The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-10-06
Selling Of the Chicago Long Stuff
Sends December Wheat
Down to 721sc.
Gables Lower, Receipts Larger,
Fine Weather and Poor
Cash Trade.
Three Minneapolis Flour Mills to
Close for Time-Trade
News.

Minneapolis Chamber Of Commerce, Oct. g.
The bulls in wheat had nervous time OF II
and December broke to 721ac, May going to
76Ac, The stories Of Valentines doings in the
market and Of big men about to run corner
had effect to scare holders for such report was
taken to mean that the big ones were ready
to unload. Hence men who are believers ~; N
wheat and wne to
ate setback In price in the confidence OF higher
values at some future time, sold out with tne
faint-hearted ones, for all were afraid or the
uncertainty attending the Chicago manipulation
The cables were off, Liverpool coming 1Ad lower
and closing at that decline. Local elevator
stocks, with decrease for the week OF 2lo'le6
bu are believed to have struck bottom for the
year at 1,574, 517 bu, for there Is an increase
Of Is 600 5u noted for day since making
M the report. Receipts in Minneapolis and
Duluth today exceeded the last year ngufes
for the FIRST time and ran over by ~ cars anu,
as the railroads getting into better condi-
ton to handle shipments, and the foAecast is
for favorable weather over Sunday the promise
is for liberal receipts on Monday ana TUESDAY
next. The cash market was also In less favor
able shape, and the fact that the mlllers We're
so Indifferent started the report that one OF the
big companies would close down three mills to-
night and wait for an Increase in flour demand
which, compared with what usually shows up
in October. and the business IN octoper See1
ago, Is not satisfactory.
The posted receipts here were 476 cars against
est; in Duluth, a36 against 212; in Chicago, 40
against 81. At Winnipeg there were 4O7 COM
pared with 415. Kansas City received $4,000 bu
$4,000.
4 OF the Chicago DEAL about which there ts SC
much comment and SO much uncertainty, the
Chicago Tribune says: "Al-star A. 1. valentine,
builder of a pretentious line of wheat early In
the week. yesterday unloaded approximately
100000 blu of his holdings. In selling the
grain. according to pit observers. he shouldered
a loss running into the thousands, and his
EFT vro6 1nnrya ND
pressing the market. Dizziness Of most pro-
found sort prevailed, outsiders again posing as
czars in the sphere of Indifference. The we'll
worn talk Of schwab, Sweeney and other east
erners being behind movement to put money
and muscle under the market continued to float
about in It's usual abandon. To several observ-
ers it looked as II some OF long eastern wheat
came out when it was seen that bulllsh en-
deavor failed to bear fruit. The demand for the
cash article less urgent, prices showing
relatively weaker than the futures. The new
export business was not big factor, altho some
sources declared that bids were nearer
working basis"
Primary receipts were 1,272ooo bu against
1922, 900; clearances, 2S4, 600 Blu.
Broomhall predicts that the worlds wheat
shipments on Monday will be 10, 4oo, 900 bu, OF
which quantity Europe will take o,2OO, 600 blu.
The actual shipments last week were II, 100000
bu and those Of a year ago 1920, 600 blu. Ar
rivals of breadstuffs into the United Kingdom
during the past week VIII aggregate about
300, 900 bu. He predicts that there will be q
moderate change in the quantity Of breadstuffs
on passage.
Liverpool cabled. "Wheat was quiet at the
start, with values sd lower, being Influenced
by the lower American cables and predictions
Of heavy shipments from Russia. The market
continued under the influence Of larger offerings.
and, with more liberal American receipts, values
at the close showed a further decline Of 1sd.
Corn had a weak opening, with values Nd
lower, and during the morning prices further
declined "a Selling pressure resulted from
cheaper American offerings and lack Of sup
port
The weather forecast: Illinois, Indiana and
lower Michigan, fair and cooler, frost, Sunday
fair and warmer; upper Michigan, fair tonight,
cooler, Sunday fair and warmer; Minnesota and
Iowa, fair and warmer tonight and Sunday;
Missouri, fair tonight with probably light frost,
Sunday fair and warmer; Nebraska, Kansas,
North and South Dakota and Montana, fair to-
night and Sunday, warmer tonight.