The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-31
The GREAT
N||NNEAP0L
GRAIN MARKET
Commercial Development Coinci-
dent with Growth of Flour
IL +
Milling.
Chamber of Commerce and Its,
Part in Building Up the Grain
Trade-Records Of 1905.

The development Of the Minneapo.
lis grain market has been a matter Of
only some twenty-five years. When
the Minneapolis Chamber Of Com
MERGE was organized in 1881 the mar
ket was unknown. Receipts Of wheat
whole available supply was absorbed
by the -four mills whose buyers vir-
tually made the price. AS far as Chi
cago, New York and Liverpool were
concerned there might well have
been no such place as Minneapolis. =
But it was inevitable that a great
market would be established here.
The mills had set the rising tide
of wheat flowing towards Minneapolis
and the city was the natural outlet Of
region which was destined to be one
Of the richest producers of cereals in
the world. Thousands of farmers
were settling in the rich prairies each
year and each season saw a wonderful
advance in the crop totals. At this
period the invention Of the self-binder
greatly cheapened wheat harvesting,
and the roller process Of -four making
improved the quality Of the product
and found it market thruout the
world: The grain INDEPENDENTLY
handling wheat-grew more rapidly
than even it's most enthusiastic proph-
cts had predicted. Within four years
after the organization Of the Chamber
of Commerce Minneapolis became the
greatest primary: wheat market in the
world and has remained in undisputed
possession of first place for twenty
years.
From receipts Of wheat Of 100000
bushels in 1881 when the chamber Of
commerce was organized, the business
has grown to 9o,938,9 bushels in
l905-the figures for the year being
the largest in the history Of the mar
ket. 49,
Shipments in 1881 were practically
nothing; this year they reached 49,
776,8OO bushels, or two and one-half
millions larger than ever before.
These figures speak more plainly
than many words of the growth which
has been participated in by many Of
the present members of the chamber.
Not a few of the men who assisted in
the organization of the chamber or
who became members during the first
few months, are still prominent on
'change and taking an active part in
the business Of the present time. It
was the business of these pioneers of
the market to establish rules and pre-
cedents, to induce consignments from
new territory and to attract grain to
this market which had been going
elsewhere, to- build up shipping de-
mand and to induce the mills to buy
in open market, and to create a stor-
age system which should afford the
means of handling the vast quantities
OF grain which they could foresee were
to be brought here for marketing. At
first the trade in futures was little
thought Of. But it soon became a feat
ure OF the chamber business and Min
neapoHs is now second only to Chica-
go In this branch Of grain trading;
while it is confidently predicted that
Chicago will be eventually surpassed,
In the other directions the members
OF the chamber have been eminently
successful. A glance at the list of
shipments appearing below will show
now nov the shipping trade developed.
Inc terminal elevator system at Min
neapolls grew rapidly with the encour-
agement Of the chamber and at the
close of 1905 has reached capacity of
9|,095,0o0 bushels, an increase Of half
a million bushels during the year. This
IS a larger capacity than any other
grain center except Chicago.
At the same time great lines Of ele-
vators extending along the railroads
thru half a dozen states, owned and
managed in Minneapolis. and Gather
up the grain from the country and
pour it into the terminals in this citv.
This plan insures the shipping of grain
to the Minneapolis market. Its com
pleteness may be judged from the f1g-
ures on country elevators in Mime
sofa alone. Out Of a total Of Las
country elevators 1920 are 'line''
houses, 1874 independent and al farm
ers' elevators. %.~5~
In its Is years the chamber of COM
merce has been very prosperous as an
organization, outside Of it's great sue
cess in developing a great grain mar
ket. It has successfully built two
large office buildings, the last COM
pleted in 1903, being one Of the finest
trading buildings in the country. These
undertakings have been SO successfully
financed that the debt Of the chamber
is small and will be disposed Of with
out difficulty. Membership is limited
to $50 and the demand is now SO large
that sales Of memberships have been
made at $4,000, with good prospect Of
their soon being worth double that fig
ure. = -. + .tss.l
AS has been indicated the past year
has been record breaking one in
transactions on the floor Of the cham
per, altho, as prices have ruled lower
than in 1904, the total amount Of bust
ness has not represented as large a
money value as in that year. Wheat is
the great stanla Of tho mo rlr az a1d IL