The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-02-21
The Week in Trade.

4uc week III 1cdQc.
This week has been in a measure dis
appointing to all western shippers, more
particularly to the grain trade and milling
industry of Minnea polls. The freight
situation has not shown the i'm
provement that had been looked for Be-
cause there has been less heard this week
of blockades and delayed shipments, it
| does not follow that there is no longer
cause for complaint. 1t is only that ship
pers have learned how futile it is to rail
at the roads over the condition beyond
the power of the management to control
and where formerly there was loud and
bitter complaint, the annoyances and
losses resulting from the insufficient
service are now being borne in silence.
The disappointment that is felt comes
from the fact that a week ago there was
the promise Of better things to come. The
railroads, by adopting very drastic
measures, by enforcing the strictest rules
| as to car service, and by confronting
| shippers with a sort of martial law policy,
| had succeeded in SO conserving their
| forces and so concentrating their efforts,
|
points and prevent congestion at other
points The outlook was for a general
Strengthening out and a freer movement of
| merchandise to follow, at least for COM
modities east bound from Minneapolis.
But the severe weather affected ALL the
western roads adversely, storms delayed
| traffic, and the extremely low tempera-
lures lessened the notice power ma terially.
! The roads were unable to continue their
progress towards relief and to-day condi-
| lions are about as far as ever from
| normal.
/ Barring this matter of bad freight con-
ditions, which hits every western point,
the outlook in Minneapolis is extremely
| favorable The spring trade is opening up
! we'll, and jobbers and manufacturers re-
| port the business so far secured of a.
volume larger than at this time last year.
A hundred or more country merchants
have been registered at the headquarters
of the Merchants association every day,
and they were all here to buy. A uniform
| degree of activity pervades the mercan-
! tile field, and while the grain trade has
! not been heavy, but rather under that of
| last year. the bank clearings for the week
were 1874 per cent larger, this due prin-
cipally to the increased trade in the Job
bling and retail lines. Prices are being
! maintained on the staples, and neither in
the leading manufactured products or in
country produce has there been the
easier prices that had been predicted some
weeks ago. Minneapolis merchants re-
port collections good, even better than
last year. Bad debts are rare. Country
merchants are buying freely yet are not
r overstraining their credits.
1 1t is a little early yet for anything very
definite as to immigration this season. but
preliminary indications point to heavy
influx of new blood. Railroad. managers
say that as soon as spring opens the new
corners will begin to flock in by thou
sands. The purchasing and consuming
j power of the northwest will be immensely
increased and this will operate to the
direct and immediate benefit of Mime
apolis.
The flour mills have been entering
orders this week from Australia While
the actual quantity sold to go to the an
tipodes is relatively small. it is Interesting
to note that the local mills are able to
compete against the -four mills on the
Pacific coast. with all the conditions of
the long haul against Minneapolis It
indicates that the Pacific coast is prac-
tically bare of wheat, and that the west
ern flour consuming territory will be a
rich field for the Minneapolis mills until
+1,1
the Mississippi has threa tened to lessen
: the production, but despiteSthis and many
other disadvantages of a temporary
nature the mills have continued grinding
at rate exceeding that of last year at
this time.
This good milling outlook has been an
important Influence for f1rmness in wheat
1t is remarkable that the market has held
SO well against continued depressing re-
ports. Since Argentine began shipping
new wheat, she has thrown about 5,OOO-
: 600 bushels into Liverpool. The trade re-
Allies in full the bearish import of these
figures, but 50 far has refused to be dis
turbed by them There is. big winter
wheat acreage in our own country and the
growing plant is doing WELL The recent
2 cold weather did no damage so far as can
: be learned. as it was preceded by heavy
$ snowfall that gave protection. There are
many other bearish features. yet the
: bears have made little Roadway. There
: are so many who think wheat legitimately
:. worth the present prices that buying sup
. port has. been Forthcoming on every de-
cline. The bearish features will no doubt
r have effect if they remain, but mean