The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-11-10
Receipts Light in All Northwest
ern Markets and Also in
Chicago.
Prices Responsive to the Strong
Supply Situation, Tho
Liverpool Easy.
Parker Harding Quoted in Chi
cago on Northwest Milling
Situation.

Minneapolis Chamber of Commerce, Nov. 10.
The posting of only POI cars wheat for to-
days Minneapolis receipts was a sore disap-
spointment to the bears and 1t hardened the
market at once, for year ago today there
were 591 cars received here and the comparison
was such to stop selling and send some of
the shorts to cover. The foreign advices were
not very favorable for Liverpool was only up
sd in response to our strength of yesterday,
but this and other like influences had little
effect. The supply situation here Is acute and
whatever may be the situation elsewhere, either
present Or prospective, it does not change the
existing state of affairs northwest. The line
up Of figures was very bullish. Not only was
Minneapolis short, but in Duluth theer was a
had only 46 against 1871, and Winnipeg 2s3
:, against 473. In Minneapolis alone the differ
ence was 23S cars, in Minneapolis and Duluth
together 256 less, and in Minneapolis,
Duluth and Chicago 4o7 cars less. With Win
nipeg included there We're receipts Of 961 cars
against 1858 a year ago. or 597 cars less and
taken together it was about as bullish a
showing of the kind has appeared since the
new crop movement began and this Is
Nov. TO- and there is still no break in the
situation, which grain men of long experience
say is extraordinary and unlike anything ever
before seen, it Is not surprising that there Is
much nervousness and much speculation and
conflict of opinion as to the outcome
With reference to the speculative aspect OF
the market Milmine sent the following to J. G.
verhoefr: "a good many Of our Chicago bulls
have sold out on the break Of the last two days
and 1t looks now tho things might commence
to climb up again. Our exports keep up well
and while statistics show big lot of wheat
in this country, 1t istoday the cheapest commOdi-
ty we have for sale, and there Is good demand
for 1t. If there were any leaders in this mar
ket prices would think. be higher W. H.
Lake of Chicago is also quoted seeing strength
In the speculative situation.
Minneapolis elevator stocks decreased Us, GIG
bu for the week. which brings the total down to
Ed,976.1s7 blu. For one day since making up the
report there Is standof.
Some of our larger mills have actually been
compelled to shut down because of inability, to
secure desirable wheat at prices enabling them
to compete with the smaller interior and the
southwestern mills said Parker Harding of
Woodworth & Co., Minneapolis In the Chicago
Record Herald 'Under the new rate law the
small mills have transportation facilities equal
to those of the larger mills. they can run much
cheaper, and therefore have big advantage. The
new rate law has certainly distributed the -four
milling trade Of the northwest. I think wheat
Is low enough for the present."
The Commercial West says: ''The mills are
operating only about IS per cent of their capac-
ity and the domestic -four trade Is decidedly
dull. Export business is quite out Of the ques-
tion. except as small lots can occasionally
be worked at prices regardless of profit. The
condition Is not local by any means the mills
thruout the country are running light for this
season. Therefore. the strength of the Min
neapolis market seems based more temporary
conditions than permanent ones. An increase
in receipts would doubtless ease up cash wheat
which would of course be reflected in the De-
cember. And increasing receipts now only
matter of three weeks or So A prominent
commission man said, this week, that his
house had never before had many cars of
wheat in transit And of course. it is an old
story that country elevator stocks of wheat are
greatly in excess of year ago
Zone factor III the small movement of wheat