The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-05-13
! A Look Ahead.

Three things have occurred within
a short time of more than passing in
| terest to Minneapolis and Of special
Der of Commerce.
Winnipeg, New Orleans and Omaha
| have succeeded in establishing mar
kets for trading in grain futures and
| already some small measure Of success
| has attended them. Omaha is actu-
ated purely by desire to build up a
grain market If possible for the gen
eral benefits that would accrue to her
| therefrom. The New Orleans move is
the natural result Of the great change
working for several years past in the
export grain trade-the shifting Of the
winter wheat movement and falling
off in outward business thru the At
lantic seaboard and the rise in import
ance of gulf ports. Winnipeg has long
| looked askance at a volume Of future
business originating there and going
elsewhere and wishes to secure it for
herself. -.
There are unquestionably some
|
as a market for wheat futures, al
most invulnerable. She is the world 8
greatest primary wheat market great
est milling center and point of great
est storage capacity. She has position
and power that it would be almost i'm
possible seriously to affect. Upon the
knowledge Of this Is based its feeling
of security and Of quiet Indifference to
growth on the outside, a feeling that
works against the future interests OF
the chamber and Of the city. Secure
in the knowledge that actual volume
of Chamber of Commerce business can.
not in the nature Of things suffer seri.
Gus decline, it disregards the consider.
alton that the relative position Of the
city may in time be altered and the
position of predominance be lost.
To suppose that these smaller mar
kets will become strong enough to in
jure Minneapolis is to go beyond wha
: is warranted. They must be relative
ly unimportant. Yet Winnipeg make
a brave showing in receipts, even tn,
much Of the wheat goes thru on pas
4 sage only, and everything indicate
: that the outward movement Of winte
: wheat will increase and southern mar
s kets grow materially. 1t is no
n enough then that Minneapolis hold
g her own from year to year, she mus
continue advancing, and it canno
: truthfully be said that she has main
= tanned her former ratio of grain trad
growth in the past two years.
= We are building no more great ter
!. ninal houses here, as is natura
- for the houses now standing have nc
- been full for several years. No NOR
! big mills are going up, for of lat
there has been scarcely enough whea
% to feed the ones already here. It
true there have been unsatisfactory
i wheat returns in territory tributar,
and likewise true that bumper Gro
If this year would fill the elevators an
d feed the mills and make a heavie
It volume ofChamber Of Commerce busl
e ness in both the cash grain and fu
L. ture divisions. . But we are less cor
y cerned with this year or next tina
hence.
rs Here Is a great industry capable {
Le developing to twice its present siz
n into which an inversely working fat
ID tor has entered. The supply Of ra
n material is slowly receding. Commel
le cial history shows that this in itself
I not necessarily vital thing. The ca
~ tie lands may extend farther and fa
= Their away and the Chicago beef pacl
ing industry grow apace meanwhil
: and this is true Of many industri
= that have held position under sinils
=. conditions. But in the case Of Mimi
-, apolis the tendency toward greater d
versification, will, in all likelihoo
~ move the center Of spring wheat pr
=. duction farther away from year
te year until 1t finds Judgment back
r. the artificial barrier that cuts us {
he from the Canadian northwest.
It. One would naturally suppose tn