The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-04-07
Minneapolis and Duluth Run the
Western Grain Trade Alone
To-day.
Chicago and Other Winter Wheat
Markets Closed Foreign Mar
kets All Quiet. .r'sa 5ssI 81
The Worlds Visible Decreases-Not
Much of Interest in the
'>'-.. News. -, t~.... :: .

Minneapolis Chamber OF Commerce, April T.
Wheat was very quiet and dull this morning
with the market in norraw range and local trad
ers not INCLINED to do much. Chicago had an
election day holiday and was closed up tight
Minneapolis traders were disposed ito lay aloweSin
the. absence of any Chicago figures. to- guld.
upon. There are times when MINNEAPOLIS asserts
herself md traders Independently and witheut
regard to Chicago but this is 4notaene or the
times. It is the winter wheat -that-4s new
the important factor and the trade knows that a
change in winter wheat conditions would at once
throw every other influence into the background
The markets Of the southwest and the Chicago
! spring wheat traders do not try to take the
lead at such time 1t was the same to-day at
the seaboard. Quiet and steady markets We're
| the rule everywhere: Liverpool closed I'd high
or. Broomhall cabled that the opening quota
lions in wheat We're SD te Ad higher, but dur
ing the morning change occurred. The only
| feature the expectation of a bearish gov
ernment report Friday which offset the recovt
erv in the American markets yesterday after:
| noon. Corn opened unchanged and remained
so during the entire early. session, the market
being featureless and partakingl OF q y holiday
| character. ( # j.; ~ II 81. s,.s$.:;$s -:
The Chicago Record Herald sizes up the Ar;
| mour trading as follows: 1T 1ookedzas 1.-THE
Armour people yesterday took advantage Of the
bearish news to cover wheat put out at higher
prices early last week, perhaps to take on some
/ for long account. The buying was for both
May and July which was as largely OF. one
| month as the other. The purchases aggregated
! it was figured, around 1000, 900 bu. But while
/ the pit thought tile Armour buying was cover
! ing, it was not certain about It,. The shorts
were especially uncertain and particularly ti1nid
| The result, was, when Valentine bought wheat
| all the shorts in the pit made haste to do the
i same thing: 1t is plain enough the market /.
| fearful Of May manipulation. Those who should
have some idea of what is going on put no faftt
in the theory, and believe the big interest Ii
i merely scalpiug In large way. But those wh'
i think they know are in fact as tirnid assthos'
who do not pretend to: know. No one is willing
to stay short. the May, with probably less thai
| 100000 buZ contract wheat here now. Their,
is no difficulty in settling May and the settling
clerks the keenest judges Of what; is going on
can find no reason for believing any large Ma!
whcat line is now in existence. $2 Z? s: e
: Rradstreet's figures for the change in til
worlds visible shows decrease Of 2, 1S7, 600 b
east; Of the Rockies and an Increase Of 100000
bu in Europe and anoat a net decrease OF 1851,
OOG bu.' --"sH' -,'>. - r. - - = -
Minneapolis received 100 cars against 1872, an
Duluth IS against 33. y -. $500
Forty eight loads were reported worked at til
seaboard. e. .asz ~. ~ 80 s@,GrE.,.s
Extreme sdulfness ruled in the cash market an
lat was rather a hard matter to move anything a
the full prices of yesterday. NIfllersfwere onl
nibbling and would not bid for the wheat.