The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-08-17

Under the influence Of the predic-
ton by 3. w. Snow, the Chicago ex-
pert of "the greatest crop calamity
in northwest history surprising adj
vances in London and Paris, and
sprinkle of rain in the wheat belt, Sep
TENDER wheat shot up to $1.14 in the
Minneapolis pit today, amid excite
ment surprising anything yet wit
messed.
traders to the breaking point. They
ity of frost123456 cmfWyp cnfwyppj
are now confronted by the weather
bureau with the possibility of frost.
UP to at least s1.25. Some brokers'
say frost tonight would mean an al
most immediate advance Of 80 cents.
No: 1 northern sold for cash at
in the Minneapolis
market today.
Mr. Shows report sent in this
morning from Fargo, is the most sem
sational yet issued. When thresh-
ing begins, he says, a wall will go up
that is louder than anything that has
yet been heard. He has ben over
many fields in the northwest particu-
larly in the Red River valley, and
after a close inspection declares that
while the fields look fine there is lit
tie in the heads. Some are so poor
that farmers are blowing them under.
This afternoon Mr.. Snow wired
from Hillsboro, N. D., that many fields
largest farmers In that section, will
put in moving machines, and burn
the straw in order to clean the fields
for immediate blowing. Around
Castleton some Of the earliest fields,
he says, show fair crop. Most OF
the crop, however, is late, some even
being in bloom, and this is going
Id W ia CT Tn, I'M y Hya
there is in prospect the greatest crop
calamity of years in the northwest.
AS to the speculative grain market
the best men in the trade have given
UP trying to call top on it and Moth
ing that might happen would surprise
them. Unless a change comes soon
and sensational reports from the grain
fields cease, a runaway market may
develop that would surpass anything
| ever known in the history of the grain
trade.
Foreign Markets Affected.
The foreign markets caught fire
| over night and Liverpool and Paris
/ opened strong. The Liverpool quota
| ton at opening was 21sd to 2Ad higher.
| than last nights closing, and Paris
was up 2.25 francs. This Liverpool
advance was equal to about &c in our
money, and aPris equal to about SIC.
! When the traders saw this there was q
| terric rush to buy, and there was lit.
| tie offered. The trend Of the foreign
markets indicates that England is
seriously alarmed over her source OF
supply in the Canadian northwest.
The American winter wheat yield is
short and the spring wheat crop is in
deplorable condition. If it should
1 prove that the Canadian crop is sert-
ously impaired, LiverpooPs advance
would be quick and strong.
The northwest is watching the gy-
rations Of wheat in Minneapolis with
avidity. Minneapolis men throng the
chamber and those who have slight
knowledge Of the operations of the
/ traders stare at them from the gal"
i lery seats aghast. The gallery waa
filled this morning, many women hav-
which attends the greatest wheat mar
ket Minneapolis has ever known.
i There are also many from out of the
city, strangers from all parts OF tbs
northwest being present today. This
brokers' offices were crowded with
customers and friends of the traders,
who embaced every opportunity at
i forded to watch the occurrences OF
/ this period which are making history
i in the grain trade.
Grain and flour men were on the
4 floor at the chamber today from Ball
tllliOIt, opohdHS, Z !.e'' "a ., : - =, .Nt
phia, New York, Memphis, Chicago.
4 Milwaukee, st. Louis and Winnipeg.
i and every point Of Importance in the
/ northwest was represented in the
smokingroom around the brokers' OF.
flee.
Premier Robin on Change.
r. p. Robin, premier of the PROV
, lince of Manitoba, was on change this
morning. Mr.. Robin said he had
. heard the many reports current as to
: the Canadian crop, but knew nothing
4 as to their authenticity, and had no