The Minneapolis journal., 1906-08-05

MINNEAPOLIS MAN, STUDIED
., FOREIGN MARKETS. ,.-
Grain Exchanges and Bourses of Com
mercial Centers Studied With Refer
ence to American Business-Russia
Grain Promises to Supply Much of
Demand. t' ~

Rollin E. Smith, who has been COW
ering the United Kingdom and conti-
mental Europe, Investigating grain
trade methods abroad and prospects for
American wheat and flour in Europe,
and writing his observations for
I1 The SG J9urna has has, returned urn to to
iPnssP11s last 9snuary His sta Articles ee!s
cred Liverpool, Glasgow, the grain
trade and stock markets in London, the
Paris bourse and the bourses and grain
exchanges of Antwerp, Amsterdam,
Berlin, Vienna, Hamburg and <Buda-
pest; Mr.. Smith also spent some time
Hungarian ports thru which much of
the Danubian wheat finds an outlet.
Visits Russia.
From Budapest Mr.. Smith entered
southern Russia, crossing the Caucasus
a country that, agriculturally speaking,
is not unlike the spring wheat produc-
ing country of the United States, Min
nesota, the Dakotas and Manitoba. With
Odessa the important Black Sea port as
a center, Mr.. Smith carried on investi-
cation as to conditions in southern
Russia.
The interesting features of the vari
GUS markets visited were brought out
in the series of illustrated articles Mr..
Smith sent to the Jour al. The
most important article, and one widely
copied, was that from Marseilles giving
the situation with reference to maca-
roni or durum wheat, OF which Mime
sofa and the Dakotas have produced
big crop this year, and outlining the
possibilities for the sale of it in the
Mediterranean countries, the most I'M
portant markets for 1t.
Situation Not Bad.
Of the situation in Russia and the
probable effect upon the world finance
Of a still farther widening, of the
breach between the powers and the NAL
contents, Mr.. Smith takes more
hopeful view than other travellers lately
returning:
Increased disturbances in Russia be-
cause of the better demand for our
grain that would follow. also for our
manufactured articles. While the hnan' "a
cial world is disturbed over the posi- Die
effect of Russian revolution upon Paris,
Russia S financial backer, mush OF zkhls'
7 think, has already been 5dlsc counted,
and should the worst happen the effect
might be less than anticipated.
Crop Is Nowhere Large,
'I think it safe to say now that nc
European country will have big croL
of wheat, while tho total of rye will
be short. In Russia, the most impor
tant wheat-growing country the pros
poets in June were for magnlhcen,
crop in the southwest and extreme
southern part. Since that time, exces
sive rains have dono much damage. Ii
the eastern part, IN the Volga and Dor
river, country, the. great spring wheat
territory, the crop will be short and II
some places a total failure, owing tt
early drought and extreme heat. The
rye crop Of Russia will be very poo:
one. Considering that the quality o.
our crop is 50 good, European buyer
will no doubt use large amount, bu
probably at their own prices. Russia
as usual, is an uncertain factor, on &C
count Of late damage to the crop b,
rains and the revolutionary aspect. TIL
crop adjacent to the Black sea will b
fair at least, despite damage, and ther
fall, provided strikes do not Interfere
This is owing to the proximity Of tn
grain fields to the export outlets.
British Importers Wait.
"The British importers are takin
this view of it and are therefore cor
tent to wait until after this move
ment is over before they get BULLS
regarding any prospective shortage i
the total crop CT Russia.
"While in London, l asked some o
the big -four importers regarding tn
outlook for American -four. They sal
it was largely a matter Of price an
that if America raised the crop o
wheat that now seems probable, ther
would undoubtedly be good bushes
in hour.'