Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-10-22
ST. PAUL TRADE.
Weekly Revte,U of the st. Paul Markets.
OFFICE OF THE GLOBE,
ar pAm, Oct 81 1870

"ooNty hCVttU " CJte OIs EUuG lMUTEeLSs
OFFICE OF THE GLOBE,
ST.. PAUL. Oct. 81, 1879.
A notable characteristic of the movement
| throughout the past week has been the in
| creased activity and strong upward tendency
of the grain markets.. The receipts of wheat
in st. Paul have been larger than for the week
preceding, and the demand has been such as to
readily absorb all offerings. The threadbare
adase, so frequently repeated, that competition
is the life of trade, has been abundantly veri-
fed as witnessed by the brisk inquiry de-
veloped between millers and shippers, whose
eager desire for choice lots of cash wheat has
made any attempts to establish an exact rate
of prices impossible.
The upward tendency of the market and the
reasons conducting thereto have been fully ad-
verified to in previous issues of the weekly
GLOBE, and recent developments have borne out
few weeks since regarding the normal or per-
fectly natural character of the movement. As
previously intimated the solution is easily
found by reference to the simple law of supply
| and demand. Advices from the seaboard and
intermediate points indicate that the move
nent on export; account is already large aud
the demand from foreign quar-
tiers is steadily on the increase.
In this connection the fact must not be
sighted, that first and foremost, the bugbear
| of overproduction, while it has overshadowed
American enterprise for more than the last de-
cade, is now thing of the past.
Throughout the United States manufacture
| ing interests have never been in a more -four
ishing condition than to-day, and the lamenta-
BILE fact of cverproduction has been superseded
By an actual scarcity of raw material, which
means that American thrift and industry is
recognized the world over and that her re-
| sources are not alone absorbed by home con-
| sumers.
With average, but not large crops, unpar-
| rallelled business prosperity at home, moderate
crops abroad and a good export demand, the
huctuating tendency of the markets, general
| advance aud upward character of values will
| be appreciated by every thinking reader, The
| receipts of corn and oats have been light and
with an active inquiry values have ruled firm
| and higher.
The provision market has been active and
values continue to rule firm with prospects of
| an immediate advance.
Business at the jobbing and wholesale
houses continues exceedingly active, and, the
| volume of fall trade is far in excess of any
previous year. The number of buyers has
been limited, and the bulk of business is on
order account, which is exceedingly heavy
The grocery trade has been good, with gen
eral and very material advance in all the lead
ing staples, as observed in the revised quota
tions. Business at the leading dry goods
houses is active, and compared with previous
weeks of the season, values have ruled steady.
The drug trade is reported as satisfactory, with
several notable changes in values which are
firm and higher.
The hardware trade continues active and q
leading complaint is q scarcity Of goods, which
has been noted 1t length in previous issues OF
| the GLoBI.
The demand for boots and shoes, leather and
findings has been active and prices for the lat
ter have continued very firm at last weeks
quotations. The supply of leather is reported
az light and the Eastern market has been
thoroughly demoralized.