The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-05-02
The Business Situation.

The Business Situation.
To commercial Minneapolis the event of
greatest Importance this week was the
conference Of railroad men held in Chi
cago to act upon the matter of eastbound
rates on wheat and flour. That the mill
ers are disappointed with the two-cent
reduction granted by the roads east Of
Chicago is not surprising. This is not
enough to give them full relief, and they
had hoped that the influence Of the rep
resentatives of the Minneapolis Chicago
lines who had stood by them, would be
strong enough to force a greater reduc-
ton. Nevertheless, by wringing this
concession from the eastern carriers, the
millers have gained victory for them
selves and have benefited the city.
1t is clear that this is only the begin
ming Of the fight upon question of
great Importance as affecting the welfare
of Minneapolis. The permanent adjust
ment of freight rates on wheat and flour
on a more equitable basis must come
eventually. Millers profoundly believe
that it will come, not only because the
milling industry and the railroads alike
would suffer if it did not, but because the
existence of widely discriminating rates
In favor of wheat is wrong in basic prin
cipe. Aside from the numerous consid-
erations Of direct nature that this ques-
ton gives rise to, there is the great un-
derlyng question Of general public
policy. The miller has on his side the
sound argument that it is unwise for a
government to permit such condition
of affairs as will encourage the export of
raw material to be manufactured abroad
while domestic manufactures lie idle.
That it is wrong for the government to
light, dredge and maintain a great water
highway thru which the foreign miller
may penetrate to the interior Of our
country and carry away our wheat to
make into flour abroad, if that govern
.ment at the same time permits such gen
eral discriminating rates on the two COM
modities-Wheat and flour, as enables the
foreign miller to make the wheat into
flour abroad cheaper than the American
miller can make flour here and compete
confident of ultimate success But a
question like this cannot be settled in a
day.
BY the closing down Of all the mills
for a short period, the millers startled the
public, surprised the railroads, made clear
the handicap under which they have Ions
labored, showed the world their true posi-
a. 4. &c:
the matter who would not think about Il
before.
What the effect was to be was uncer
tain to Thursday. Then the eastern road
gave in. The great local industry i
safely past a, crisis and with condition
back to a condition Of activity taxing tn
full capacity.
May / is past without any strikes q
new labor troubles of Importance. Thi
augurs Well for a summer Of unbroke
activity. Except where temporary cor
ditions have interfered, the leading in
dustries are active Navigation is now i
full swing on the great lakes and tn
movement of merchandise is very heav,
lumber leading all other lines in the rels
tive increase.
A wave Of cold unreasonable weatht
.haS swept the entire western country RI
tarding trade, delaying farm work ar
TO considerable extent interfering wit
building operations. In the east favo
s. able weather has continued and while I'll
country trade from Chicago west HI
been light this week. country orders
the east were above the average. ASH
from this unfavorable feature Of b:
weather, conditions in the west are favo
able and very promising. Western "a
ways are making good showings in r
ports Of earnings notwithstanding so1
minor factors of an unfavorable nature
Wall street is having a resting sp
which is perhaps a good thing. Tradi
on the stock exchange was light tt
week and a quiet conservative tone han
over the street. Meanwhile the mari
commentators while discouraging a
hope of immediate advances in stock "
ues are calling attention to the fact I'll
the long continued decline that CART
prices down 10 to 80 points has put so