The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-04-04
Chicago, Milwaukee and St. Louis
Closed and Not Much Bust
ness Done Here.
Big Houses Warning Their Gus
toners Against Trading in
Chicago May. s.% -
The Southwest Freeze Predicted
for Last Night Failed to
Show Up.

Minneapolis Chamber Of Commerce. April e.
With Chicago. st: Louis and Milwaukee closed
there was dizziness in wheat today following the
opening. and to II o'clock the market scarcely
moved, holding just shade under yesterdays
close. No freeze came over the southwest, as
was predicted. and the bulls little dis
appointed in this. In Omaha and vicinity the
temperatures were down to 49, and Kansas City
showed 40 also. but there was nothing close
to freezing anywhere, and even as far up as Des
Moines the lowest recorded during the night
was 81. For tonight the prediction Is for frosts
In the middle states. and this scared the trade
again. THE bulls confidently expect something
and April TO- to Offset the government report
due on that day, which will show the condition
Of winter wheat on April /, and. from all expec-
tations, will be bearish. The local situation
stocks had decreased $50 900 bu, and they stood
At the same figure this morning: Meanwhile 200
cars were received here against 127 year
ago. Duluth received 20 against TO- and St.
Louis 44,5oo bu against 1860. Winnipeg had
1873 against 17s.
a A feature Of the day in speculative wheat is
Yesterday Bartlett sent out notice to Lewis
and today Darrell followed with message
70 Piper advising all to stay out Of Chicago
May and to close out all trades in that option.
Failing in this traders notified that they
must be prepared to respond to- any calls for
margins that may be made. The trade saw
this warning as bullish or bearish. according to
how individuals looked at 1t. Chicago May is
In the hands of clique, and when the time
looks opportune twill be run upaa cent at :.
time to enable the clique to sell out their big
holdings. Consequently 10 commission house
cares to be carrying along any short wheat I'M
less margins are to be forthcoming promptly
upon call, This was the bull view. The bears
took 1t as indicative of decline to come. Chi
eago May has been strong while other options
have declined. The bull things predicted from
day to day have not panned out. Receipts are
not decreasing. stocks holding up, winter
wheat is not being damaged. spring wheat Is
being seeded and the freeze predicted for the
southwest last night failed to come along. 1t
is Chicago May against the field The boom
IN Chicago has got to come. and If the Chi
cago manipulators cannot get 1t by legitimate
means they have got to hold 1t up by main
force: But they will want to sell some time.
Then. say the bears. there will be a crash,
| and it is this as much anything that the
I! commission houses fear that are now advising
I traders to keep out. q
! The Record: Herald says: Continental Eu-
ropean buyers of new-crop wheat are in much
! the same attitude toward the American market
a. they were year ago. They will take wheat
/! dom buyers to stand around and haggle over
differences. Not much further decline in the
markets Of the southwest is needed to start a
good export business In wheat with the con-
tinent'
Bradstreet's report shows wheat east Of the
decreased 100000 bu; total decrease, 1,569, 900
! bu. Corn decrease LIZA 900 bu, oats decreased
Gas, 900 bu.
The forecast: Missouri, Kansas. Illinois, Iowa,
. Indiana, Minnesota-Generally fair tonight and
Wednesday; light frost tonight Wisconsin,
Michgan--Partly cloudy tonight; fair Wednes-
day; frost tonight. Nebraska. the Dakotas-Fair,
frost tonight warmer Wednesday.
May wheat closed at $1.osss and July at
81 O2M al .O2%.