St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1893-05-14
THE TREND OF TRADE.
A Marked Improvement In
Collections and Crop
Prospects.
High Standing Of the st. Paul
Banks EXcites Favorable
Comment.
I
Banks and Business Maintain
Their Impregnable
Prestige.
Jobbers Look Forward to
Steadily Good and I'M
proved Trade.

Many interesting features are to be
seen from time to time in the wholesale
district. The trade reporter, while being
shown through one of the large dry
goods houses of St. Paul recently, was
ushered into the manufacturing depart
ment during the noon hour. Some of
the operatives. bright-looking com
pauy of active young women, had just
finished their lunch. Several Of them
had started singing popular song, and
their joyous, gladstone voices did
not falter when the visitor ar
rived, but rather increased in
volume and melody. Then the chorus
was joined in by all the operatives and
the singing went on, from song to song,
in merry, gladstone glee. The work
rooms were we'll lighted and cheerful.
The machinery was so located that the
operatives were not crowded or huddled
together, and in no part of the establish
ment could be seen any of the sweat
shop features so often associated with
eastern concerns that manufacture
wearing apparel. A portion of the force
had gone to lunch at their homeS-a
privilege that all could not use.
Not merely in one establishment here,
but in all of them, can due considera-
ton for the comfort of the employees be
seen. New and commodious buildings
have been erected for such manufacture
ing, and the disposition to have plenty
of room and light and ventilation is a
noticeable part of the arrangements
which have been carried out. The upper
floors of the buildings are airy and
pleasant in summer, and are properly
heated during the winter season. The
young women look healthy and good
natured, and the managers find that
good, active work can be done the more
readily under the proper conditions.
A marked improvement in collections
and favorable crop prospects supple
ment the general feeling of confidence
in the business situation of the North
west. Wheat has shown advances dur
ing the week, followed by some decline,
but it has held up we'll in view of the
declines in railway shares. Provisions
are higher than the prices of one week
ago.
The closing Of deal yesterday for
the erection of very substantial brick
building, at an estimated cost of $780,
900, for the wholesale hardware house
of the FarWell. Osman q Kirk company,
indicates an abiding faith in the bust
ness situation. The details will be
found in another column. ii
Aside from the financial questions. a
reference to the last government crop
report is interesting, as follows: 1t will
be found that it portendS the smallest
crop of winter wheat raised in this
country for many years. 1t is also we'll
known that there is very heavy short.
age in Europe. which. however, will
not make itself felt till July. sis
Guarding the Wealth.
Men Of means view the st. Paul bank
statements, published this week, with
pardonaUle pride. The high standing
of the bankers is commented on very
favorably, and they are evidently
losing none of their widely known
prestige. An Indifference to mere stock
jobbing operations is expressed in the
following:
William Blckel, Cashier, Germania
Bank-What do we care for the fiurres
among Eastern spectators? Why should
the West be governed by the gambling
operations of Eastern stock jobberS?
We Will attend to our business in bus
inesSlike way and have no fear as to the
result News travels fast and frequently
nowadays, and often looks much worse
than it really is. Thirty years ago it
would have taken two weeks to hear
from New York. Now we are advised
in few minutes. The methods and
conditions are changed, and we feel in
dependent Of the East. | believe that
very few railroad stocks are held here
excepting, possibly, by small number
of investors who are abundantly able
to carry them. The local situa-
ton looks satisfactory. The bank state
ments make a good showing, and | hear
that crop prospects are better than
many people figured on in this section.
see no reason for worrying about the
Northwest. Exchange was not abund-
ant at the close of the week, and was
quoted at premium of 80 to IS cents
on New York and at par on Chicago be-
tween banks. The New York bank
statement made quite favorable show
ing of increase in reserve and legalS.
The report, taken altogether, was a
good one. Money is close, but regular
customers receive proper attention al
the banks. Prominent fnanclerS con-
slider that their best advices indicate a
much easier money market in thirty to
sixty days.
Concerning railway shares, Fitzgerald
& Smith said: At the opening there was
considerable pressure to sell, and no
support developed. Chicago was a
heavy seller of Changers, especially
Chicago, Burlington d Quincy, in which
the weakness was most marked. There
were renewed rumorS that receIverShip
for DistillerS was inevitable. and denIals
were not made III very confident strain.
The whole list gradually sold down I'M
til the bank statement was published.
when rally took place, but the close was
heavy and feeling of great depression
was noticeable. A report was received
Oh the floor of the suspension of one of
the largest brokerage houses in Wall
street, but contradiction followed
quickly. Bank statement was of an EN-
couraging nature. After the panic OF
last week there was considerable buying
by those who thought that prices had
reached a level where a marked i'm
provement must take place, but they
have become tired of waiting and today
threw over a large amount of their
holdings. No improvement is looked
for for the present; the public are doing
nothing in the market, the traders are
all very bearish and trouble is looked
| for in London next week.
Collections, Crops and Conditions.
The Wholesale men have good cause
| to feel pleased with the developments
| of the week. The results of investiga-
| tons by active travelling men are in
| Guided in the views given below:
J. w. Cooper (Griggs, Cooper Il Coz