The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-24
Traders Believe the Worst Was
Seen Today in Only 2O5 Cars
Here Against 702.
On Argument That Things Can
not Possibly Be Any Worse,
They Sell Out.
secretary's Office Finds $4,000
Blu Wheat Not Previously
Known About.

Minneapolis Chamber of Commerce, Nov. "a
Not since the light fall movement started and
the long succession Of bulsh daily comparisons
began has there been anything so bullsh in
: wheat as appeared this morning. Only $50 cars
were In Minneapolis against 702 year ago
s In other centers receipts were under year
ago. The market in view Of this, was most
contrary. 1t halted and hesitated, sold off
small fraction and held for the hrst hour Of
trading about onsparity with yesterdays close.
Probably the reason for the early Indifference
was the belief that the limit had been reached.
1t Is indeed hard to believe that the situation
can get any worse unless the railroads stop haul
ing grain altogether. Certainly showing any
worse than that of today was never seen except
at times when storms or other temporary causes
operated. That things can get any worse seems
almost unbelievable, and probably a good many
felt that way and held aloof. Another thing
calculated to tone down enthusiasm on the buy
ing side was the insertion by the secretarys
office Of $40, 076 Blu in the weekly report. This
was "a great surprise. Stocks in Minneapolis
elevators last week were ,911 ,311, and the total
had been coming down week after week by
steady decreases. This week there another
decrease of 6o.25s Blu, which would bring the
total down to 1851, 05S. This was all right, and
the table posted seemed entirely regular, but
wheat not included in the total aud marked
transfer wheat not included in totals.' This
would make the stocks ,, 494, 134. In an ordt-
nary time $4,000 bu wheat more or less is not
much for Minneapolis Satisfactorily but at this
time it means something. Explanations were
Forthcoming either side. The bears claimed
that stocks all along have been unfairly posted,
for this transfer wheat or much of 1t, has
been there for some time and so there has really
been considerable wheat available than
supposed and Minneapolis has not been so close
to famine as led to believe. The
bulls had their explanation. 1t that the
transfer wheat was winter wheat bought by
q local milling company, and there was said to
be 1900, 900 bu of it in all, some being still In
transit from the southwest. Upon arrival here,
1t is said the millers found it could not be
used, as it was too poor, and 30 it was sent
to elevators for storage. Consequently If such
Is the case. 1t is a bullsh showing, for If the
winter wheat is too poor to use Of course it
means much more demand for spring wheat
This. upon close inquiry failed in verifcation.
From reliable source comes the information
that the wheat will all be ground, that there is
question to quality and price, but
doubt at all that the wheat will shortly be
ground by the mills.
Duluth got 224 cars against 242, Chicago %
against 1O2, Winnipeg 211 against 1854, Kansas
City received 100000 bu against liz, 900 and
st. Louis $4,000 against $4,000.
Primary receipts, 100000 bu against 1,467, 900
blu. Clearances. 243,O00 bu.
Liverpool cabled: wheat was quiet at the
opening, with values unchanged. There
some disposition to support owing to the
city and frnness of La Plata offerings, but dur
ing the trading there was some realizing which
checked the advance. Trading extremely
were unchanged from the previous day In
corn there a firm tone to the market at
the opening, altho values unchanged. Later
there was an advance Of b@Ad owing to a
better spot demand and some disposition on the
part of to cover