The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1912-06-18
BUSINESS IS
MORE ACTIVE
A Far Better Tone is Shown
in the Bond Trade
Expectations Good.

Minneapolis. Mimi. June 1S.-The
continued weakness in the money
market with the large surplus of funds
which has found its way into the
northwest for investment is causing
some shading of rates by local bank
ess ana 1t Is possible to negotiate loans
below 8 per cent for prime paper.
Loans upon other Collateral than com.
mercial and industrial paper are also
being placed around 5k per cent,
where the loan is of any size. 1t is
doubtful If there is a bank in st.
Paul that wauld refuse 5h per cent
Tor its moiey provided the security
were gilt-edged and the time not too
long. Prime jobbers' and manufac-
.urers double name paper for sixty
and ninety days is readily discounted
below 5 per e and some of it at Az.
Other paper not so good is discounted
at from 5 to 5k per cent. This is q
decline of about " per cent during
the month and it is probable that the
decline Is about all tina will materi-
alize this summer.
While business undoubtedly has
been stimulated by the lower rates OF
is also true that funds are increasing
IN the northwest. 1t will soon be time
Tor the crop moving and already east
ern money is being sent this way for
employment In that capacity. 1t is
rather early Off the westward move
ment this year but the continued ease
In the eastern money market coupled
with the surplus funds available in
nearly all centers. cause an earlier
movement han formerly as the east
ern capitalists recognize the fact that
tnelr money stands an excellent
chance OF remaining idle if allowed to
remain in eastern banks.
General business shows signs Of
continued activity. Nearly all lines of
the jobbing and manufacturing lines
report good business and excellent
prospects. The bumper crop promised
IN the northwest is causing some Of
the wholesalers to start new lines out
through the country and it is expected
that business will increase substantial.
~ over preceding years.
The bank clearings for the fiscal
week ending Thursday were 10,l6S,-
223.ll as compared with s~9.629.9S4.-
Al a year ago. The clearings for the
same weeks in Minneapolis were $751;
4~91.l77.39 as compared with %$lS,049,-
o0s:21. The total returns from all
leading cities in the United States as
compiled for Dun's Review, aggregate
$2.96l,474,043, an increase of 8 per
last year. and of o. per cent as COM
pared with h corresponding week
in 1910. Outside cities make a ia
vorable comparison with both previ-
u years. with a gain over last year
OF 6.S per e and over 1910 of 81
per cent.
Among the sales reported to the st.
Paul stock exchange during the week
were the following: Three thousand
st. Paul Gas general 5s at 9S 3-4: g.
600 Superior Water. Light & Power
Co. As at 50 R 20 shares American
Light d Traction common at 312; so
shares Twin City Rapid Transit com
NOR at 107; 1000 st. Paul & Kansas
City Short Line AVS at 92k; so
shares National Surety company at
230k; 5000 Locomohile Comapny of
America ss at s7tA; $4,000 Chicago &
Eastern Illinois R. r.. coal IS at ss:
$4,000 Minneapolis Street Railway and
st. Paul City Railway consols IS at
104 "a: 1000 Baltimore & Ohio 5ks
at 81; 1000 Chicago & Western Indi-
n IS at 10SA; 1000 Knoxville &
Ohio 6s at ia; 1000 Iowa Falls &:
Burlington & Quincy joint Is at 90;
ten block Northern States Power UNI
derwriting at 100; 95 shares Pettibone
Mulliken first preferred z per cent
stock at 101.