The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-05-19
Minneapolis September Sells
Down to S3c, Against 86c,
High Yesterday.
Good Weather Northwest, and
Denial of Yesterdays South
west Damage Reports.
The Local Situation and the For
E eign Advices Favorable to
4 Strength.

MINNEAPOLIS Chamber of Commerce. May 10
BY II O'Clock today wheat was down aimost
az from Yesterdays high point for minneapolis
September and July. Good weather over the
northwest started general selling when lncreaseo
when the favorable forecast was posted. sep
TENDER opened lower at s5Ac ana solo 10 os4t'
and July opened at $103A and went to 81 III -.
Stop-oss orders from small-lot traders were
reached and considerable wheat went overheard
In this way. Chicago July was weak; altno
the heaviest selling in Chicago during the iat-
ter part of the decline appeared to be IN Sep
TENDER So far as the crop reports were con
cerned they unfavorable as ever. Inc
southwest sent some very bad ones. II. ".
Jones, who has been in the winter wheat fields
Tor some time, wired that Oklahoma promises
poorly and is going backward More RAIN zen
over Kansas, and while reports differed ana
opinions differed also, general opinion was that
these rains are a bad thing. Dodge City had
40 inches, and 1t was raining there ana
at Wichita this morning Rust IS sald 10 De
spreading. Against the bad reports there were
some decidedly good ones from reliable sources.
One long message to a prominent local mouse
said that while there was damage, II was ov
NO means as serious made out. and the ner-
Vousness was unwarranted. Whallon has
message from Crosby Of Chicago, who had sent
nothing bad SO far, but now says ne THINKS
there is something the matter in the south
west, and that while the reports may be ex-
aggerated 1t will not do to ignore them Other
houses had advices indicating that there Is
rust and general hackwardness In many places,
but whether this is serious enough to warrant
scare is still open to question. Inc north
west showed up spIendidly, good growing wealth
er everywhere, temperatures higher and up to
70 degrees above as far north as Winnipeg.
Minnesota and North Dakota should have fair
and warmer weather tonight and tomorre sv,.1 II
the forecast out all right ana Soutn
Dakota Is due for showers.
The foreign news was bullish. Liverpool came
up rs @1Bd to follow strength of yester-
day. This not entirely due to American
shipped only 17s4,O0O Blu wheat for the week
against 3296O0O In the week previous and
1854, 900 year ago. Moreover, the pulk OF
the shipments Of last week went to the CONT
nent leaving Liverpool out of it. The local
news not weakening, for, while receipts
here were larger, 1913 cars against Is, the
elevator stocks show a decrease of about 100 oo
bu for the week. Duluth got cars against
8. Chicago against s, Winnipeg "a against
70, Kansas City $4,000 bu against $1,000 and
St. Louis Al 600 against is, 900.
The Modern Miller says: Weather conditions
for the week have been more unfavorahle for
the maintenance of satisfactory crop promise
over large part Of the winter wheat belt
Rains plentiful and the temperature too low
most Of the time to permit of a seasonable
growth In low lands where there was stand
ing water, the plant lost color. Reports of rust
and fly have been more numerous, altho no Sc
fious damage from this source is indicated as
yet. The condition Of crop has improved in
Texas. where the harvest will begin about June
j. The plant has made favorable progress gen
orally south Of the Ohio river. The crop as a
whole is in need of clear and warm weather.
tEliudry receipts ofo,OUO Du against In WV.
Clearances wheat and flour, 124, 900 bu.
The market went lower at the close. but Min
neapolls September appeared to be we'll sup
ported at S3c and would not go under. atho other
options went to new low points. The closing
break a Of reports to large houses
and from reliable sources. discredting the sensa
tional damage talk Of yesterday. One from Fort
Worth, Texas, said the damage had been greatly
exaggerated, nd tht the outlook favorable
could be desired Another from ENID
and said there absolutely cause for the
sensa tsonal reports, that the damage does moi
exceed 10 per cent and that the wheat so fal
from going backward had made unexpected gain!
for the week. Nico1let who was widely quoted
yesterday. also sent denial Of the most serious
quotations, and said that he figures on Oklahoma
for 1000. 600 bu wheat and has made no esti
mate the Indian territory.