St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-01-10
AN UPWARD BOUND.
Bright Prospects Continue to
Be Reported by All Lines
Of Trade.
Railway Magnates Contem-
plating Big Extensions Of
Their Roads.
Railroad Stocks Never More
Stronger or So Good An
Investment.
Breezy Interviews With Bust
ness Men Giving the Ex-
act Situation.

will attract much attention during the
coming season. The present satisfac-
tory situation regarding earnings in this
EMBARRASSING section will surely en-
courage construction. The profits
in railroad securities during
the past Two weeks indicate
the intrinsic value of such coilaterals
and the strong stock markets have
aroused renewed confidence in the
shares. This has been the most pros
porous season the Union has had for
years. In the near future many people
will wonder why they found fault with
the business situation, and yet. within
the past six months, there have been
times when heavy holders of securities
Quaked with the fear of financial dis
turbanceS that might have made them
poor. The contrast between now and
then is both striking and surprising.
Six months, and less, ago railway stocks
laid almost dormant, mostly in the
hands OF railway men. 1t was difficult
TO 1nfuSe life or vigOr into the stock
markets, and the brokers' occupation
well nigh gone. During the past week
there nave been sales of over half a
million shares per day in New York,
and the greatly improved prices have
sharpened the spirit of business to such
an extent that million shares a day
Will soon not be a surprise. Such activ-
lty encourages railway managers to fur
Their extensions OF their lines and to the
building of new roads. When the pub
lie bears a good share of the work of
holding stocks new railway projects and
general improvements are natural re-
suits. Toward the close of the week an
Inciptent Bear Movement
was felt lnathe stock market, but its eff
feet can be judged from the following
comment by the New York Evening
Post Friday evening:
Not being built upon the sand this mar
ket endured the strain of such an episode
and rallied from it. The market has been
hnneycombed with stop orders in the stocks
referred to. and the bear raiders captured the
greater part of them yesterday. But they
caught very few in the standard stocks, and
this morning the market began to move again
III the directions where its real strength lies.
Prominent among the new roads
planned for this section and which will
lay considerable track this year are the
Duluth q Winnipeg, Winona & South
western, and Duluth, Red Wing d
Southern lines. The Great Northern
will continue its extensive construction.
The Northern Pacific has perfected
branches. is doing good deal of new
work and will increase its scope.
The Montana Central, the Burling-
ton and other Northwestern roads will
reach into new Northwestern territory,
and as the agricultural prosperity in
creaSeS the farmers again find the rail-
roads more welcome, The fact must
not be lost sight of, that good crops
brought about this prosperity and pleas
ing prospects. The comforting balm of
comparative affiuence makes men over
look the past and take new
Courage for the Future.
The abundance of grain this year in
the United States has caused the bear
ish views on grain prices that have
appeared so often in these columns, and
but little hope of sharp advance can be
offered at present. The combined prod
uctS of the farmers make such all enor-
nous aggregate that manipulation on
the bull side of the wheat market con-
tinues to be decidedly risky. The gov.
eminent crop report for the year lust
closed far exceeds all previously pub
iished estimates of the Yields of wheat
and other grain.
A source OF future wealth to this sec
ton will be the immigration during the
coming year. Railroad men appear to
be in peculiar position on the question
as to where the new settlers are likely to
locate. Should they advise in favor of
one section, another section would OBJ
ject. Should our transcontinental lines
favor Idaho, then Dakota might
as though the railway men
are depending upon each district to
print its own statements, tell Its own
peculiar features and laud its own
special advantages. The railroads will,
most likely, do AL they can toward dis
tributing such information among those
Eastern people who are likely to be-
come settlers somewhere in the West.
1t behooveS Minnesota to look into
this question and present her grand and
varied advantages in the most attract
i've manner. Then Ethe settler with
mind made up to come here will buy
his ticket without having to seek ad-
vice from the railroad man as to which
is the beSt-MinnesOta, Wisconsin, the
Dakotas, Idaho, Montana or Washing
ton. There is one thing certain. that
the competition for settlers by the Pacific
coast states will not be as sharp as it
has been.
The st. Paul merchants are making
preparations for the greatest business
ever known here. They are imbued
with the snap and energy that grew
out of
Their Past Successes.
They are young, ambitious, strong,
experienced and well equipped, men
tally, physically and financially. They
and their ability make rivals won
der where they were schooled.
The school of active business
experience has brought them
the victory and they can crown their
efforts now with the further develop
ment in home industry and in their sew
eral lines of trade.
Mercantile men, in speaking of the
trade situation, lay great stress upon
the fact that it Is in this inter-North-
west that the greatest benefits have
been secured from the grain crops, and
that here the most flattering business
prospects exist. Trade has been some
what quieter since the holidays, but not
to such an extent as many had expected.
Collections are fair to very good and
money Is easy for legitimate demands.
The Railway Age says:
The new year opens with very encouraging
prospects for business in this country. The
railways, as result of increased earnings,
have begun to make long-needed purchases
of rolling stock and material, and the car and
locomotive shops and the manufactures of
all lines of railway supplies are finding orders
coming IN rapidly. While the mileage of new
track actually laid during the past year
was comparatively small, the number of new
roads under way or proposed Is large, and if
financial conditions continue as favorable as
they now seem the disbursements for new
construction In 1892 will be very important
element in the industrial activity of the year.
Manufacturers, merchants, contractors and
all who look for employment have reason for
hopefulness at the outlook for the coming
year.
Lumber sales have been large and at
steady prices. Live stock firm, with
hogs advanced 10@15c per 100 lbs. dur
ing the week. Iron products steady to
strong, although the production has in
creased.
Financial Standing.
r. M. Newport, r. NJ. Newport & Son,
investment bankers:
The financial situation in the Twin Cities
IT, O11~ ~lA,,