Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-29
FINANCE & COMMERCE.

ST.. PAUL, Nov. %, 1882.
The mar ket during the past week, not
withstanding the war on rates by the rail-
roads has been, generally speaking, in
very satisfactory condition. Business has
been good. collections reasonably fair and
money no more stringent than it was last
week. The difficulty among the railroads
as to the cut on freight rates has thus far,
been no disadvantage to the business men
of ST. Paul. 1t was expected that the low
rates would take the trade all to
Chicago, but 1t seems, that
more than enough new business
has come to ST. Paul from points along
the lines of the roads to which cuts have
been made, to balance up the difference.
So that so far, in business point of view,
the dealers of this city have really been
the gamers. 1t is altogether too early.
however. to determine conclusively what
the final result will be. Railroads do lot
generally allow the dollars to slip through
their fingers without leaving something
behind by way of toll, and there is no
ground for believing that the railroad
managers engaged in this gigantic
and expensive warfare will furnish any
exception to the rule. When the roads
have settled up their difficulties, and re-
stored the right side of their cash balances,
when the additional freights have been
knocked of, and the recouping process is
ended, it will be suitable time for the
st. Paul dealer to balauce up and see what
the sum total of the whole business
amounts to. It viii be surprise if they
do not find that the railroad war
has been loss and serious
detriment to them. In dry goods
there has not been any change since last
week of special moment, and quotations
are unchanged. Groceries are always ac-
tive. The only changes of much account
are are made lin wooden ware, which has
declined little all the way through. In
hardware better trade is reported for the
week. Drugs, paints and oils have i'm
proved some. Alum, aqua amonia, bal
sam cop, cream tartar, lard oil, hemp
seed, iodine, nitrate of silver, and oil of
lemon have declined. Lumber is active
and prices are firm at present
quotations. Finished iron, leather,
boots and shoes are without
change and prices are steady.
The stringency in the money market
that has prevaile for the last six weeks
still continues IL modified form. The
money market is always more or less
stringent at this season of the year. It is
of longer continuance and more severe,
however, this year than ever before. The
reason for this is partly owing to the fact
that the crors have not moved to market
as rapidly as they were expected to, but
principally that we have not banking
capital enough in St. Paul to transact the
immense wholesale ira ie that has accumu-
lated upon our dealers hands within a
very recent period. So much capital has
gone into tie immense business blocks
that 81 ortage OF capital is felt all along
the line. This added to the failure to OBJ
tain returns from the moving of the crops
serves to keep the market in an exceeding
ly uncomfo' table condition. The long and
short of the whole matter is that the in
crease OF banking capital has not kept
pace with the increase of business.