The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-12-19
Every Scrap Of News Today Of a
Nature to Depress the
Market.
Yet the Market Turns Strong and
Sells Up Quickly a Full
Cent.
Too Many Were Waiting to Get
Some Cheap Wheat-News
of the Day.

MINNEAPOLIS Chamber Of Commerce, Dec TO-
Just how it was that wheat did not decline
cent OF more after the opening today was
thing the bears in the market could not fatnom.
1t would be putting it mildly indeed 10 say
that the news that came to hand was bear1sh,
for it was more than that. Not single soou
item Appeared OH which an ordinary trader Wonlo
buy and there dozen or more OF nature
to scare out holders Of long stun ana TO ehcoui
age short selling. Liverpool was IS @ld lower
Rains were reported in the Punjaub, !ndla'
where needed. Winter wheat reports were favor,
able and the Broomhall crop summary showeu
European crops In satisfactory condltlon on inc
whole altho some minor things of an unfayor-
mile ma tnre were noted. The Northwestern MIL.
Ter had direct Argentine cable saying that
the harvest is progressing rapidly ana every
thing indicates that a good crop VIII ne Sc
cured. With this the primary movement showed
up heavier than expected, Minneapolis eett1ns
the big end or GAS cars against 4oS. About 100
ears of this wheat really came In late yesterday
and was not inspected until today SUI inns
made 10 difference in the depressing erect OF the
comparison. Minneapolis stocks also ihcreasEu
600, 900 bn for three days, which rate OF acCulh-
uIation if continued thruout will give the larg-
est gain in Saturdays report of any week SO
far this season. The flour shipments 1eN 10
only So 224 barrels, the smallest for months'
and talk went around that the mills may close
next week. The bears have had the natural
advantages always accru1ng to their sloe "nen
extreme dizziness is on, and the stagnatloh III
the pit helped all thru the decline from SOC
for May to s47s Q1s5c, the point reached early
today The bulls have looked for returning
activity to help theIn oul' p'i. tAo ~ SO
likely to be quiet for some time yet as the
Christmas holiday Is close at hand
There will be little foreign , influence e, upon pa
closed for the four days from the 23d to the
26th Inclusive and Paris Will close on the @o'h
and Goth.
Receipts at other markets showed much vari-
alton. Winnipeg got big excess, or oso cars
against 34l Duluth received only 1s5 against INST
3l7, Chicago 80 against 25 st. Louis got 45,ooo
bu compared with 5000 and the Kansas City
comparison 100, 600 bu and $1,000.
Cash demand was not 80 brisk NO. 1 hoflh'
ern sold at 1%Ic under May.
Bradstreet's report made the world visible
supply increase by ,366000 blu, there belng an
increase of 1865 900 bu In the quantity eas'
of the Rockies aud decrease of '26oo,ooo ou IN
Europe and afloat.
Poehler says: THE situation Is unchanged,
and the declining tendency is due wholly &c
the usual holiday dullness Longs instead OF
supporting the market, sell out with the eA
cline. while the shorts are encouraged In 1ncreas
ing their lines AS the situation Is unchangeu
some fine morning everybody VIII want solhe
May wheat. and then the period or guinness AM
declining markets will be forgotten In a Gay.
The market made sharp turn just before tnt
close and ran un cent very quickly Moou"orI
bought a couple Of big lots and starred TN
shorts covering. The market went up as mucn II
OF pressure. There apparently too man,
waiting to get in at Soc for May to make
possible to hold the price down very long.
Clearances today, 22O0OO bu
p. j. Murphy, travelling auditor Tor the yum
mings Commission company. who has been thr
the northwest during the past two weeks, report
that he finds very large percentage OF the GRO
has been sold by first hands. This is especlall
true in Minnesota, North Dakota and Canada
He also says that northwest receipts will shov
Il material falling off Immediately after tn
first Of the year. Farmers who have their whea
left will not sell at the present level of prices