St. Paul daily globe., 1893-05-07
THE TREND OF TRADE
Yesterdays Developments
Verified the Predictions
Of Friday.
A Sensation May Follow the
Winter Wheat Crop
Shortage.
Banker Dawson's Compre-
hensive Review Of the
Money Situation.
st. Paul Jobbers Sum Up the
Current Of Local
Traffic.

A lively interest was naturally awak-
ened among the business men OF the
Northwest during the week by the
housekeeping which held sway until
Friday afternoon among the Eastern
spectators in Wall street. On Thurs
day and Friday, few large industrial
trusts led the Eastern windup, and
the drama was spiced with few fail
ures among the stock brokers and the
collapse of the trust balloon. Those
days go on record as exciting times
for Wall street operators, but
they produced no CONSERVATION,
and very little, if any, excite
ment in this part of the country.
The views of leading st. Paul bankers,
published in yesterdays GLOBE, accord
with Saturdays subsequent record. No
business troubles in the Northwest, re-
coyeries to steadieI and better markets
in New York stocks, continued strength
and improvements III grains and pro-
visions and Improvement in the North
west IN general business and cOllec tons
these are the run Of opinion given by
these bankers in their conversation last
Friday afternoon. 1t almost seems as
though their natural antlpathy TO
promiscuOus speculation keeps these
bankers from scooping additional fort
unes from the speculative circles. In
calling attention to the dubious charaC-
ter of some of the industrial stocks
they have repeated their admOnltionS
given time and time frequently con-
cerning the dangers of stock jObbing
and "pufhng" in such shares. In found
ing industrial enterprises here they
have cOuntenanced only those that were
established upon solid footing and
managed by men of thorough expert
enCe in their undertakings. They have
been called conservative and wary and
rather careful, but none can deny that a
comparatively secure system of bust
ness conduct prevails among the lead
ing men of this locality.
The bear operators of Wall street
made money during the week. They
took advantage of every chance to
slaughter unsophiSticated holders, and
good diVidend-paying stocks fell in
sympathy with the decline in industri-
ais, but not to such a noticeable extent.
The wedding out of a few infationists
and the losses Of their followers should
not disparage the reputation of all the
Industrial enterprises. Industrial shares
in enterprises conducted by men who
know where and how to do their busi-
ness and kept free from the vortex OF
speculative manipulation should con-
tinue to compare favorably with part
nership investments in the average OF
business concerns.
The New York bank statement yester-
day morning was considered here an
improvement over the statement of the
previous week. A slight Improvements
in New York stocks during the day and
the firm close of that market gave added
encouragement.
A peculiar feature all the week was
the strength and improvement through
out the grain and provision markets.
1t bears out the views held here for
several weeks that these markets had
features of strength which the general
reports have disregarded or suppressed.
Right against the Wall street fasco
grain and provisions made good adj
vance. On Saturday they were
higher all around than on
close, compared with April 30, was on
wheat, 334 cents for May and July, a.
for September. and December wheat
was quoted at SO cents per bushel. Corn
gained from IL to 81 cents per buShel.
Oats gained l Is to 316 cents per bushel.
Mess pork gained 9415c to $1.30 per bar
rel, and lard and ribs show slight ad-
YanceS.
For reasons best known to the elevator
men it has been difficult to keep well
posted on stocks of grain this season.
The bullsh position on wheat which
has been held in this column has re,
ceived its clearest confirmation from
Daniel Buffers, one of the best known
members of the Chicago board of trade,
who was here yesterday. Mr.. Buffers
said:
1--WE will have 1875, ,OOO, 600 bushels less
winter wheat this year than in 1892 Ii
the spring wheat is not i'll in ten days
we will have excitement in the wheat
market. Russia has a poor crop of WIN.
ter wheat. and Russia's spring wheat
seeding is not done, being bothered
there just as we are in the Northwest
There has been no rain 10 speak of il
England for ten weeks. England's
crop for '93 is estimated at the small