Omaha daily bee., 1894-03-04

products like wheat. corn, pork and cattle
are feeling the depressing effect In the most
natural way.
THE favorable weather OF the week has
already stimulated spring shopping, and re-
tail dealers are encouraged to hope for a
better trade during March than any other
time since fall. A leading carpet house, for
instance. has had the best week I'm a year.
The city authorities appear to appreciate
the Importance OF providing for public works
at the earliest possible moment, and are
bending their energies I'm that direction.
Just as soon as the weather will permit o
considerable amount OF work will be UNDER
taken, and skilled mechanics as well as day
laborers will be in better demand at remu-
nerative wages. While / can see no reason
for good trade or a rapid reaction before
summer, | am encouraged by the conditions
presented for a moderate activity in all
lines.
FOR A NEW JOBBING HOUSE.
at the Commercial club. where business
men congregate and discuss the situation in.
formally from day to day, there have been
three or four topics uppermost. The Inn
p%ortance of securing additional dry goods
houses is appreciated by all, and the trade is
generally of the opinion that any reasonable
sacrifice can proftably be made in order to
build up the dry goods department. The
two excellent houses already here are doing
a good business in the face of the very
sharp competition Of st. Joseph, which is
ANllN ~ "a w lAltO hlllli ObtAi
The fact that they have placed their agents
in this city is positive proof that they APP
preCiate the Importance OF handling trade
from this point, but, representing houses in
a rival city, they naturally make no effort
to assist other branches Of jobbing. Their
money goes to st. Joseph. and as far as
1t lies in their way to do 1t they naturally
send their trade to st. Joseph. This Is not
at all discreditable to bur sister city, but it
is cause for reflection among our own bust
lnGu MAJ nn1 nFh IN GttF1NNlltn thp. do
termination to strengthen Omaha as a dry
goods market.
"a loan broker in this city who keeps well
in touch with financial conditions expresses
some concern over the fact that several
leading loan companies are Withdrawing
their agencies from this state. This is not
done because the character of loans offered
Is not satisfactory, but because the number
of desirable loans presented is not sufficient
to warrant maintaining organizations here.
This broker fears we shall find it difficult to
secure money from trust companies on ac-
count of this action. However, l am dis
posed to take a more favorable view of the
situation. No state in the union has made
a better record than Nebraska with the
legitimate investment companies, and no city
in the union has been less affected by wild
cat loans. There is now a glut of money in
New York. Money on call this last week
has been as low as l per cent and single
name paper was offered for six months at 4
and Az per cent. The cities and states in
which borrowers have paid their interest in
times past are the cities and states
that will be sought when loan com
panies are again actively in the field
for borrowers. The places of the companies
which leave us will soon be taken by repre-
sentatives of others or If not by representa-
tives directly connected with t.. : eastern es-
adjustments, the loans will be made through
our own active brokers. One loan broker,
who is very successful, reports the tide al
ready turning toward this city and although
his concern is not a large one he boasts
Of receiving $4,000 to be placed upon Omaha
property in the past week. This is merely
a straw, but it distinctly marks the course
of the current.
"An active representative of the gentlemen
who are pushing forward the union depot
enterprise told me on the street yesterday
that he believed this undertaking would be
in shape to propose to the public within ten
days. One Of the representatives of the canal
scheme is hopeful that within two weeks
they can show $3.50, 900 actually guaranteed
as a basis on which to calculate for the
future of this project. BY the Both of the
month it will be known definitely whether
or not our enterprising citizens have sue
ceeded in their efforts to induce Il large dry
goods house to remove to this city.
HELP EXISTING FIRMS.
Perhaps it is proper to call attention to
the Importance of looking well after the in
dustrtes already established here. Some of
NAhASA AONAo III
ously hinder their development. A little
judicious assistance would be profitable, not
alone to the institutions aided, but to the
public spirited citizens who might tender the
aid. | recall the statement that one of our
strongest national banks had all it's stock
subscribed in about fifteen minutes, and an
also informed that this bank has never paid
to exceed 8 per cent in annual dividends. 1t
would seem, therefore, that any business
enterprise which can show positively that 1t
earns 10 Der cent ought to he able To inter-
est local capital without much trouble. A
large dry goods house, for instance, would
pay more than 8 per cent, and why cannot
local funds be found to forward the city's
interests in this direction? l was much in
terested in a letter which a manufacturer
sent me last week, commenting upon the re-
marks made in this review a week ago with
reference to a bureau of promotion in the
Commercial club. A year ago this man was
carrying a tremendous load of indebtedness
and he could not see his way clear to pull
through without help. He was a customer
of one of the banks suspended last summer,
and when the distressing times struck the
city he WIS without his usual bank ac-
commodations. although he owed the sus-
pended institution a considerable sum of
money. He appealed to two or three
other banks, and endeavored to borrow the
small sum of $500 in order to pay for ma
terial which must go into the article which
he manufactured before contracts could be
fulfilled. He had a certificate of deposit in
a solvent bank and good notes. amounting |
together to 81 200, but was unable to interest
anybody in this city in extending him the
accommodation. AS n consequence he fell
back on an old friend in a country bank and
obtained his money. He later on discounted
his certificate of deposit for it's face and
cashed his notes without discount. This
individual has pulled himself through these
hard times and is now on his feet, but he
feels that If a bureau of promotion, com,
posed of conservative but wideawake citi-
Zens, had been in active operation last sum-
mer he could have been saved the humilia-
tion of going out Of his own city to borrow
money enough to keep his mandatory in !!
operation and pay wages to his employees.
He calls attention to a neighbor institution
which is now in about the same condition,
but which. being without satisfactory col
lateral, cannot induce anybody in the city to
render 1t assistance, In consequence the !
factory lies idle. It's owners are losing
money, and those who should be employed
by it at wages are doing nothing, These are
mere hints which are offered to the reader
for what they are worth.
WOULD BE A WINNER.
"a bureau such as Is above indicated
would shortly win for itself a place in the
Of some of our wealthiest citizens
and within a year this bureau would find