The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-01-30
Rumor of an Adverse Decision
by Attorney General Moody
Has Some Effect.
Cash Wheat Market Also Better
and Export Inquiry I'm
proved.
Receipts Here Still Larger Than
A Year Ago and Other
Bearish Items.

Minneapolis Chamber OF Commerce., Jan. 30
Runners Of a ruling by the attorney general
unfavorable to the Canadian wheat mixing propo-
sition turned the market strong. to start the
week In the face Of conditions, and Monday NOR
ningn figures that otherwise would prob
ably have effected decline: The report
e eieI but nsp ron there Was some
basis for it, at least the statement OF probabil1-
ties sounded reasonably. Mr.. Moody has given
out no decision covering the matter. The draw
back proposition, the right of an American miller
bring in Canadian wheat. pay duty on it. grind
it into flour and receive drawback upon expor-
tation of It, was settled by Secretary shaw some
little time ago. The right to mix Canadian and
American wheat before grinding was not settled
Secretary Shaw passed It along to Attorney Gen.
,sral Moody, where the matter rests at this time
The report is that Mr.. Moody has now decided
against it, but it is not authenticated. Should
It prove true that the miller is denied the privi
lege asked, to mix the wheat. it should, in the
opinion Of the bulls, have stimulating effect
upon the market, as much Of the wheat in store
here is low grade stuff, that in itself cannot be
used to advantage, at least more of it is need
ed to make barrel OF nour, than OF wheat ord1-
narily used Against this there is a counter
argument. It should not be forgotten that when
the proposition to mix Canadian and American
wheat first came up the effect upon low grades
was stimulating. 1t was seen that with greater
quantities Of good wheat to use with it the low
grade stun could be used to greater advantage
in milling. On this, very largely, prices rose
materially, and when Mr. Kennedy, the custom
house broker, and the others who claimed to
know about It, stated that the decision would
be favorable-the attorney general himself being
the only one who knew nothing about tt-and
when a Minneapolis paper printed the report Of
a favorable ruling that was oever made the low
grade wheat went still higher. Now, II 1t proves
true that there ts no chance for 4 favorable de-
cision, 1t would seem natural to expect decline
in low grades, for IT, as the bulls. contend, the
millers will have to USE more Of the stuff, and 1t
takes more of 1t to go around. they will have to
get it cheaper, unless they can raise -four prices
and still hold their trade. -
:, Total worlds shipments Of breadstuns during
She past week were 9,OA,0O0 bu, compared with
8 056, 600 bu the previous week and II, 100000
bu a year ago. The quantity of breadstufs
shipped for orders, included in the above, $685.
100 bu. against 2,112,0 900 bu the previous week
eand- 3,OSS, 900 bu a year ago. Total wheat
taken by continental countries during the past
week 2,S46, 600 bu compared with 1894 900
blu the previous week and 2,440,0O bu a year
ago.
A Montreal exporting firm says: 1--WE had
bids from abroad for 10 loads Of Manitoba wheat
today, February and May shipment. We accepted
other side Is frminE up bids Manitoba
wheat
Better cash demand was the general report,
not only Minneapolis, but southwestern markets
finding it drmer.
Primary receipts 100000 bu against 74,ooo;
clearances. 49, 900 bu.
Minneapolis received SO cars from Canada and
IA Of American wheat At against 414 year
ago. Duluth had against II and Chicago
IS against 80. Kansas City got 96,0 900 bu against
81. 900 and st. Louis &c. 900 against 1S1 900. Win
nipeg had II cars against SO. +
Wheat passage 81, 304, 900 bu, increase
for the week Of 1,936, O00
Near the close the market turned very strong
on generally better cash and export reports. May
sold to $1.167A and closed at Sligo.