Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-04-08
CASH AND COMMERCE.

A Monoton0usly Cheerful Outlook at 81
Paul-Increasing Movement of Coarse
| Grains observation-disclosures Values-Dry
GOods-Increasing Iron ImportatiOns and
Increasing Product-The Weak Wheat
Markets on Lake Michigan.
ST. PAUL, April 7.
| The condition OF the st. Paul money market and
bank quotations remains monotonously cheerful.
Money easy; the official rates for exchange, u pei
cent. premium for Eastern and $3.50 for sterling
small bills; and government bonds selling at New
York figures of the day and buying at A0h per
| cent of. are the daily answers to all inquirers.
Merchants are beginning to discount spring bills,
and that is likely to be the principal business at the
| banks for tae next few weeks.
In dry goods, groceries and other leading lines OF
Wholesale trade there is nothing of local occurrence
| to note to-day In the st. Paul produce trade the
only notable feature yesterday was the increasing
movement OF coarse grains and feed will prices In
ereasingy firm. The shipments are by the ST. Z. q
NJ. and N. p railroads, and if continued through
the week in the same proportion will materially re-
duce stocks
It il understood that the reduction of freight rates
from Chicago eastward on the 18th will be on the
basis CT sc on fourth class and loo on dour.
The New York Financial Chronicle, attr1outing
the advance in wheat which took place last fall and
through the first two winter months mainly TO specu-
laon considers that the late decline is from natural
| causes-speculaion having checked exports and
wheat crop reports are favorabe-but nevertheless
it argues from the present conditions of supply and
demand in England that the decline of pRces cannot
be runous and that all our surplus san proDaply De
sold at fair prices.
A New York telegram of last evening says "The
dry goods market continues quiet and steady. Cot
ton goods in light demand at first hands, but STOCKS
small that package prices are firmly maintained
on all leading makes of goods. Prints dull and
steady. Gmghams moving freely, and printed lawns
and piques in fair request. Mems wear wooens
quiet and firm. Foreign goods are less active"
The dry goods imports at New York for March,
for the first three months of this year and for the
first nine months of the fiscal year, show an e1traor-
binary increase compared with the corresponding
months Of the preceding year. The total dry goods
imports for March S12 1885, $780, against 1888 S92
for the time last year, S7075 64S in 1878, snd
1919 in 1877 For the three months OF the year
the total dry goods imports are SOS against
S27l906T4 for the same time last year, IT'S
for 1878, and S27, $780, 94 for 1871 For the nine
months Of the fiscal year the total dry goods impor-
tations at New York SS7 against S64
648 compared with the same time last year, and S62,-
423 1888 for the same time in 1873 The total of dry
goods thrown on the market for the month Is S42,-
1872 less than the imports but for the three months is
SOL ,9l1 in excess of importatons.
The Iron Age represents that the amount OF for
eign bar iron the New York market is steadily in
creasing and holders are making good deal OF
effort to sell. 1t thinks that continued importat1ons
can only result in ACKNOWLEDGEMENTS is, break
in prices The receipts of raw iron at Pittsburgh for
the first three months of four years compare as fol-
lows: 1877, IA 100 tons 1878, 1856 tons; 1879,
17S $50 tons 1880, 1866 tons. That is to say the
product of the Pittsburgh district has nearly doubled
in four years. and if present values maintained
there must be corresponding increase OF consump-
ton.
Lake Michigan wheat markets ruled sickly yester-
day and closed weak at decline from the previous
day on futures. The New York and English mar
kets were dull, with declining tendency, and in
New York shippers appear to be waiting for lower
figures there higher figures the other side. The
speculative demand for provisions at Chicago was
appeared to be expended on corn and OATS for both
Of which values were frmer and steady.