Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-05-28
THE ST. PAUL DAILY GLOBE WEDNESDAY MORNING NAY % 1879
ST. PAUL TRADE.
aETFE 49, a IT, 7 n gTsfts Z
Weekly Revie,y Of the st. Paul Markets.

OFFICE OF THE GLOBE,

OFFICE OF THE GLOBE,
ks s,rES iars PAUL, May ~.
The most notable feature ID fnancial circles
the past week has been the intense desire man
Tested by local operators to SECURE their re-
spectiys quotas Of the fonr pei, cent rebuilding
certifcates the demand for which has been al
together unprecedented. The demand for the
refunding certificates il entirely aetuated on
the part Of the bankers, by motives Of self pro
lection, and originates from the action
Of the. New York syndicate or pool, which has
manipulated thea per cent. ebonds In such a
manner as to- secure the entire issue. Az a
measure 0f self protection the banks are ade-
sirons of securing the &l0suertifcates, which
can beexchahged for bonds, as they arc COM
PEELED to supply the place of the called bonds,
the interest on which expires after uly3. LIST,
the object on the part Of the, National banks
being to furnish security for their circulation,
without which they must 60 without interest.
The original intention OF the government in
issuing forty million dollars in ten dollar re-
funding certificates, was to furnish substitute
for the savings banks, thereby creating . popu-
lar loan, and when it is considered that the
sale of the certificates terminates this week the
eagerness of the banks to obtain the bonds may
be fully realized.
Considered from commercial standpoint
the past week has witnessed a fairly active
movement and while the balance of trade has
y
with previous weeks Of the season, the general
condition of business has been entirely salts
factory.ssA moderately active business has
been witnessed in the leading grain and pro-
duse markets, but with liberal supplies values
have generally continued steady at last weeks
quotations. lsFtia I'D AZ sfas K ,y ~, ig.e r.
Business at the principal grocery houses is
exceedingly active and the wholesale and job
bling firms report a better movement than has
been experienced previously for years.
The hardware trade continues active, with no
notable Developments since last weeks writing.
The demand for all kinds of hardware is good,
and prices are uniformly firm at previous quo
tations. @ssss4s,fgs $3.50
An active week is reported at the leading dry
goods establishments, and while the number
of buyers has materially diminished, the order
trade is better at present than at any previous
ton goods is exceptionally good, while prices
are firm with strong upward tendency, the
impression being that these fabrics will under
go a steady advance, mainly owing to the short
ness of the cotton crop, the raw material in
fact, being much higher, relatively considered,
than the cost of manufactured goods.
An active business has been realized at the
principal drug houses, while prices have gen
orally ruled steady, the only notable exception
being with regard to white lead, which has de-
clined one cent per pound since last weeks
/ writing. rs-
| been fairly active, while no essential change
has taken place in prices.
The demand for leather and findings has been
good, while the movement in hides. fur and
| wool has been limited, no particular change
| being anticipated in the latter departments I'M
| til the summer trade sets in.
A good inquiry has been manifested for
clothing, carpets, hats and caps, millinery, no.
| ti6ns, ETC., no feature being developed to call
more than passing attention or comment.