St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-06-04
THE TREND OF TRADE.
Business Men Wrapped Up in the
Great Northern Jul
bilee.
A Running Commentary on the
Trade Developments OF
the Week.


Tuesday, Wednesday and Thursday,
the business men have made very elab-
crate preparations for making the COM
ing jubilee the greatest ever held in
the Northwest, celebrating the compile
ton of the Great Northern railway. The
majority of the numerous floats to be
used in the parade Wednesday will be
attractive, more from the standpoint of
artistic beauty than from their utility as
medium of advertising. Part of yes
terday's afternoon holiday was given by
principals in leading wholesale houses
to an inspection CT the floats and dec
orations in which they are interested.
The seniors as we'll as the juniors
have entered into the spirit of congratu
lation, which is so evident on all sides.
The price of wheat and the fluctuations
of the stock markets don't seem to
trouble them much at present, although
some expressed the opinion that West
ern wheat men had been scared into
dumping their holdings and breaking
down prices. Close money markets
have aided the decline, wheat closing at
6636 cents for June and 72I cents for
September, while pork closed at S21.50
for July and S2l.9O for September.
Neither of these markets seem to have
any strong supporters at present, but it
looks like sacrifice to throw cash grain
on the market if it can be held in good
condition and without much expense
for storage. While there have been
bull points in the reports of wheat stor-
age it should be borne in mind that we
are getting nearer and nearer to harvest.
Deals Oh slim margins are more Danger
Gus than ever. even though wheat looks
as good as gold at present values.
Charles FL. f. Smith 4 Co., the cham
Der of commerce commission men, re-
port thus: The continued uncertainty
regarding financial affairs, emphasized
by the failure of Chicago banking
concern which made "a specially OF
handllng commercial paper, checked
any advance tendency which was war
ranted by cables and local receipts. The
demand for export is good, and is likely
to continue so around present prices.
Latest official French estimates put the
growing crop at 80. 600, 900 bushels under
an ayeraffe. This, with our short crop
of winter, shOHld make wheat good
investment PURCHASE. Heavy receipts
of corn caused Some free selling locally.
All the advices we have from the coun-
try are receipts will be heavy until
after the 10th of this month";" Our
opinion Is, all we can get will be wanted
at present prices to supply the home
and foreign demand.
Provision market lfeless. In our
opinion this market is good one to
leave alone.
The decreases in the New York bank
statement indicate that money is get
ting out into the country again. Ex-
change here closed quoted at 60@75c
discount on Chicago, and $10l.25 dis
count on New York, with most of the
transactions at the higher discounts.
chants have their accounts we'll In hand
and are making fair collections
for this time of the year, and
large lines Of credit are not
looked for. Regular customers be-
ing supplied for current business.
Trade keeps up much better than many
people expected, and such leaders as
John ii. Allen report steady increase
in business. Mr.. Allen said: 1--WE may
expect gsadual return to general finan-
cial conditions with the harvesting of
the new crop. Questionable or specu-
latiye concerns have had trouble, but
solvent nOnSeS are SAILING along under
proper reehng OF the sails. We could
accept time money at 6 per cent today
from Eastern lenders, if we wanted it.
Confidence is returning, and the crops
promise we'll all over the Northwest"
William B. Hastings, Manager Bar
rett d Barrett. Importers and Whole
salers Malt Beverages, Etc.-Our trade
is picking up in good shape. Our sales
for May are quite little ahead of last
year.
Rudolph Rossum, OF Scheffer & Ros-
sum, has gone to the worlds far for a
couple of weeks.
The general report on collections is
only fair" this being deemed dull
season. A few houses said their colec-
tons were much better last week than
they had expected. Many of the whole
sale houses and retail stores are deco
rated with flags and bunting.