St. Paul daily globe., 1893-06-11
Matters Doomed Though De-
moralized by the Hill
Celebration.
Commission Men Think Farm
eps Will Err in Selling
Wheat.
Money Still Close at the
Banks Except to Regular
Customers.
A Little Gossip Of Trade
Among the Well Known
Dealers.

A consideration or trdQe mdtCeTS HeIo
during the past week would seem very
superficial without some reference TO
the highly successful celebration IN
honor of James j. Hill, in which the
business men showed their vim, enter
prise. progress and substantially in a
manner that surprised Eastern visitors,
as we'll as those who read the published
accounts in the Eastern papers. One OF
the most interesting points about the
celebration was this: The reports
needed no touching up" or cOlOrlng IN
order to make good news matter,
The exhibits that came here from other
cities of the Northwest made splendid
addition to the home display, and showed
that the progressive spirit Is advancing
rapidly in all portions OF this Sectlon
which has grown so rapidly during the
past ten or twelve years. The fact that
100000 was distributed in this city Tor
floats, decorations, ETC., is pointer that
the merchants feel able to invest llber-
ally on such an occasion. The commit
tee alone disburSed over $4,000 on what
has proved to be valuable exhibition
of industrial resources as we'll as trIb-
ute to Mr.. Hill'S courage and skill IN
railway development.
The export demand for wheat partly
checked the decline Of the first half OF
the week. On this Charles II. f. Smith,
OF the chamber of commerce, says:
THE government crop report seems to
have been discounted to large extent
as indicated by the great decline In
wheat, and we feel that wheat bought
at present prices will certainly pay bet
ter interest oD the money invested than
], nj Nn oil
would
Make a Mistake
in disposing of their wheat at presen t
prices, which are below the cost of pro-
ductiOn. If the Farmers Alliance would
send out such advice as they did about
year ago they would show that they
really have the interests OF the farmers
at heart. AS to price, hoWeyer,it seems
that the old time notch of 81 per buShel
for wheat is past and that soc in Chi
cago will be the top notch for some
time to come"
Banking Matters.
While money continues close at the
banks, and 0btainable only for legiti-
mate business by regular customers,
they continue in such strong position
that j. J. Corcoran, the leading rep
considers that the St. Paul banks have
rarely if ever, been in better condition
than at present. They have larger
gold reserve of any city west of Chicago,
and the comptroller of the curruncy is
responsible for the statement that there
are but seven cities in the country
having as large a gold reserve
as st. Paul. The distribution
of merchandise from the city has been
maintained on scale largely in excess
of expectations, and IN spite of condi-
tions that would ordinarily result in a
severe restriction of trade. Any lack Of
confidence that may be felt as TO future
monetary conditions or contraction of
trade is largely sentimental, and so far
as it affects the Northwest no specific
cause is believed to exist beyond the
vaporings of silly sentimentalists. In our
own immediate section, with its wealth
of resources of infinite variety, and with
all the conditions at present favorable
for an abundant crop, there is certainly
nothing very serious i'll the situation to
contemplate"
Exchange was not handled in large
amounts at the close of the week, and
was quoted yesterday at COARSE dis
count Oh Chicago and S1@1.25 discount
on New YOrk-practicalIy at shipping
rates, with little doing.
Trade Talks.
The merchants took principal pleasure
in referring to the success of the weeks
festivities. Among those who talked
were the following:
LA. Guiterman, Guiterman Brothers,
Manufacturers Gents Furnishings and
Clothing-We hear from our travelling
men very bright prospects for the grow
ing crops, and trade is improving with
the nice weather. The Hill celebration
has been a great thing for st. Paul.
Even many people here at home did not
know that such grand representation
could be made. 1t goes on record as
magnificent event. Our people are wide
awake, and will not easily forget this
Spendid success.
John F. Broderick, Ryan Drug Co.,
Wholesale-Our trade has continued
good right along. The celebration
purchases. L think the city derives a
lasting benefit from its effect upon the
entire Northwest and upon the city
itself. | have never before witnessed
such a spontaneous Outburst of enthuS-
Iasm for a man that the Northwest owes
SO much to. The magnifcence of the
decorations surprised everybody. 1t
was certainly whole week of Joy and
pleasure. The people were inspired to
make the city famous. 1t shows what
st. Paul people can do when they at
tempt anything.
j. S. Robertson, B. Presley & Co.,
Wholesale Fruits-With an improved
feeling on money matters, trade is cor
respondingly better. We have, person
ally, nothing to complain of. having
about all the business we can attend to.
and attend to it we'll. The prospects are
bright. The flags of the Great North
ern celebration have gone broadcast
over the Northwest, and the hero of
railway fame is talked of wherever
newspapers are read. 1t has been a
great credit to st. Paul.
PlCJNG KJNGG tn NTEE1r