The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1884-04-10
FINANCIAL AND COMMERCIAL
The Financial Situation

| One of the problems of trade is the Commercial
traveller" Very few of our wholesale houses meet
their customers face to face. The benefit of per-
sonal acquaintance and inspection is lost and the
credit is largely shaped by the man on the road,
whose opinion is warped to greater or less degree
by his desire to sell goods.
We are aware thai it is argued that "they all do
1t, and that if man is to sit still in his counting
room and await his customer, he would die of dry
rot. But we cannot help thinking that our mer-
chants are losing and more every year by this
pernicious practice of selling through agents rather
than directly. On the other hand it is argued that
by the frequent visitation of the salesman better
insight into the actual condition of customers
trade is gained. This has some weight it is admit
ted but we think that few partners in strong hous
es will part with their own Judgment, and accept
That OF clerk as conclusive Furthermore the sys-
TEN is expensive; it is demoralizing to the runner
and in our opinion is hazardous in all ways,
The tendency of many wholesale houses is toward
excessive credits and a much greater business than
the capital will warrant Larger risks are taken
than are prudent and as a consequence high pres
sure and dangerous career is fastened upon the
house. 1t is serious question what to DO with the
problem. Probably the evil will continue and DOS
sibly increase until the next general commercial
disaster when more conservative and respectable
ways will succeed. 7F's-9
If any one can find any comfort in the past weeks
performances we are glad. Prices have steadily
been sinking save little rise for one day. and the
prospect for anything better is not encouraging.
To be sure the nearer nothing thing GETS the bet
ter the chance to buy it if it has any value. Six
months ago we thought that prices were too high,
and from today's outlook the same conclusion is
shared by many. The decrease of specie reserve in
New York is bad symptom; week after W eek the
outflow goes on; money short call is still at the
lowest point for years, while business paper has
been marked up a little. This shows distrust and
uncertainty. The strong bonds very high; and
good dividend paying securities all very high in
their respective localities.
The news reached us that an increased acreage in
wheat is promised for this year in India When it
is remembered that wheat can be raised in India for
20 cents bushel it does not promise well for our
western interests. The wise will SOW other crops.
-
Review of Portland Wholesale Market.
FOR THE WEEK ENDING April 9.
For the week under review we notice several i'm
portant changes in the wholesale market, and the
improvement in number Of departments Tmen-
toned in reported last week has been maintained
but the same cautious feeling which has governed
movements since the opening of the year still re-
mains. In the North and East the weather has
peeH 4ulVe anu spring CraQo cOnbln-
ues backward. The gradual shrinkage of values of
many leading articles tends to keep buyers off, and
it is not reasonable to expect restoration of conf
dence until there is more stability in the markets.
During the week there has been sharp decline in
grain and hog products, but today the situation
looks little better. Dry Goods have been rather
quiet and We have no improvement to note. Cotton
Goods are firmer and on some lines prices have
gained considerable strength In Leather the mar
ket continues very strong and with good jobbing
trade demand and our quotations show a further
rise; dealers have fair stock hand, and We are
very confident that the advance will be maintained,
although they are not stocking up to any extent.
The movement in boots and shoes is more animal
ed and higher prices have been established the
former having bean put up to to 10c per pair and
the latter $3.50 per case. There is special &C.
tivity to record in arprices extremely low,
but buyers are very cautious and take only just
enough for current wants. In Drugs &C., there
have been no changes of any consequences; prices
are steady and the demand for articles under this
head is good.