The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-09-30

Gossip Of the Trading Floor an1I
IL,
About the Brokers' \.
Offices. 81
Armour bought september corn.

Armour bought September corn.
Clark-DOdge bought Steel common.
= Bank statement better than expected.
Logan seller of September corn.
Bank Of England sending gold to =
New York.
Duluth estimates 400 cars wheat FOR 7
Monday.
New York money shipments to In
terror much larger.
George Daggett-Wheat very uncer-
tain, depending principally upon re-
ceipts. &
j. R. Marfeld-A feature Of prime.
Importance is the poor quality Of the :
Minnesota wheat.
George Bagley-In my opinion, the Z
Minnesota wheat crop is the poorest for
a number of years. ID
Homer Ash, broker who trades for
Armour, bought corn and oats rather3s
freeley in Chicago, &
Lake-Brown bought Chicago wheat
and Rankin was also a late buyer, all
taking December
r. H. Hartman is reported to have
given big order to buy Union Pacific
on the break on Friday.
Housman, the New York stock brok-
er, is discovered to have strong pool
in Union Pacific working from his Of
fee:
the business on the New York Stock
Exchange very materially, as it always
does.
R. P. Robin, in Minneapolis yester-
day. confirmed his estimate Of the Ca
madam west wheat crop at 100,000,000
bushels.
Walter Thexton from Mclean, Win.
nipeg:. "Roblin's estimate considered
too high. We believe crop will not ,ex-s
ceeed S0,000OO0 bushels.'
Rosenbaum, the Chicago exporter who
has been very reticent, is said to have
admitted last night that enough wheat
has been sold for export to keep clear
anee as, at "a 100000 90: to 5,ooooo9 bushels
James j. Hill and Judge Gary and
other financial people interested still
keep what information they may have
to themselves, respecting the working
out of the long-expected Great North
ern-or land deal. ''E
Sir Thomas Shaughnessy is quoted as
putting valuation of 1S0,00O,000
upon the lands Of the Canadian Pacific
road. This is the big item that under
lies the stock and makes the Canadians
\ so confident of it. RI
I Ogilvie Milling company Of Montreal
and Winnipeg makes the flour situa-
ton more favorable and reports a sat
isfactory business doing and evidences
Of increased demand to come before
long.
New York to G. E. Lewis-We hear
that interests furnishing the explosives
in copper mining operations are quite
bullish on Amalgamated for the long
their contracts with mining companies,
Watson IS office says: "T The proof of
the pudding is in the eating and the
proof that the spring wheat crop is as
large as it was estimated early in the
season cannot be proven until it has
been distributed. We believe that it is.
Many traders are making extraordinary
efforts to eliminate the dgrum wheat
from the spring wheat yield. They are
competitor Of the so-called "bread-
making wheats,'' that it may do for
export and for foreign consumption,
but that is not good enough for do
nestle use. To avoid an argument, we
will grant that the last theories are corr
rect, but, does not every bushe1 Of
durum wheat sold abroad, either in the
product, supplant bushel Of the bread
making wheatq This contention over
durum wheat resembles the mental
arithmetic problem given by a teacher
to his class: IF I bought ten pounds
of beef, one-third Of which was fat,
at 1914 cents pound, what would it
costa The majority of the scholars
wanted to know if they were to include
the fat. The fat was included. So it
is with durum wheat; it must be in
Guided in the spring wheat yield and
given it's full value. Those who neglect
doing so will make serious mistake.
We see no change in the situation to
warrant belief In higher prices.''
| Piper from New York: Some Of the
medium and low-priced stocks show
animation for the first time in many
months. Wisconsin Central, Texas
Pacific and Mexican National preferred
, together with Rock Island are conspic-
uous- These roads are bound to show
lup well in the next big movements.