St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-12-09
CONDITION OF TRADE.
Prominent Business Men Of New York
City Interviewed,
And They Express the Opinion That the Out
look is Favorable for Better Times.
SPECIAL Telegram to the Globe. |


this city are generally hopeful Of an increase
Of business aud better times, as will be seen
By the following brief interviews;
Mr.. Martin J. COOLEY, Of Bates, Reed &
Cooley, said: ~ have no reason 10 fear sny
serious depression in the dry goods trade,
but. rather expect revival OF business on a
solid basis. Our eolleetlops are good. The
shutting down Of some of the mills will be a
benefit IN the end, for there has, without
doubt, been over production. Prices have
reached rock bottom. After the holidays are
over and jobbers examine their stock with
the view Of settling up for this years bust
ness, look for a healthy and active trade.
/ 10 not expect anything like boom, but 4
steady, sound and safe business that will be
beneficial alike to the producer, wholesale
merchant jobber and retailer.
Mr.. J. II. Weller, Of left & Weller, said ::
Il look for very good business in dry
goods next year providing the country is not
afflicted with cholera. Should the disease
appear as gu epidemic, II will destroy the
business Of this city, for western aud south
ern buyers viii not come to New York, nor
will they risk making purchases BY mail.
In all other respects the business outlook is
good aud, ia a commercial pOint OF view,
very healthy. There has been Overstocking
in the past but this evil Is wearing out
/ Business men are now looking after their
legitimate occupations and deyoting less
thought 10 speculation. This regard as one
Of the best features for the coming year"
Mr.. w. S. Dunn, OF II. B. Clahin & Co.,
] sal 4. 81 have M raaSnu for ms
/ opinion as 10 the prospects Of the dry goods
business for the coming year, although trade
is not what might be called booming II is
in a healthy condition, aud collections are
as good, If not better, than they were last
/ year, especially when the volume of business
is taken into consideration. look for a
general revival in trade after a settlement
for the years accounts, when jobbers viii as
certain how their stocks are"
|! Mr.. n, Millerd, of Millerd Is Co., grocer
les, said: II see no reason why business
should not be good next year. We have
been busy in our special branches aud have
found our customers ready TO settle up ac-
counts as freely as could be expected. There
does not appear to be any overlooking Of
stocks among the general trade, and pur
ehasers are acting continuously, merely buy
ing what they want and feeling certain that
they can pay for the goods purchased"
Mr. Albert T. Whyland, of Thurber, Why
land & Co., said: "We have been busy for
some weeks past,yet, with all this, the purch-
asers are buying carefully aud cautiously.
Customers do not seem inclined to buy more
than they want OF feel able 10 pay for at the
time of settlement. / regard this kind of
trade as very healthy and based on a good
foundation for future transactions. The
collections have been far better than at the
same period Of last year. The prospects OF a
fsir trade for 1885 seem TO be good"
Other houses in the grocery trade were
called upon, and all agreed that prospects Of
steady business for 1885 were good with a
promise that the settlements OF the accounts
for 1884 would far exceed the average of col
lections and establish the stability OF western
firms.
A representative of c. S. Parsons & Son,
Warren street, said: ''Thc boot and shoe
trade since election has been fairly good. A
bright prospect for the coming year seems
| apparent without any very great rush of
business, known by some under the name
OF boom. A livelier trade is being looked
| for"
Mr.. r. q. Brown, OF Brown & Co., dis
tributing agents for Straiton & Storm, said /:
The cigar trade has been dull during the
past year, owing 10 over-production, but
there has been since election a revival of
business which gives promise Of stability"
Mr.. j. w. Layman, OF the Solace Tobacco
| works, said: 81 regard the prospects Of trade
encouraging. ] look not only for a good
business during the coming year, but also a
better statement Of accounts at the close Of
| 1884 than has marked the past six mouths
l do not think that any Of the tobacco job
bers are overstocked, consequently, with the
/ opening Of the new year, there will certainly
be revival OF business, the preliminary ef-
| fleets Of which are even felt now by the gen.
eral trade.n
The operations Of conservative banks are
indiees of prosperity or depression in trade
Mr.. Nathiel Niles, president Of the Trades
mems National bank, said: 'sFrom nv OBJ
seryations there is a prospect Of national
| prosperity, which is being established on q
firm basis, but do not expect it to be at its
height for one or two years. regard the
closingof the mills as beneficial to the
country at large, even II hurtful to those
more nearly interested in their operation.
There is plenty OF money in New York and
little employment for it. New York banks
are doing sound financial business and
cannot afford TO pay more than ~ cent
on bank balances of country
customers, while in New England they are
paying from 21E 10 per cent. There is
very little mercantile paper, such as sound
banks would like 10 take, aiiOat in the CITY,
and capital is therefore lying idle in banks.
Caution has taken the place OF risky specu-
lation, and, with business men attending TO
their Legitimate occupations, we may look for
better times in the future"
Mr.. Ferris, vice president Of the National
bank, OF New York, said: 'sTrade is GER
tainly Improving as viewed from my stand
point and the prospects are bright"
First Arrest in the Brand-Leman Case
CHICAGO, Dee S.-Joseph c. Maekin, sec
Rotary Of the Cook county Democratic central
committee, was arrested this evening on
complaint Of A. NJ. Dsy, secretary of the
citizens committee, which has undertaken
20 uuearth the frauds in the Sixth Legislative
district Of this state, Henry W. Leman and
Rudolph Brand being the Republican and
Democratic candidates respectively. This Is
the case which the federal grand jury has
been investigating. The complaint charges
Mackin with aiding some unknown person
OF persons, about November 81, in substitute