St. Paul daily globe., 1893-04-23
No Anxiety Manifest Here
Over the Eastern Finan-
cial Situation.
Northwestern Weather Indi-
cations for the Crop Are
All Favorable. ~ "a
Business Men Give. .TheirV Jews
on the General Traffic
Outlook.
Heads Of Local Banks Discuss
the Monetary Condi-
tiOnS.

Bankers and business men of, st.
Paul contemplate the Eastern financial
situation without anxiety, for they
have kept their affairs well in hand
and, in general. have confidence in the
treasury being able to handle its finan-
cial questions successfully.
The failure of another Australian
bank, with heavy liabilities, and the
financial difficulties of large Pennsyl-
vania steel company, together with
troubles in Southern banks and business
houses, have checked speculative pur-
chases, and lowered prices of both
grain and stocks. The uncertainties
of speculation make an erratic mar
ket, with the sentiment tending to the
bear side. But for this sentiment, and
the uncertainty about money markets,
wheat and railway shares would look
like safe investments. The large volume
of the gold exports caused, during the
week. a juncture In the work of the ma
tional treasury which was promptly out
lined by Secretary Carlisle, and the
course of the government in its financial
affairs seems to meet with general an
proyal in the West. while a few Wall
street men, who have got into the
habit of thinking that the wheels of
finance could not revolve without
rigid following of their suggestions.
seem to be niffed at not being brought
forward now as directors of the
finances. Even among the experienced
bankers of the East there are wide diff
ferences of opinion on business policy.
Secretary Carlisle has succeed to the
satisfaction of the general public, and
great confidence is placed in his future
course. The Western banks are in a
very satisfactory condition, and present
a strong element of resource to the fiscal
affairs of the treasury.
Compared with one week ago, VIII eat
shows a rise of &c per bushei for July,
aud decline of SIC per bushel for
May. 1t closed at 72slc for May and
745sc for July (No. 2 in Chicago). Mess
pork at S17.l5 for May, S17.45 for July.
Live hogs were 5(@10c lower in Chica ago
yesterday than on Friday. Beef cattle
closed firm.
Spectators More Sanguine.
LII the speculative market of grain.
stocks, etc.. James C. Fitzgerald. of
Fitzgerald & Smith, said: 1.-THE ul-
favorable conditions must be pretty
we'll discounted now. The small traders
got scared during the week and, as
usual in such times, sold with rush,
carrying prices down without regard to
intrinsic values. Now. wheat looks very
cheap, and there are bargains in railway
shares, where the buyers can spare the
IF f6lr hA-
clineS OCCUR. There should be good
profits in, speculation on the breaks.
When the crowd rushes sales then the
minority makes money"
Busy Bankers. e.;j
A feeling of cheerfulness, more than
anxiety, was evident at the banks: 81
William A. Miller. assistant cashier
First National bank, said: Money is
close and we are busy. The conditions
are rather desirable for good banking.
fected collections with the merchants,
but they are fair, and trade seems to be
fair. Exchange has been limited with
us of late, and is quOtable at about par
between banks. Money still bringing
full rates."
Alfred Scheffer, Scheffer & Rossum,
Wholesale Saddlery, Leather, Etc--We
are busy moving our office into the Gill
fillan block to make more room in the
factory. Our orders were very fair
during the week, Notwithstanding the
SHOWS, and we can't complain about
collections.
Fruits are in good demand at un-
changed prices.
In produce markets &. NJ. Lucas. Of
Lucas Bros, reports good demand at
firm prices. Dairy butter selling read
lily. Eggs closed at Is cents. Fruits
selling out very nicely.
In South Dakota seeding is about fin
ished, while in North Dakota the work
has scarcely begun. The heavy SHOWS
that prevailed during most of the week
has set seeding back fully ten days.
the Red River of the North has flooded
the valley more than usual, but favor
able view OF this situation is taken by
many North Dakota people.