St. Paul daily globe., 1893-03-26
THE TREND OF TRADE.
Wheat Closes a Trifle Up, De-
spite the Weeks Bear
Tension.
Trade in the Uncertain State
That Spring Only Can
Relieve.
Retailers Begin to Feel Active
and JobbePs a TPif1e
Rested.
Local Business Men Give
Their Views Of the Stu
alton.

All merchants and traders aIe inter-
ested in the course of the wheat market,
which showed but little disposition to
fall below the average prices of the pre-
ceding week, although considerable
bear talk was INDUCED in. Prices
dropped a little at times during the past
week, but the market soon reacted, and
the closing is at rs cents per bushel for
May delivery in Chicago. q of a cent
advance over one week ago. The prices
of this crop have been very low, eSpe-
cially for this season Of the year. The
situation discourages farmers from eX-
tending their operations III wheat grow
ing, and some traders believe that there
is less wheat in farmers hands than
the government estimates indicate. The
eastern bull clique seems to be able to
carry large load, and it is realized that
their holdings of wheat were bought
at very close to the cost of production.
Although the supply is large, it would
require a serious failure among the
wheat bulls to cause sharp decline IN
prices.
May pork shows net decline of 10c
per barrel during the week, closing at
S17.62%. Expected increases III the re-
ceiptS of live hogs has enabled the pack
erS to buy them much cheaper or late,
and seven cents is beginning to be
looked upon as the probable quotation
for most of the packing stock during
the season.
New Orleans came to the front during
February as the leading city on wheat
exports, which were 1867, 1874 bushels
%, 023 bushels more than the wheat eX-
ports for February from New York.
They can ship grain quite freely from
Louisiana in the winter, but In the
summer time it is risky on account OF
the danger of heating.
In the land departments of the rail-
roads great many Inquiries for farm
properties are reported. ID. NJ. Stew
art, chief clerk of the Northern Pacific
emigration department, reports that the
inquiries at that office are more numer-
Gus than ever before. and form very
Good Glass of Settlers.
Minnesota lands are more in demand
now than ever, and the combination of
timber and prairie is preferred. A vast
amount of advertising matter has been
sent out by the railroads, and its effects
are being felt. The Northern Pacific
has Just used up an edition of 200, 900
copies of newspaper size, giving letters
from many farmers and fruit growers OF
the Northwest. They will soon put out
another advertising medium, hand
somely illustrated; and for the worlds
fair two elegant exhibit cars have been
built in which to show specimens OF the
products of seven great Northwestern
States, including Minnesota.
ic hnnad that uQSfardaV'S sunshine
began the end of the unpleasant
weather. Groceries, heavy clothing,
fur goods and provisions have been
cleared to consumers, but the country
merchants are buying carefully.
They are not much inclined to over
stock this season. Collections continue
slow in most lines. The lumbermen
are very we'll pleased with their outlook,
and they expect to get their logs down
to market easily.
Atthe Banks.
Money is IN active demand, and the
banks are doing large business at full
rates. Theodore Dray, assistant cashier
of the National German-Amerlcan bank.
said: 1.-The New York bank statement
is very favorable and business seems to
be getting into good shape. Exchange
Is from par between banks to % cents
premium on Chicago and 90 cents prem
ium Oh New York. Money is busy at
full rates."
E. w. Peet & Co.. financial agents,
said: Confidence in financial circles is
being restored, and we look for much
better condition next month. There is
plenty of money for mortgage loans, but
the security must be real good. Eastern
investors are more particular about the
security they advance upon than they
were few years ago.
In the produce business Zene G.
Bohrer reported trade more active, and
butter and eggs firm at higher prices.
Eggs are quoted at 16 cents per dozen,
and good to choice butter active at 20
cents per pound. Cheese firm.
William G. Gates. secretary of the
board of trade, said: The fruit market
is well supplied with all seasOnable
varieties of California and southern; re-
ceipts of apples are light, and stocks are
being rapidly reduced, making a very
strong market for all qualities in good
condition.