The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-10
Prices Sink Again and This Time
Go Lower Than on the For /
mer Decline.
May Reaches $1.053s and Closes
$685., and July Touches
$1.01A@1.O1ss.
Government Report Comes This
Afternoon-Chicago's "Cor-
ner" Is the Feature.

Minneapolis Chamber of Commerce, April TO-
Everyone waited today for the government re-
port, and trade in wheat was light. The week
began with reports from Chicago limiting at
collapse of the Gates corner in May. Predic-
tons are made that the big manipulation IS
carrying too heavy load. These were accom-
panied by reports from New York to- the effect
that the selling of stocks came largely from
Gates, who had to sell some to protect MS "heat
deal. However this may be- 1t Is certain that
the thing cannot go on TINS way o muen 10 fhe
distance, and II the market is not going up
it is going down. The government condition
of winter wheat may afford basis tor agrees.
iveness either way. A good many believe that
the best has been heard, that the report VII!
not come so favorably as generally expected ana
that even If 1t ls as bearlsh as it can be 1t WILL
be found that the market. having been de-
pressed FOR time. will be quick to react. The
hears the less confident that the re-
port will help them. Admitting that the Chi
cago manipulators will take the opportunity to
try for an upturn they believe that the final
pull will be downward This morning the wealth
er was not springlike, Bismarck showing a
down word Of an unfavorable turn in the wealth
er over Manitoba. Other news items and fig
ures Of the day were against weakness. The
local elevator stocks decreased 100000 bu to
this morning and receipts here fell under year
ago, 242 cars against PIT Duluth had IA cars
against 81, Chicago a stand-on, II against ~ .
140. The southwest got plenty Of wheat how
ever, and st. Louis received 81 900 bu compared
With only 9OOo Kansas City $4,000 against
1000.
The visible decreased $4,000 bu against a
decrease of 547. 900 year ago. The total now
as compared with last year is larger, 81 ,697 600
bu against 31,1S0, 900. e..
Primary receipts were $4,000 bu against
$4,000.
Stocks of wheat at Fort William and Port
ARTHUR increased for the past week by 316Os4
bu, making 6,745, GIT bu now In store there.
Much late gossip came in relative to the
movement Of wheat into Chicago. Mackinaw
wired that the weather is warm and the ice
going rapidly, open water in many places. This
Indicates that the steamers Hutchinson and
Sultana, wheat-laden from Duluth, are likely
to be in Chicago in few. days, as they cleared
Thursday from Duluth. The price of May
wheat indicates that their cargoes, whether up
to contract or not, will probably be diverted to
the Chicago cleaning houses. Later advfces were
that one steamer has flax aboard and so does
not count in this connection. Adyices came or
change to Hallet that there was talk In Duluth
OF 5oOO 900 bu No. northern to come to Min.
neapolis, and Mackay had a wire stating that
cargo of wheat will be shipped from Buffalo
to Chicago.
Nicollet Of the Kansas City Star says if the
present promise is fulfilled there will be 800.
600 900 bu winter wheat raised, or 175OOOOOC
than q year ago.
Shows weekly crop report says: weather
conditions continue highly favorable. both fol-
crop preparations and crop growth. The needed
rainfall has been received, both in the central
winter wheat belt and in the northwest, ant
plant development has been rapid. Dat seeding
under most favorable conditions is we'll toward
completion except in the northern belt. Rapit
progress has been made in corn blowing, ant
an Increased acreage will be planted. Broadly
speaking. the season opens with unusually brigh
prospects for all crops
May wheat closed at $1.OJ2 and July a
81 O1 az .O1 N,