The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-20
a Very Bullish Table Prepared
!, s by the secretary's Office of
SIS the Chamber.
tfx gtE3 49EsG-,.
Receipts Very Light Here and at
Duluth-Liverpool Unre-
sponsive.
Prices Make New High Points at
781ac for December and
sas 813s@811ac for May.

Minneapolis Chamber of Commerce, Nov 90
Except for the fact that the cables were dull
and unresponsive it would have been difficult
Il to find array Of news items more bullish In
wheat than appeared this morning. In view OF
this the market, tho again very firm, was
little disappointing to the bulls, who are anxious
for quick results. The trouble that Chi
eago was not inclined to follow and tho Min
neapolis was quick to run December to 7s1sc,
Chicago held back. Locally December seemed
anchored above 78c and was holding well by
11:S0. 1t Is natural there should be less bull
enthusiasm in the markets nearest the winter
wheat fields. for the winter wheat supply situa-
tion is BY no means acute. and there is good
stock In Chicago. The northwest is the bull
center. Here there is an unbrOken run Of wheat
Ing the Duluth posting only 41s cars against
$50, and Minneapolis got only 241 against sos,
while Chicago had AZ against 144 The Winni-
peg run astonishingly light. only 1873 cars
against 1857. Even Kansas City. which against
light receipts elsewhere has been doing little
better than last year. fell of today with only
bu against $1,000. The secretary's office had
prepared an interesting table covering the move
nnent to Minneapolis since the beginning OF the
crop year. Sept. l, to date. Everyone knew that
the receipts had been very light, but few had
supposed that In wheat there was a difference
Tn Minneapolis SO great as 100000 blu, yet
4 is almost that. In total receipts OF grain am
Of all kinds the receipts to date, at 3S.777,320
Blu. are q, ESQ, $40 bu under last year, for there
was then received in a corresponding time
eo.ob7, $50 bu. 1t was certainly builish table.
Z Soo>AAAo
The bulls have contended all along that tbs
wheat crop northwest is short, and have pointed
to the light Minneapolis receipts as proof. The
table showed that II wheat Is short oats, barley,
rye and nax also short, and corn, relatively
10 unimportant scarcely ever to be thought
OF is the only big northwest crop, because re-
eeipts here have been larger. The fact Is the
table showed the fallacy Of gauging the crop
by the movement If the receipts here are to
be taken as indicating production then the north
west Is face to face with the worst calamity
for years and is busted community. IT the
Teceipts here indicate production, then the north
west has not raised enough stuff to keep up Its
their ORDERS for the purchasing power of the
country, on this contention, must have been
lowered materially If, in short, the receipts at
Minneapolis are indicative of production the east
has been fooled, money sent northwest for in
yestment has been obtained under false pre-
lenses, the general volume Of business to come,
railroad. jobbing. banking and land business,
must suffer and general period of decreasing
business for Minneapolis and strained credit
northwest is ahead. Probably no one really be-
eves any such tnng Those market
stood on the proposition that the northwest Is
all right and has raised satisfactory crops, will
probably find their views substantiated. tho how
long it will be before the railroads bring the
stuff in is hard problem. bull argument
based upon local supply conditions Is legitimate,
for they are bullish and have been for long
time but an argument that rests upon the basis
that the railroads have brought In only little
over half the grain moved in the same time
! year ago and therefore the northwest has
raised only half crop, is misleading and mis-
! chievous. since it gives the entire country 4
wrong idea to new wealth produced here this
ypar, and it is upon this production Of new
wealth that the business and credit of the entire
nor Invest rests in the final consideration.
Bradstreet's report of the worlds visible was
bullish, showing decrease Of GEO 600 blu against
an increase last year of 3.374 900. East of the
Rockies there was an increase of eo7 900 bu; In
Canada a decrease Of 367, 900 blu and in Europe
and afoat a decrease CT 1900 900.
Clearances for the day, 100000 bu wheat and
-four. Liverpool closed unchanged to I'D higher.
Primary receipts, 100000 bu against 1885,
600.
The forecast: Illinois,, Indiana and lower
Michigan, rain tonight and Wednesday,;
Missouri, snow tonight with slightly colder east,
Wednesday part cloudy with possible snow fur
ries east; upper Michigan, part cloudy tongh and
tomorrow colder north tonight; Wisconsin and
iowa, partly cloudy tonight and Wednesday,
with probably snow south and east; Minnesota,
generally fair and Wednesday, warmer west;
North and South Dakota, generally fair and
warmer tonight and Wednesday; Nebraska, gen.
orally fair tonight and Wednesday, warmer
Wednesday; Kansas, partly cloudy tonight, with
snow southeast. Wednesday generally fair and
warmer Montana, generally fair and warmer.