Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-04-25
CASH AND COMMERCE.

The stock Market S,rong-Wheat and Pro-
visions Recovering from the Late De-
cline-Treasury Officials Suspected of
Connection with Wall Street Spectators
The Drain of Money from New York
for Railways and Mines-Native Wines
Exported-Local Notes and TelegrAphto
! REPORTS -, 4
At banks and wholesale houses in st. Paul,
the course of money and trade indicates that
this is the seeding time of the year, when there
is least movement of both goods and money
And except that there is still q considerable
demand from the North for coarse grains and
| feed, the produce houses have little to do be-
vond supplying the city demand Our quota
tions of seeds, as revised for to-day, are en-
! dorsed by all the houses in that line or trade
! Eggs are quite firmly held without quotaole
| change of value, with the export and packing
| demand sufficient to prevent large accumula-
! lions. The retail market is we'll supplied with
ali reasonable goods, and dealers are obtaining
satisfactory prices.
New York dispatch of last evening says:
THE condition of the dry goods market IS sub
stsntially unchanged. Business continues
quiet WITH com AouSOSs OOO 9NoSN' 49,
So we'll ia hand prices are steadily maintained
on all leading makes of goods. Cotton goods
Quiet but steady. Prints in light demand.
Mems wear wooIens quiet and hrm. fOrelgn
goods in steady but moderate request.
wall I& Bigelow's st. Paul circular OF last
evening reviews the wheat and provision TRADE
uf the week as follows: Wheat closes steady
after = week of violent and wide fluctuations.
Cbicapo shows an advance from the lowest
point to the close of to-day of 915c on May
wheat, The lowest wheat sold IN Chicago was
L1O6l6 Nav, 1887 June aud 9919 July; the high
est. Il6 May, lll$l June and 1851 July. Inc
Milwaukee wheat market shows an advance
from the lowest point to the close OF to-day OF
lOl5c on MAY wheat. The lowest wheat sold
was 1929 MAY and 1925 June; the highest,
lI4s{ May and 1929 June. Foreign markets
are steadier, showing an improvement all
around. The New York market for the week
was unsettled and speculative but higher, red
winter showing an advance of about 453c: Ex-
ports from all seapOrts for the week, 2,6OO,CUO
bushels. Provisions have ruled steady and
firm the entire week. Pork shows an
advance from the lowest to closing
prices of to-day of about 45c per Dbl. Lard
shows an advance for the week from
the lowest point of 35c. per 1000 lbs. Long
ribs close steady. Short ribs have advanced
Csc. per 1000 lbs, closing steady. Corn
closes steady after lively week, showing an
advance from LQ0 1OWCoO EOlAAO VI ~NOOS 49,
Oats steady, and lie. up from the lowest
plice."
Commercial Journals of New York complain
that the treasury department varies Its pur-
chases of bonds for the sinking fund from
week to week, from one and half to five mil
lions, without warning to the public. This
fuctuatior" the World says, ''interferes with
business calculations, and discredits the man
agement of the treasury, to say nothing OF oc-
casioning confident rumors as to the connection
between spectators and high treasury officials.
If the present imperfect plan of weekly pur-
chases is to be kept up, it is desirable that pub
lie notice should be given in advance OF the
amounts which the treasury wishes to buy, and
that the reasons for any considerable variation
from week to week should be fully explained.
At present the materials for forming an opinion
as to the probable action of the treasury are
not sufficient.
In speaking of the prospects of the money
market. the New York Tribune says edltorlally
that gradual reduction of prices to a more
moderate range, and the return OF currency
from the interior, will work together to make
the money market more easy, but the fact can
not be overlooked that very large advances OF
capital from that city have been and are de-
manded for the building and extension OF rail-
roads and for the development OF mines. Sew
eral banking houses have in charge large
amounts of bonds which they are preparing to
place upon the market as soon as the situation
is more favorable, and the success of these and
other similar financial operations may have an
important effect upon the condition of the
money market and of business next fall.
TrGfton's IN. W Circular hits the nail on
the head with the following hammering refer
ence to the course of our produce markets
during the past six months: 'Fhese wild spec
ulations are the curse of the country; they en-
courage extravaganza in almost every form,
and as matter of course, one extreme follows
another. After most men have made money
fast their superficial character ID speedily de-
veloped 1t is really amusing to see the airs
they put on, arrogating TO themselves superior
ability and great shrewdness-their vanity Is
intimated. These ''booms'' are the stumbling
blocks to healthy trade throughout the eoun-
try, and are to be opposed by conservative
business men continually"
California wine is now exported In consider
able quantities to Europe, though it is but few
years since that the foreign trade would have
nothing to do with it. They said 1t was
''earthy," alcoholic" ''bodyless Lacked bo-
uuet" and was in various other ways quite an
undesirable article. The tables unquestionably
are now turning. The San Francisco Stock Re
port SAYS that even the London clubs, represent
ing the bon vivants of England, have recently
ordered a shipment of wine from that State,
and that English agents have cleared the cellars
of several wine counties of the best grades OF
table wines. The barge Stella, with California
wines for various German ports, lies at her dock,
loaded to the guunels nearly, and will sail in
day or two. The Report thinks lit will be cur
ious to watch the progress of this wine" and
asks: Would it not be amusing to know in
year from now, that that poor, much abused
wine was being drunk in New York and London,
yea, even in San Francisco, out of bottles with
French and German labels, and at prices which
would astound the present shippers"