The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-04

Gossip Of the Trading Floor
and About the Brokers'
: Office.

Pringle, Chicago-Tendency corn,
oats and provisions higher.
Shack, Chicago-The crowd will be
trying some day to buy back the wheat
now selling.
Slaughter, Chicago--Argentine ship
ments wheat are $4,000 bushels less
than last year.
Bartlett, Chicago-Coarse grains con-
ditions are growing bearish and corn
and oats are sale.
Frazier. Chicago-Buy the wheat for
profit every time there is little set
back in it.
jackson, Chicago-Sell wheat every
time it bulges. Natural conditions will
one day prevail again northwest.
Reading railroad has increased wages
10 per cent, effective Nov. l. This APP
plies to all receiving less than 5000
monthly.
Broomhall estimates worlds require
ments of wheat for importing countries
for the season will aggregate 545, 100000
bushels of which Quantity 1S0,7O0,000
will be needed from United States.
Minneapolis stocks of wheat in Octo-
yer this year decreased 100000 bush
els against an increase last year $780,
600 bushels, or a difference in round
numbers of 100000 bushels of wheat
in the bulls favor.
Wanipeg-Altho it is claimed that
the wheat crop of the Canadian north
west is no larger than last year, re-
ceipts at Winnipeg from Sept. l to Nov.
l were 27,612,O00 bushels, an increase
nearly 100000 bushels over last year.
Arrivals of other grains were 2,1SS,OOO
bushels compared with l. 10000 bushels
last year.
Watson s New York office says:
'The stock market now reflects more
confidence in Mr.. Hughes election than
at any time during the campaign. The
increase of odds to 5 to had most
favorable effect. There is apparently
very little Hearst money in sight at any
odds. The Monday outlook is not
that interior shipment will start in
soon and relieve the present stringency.
The rally has eliminated a part of the
large short interest, but it is still large
and will be made to account for itself
after election. Fundamentals are strong
and the uncertainties are gradually
clearing away.
Piper, from New York: "Wall street
has settled the election to it's satisfac.
ton and there has been retreat of the
short interest," What bothers Wall
street now S the outlook for money.
The Bank of England, Bank of France
and Bank of Germany all made bad
showings this week and the money
stringency is worldwide. While gen
eral conditions remain as they are,
there seems to be but little danger Of
much decline in the stock market, but
until the money situation clears up it is
gong to be difficult to engineer any ad-
vance of Importance. The market will
therefore probably remain in trading
position
r. w. Dennis to A. G. Chambers: 81
thing it will be found later on, that
the country miller in the northwest
has contracted for the farmers wheat
very largely, at a price and on time
delivery more satisfactory to the far
mer than Minneapolis offered. The
country miller has suffered in the past
SO badly by the exaction of the Min
neapol1s and Duluth elevator trusts
that he took time by the forelock this
year as soon as there were signs of dis
appointment in the shipping wheat
yield. The capacity and magnitude of
the northwestern country mills has
been ignored year in and year out by
the trade in general. and few realize
that it is nearly as large as the milling
capacity at the large centers on which
all trade eyes are usually conferred, to
ING ucGlllll VI IuclT uSu-
ally.'
Joseph's New York letter to G. E.
Lewis: "There are no miracles in pol
tiles. Hearst is already comfortably
defeated. Bears will do we'll to step
up to the captain s office and settle.
10 not underestimate the value of
Pennsylvania. Remember that it is
now per cent dividend payer and
so confident is the management of the
future that an advance of 10 per cent
In wages, involving $l0,0OOOO0 per an
mum, is given to employees. Pennsyl-
vania is worth 100; it will reach there.
Keep long of Union Pacific. Hartman
is talking big things for his issues. On
bulges sell Reading for turns. Bet on
Hughes victory.'
New York to Whallon: eff the
market becomes decidedly more active 4
in the next few weeks, it is believed
by not a few observers that United
States Steel common will be the leader
of the entire list. A railroad man,
who is watching the situation closely, !
says that he is entirely confident that
some important plans are being worked
out by the st. Paul directors. It is
believed in well-informed circles that
the rumors Of forthcoming extreme
distributions of profits on Northern
Pacific and Great Northern stocks are
well founded.'