The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-08-19
SEPTEMBER WHEAT CLOSES STRONG At Sl.l8 So
Jones Throws a Bomb Into the
Liverpool Market and Wakes
It Up.
His Report of the Rust in Mani
toba Draws the English
Grain Trade.
All Markets Boom, Minneapolis
Taking the clad and Hold
ing It.

Minneapolis Chamber OF Commerce,
Aug. l9.-Wheat made wonderful al
vance today. BY eleven o'clock September
had sold to $1164a; December to Sl.ls%
and May to $1.l3A. The pit was IN
turmoil Calls sold last night at $l.l6 to
$116N, were endangered. and privilege
sellers bought against them for specula-
ton Nothing could stem the tide or set
back the market. Jones' report OF yes
terday covering conditions in Manitoba
scared all markets and scared sLlVerpool
badly, with result that that market, so far
from following our decline Of yesterday,
came 1900 higher to close. Other Tor
eign markets came up and it was evident
that Europe had been frightened. Inc
same optimistic reports came from the
Canadian northwest and there were many
who said the prospects across the nne
nre all right and criticized the recent bad
reports sent out. The grain trade, how
ever, preferred to believe that Jones, VINO
is in the wheat, knows rust when ne sees
it. and knows what no IS talking ABOUT
and that his reports are more likely "
reflect actual conditions at the moment
than are the reports Of the railroads or
land agency offices of Winnipeg or Mon
treaI Hence the favorable reports had ohly
the effect to make more shorts ana price
buying to cover when once the uptuIn pe-
gan No doubt remains that the Canadlah
northwest has been damaged very serious
ly and that Liverpool is waking up to the
fact. How great the damage no one can
tell, but while the experts are hgurlng IL
out it seems a little dangerous to sell IL
short,
Broomhall cabled that the Jones sum-
mary showing the bad condition or the
Manitoba wheat came upon Liverpool like
blow. The English trade had not real
lied the seriousness of the situation
MINNEAPOLIS had only 81 cars against
1885, Duluth had SO against 3 and chi
cago 70 against IA. st. Louis had l4l;UOO
bu against $1,000 and Kansas City 2So,ooo
against $1,000. Primary receipts iSl'ooo
blu against All, 900; shipments 5lS,00O bu
against 235, 900. Wheat and hour clear
ances 367, 900 bu.' $500 =. -
Argentine shipments for the week were
1908 600 bu, against 1,744,00O last week
and 976, 900 a year ago.
Following is the. weather report Ex-
IRENE north and northwest generally
cloudy, 46 to Sc above, general rains
Northwest cloudy, 56 to 81 above, genera
rains Dakotas; local Minnesota; heavy
rains Huron. West and southwest Sener-
ally cloudy 81 to IA above, general heavy
rains Raining Des Moines, Dubuque
Springfield, ILL.,, st. Louis, Mo-, Cairo
Ohio valley cloudy, 62 to 70 above; genera
rains. The forecast reads: Illinois, In
diana, Michigan, Missouri, Wisconsin
Minnesota, Iowa-Rain tonight and Sat
urday.
North Dakota, Nebraska-ShoWers to-
night; cloudy Saturday.
South Dakota, Kansas-ShoWers ton1gh
fair Saturday.
Montana-Fair tonight and Saturday.
The Modern Miller says: In local coun
ties where, there has been sufficient mols
ture and rains have been quite general
farmers are preparing soil for winter
wheat seeding. Indications are that full
average acreage will be sown. Farmer!
in eastern winter wheat sections and es
pecially in states where the yield wa:
shortest are holding their best wheat. 4
decrease in receipts at the markets il
probable.
September closed at high point, s1.1S9s
December at $1.14A@3s; and May a
S115M