Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-01
FINANCIAL & COMMERCIAL.
ST., PAUL, Nov. l, 1882.

ST. PAUL, Nov. 1, 1882.
In general way it may be said that the
markets have shown a decided improve
ment during the past week. In one or two
departments during the week before bus
ness. for some reason not even yet under
stood or given, trade dropped OF to such a
degree that dealers set themselves to work
to learn the reason. They were not sue
cessful at all. and now that business has
been restored they do not trouble them
selves any further about the matter. The
fact that wheat is beginning to move is
having most excellent effect in limbering
up the machinery of all mercantile affairs.
During the week under review it has come
forward quite actively, and in some local
tiles it has come forward in an avalanche.
If it continues to move at this rate, as it
now promises to do. it will not be long be-
fore the money market will be i'll a
very different condition from what it has
been in for the last few weeks. In
drugs, oils and paints, there has been a
little stacking up of business. This de-
partment is usually very active the year
around, but for some reason there was a
little easing up during the week. The
changes in this line are very few, and will
be found in the table below. Lumber is
as active as ever, and the continued de-
mand keeps prices up. Boots and shoes
and leather are steady, regular and with
out change as to quotation. Dry goods are
very active but prices are somewhat
unsettled in the East and collections are
a little slow. Hardware has recovered
from the dull streak that came over it last
week and is now very active, and dealers
having all they can do to fill the orders re-
ceived. There are no changes of conse-
cuence to note in the quotations. The
stock of nails and sheet iron is very light
and ready supply cannot be obtained,
Notwithstanding the mills are all running
again. Orders are received every day for
nails that cannot be filled. Business is
improving while collections are growing
better every day. Hops are higher and
have advanced from TIC to 92c@$1. This
advance is caused by the failure of the
crop throughout the world. English buy
ers are in the United States buying up all
they can get regardless of the price. At
no time, not even during the war,
have prices been so high as they are
now. Yesterday prominent dealer shipped
a lot to fill an order at 75c that he cannot
replace at less than 92c@$1. There is now
and has been during the week considerable
tho rorndnoo 6oo1orc nd
commission men in filling orders for the
upper country, out on the Northern Pacific,
at Billings and beyond,and also all through
the DEVILS lake country and even beyond,
at the forts. Shipments have also been
considerably hurried up in that direction
by the consideration that the rates of
freight would be increased after to-day.
The wholesale grocery market has been
very active. Changes in quotations how
ever are few and unimportant.
The principal features noticeable in the
money market for the week are a more
active movement of wheat and a conse-
quent material increase in the supply of
Eastern exchange. Exchange between
banks is selling below par, and the de-
mand for currency is such that there will
be no change in the rate for scme weeks
to come. The banks are
still pursuing conservative course as to
the extension of their discount lines and
almost Invariably refuse all applicants for
accommodation favors. Regular custom
ers offering good paper are recognized.
Counter business shows some increase over
the previous weeks. Collections are some
what better and the aspect of the market
is generally more favorable and healthier
tone pervades the same than for several
weeks. The closeness of the money mar
ket incident to the movement of the crops
has been somewhat relieved by the returns
received from shipments, and the present
very active movement promises an easy
money market for the immediate future.