Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-07-29
COMMERCIAL.

Several Changes In the Local produce
Market - Minnesota Wool Lacking a
Trade OBSERVATION-DISCLOSURES Market
RspOrts-Wheat Steady, Provisions Firm
and the Stock Market Strong, Despite
Large Sales to Realize.
. ST.. PAUL, July 29.
At the banks here money is easy, with the
usual light demand of the midsummer season.
just changing to the harvest-time need of cur
rency for the country which, appearances indi-
cate, will be very large this season. Sterling
exchange is falling under the influence of large
produce exports, and Eastern exchange is in
fair supply. Sterling small bills, Ell and up
wards. sold yesterday at 81. 9O@495, and East
ern exchange at one-quarter per cent premium.
In the produce trade of st. Paul. several
changes of prices were established yesterday.
Hops are selling from store at &c less, and malt
for 10c less. Butter, buyers prices, ranges &c
higher. New potatoes are selling 10c less.
Oats, buyers prices. are 10 higher. Pork is
held about 81 higher. Spring chickens are
bought at sc less per pslr- Hides and wool are
coming in freely, and buyers prices are steady,
uninhuenced by the daily fluctuations of the
tive of permanent change of values. --latest
advices from the East are that manufacturers
are taking domestic woods in small way for
immediate use, while holders are generally dis
posed to wait for the inevitable larger needs of
manufacturers.
Right here is suggested an important work
the St. Paul board eff trade may assist in if
that body becomes an active organization in
GLIDING enough of the public-spirited buyers
and sellers of the city to bring about unity of
action for the common good. Minnesota
grades of -four and wheat are well established,
while the grades of other good products of Mir
nesota are not established and the State loses
thereby. While the board of trade, then, may
help the State at large and promote the com
mercial interests of the city by endeavoring to
obtain for the State the full benefit of its
superior qualities of wheat and -four, it may
also do great deal towards establishing
commercial reputation for other Minnesota
products Minnesota wool, for instance, has
not a fixed commercial reputation, and as a
consequence growers obtain 2@3c per pound
less than their wool is fairly worth, while
Minnesota buyers labor under the disadvsn-
tage of being compelled to accumulate
stocks large enough to induce buyers
for Eastern manufacturers to come on here to
examine and price the wools. At the came
time Minnesota buyers meet sharp competition
from Wisconsin and Ohio buyers, who take the
bulk of the Minnesota crop and sell it in the
East as Wisconsin and Ohio woods. This is a
trade evidence that the Minnesota woods ought
to have good trade reputation. Still better
evidence can be had from the wool in store in
this city and from the knowledge of our most
experienced buyers that Minnesota wool grow
ers are yearly improving and that their product
averages very high in quality, One of these
states that he had to sell his purchases of last
year at 1@2c less than they would
have brought, although Eastern experts came
on to examine his stock, simply
because Minnesota wool lacked the reputation
which would justify placing large lot on an
Eastern market to sell by grade. Our buyers
have done good deal towards improving the
wool product of the State and there are proba-
bly, few growers who could not learn some
thing abou. breeding and keeping of sheep
from examination ofsuch stock of wool as Mr..
Bailey, for instance, has on hand, with such an
experienced wool dealer to point out the trade
diffelenc Our buyers have aloo labored to
make Minnesota woods fairly known as such to
manufacturers; but could do much better in
that direction with unity of action
throughout the commercial community and
with the help of q board of trade holding daily
meetings in Minnesota city for transactions in
Minnesota products. the wool crop of the
State this year exceeds 8 600. GOO pounds, worth,
in round numbers, 81 Geo, 600. There is an
increasingly large annual increase ana we De-
lieve the bulk of this valuable product may be
collected at and sold from st. Paul with direct
cash benefit to the wool growers and indirect
great benefit to the general commerce of st.
Paul. This season probably not more than
one-fifth of the Minnesota crop will be sold in
st. Paul and at least three-ffths of the crop
will go to the manufacturers under the name
of Wisconsin and Ohio woods.
New York dispatch OF last evening says:
ttThe dry uOOds hrciuaSs 10 fair with pok
houses. Brown and colored cottons in steady
demand. Prints doing fairly and the leading
makes we'll sold. Ginghams in good demand
and dress goods more active. Mems wear wool
ems quiet and doeskins reduced to Soc. Flan-
nels in fair request"