The Minneapolis journal., 1905-11-12
ROUND THE TICKER
And in THE PIT
Gossip of the Trading Floor and
About the Brokers
Offices.
MILLION bushels oats cleared SATURDAY

n WlNNlPEG export inquiry not very Srlsk.
BANK CLEARINGS, entire csantry, gain il
per cent.
MINNEAPOLIS bank clearings gain nearly A
per cent.
TEN LOADS Manitoba wheat were sold late
yesterday.
CALI. MONEY is expected to rule firm all
thru next week.
BANK STATEMENT any thing but favorable
market sign
NEW YORK bank reserves now ST. 42s, 600 g
below requirements.
RESERVES have not been exhausted before
since September, 1902.
EIGHTY-SEVEN railroads increased Septem-
ber net earnings by 7.94 per cent.
: CANADIAN PACIFIC earnings, first week in
new YORK feAff WiPl 81 sell s1S. 200 new bonds
on Nov. %, bearing 312 per cent
HARTMAN said yesterday: "Stocks are a
purchase, Reading, Smelters and Canadian Pa
cifc, especially
VALENTINES prediction Of dollar wheat,
may yet come out but it looks pretty poor just
at present.
WALL STREET has discounted the bad bank
statement, says Watson's New York office, and
there should be Improvement.
e M don't .s h9w gSeaee much ge sa after sus
will probably be generally lower"
RANKIN says: ut seems foolish to advise
buying corn, yet believe after the effect of the
government report passes it will rise
SECRETARY SHAW says again that he fs
satisfied money conditions will work out all
right and he will place no money in the New
York banks at present
PIPER, from New York. 1.-The inactivity of
United States Steel stocks in the face of
quarterly statement showing largest untitled
orders in history. is remarkable
NORTHERN, PACIFIC is negotiating with the
American Locomotive company, and will prob
ably place an order for 100 new locomotives, to
be delivered next spring. --sa!
WHALLON'S New York wire says: tThe
stock market showed wonderful strength in the
face Of the bad bank statement. The danger
in the situation is in the pools. Some of them
must be pretty hard pushed for money and
should they have to throw over their stocks,
prices would suffer- .-. s...~ -
|. WASHINGTON Message to Lewis-The gov
erIment is hardly in position to increase the
New York bank deposits as the cash balance is
low and as interest payments are not due until
January it is hardly probable that they will be
anticipated at this time.
LOUIS T. WATSON wired, after the bank
statement had appeared: More confidence is
reflected. Secretary Shaws recent assurances
dissipated to a great extent, fears as to money
outlook. 1t is believed relief will be forthcom-
ing from the government II needed, either di-
rectly here, indirectly to banks elsewhere.
The short interest large, and none too sure OF
its position.
JOHN w. GATES Office Says-Some bank
ers believe a continuance Of the present high
average rates for call money will
sumption Of gold imports. especially If exports OF
cotton keep on increasing as they have done this
| week. Exports Of cotton for the five days end
| ing Thursday were Ia, 1854 bales compared wit
1OS O33 bales for the corresponding days Of 1904.
| F. P. FRAZIER said: 1.-The only part Of the
! country tolay that is buying commercial paper
| is Kansas Iowa and Nebraska. Five years ago
| these same people were wearing straw hats IN
| the winter time, but, owing to their great
economy In living, they have been able to save
up money enough to come in at this time and
! buy commercial paper put out by eastern houses.
| Now, II New York people would economic and
! not live SO high and cut down their expenses,
they might have money enough to do business
and not have to charge their customers 10 per
| cent" n .-. .'1..s.-.
| CHARLES e. LEWIS from New York:
Speculative comment tonight reflects great sat
isfacton over the action Of the stock market the
! past two days. 1t Is conservatively estimated
| that there have been sold this week by timid
people over 100000 shares Of stocks. The way
| these holdings have been absorbed, competent
| critics agree, encourages the belief that while
prices may 60 somewhat lower the outcome Of
the current developments will be resumption
of the bull movement at no distant date. Not
| in long time has the market had arrayed
| against 1t 30 many adverse influences as have
| obtruded themselves in the last ten days"
| W. H. BARTLETT says: ''There has been
a. systematic effort made the last few weeks
to build up bull sentiment in corn, the
| claim that the husking returns are disappoint-
ing. The government report confirmed the
largest estimate of the crop and has effectually
disposed Of this claim. .. a3
| 1--WE raise our large corn crops in the wet
| years. As four-hfths Of the crop is raised on
high land this necessarily means some disap-
| pointing yields on low river bottoms and on
prove that the crop, as whole, has received the
necessary moisture. ...
81 believe we have raised at least 500, 600, 600
bu more corn than we did last year, and 1t is
the general belief that 1T is of such high quality
| that 1t Will go 10 per cent further, bushel per
| bushel, for feeding than last years CROP"
HENRY LITTLE, interviewed at the New
York Produce Exchange, said: "There no
heavy flour stocks in the east and trade is still
good, as 1t has been thruout the country, with
the prospect Of the best year ahead for Amer
lean millers they have had in years. This ap-
plies particularly to the home trade, wheat
and -four are legitimate basis, with a
profit in manufacture and in bringing it for.
ward to market. Exporters did good business
at the opening Of the crop and before it moved
when wheat down to SOC, before freights
went up. Now they one shilling out OF
line, but will come in again when wheat gets In
line here with Europe.
mills thruout the northwest are sold ahead
two months or so, and are not pressing sales
and will not have to If the trade holds on a
while yet. But will need business ano
will get it again before the holidays The
whole country has the best wheat crop in years
and tho it will not be large as the govern
ment estimate it viii be 625, ,000, 600, mostly oi
good milling wheat. The northwest Is full oi
wheat and receipts would be doubled il carl
could be had to move 1t. There are thirteen OF
our country elevators closed because we cannot
, get cars. The northwest, and especially Mime
apolis, was never growing so fast and was neVe
SO prosperous as now in every branch Of bust
| neSs q .