The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-08-12
ROUND THE TICKER
FL. AND IN THE PIT
Gossip of the Trading Floor
and About the Brokers'
Office.

W. H. Bartlett wired J. D. Fraser:
81 have just returned from abroad,
and while there had an opportunity to
obtain the opinions of the best posted
importers in both London and Liverpool
relative to the future of the wheat
market. | found an undertone of bull
ishness, and belief that our wheat
crop would all be wanted. Their re-
ports relative to the Russian crop were
very discouraging, both as to quantity
and quality, and they seem to feel that
wheat should be a purchase on the de-
clines from the present level.
President Howard Elliott Of the
Northern Pacifs says: The only cloud
on the horizon is the scarcity of labor,
which has seriously retarded the build
ing of the extension from Riparia,
Wash, to Grangeville and Lewiston,
Idaho, as we'll as all all other work.
President Elliott says that the gross
earnings of the Northern Pacific for
the fiscal year to June 30 will be $62,-
100000, an increase Of $lO,OOO,0OO.
Several prominent Minneapolis men
money situation. A. A. Crane Of the
National Bank Of Commerce said:
cit is difficult at this time to give
any accurate estimate as to the amount
of money which will be needed to move
our crop, but it would now seem prac-
tically assured that the northwest will
have in almost every locality bountl-
full harvest. 1t is quite likely that
from Aug. Is to Dec. l, there will be
| large demand for money, and that
| rates will be somewhat higher.
"During the last few years the ae,
emulation of wealth In the northwest
has been very rapid, and it is likely
that the financing of d considerable part
of the crop movement will be done with
our own money!
F. M. Prince of the First National
bank said: General business is very
active and this has taken more money
than usual all over this section. Most
of the banks in the cities and the coun-
try have larger capital and more sur
plus than ever before, and will take
care of a larger percentage of the needs
but we always need some from the
east
F. A. Chamberlain, president Of the
Security bank, said: The northwest
is in the midst of harvesting what. l
believe will prove to be more than an
average crop, which will commence to
come to market now very soon. The
northwestern and western banks have
more money than ever before, and will
be better able: to finance the crop
moving period than any other season,
as there is larger acreage IN crop.
| lne1G Will, liz uOuDG, pC c1Dooo eiS
. demand on New York as last year,
COMMUNICATIVE believe that prices
.. are low enough to prove profitable to
the purchaser on the breaks around 73e
for Minneapolis December wheat and
TIC for May. -,
JacksonEsell Chicago May wheat.
, Sell it before it goes down under 75c.
r short wheat. There is better export
! business doing than many people think.
, Annual report of Northern Pacific
expected to show surplus of $23, OO0.000.
G. W. Patten-While l hardly. feel
like advising buying wheat, it is no
longer safe to sell it short, as it was
, few days ago.
l did crop reported, the unparalleled rail-
road earnings and the wonderful bust
ness activity in all lines thruout the
' country would certainly warrant higher
: prices in the stock market were it not
g for the specter of tighter money. How
:, ever, banking experts do not look fol
! any stringency this fall, altho firm rates
;, will probably prevail.
e Alfred J. Kohn, a New York curb
p broker offers to wager $4,000 that the
! next dividend on Greene Copper will be
g reduced from rate of $40 share
q a wear, which has heretofore been paid
= Piper from New York-It is gener
{ ally expected that the stock market viii
/ 1 be somewhat irregular on Monday
{ Brokers, however, who have believed il
IS the present movement from the outset
say that during the last few days large
interests have bought stocks again and
v they see no reason for taking anything
e. but an optimistic view.
# Earnin gs-Chicago Great Western
" for the first week of August, increase
in $4,000. From July l, increase, Sis,
OOO