The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1906-03-21
Estimates Vary Widely-Better
Cash Demand and Firmer
Prices.
Winnipeg May Wheat on Parity
with Minneapolis, a Most
Unusual Thing.
Subsistence of the Manipulation
Talk in Chicago-News
of the Day.

March 21.-Estimates OF northwest lnte'
rior elevator stocks were numerous ths
morning. Late. yesterday WATSON
summary of railroad reports of wheat
in country elevators was given out and
the quantity put at Il, 100000 bu March
/. # is estimated that 2,OOO,OOO Du
have been shipped this month, Wnen
would leave the stock March 10 at r. r.
200, 900 bu, but there is added 2,ooo,VOo
as the quantity in transit, making 49,
900 900 bu for the March Is total, which
is the largest ever known at this time
of the year. The estimate of the coun-
try elevator stocks in the Canadian
northwest is 100000 blu, some OF
which will begin to move next week
Many think this report too high, ana,
indeed, some allowance must pc mace
for the natural tendency of the rail-
disposition of observers reporting to
railroad quarters to see big tonnage
back and continued good business.
Whallon estimates the country eleva-
for stocks at 100000 bu, and says that
total is, if anything, too high rather
than too low. This matter OF country
elevator stock is necessarily rather IN
definite. The Chamber of Commerce for
merly issued a monthly report, but, as 1t
was impossible to reach all sources of In
formation, and the best efforts of the
secretary's office failed to make the
bulletins entirely comprehensive, TINS TINS
was discontinued. Whallon's l0,Ooo,ooO
figures emanating thru Watson, are
considered high by some. 1T IS posi-
BILE to find men on the floor in the cash
trade who have given the matter atten-
ton for a month past, who believe the
stocks are moderate. Arthur Smith OF
the Barnum comP Pany puts 1t f Mon
10 hIy q
enough estimate, and Charles A. Eaton
SAYS 100000 bu is high enough. Sec
retary Rogers never could get in all
the smaller houses, and on a compare
tive basis, with the same houses COW
cred as Rogers used to include, stocks
would be still lower--probably only
100000 to 100000 bu. These men
do not pretend to be estimators, but
they handle good lots of cash wheat
and know where it comes from. and
their figures, while not necessarily cor
rect, are worth as much consideration
as the others. On the other hand, such
thoroly reliable old-timers and well-in
formed men as P. B. Smith and G. NJ
Amsden. while making no definite
statements, are inclined to believe
stocks are large and not overestimated
very much. tho Mr.. Smith. who fig
urel that there was well over $4,000, OOC
bu in country houses, before his depar
ture for the orient some weeks ago
would probably modify his statement
somewhat were he here today, in view
of the movement since then.
Four days increase in Minneapolis
stocks totaled 225,O00 bushels. Receipts
here today ran to 239 cars compared
with 1874, Chicago getting > against It
and Duluth 81 against 10. Winnipeg
received 81 against 81, Kansas CITY, -,
900 bushels against 10000 and St. Louis
$4,000 compared with $4,000. Primary
receipts were $4,000 bushels against
$4,000.
Good trade in corn had some effec
upon wheat. In the Chicago pit, Mar
field of Minneapolis bought 100000
May corn.
sold at 1ac over May and at 34c owe
for choice, and No. northern at 1c t.
1ac under, while some very choice No
2, was taken at May price. Lighte
receipts in Winnipeg put that marke
into better shape, and Winnipeg Jul
wheat sold higher than Chicago July
while Winnipeg May and Minneapoli
were together at 1880. Winnipeg an
MINNEAPOLIS on parity is thing no
seen before since Winnipeg trading i
futures began. Piper s wire from Wiz
nipeg attributed this to demand fo
Canadian wheat, now lying at the sea
board, at prices equal to interior ma
kets Indicating healthier demand and n
Immediate necessity for fprcing tn
wheat forward at low prices. R. !
Robin, who was here on Monday, toll
the Chicago newspapermen that ives
ern Canada will this year increase il
acreage 25 per cent, and that $4,000
new people will 20 in. This is chara
teristic of Mr.. Robin, and in line wit
his well-known optimism, often e:
pressed in Minneapolis. 1t may be
to recall the fact that western Cana6
is the wheat producer that is to mal
s. the prices in seasons ahead.
Nothing more has been heard fro
the Hot Springs crowd, Lewis, Gate
Patten or the others Presumably the
are doing nothing and waiting for Il
market to shape itself. Talk of mani
ulation in Chicago also fell off litt]