there 1864, 995 blu, in store here
last Saturday, the total next Saturday will prob.
rate of accumulation by elevator companies con-
tInues :" "'s.7i - -
Not scrap Of news oEtainable from out
side beyond the bare figure of an occasional
quotation. All the regular statistics, as prf--
mary receipts, clearances, ETC., were missing
and there was no means of knowing whether cash
business In other markets was good or whether
or not we were selling any wheat abroad. L.. |
The market turned easier the close and
May sold down to 1890, closing quiet at the
low point. - II
Good demand ruled in the cash market and all
again the principal buyers and were willing to
pay 1Ac over December for No. 1 northern and
&c over for any cars especially choice. There
was a pretty fair sprinkling of No.. 1 hard,
through the offerings. this selling at 74Hc to
74Ac. In the choice wheat the demand EXTEND
ed beyond the spot offerings and buyers were
willing to take No. 1 to arrive or No. at the
same prices as for spot There We're a good
many moderate lots taken to arrive. No. 8
wheat sold from 7O1@c to Il 1ac and rejected from
thing very desirable to low as 57c for the very
pOr stuff. Z. "s--,. '.I -