The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-15
Wall Street Looks for a. Boom

Since Tuesday last the statisticians
of Wall street have been busy figuring
out future railroad tonnage, as indi-
Gated by the present crop lineup, and,
/ under influence of showing wonder
fully good, the stock market has taken
& on buoyancy and greater activity. The
farmers make all the business in the
final count, and since the farmers have
] sown larger acreages Of nearly all prin-
cipal crops, and conditions average well
up compared with last year, there is
substantial reason for optimism. The
] street gives little consideration to the
fact that Of the principal cereals,
/ spring wheat has yet to pass the most
critical period, while corn, at this early
date, must necessarily be uncertain;
but, true to its practice, is already pre-
Z pairing to anticipate the best and dis
I count the prosperity sure to come if the
big yields are realized. Predictions are
/ freely made that if the general crop
! promise holds thru July, big bull
stock market will be on.
The most encouraging feature of the
total planted runs to 94,011,000 acres,
even exceeding the big acreage Of last
4 year, which was 92,231, 900. The spring
and winter wheat area, at 47,336,0OO
/ acres compared with 44,O74,OO0, makes
the grand comparison show 5,042,000
acres more than last year in the two
principal grains.
How much of this will come out no
one can tell, altho in winter wheat a
a good crop is assured and first cuttings
are already on the market. If one is
willing to pass over the shade Of sus-
picion attaching to governmental fig
ures since the cotton-report scandal, he
may take the July averages and figure
out minimum promise of 410,000,0OO
bushels of winter wheat, 290,OOO,OOO
bushels Of spring wheat and 2,5OO,0OO,-
81 600 bushels Of corn. Last year the win
+ ter wheat was cut by damage to $780,
100000 and spring wheat, owing prin-
cipally to rust in Minnesota and the
d Dakotas, turned out only 219,OO0,OOO
bushels. Corn was good crop, run
ming to about 2,450,OOO,OOO bushels,
making total of 1901, 100000. Fig
uring the present promise at 3, 190,000,-
600 bushels for both wheat and corn,
there is an indication Of almost 2OO,-
( 100000 bushels more grain, most Of it
wheat. -
This may not be realized in full
The vicissitudes of the season may yet
reduce it, even if the spring-wheat con-
dition, officially put at 81, is not too
assurance remains, however, of very
bountiful crops, and it is conceded that
even with large productions, prices are
likely to remain on a level high enough
to. bring very satisfactory remunera
ton to the producer. If the harvest
windup shows returns anywhere nea1
s. the present promise, there will be great
activity and prosperity all over the
country.
1t looks, therefore, as if commerce
will flourish, the railroads, banks, Job,
bers and manufacturers will do good
business, money, will be plentiful, col
8 lections easy and good times general.
IL 1oohS d1oo do IL JIG poWeIS OF all
street are ready for another turn OF
stock imitation such as usually runs Just
in advance of increased prosperity in
the more Legitimate business lines
Everything that comes out Of the street
indicates the gathering of forces for the
boom.
Yet it remains to be seen whether. the
public will come in, and no great pro
longed bull market can be maintained
without public interest. Given the con