The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-08-19

ROUND THE TICKER
. AND IN THE PIT
Gossip Of the Trading Floor and
&C.. About the Brokers
Office.

C. E. Lewis-There has been excel.
lent buying of the Steel stocks and New
York advices say they are a purchase.
F. P. Frazier-Now that Hartman
has made his great announcement az
to Union Pacific dividends, look out for
Hill and Great Northern.
Zeller of the New York Stock ex-
change-Buy Amalgamated. believe
the advance just started x
Van Amberg-The bears were routed
and hard hit. They will go slower
hereafter.
/ J. W. Moore-Sentiment in wheat
has changed since it was case of
everyone sell, at 84c, and many are
ready now to buy it.
Rycroft| think the wheat still
sale on a rally. Exporters are not taxi
|: ing much.
ready fog break of 2 or 8 cents. The
northwest has a big crop and has just
begun to hedge.
J. D. Fraser's Chicago wire sayss
For anyone looking for a railroad stock
to buy on basis Of earnings, Louisville
& Nashville is consideration.
Finley Darrell to Pper-In Barton
county, the banner county Of Kansas,
where land is worth $50 per acre, farm.
for their wheat. This is less than cost
Of production: Only the poorer farm
renters are selling.
| c.. W. Hamili to Whallon - The
declaration on Union Pacific was q
straight one Of per cent semi-annual,
indicating g. 10 PER cent permanent.
You will recollect this is the first
declaration covering a definite period
Union Pacific has ever made. The
Union Pacifc's equity in the declara-
Southern Pacific dividend is approxi-
mately sufficient to pay the increase de-
clared at this time. Southern Pacific
declaring a 21a per cent semi annual
indicates permanent pei cent basis.
This puts an entirely different COM
plexion on the market, and it looks
as tho stocks would sell higher. No
body but insiders had anticipated any
such dividends.
Bartlett to C. E. Lewis: "a gentle
man was in our office from Clarksdale,
Miss, and he said they have the larg-
est crop OF corn in that state that they
have ever raised. He also says there
is an increase in the acreage and that
the corn will be ready for consumption
about the middle Of September. be-
lieve that the demand for corn from
the north to 60 south in September is
going to be extremely light, and many
Sections that have bought freely will
not buy any more. I can see nothing
but lower prices on our September
corn.'
Noyes of Chicago to George F. Piper
LIT is generally conceded that im-
porting countries will buy American
wheat very freely this year, as both
the northwest and Canada have a large
surplus and prices now are on a cheap
consumptive basis. Moderate export
sales are being made daily: The winter
continue light, but the spring wheat
movement is ahead of us. This is tho
feature that strikes terror to the bull
and which therefore will deter specu1a-
tive support. Prices, however, are
down to a point where in many cases
they net the producers less than cost.
Spring wheat farmers have enjoyed
high prices for the last three or four
, years. They are prosperous, and 1t ID
more than likely that the spring crop
movement is being overestimated: Should
foreigner will be a good steady buyer,
even at advancing prices. We hear
about going back again to the old basis
Of values which prevailed in previous
, years Of large surplus crops. Consider.
ing, however, constantly decreasing
! power of oney, we believe that 300
, wheat today is equivalent to { wheat
five years ago. Liquidation If. Septem.
Der wheat is coming within the next
: twenty days. This will tend to q
, widening of the carrying charges, from
3 customers who are long September VIC
: advise their transferring to Decembe!
4 at once. Wheat is the cheapest food
stuff on the list.