The Minneapolis journal., 1903-12-19
IS The BULL MARKET UNDER WAY At LAST ?
This the Question at the Chamber
20 f May Wheat Sells Up to
82zsc.
More War Rumors, Bullish Talk from
a the Southwest and Light
Receipts.
Ar,
Argentine Weather Bad-A Big Short
Interest Said to Exist
Locally.

Minneapolis Chamber of Commerce. Dec.
l9.A-Renewed strength and greater activity
came into wheat this morning and carried
prices up about cent in a quick squirt fol-
lowing the opening. There was plenty of
bull news, the most important item OF
which was a rumor. originating no one
knew just where, to the effect that a Rus
sian loan is in process of negotiation
which would mean that war possibilities
are much greater With this the receipts
were light. and the summary of conditions
In Kansas printed. in RI J urn a yes
terday had effect. The northwest will
need much winter wheat next spring to
meet milling requirements. unless all
calculations are at fault. Hence II it is
true that large portion Of the Kan
sas crops of last season has been marketed
as the dispatch mentioned would indicate,
the situation is really even stronger than
has been generally supposed Much talk
went around the floor about a local trader,
a prominent figure In the pit at all times,
whose house Is said to be short a great
quantity of wheat for account of persons
unknown. Pit observers who have fol-
lowed the moves of this trader for long
time insist that his. trades. on a balance
show a. heavy prcpOnderance of sales. Pre-
sumably a big house like the one in ques
tion would be able to stand much punish
ment, and would not be scared into COW
ering OH little Use: but with this there
local milling companies has some short
age lin the market. probably in the form
of -four sales not entirely covered by long
holdings of wheat futures. Commons had
a message from Armour stating that a
cablegram from Argentine had just been
received at Armours Chicago office. and
that conditions at present are unsatisfac-
tory. the weather being unsettled and
widely variant over the entire Argentine
wheat area Many big houses are bullish.
Watson had some big trades in May to-
day both ways but with buying orders
predominat1ng. Charles e. Lewis Is the
most outspoken bull on the floor and is
believer in much higher prices soon.
: Minneapolis received 24S cars against
453 Duluth IS AGAINST "a, and Chicago 50
against Al. Kansas City had 16SOOO bu
against $1,000, and st. Louis SO, 900 bu
against 40 0C0 Flin'ary receipts. $4,000
bu against til. 0oo, and shipments 254.O0O
against 900. Wheat and flour clear
alrces. $4,000 bu. Local stocks increased
total ?.t27,720 bu. For the first day to go
into the next week the increase is 1000
bu.-
New York reported q loads sold for ex-
port
II cargo IT sO.oOo bu Manitoba wheat
was reported worked by a Chicago house,
It 81 a bushel C. i. f. Liverpool.
In Chicago two 10000 bu lots Of No.
hard We're delivered ioN Richardson on De-
cemb=r contraCt.slNjth payment of the sc
peGaity provided. .r.-rr 9t-
'Fhc market was very strong near the
CLOSE, May selling to sS21Ac. July to S21a@
S2lac. and December to Sic. all closing firm
aud Il shade eff frt M tol,..
Most of the Dash Wr at was sold early
in the day 2 I'd cid III t shsr in the rise
in the CItl"n. much No 1 going at SEQ
S3H3, and No. :. al ouud S0mS0AC.