St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-12-04
A More Hopeful Future Never
Faced the Great North
west Section,
What May Be Expected When
Present Manufactures
Get in Motion.
Leading Merchants and Bank
erS Voice the Sections
Hopeful View.
Nothing but the Wheat Block
AIDE in the Way OF Big
Business.

of trade. Prolific in products, its gran
aries are full to overlooking. A system
of diversified farming and stock grow
ing has accompanied the developme Mt
of the past seven years so that the farm
ers are not entirely dependent on wheat
for their revenues. Collections show
some Improvement, and The volume OF
trade is excellent The country banks
of the Northwest were we'll supplied
with money at harvest time, more so
than ever before. and they have been
able to assist materially in carrying the
wheat crop. This has Offset somewhat
the restricted condition of Eastern mar
kets and of the falling OFF Of the eX-
ports of wheat. The banks of the cities
have money enough for all legitimate
business, and there is plenty of money
i'm the East. The shipments Of gold to
Europe. that were exceptional for THIS
time of the year, have caused only this
"a slight surprise to those who eX-
pectpd only the regular order of
finances. The stock OF gold and the
production Of that metal in the United
States make volume nearly three
times as great as The entire amount OF
gold that was IN America in 1879, when
this country resumed specie payments.
The death of the noted Wizard OF
Wall street caused no disruption IN
either the money or share markets of
this country. Concerning the faith OF
Eastern men in Northwestern finances,
Col. X. NJ. Newport, one OF the best
posted mortgage loan investors here,
declares that it is bOundleSs. He said:
Il have letters now from first-clasS
Eastern parties seeking opportunities to
invest large amounts OF capital out
here for private clients. | can not
change my previously expressed view
that the Northwest is in highly pros
porous condition"
The Banking Situation,
E. ii. Bailey, Cashier First National
Bank-MOney is i'll active demand at
full rates; still, speaking in general
way, the situation is very comfortable
one. There has as yet been compare
lively little money realized from the
crops, but the country banks of the
Northwest had more money this year
than last, and have been able to fur
nlsh great deal of funds for the pur-
pose of carrying wheat. They, in turn.
have procured funds from the city
banks to some extent. An official of
one of the Northern tranSconlinenal
lines told me today That the quantity of
wheat in store along that line Is one
half greater than it was at the same
time last year. The shipments east
ward and the exports are not equal TO
the expectations held at the beginning
of harvest. Eastern exchange is held
mostly between banks, and commands
some premium. We have more money
lent this year than last. SO have our
neighbors, and it stands to reason that
it is in active demand. l think the
wholesale men are finding collections
slower than they expected, but that is
due to the delay III marketing wheat.
There is an abundance Of product in
the country, and collections should i'm
prove soon.
A General View
of affairs was given by d. Morelaud, of
Bradstreet'S mercantile agency:
with about foot Of snow soon, fol-
lowed by clear, cold weather, every
prospect would be pleasing TO the buSl-
ness men. They have not had as good
a season as they expected, mainly on
account of slow collections in some de-
partments of trade, but they are not
depressed by the situation. They have
good reasons to expect excellent times
with the new year. There is an i'm
mense quantity of grain product i'll the
country districts. The vast amount of
products of these three states must be
exchanged, and that alone ought to
greatly increase business. Yes, with
regular winter weather that exchange
would be well under way. AS it is, it
has merely been deferred for time.
Jason w. Cooper, GriggS, Cooper d
Co., Wholesale GrOcers-The volume of
trade is keeping up remarkably we'll
with us for this time of the year. 1t is
exceeding that Of last year. The col
lectiOns are better this month, and,
while far from satisfactory, they show a
very gratifying Improvement as COM
pared with the corresponding period in
October. The tenor of our letters shows
considerable inability on the part of
railroads to move the wheat offered,
and some Of our customers say farmers
have to haul good deal Of the wheat
back home. This, Of course, has had its
effect on collections. | can't say that
they are complaining as much concern
ing prices as they are about the lack Of
facilities for marketing. With all this.
there is a general good feeling regard
ing the Northwest. There is an abund-
ance of resources, but IL takes time to
realize from them.
Views OF Merchants
G. j. McConville, Finch, Van Slyke,
Young d Co., Wholesale Dry Goods
The recent cold snap and snow storm
made business rather better with us.
In the country it increased trade In Win
ter goods 50 that merchants stocks were
broken and our business benefited by
their replenishing. There is also an in
creased trade in holiday goods. The
Iumbermen, preparing for the winter
cut, are causing Il large demand for
blankets, comforts. MackinaW goods,
wooden socks and goods of that kind.
The aggregate is very satisfactory, con-
sidering how late it is in the year.
There is also large demand for domes-
tics of all kinds in consequence OF the
active markets East and steady adj
Vances. Raw material, cotton. has adj
vanced fully so per cent (315c per
pound) and manufactures have been
compelled to advance their products.
This has caused retailers to buy in an
ticipation of future wants. A large
business has been done by our leading
houses, and the tendency is still up
ward. There is no doubt that all kinds
of cotton fabrics will be very much
higher in the coming spring. Mr.. Young
reported collections "fair." He said:
81 can't make any better report as YETI
Richards Gordon, Gordon & Ferguson,
Wholesale and Manufacturers of Furs,
Hats and CapS-Our trade has been re-
markably good this season, and our col
lectons are also remarkably good. re-
fer 10 the Northwest, and, generally,
throughout the country. We find a
good, healthy state of trade. We still
use our full force on fur goods manu-
facture and are working nights. The
volume of the trade is largely in excess
of that of year ago. The demand is
for better goods, and is is constantly
improving in this respect. There is d
much larger proportion of fine goods
sold this season than formerly. We an
ticipate splendid trade during the
coming year. The situation is very good
Notwithstanding the low price OF wheat
The Wholesale District.
Randolph Rossum, Scheffer & Ros-
sum, Wholesale Saddlery Hardware
Leather, Etc. = Our collections were
pretty fair in October. and they were
very fair in November. think, If WI
get good fall of snow and frosty
weather, we'll have elegant collections