St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1892-10-23
No Special Change in the
General Mercantile Sit
uatiOn.
Collections Lighter ming Up as
the Farmers Sell Their
Wheat.
Local Dealers Getting Ready
for the Coming Holiday III
Trade. *
Views Of the Present and Fut-
upa Condition Outlined II
by Dealers. -

wheat very reluctantly at the present
low prices-an average decline of "a
cents per bushel during the past month
as compared with the same month of
1891. This has had some effect upon
collections. which have not come for
ward as promptly as the wholesale men
had expected. The fine weather of this
season has also enabled the farmers to
carry on more fall work than usual. and,
being well employed, they have not
paid early attention to marketing grain
and arranging their accounts at the
country stores. AS they paid off many
mortgages with the proceeds of the
magnificent crops and good prices of
1891 their financial condition, speaking
in general way, is looked upon
as substantial, and their prospects
are very favorable. The collections
of the wholesale men have increased,
with perceptable gain each week
this month, and their trade holds fully
equal to last year i'll some cases and in
creased up to a large percentage in
many other instances. Several jObberS
report fully so per cent increase each in
their trade this season as compared
with year ago.
Better prices for wheat are looked for
and the general situation is favorable
to the great manufacturing enterprises
and new business houses that are ell
tering this field. The amount of build
ing going on i'll ST. Paul is larger than
has been observable during the CORE
spending season for several years, and,
including the harvester and coIdage
works. is probably the largest ever
known here. From the banking stand
inf hox fh1,f oll
A. c. Anderson. Cashier St Paul National
Bank-I have just returned from an extern
slve trip south through Ohio and as far east
as New York. have see- and talked with a
good many bankers while away and their
views can be summarized in this, that the
financial situation i'll general is quite salts
factory. An abundance of grain is being
moved. This has taken a vast amount of
funds, but the money is forthcoming readily
as the demand is legitimate The crops have
been good enough this year to place the
Northwest in very firm position. The farm
ers had paid off an enormous total of mortgage
Indebtedness through the great crops of 1891.
but the general trade did not feel as much
financial benefit from last years harvest as
was expected. They are more directly bene-
f fi by the present situation, and it seems
likely that the conditions will continue to
become more and more advantageous. There
was some misapprehensiOn in Chicago a
short time ago on account of call moDey in
4NeW lOIh udNIuS run 10 higher rates, nut
that was owing TO the repayment of one
large railroad loan. 1t temporarily disturbed
the call money market. The outlook here is
very favorable. Notwithstanding the activity
In financial operations there is plenty of
money for legitimate business and at reason
able rates.
At the banks attention was called to the
editorial comment Of the New York Indi-
Gator Oh the bank statement OF Oct ID, as fol-
lows: THE SUR us reserve OF the New York
clearing house banks, which on July 30 last
was over S!4,0Op0O0. is now almost nil. the.
figure reported Saturday being $3.50 050. How
it happened may lie interesting to know ]
Eleven weeks ago the banks reported
since that time s6l,Ooo,Coo have been
withdrawn. In the same time the banks have
reduced their loans from about SiS5 0G0,0i0
to S453 50O,00o, decrease of only about S25,-
500.000 less than the decrease in deposits. We
now find the deposits only about SS500.0O0
larger than the loans. while on July 30 they
were S44 00000G larger From business point
OF view the banks are certainly in a more
satisfactory position Than the one which
they occupied about three months ago. The
surplus is small, it is true, but it is a surplus,
and 1t is just so much in excess of what both
law and custom has recognized as an abso-
lutely safe reserve to carry
pleasant view of wholesale business will
be found below:
Charles S. Rogers Rogers & Ordway, Whole
sale hallway and Mill Supplies. Machinery,
Etc-Trade i'll the Northwest is in a fairly
prosperous condition. The wheat crop was
not quite up TO the expectations of farmers
III Northern Minnesota and North Dakota,
but ln-South Dakota ii has more than come
up to their expectations. Our Pacific coast
trade is making very manifest improve
ment. The collections show about the same
conditions as the crops i'll the respective To-
calitles. The city trade here is Improving
especially among steamfitters. All the Jour
neymen steamftters of st. Paul are bus
ny employed at present One in.
d dIGa5ioa t Of the Large large amount OF
! evidenced by the rise of SD per thousand in
| the price of common brick. The Wood Har-
| vester works require 100000 brick, and the
| st. Paul Cordage works 100000 The first
| story of the cordage works is up, and the
work OF construction is going right along
| BY the way. a Kansas City man who is
| familiar with the business, wanted recently
| to take $50G00 of the cordage stock, but the
| offer was declined. It's going to be great
business. good many fine blocks and
| residences are being built now, and that
makes our trade lively. You'll have an ad-
vertisement in few days for 400 hands TO be
| employed in the cordage WORKS.
| Powers Dry Goods Company, Wholesale
| Our trade during October was ahead of Octo-
| Der, 81, and we anticipate a very good trade
| during the next sixty days. Collections
| show considerable improvement and l ex-
| pect they will continue to improve The
| ldrHerS nave Ialr crops, Dut the price of
| wheat is low as compared with the prices of
last year, and. of course the farmers don't
like this feature of the situation On the
other hand, they are getting the goods they
| need at low prices.
| A. T. Rosen, Fur Dresser-I have had to
| build additions to my place at South Park
| this year to accommodate the new business
dress and dye great many skins for the
| wholesale furriers of st. Paul. Fully 81. OOG.-
! 900 worth of these goods pass through my
| place during the year. They foot up very
| fast, for most of them are expensive, and
| the st. Paul houses use them in making as
fine goods as can anywhere be found
Flank Clifton, vice president, Minnesota
| Packing and Provision mpany-Business
! is on a fair basis in then orthwest ;the demand
is excellent. The only trouble we have is in
our pork packing operations-the hogs do
the general requirements. If we had a good
steady run of hogs to South St. Paul, the
packing operations could be carried on at
| much better advantage.
| +. j. Waterous, Treasurer Waterous En-
| CINE Works, Manufacturers Steam Fire En-
| gines. Etc.-Our business is about so per cent
| better than that of last year. when we
| thought we did very well. We shall have to
| extend our buildings soon. We sell in the
| South and on the Pacific coast as well as
throughout the West, and our steam fire en-
gines made in ST. Paul give as good Satisfac-
| ton elsewhere as they do at home. We can
manufacture as good machinery here as any
where by properly combining skill and expe-
rience in each department.