St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-03-23
Dun's Comprehensive Review.

The present business situation Illus
trates rather forcibly the differences
which may exist between theoretical
and actual results. The business con-
ditions during the early part of the win
ter could hardly be considered fayora-
BILE. The season was too mild for the
hOped-fOr sale of SeaSOnable goods, the
crops i'm both DakOtas had proved vlrtu-
ally failures. and Minnesota farm pro-
ducts, with an exceptionally large yield,
brought low, and, in many cases, un-
satisfactory prices. Notwithstanding
these and other causes which, on nat
ural theories, would operate against
successful results, the fact remains that
the distribution of merchandise from
this center shows no diminntlOn, and
if definite figures could be obtained
sweultis szBrobably show 80 sQme~. .ln-
crease over the corresponding pc
riod of 1889. This result has
been accomplished with no de-
crease in profits and with no expansion
of credits. The solution probably lies
to some extent in the fact that our job
bing trade is less localized. The field
covered in its operations has been grad
ually widened, until it now covers the
territory west to the coast and extends
south and southwest into Iowa, Ne
braska and Kansas. That point has
thus been reached where causes purely
local TO Minnesota or the Dakotas have
less weight than formerly in determin-
ing trade results.
To specialize concerning the present
outlook, it may be said that IN the lines
affected more largely by the seasons
trade is not wholly satisfactory, and no
increase in spring business over last
wear is looked for. In Minnesota and
the Dakotas the winter stocks in mer-
chants hands must be carried over, and
there is a tendency on the part Of both
buyers and shippers to restrict purchases
to absolute necessities. Jobbers In
these lines claim that while sales may
be equal i'm bulk to the same period of
1889, purchases are more largely III
cheaper grades, involving shrinkage in
the amount of transactions. In the
other staple lines the volume OF busi-
ness is thus far something i'll excess OF
last year. Country merchants had
good fall and winter trade, and, In fol-
lowing safer and more conservative
methods, succeeded in getting their col
lectiOns we'll in hand or secured and in
largely increasing the proportion of
cash sales. 1t seems probable that the
expectations for good spring business
i'm these lines will be realized. Collec-
tions in all branches, as rule, have
been satisfactory, the percentage OF
collected accounts to amounts out
standing being fully equal to that OF
any former year.
The winter has been an exceedingly
favorable one for logging operations,
and larger stock of logs has been put
on the banks than In many winters.
These have been secured at minimum
of cost, and as rule the loggers have
probably made more money under their
contracts than in great many previous
years. Should the streams afford a
good driving stage of water the saw
mills will have an unusually large stock
of logs. With this prospect in view
preparations are being made by mill
men for full seasons operations and a
great deal of lumber Will be put on the
market. The production promises to be
i'm excess of the demand from localities
ordinarily supplied by manufacturers
in Minnesota and Wisconsin,, but conf
dence in
The Stability of the Market
is expressed, there being prospect Of
good demand from the East. This
will absorb much of the lumber in the
upper peninsular and in Eastern Wis
conslp, which has heretofore been ship
ping westward. The improved condi-
ton of Southern markets also gives as
surances of less competition in that
quarter.
In the financial situation there is re-
version of the positions usually occu-
pied between Eastern and " eStern
trade centers. The East is suffering at
this time from some stringency, while
the more important Western markets
apparently have more funds than are
demanded. LII this city the demand
for legitimate business purposes re-
mains fully as strong as usual. but the
banks still have in hand more than Suf-
ficient Ioanable funds for all legitimate
business requirements. The tendency
to withdraw from all speculative enter
prlses and the gradual growth OF the
substantial business interests of the
city, will in some measure account for
this condition. There has been no alter
alton in rates, but the fact that our
larger business interests are able to and
do borrow in Eastern markets at less
rates, must eventually diminish local
rates.
There is a general feeling of conf
dence expressed in all trade circles as
to the business outlook, and the cohdl-
tOns in all the territory tributary to
to this center are encouraging except
in the two Dakotas. The condition of
affairs there causes some little uneasi-
ness, but are too well understood to
call for special mention at This time.