St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-09-30

This excessive rise cannot hold out
permanently. When wheat is S1.45 in
! Chicago and S1.13 in Liverpool. 1t is I'M
| natural and short-lived. The whiH up
ward, of course, benefits those who
caught ON at the right time. Still, l
believe the price of wheat has taken a
| certain permanent advance, and that
it will sell high from this time on on
| its merits"
Maj. Horace B; Strait, whose fnan-
cial holdings in st. Paul and the Min
nesota valley make him interested i'll
| the advance, said:
"The price is good, but it catches our
farmers without much spring wheat,
the chinch bugs having got away with
the most of it. But while the crops are
not what they once were, this will
throw needed money into our farming
districts that will insure material adj
vance i'll prosperity. The bottom of
this furry is sound, and it means better
times"
Lew Maxfield. of the wholesale house
OF Maxfield q Seabury, remarked:
"The rise operates against us now,
for wheat is going up and the farmers
won't sell. This, of curse, will check
collections temporarily. When things
settle down and prices become steady,
then the benefit will be reaped by the
farmers and merchants this year. The
increase in price, although there is but
half crop, helps the farmer out more
than better crop at last years prices
would. The whole business means bet
ter times, more money in circulation,
easier collections and nrm rise in real
estate values.
S. B. Foote, of the well known whole
sale boot and shoe house:
IF it had been my practice to Specu-
late while | was liable tie others for
debts, L should have bought wheat
heavily thirty days ago. l said at that
time that wheat was going to 81 a
buShel. Now, the natural result of all
this is, that we are better off than we
were last year, and if the prices hold
fair for a year or two, st. Paul and the
Northwest will grow as they never have
before. Real estate will seek its natural
level, cereals command true value and
prosperity predominant"
OF the effect on the Winona market
Editor Metcalf said:
1.-THE change helps us some, butthere
is not much spring wheat in our cOun-
try, the ehinch bugs having taken most
of it. The farmers are more cautious
as to raising much wheat now"
Capt. Meagher, a Heavy Wisconsin
and Minnesota Wheat Buyer-Thou-
sands and thousands of dollars have been
turned loose in the farming centers by
this rise in wheat. 1t means a general
loosening up in business circles, heavy
holiday trade and good times next
spring.
The wholesalers of St. Paul. repre-
scented by such firms as Allen. Moon &
Co., Lindeke, Warner 81 Schumacher,
YAM, Griggs & Halves, all agree that
the outlook for all industrial and mer-
camille interests is better than it has
. been for long time, and that there is
every prospect of st. Paul making
big jump ahead next spring. AS to
who made money out of the furry it is
hard to say, the reports are so contra
dictory. A list Of fifty clerks, small
merchants and petty dealers could be
named who made on both September
and December wheat from 500 to s., 900.
But gains approaching the hundreds
of thousands are attributed to the Pills
burys and one or two st. Paul parties.
One reported st. Paul deal is Il 81, 900 in
vestment and by which S150,O00 is
alleged tohave been made. There is
feeling prevalent among the brokers
that October wheat will range about
S1.l2 and December $3.50.