The morning call., 1891-08-19
CONDITION OF TRADE.
4 Boom in Wheat and a Glut in
Fresh Fruit.
Dried Fruit Remarkably Cheap y Redwood
Lumber Marked Up-Continued Increase
in Overland Exports.

gain in July over the same month last year,
is over 100000 pounds, and for the seven
months endedI with July the increase is
nearly G9,000,000 pounds. As remarked
last week, almost all exhibits show that we
are doing an active business, though the
local bank elearings last week showed a de-
crease, being SIS, 966,6SS, against o,5o3,
500 for the corresponding week last year.
THE GRAIN MARKET.
Wheat was sensational last week. 1t can
generally be counted on to turn a fiip-flap
once or twice a year, and this is one Of
these occasions. Short crops in foreign
countries and large short lines in the diff
ferent trading centers gave the spectators
fine opportunity to make money and they
made it, 1t did not take them very long to
do it either. The cause of the boom was
the short crops The effect was the squeez-
ing of the shorts. The amount Of money
wrung from the pockets of these unfortu-
nate gentry must have been large, for they
filled at the bulls own price. At the close
the markets are quieter and shade easier,
though there is a feeling of buoyancy and
a firm undercurrent. The fact remains that
the world has got just about wheat enoug h
to 60 around and the bulk OF this is in
America, hence we reap the lions share of
the profit. AS for the shorts, ii is their own
fault il they have been ''cinched," for the
squall has been brewing abroad for mont his
and the newspapers have published col
umns and columns about it. All signs
pointed to a rise in wheat, and it rose.
Barley is coming in freely, but feed is
steady az 81 az to 81 1874. Oats are dull
and show gradual downward tendency
Corn is neglected and lower. Rye has shot
up to 81 30 and 81 90, and is closely held by
holders who are not inclined to sell. The
Cars ukase, prohibiting its export from
Russia, has given rye tremendous lift all
over the world.
Bran and middliugs have both been ad-
yanced since last review.
wheat freights have advanced to sos,
the highest point touched for some time.
Flour has gone up 25 cents per barrel, in SYM
pathy with the advance in wheat.
The grain bag combination nominally
asks So cents for Calcutta bags, but all the
same they can be secured at S3s 10 So cents
from so-called outsiders"
GENERAL COUNTRY PRODUCE.
Overland shipments of produce and mer-
ehandlse from California in July via South
ern Pacific lines were 52.2S6.9l0 pounds.
The leading items were as follows: 5442
centals beans, 1850 pounds borax, 10. 435
gallons brandy, 1865 gallons wine, &c, go
pounds honey. 1878, 80 pounds canned
goods, Il, 256,510 pounds fresh fruit prin-
cipally from Sacramento, 256, 260 pounds
raisins, 1880 pounds citrus fruit 1910
pounds hides, 663 cattle, 694, 400 pounds
leather, 90 200 pounds hops. 1885 centals
po tatoes, 2,674, 100 pounds vegetables, IS, $50
pounds quicksilver, 2,4l6.540 pounds wool,
52O,l20 pounds canned salmon. %, 200
pounds picked salmon, 1,4f5. 800 pounds
dried fruit.
Attention is directed to the enormous ship
ments of fresh fruit. They amour ted to SCI
carloads, against 655 Carloads in July, 1890.
The new Industry of shipping live cattle is
on The increase, 663 head going forward in
July, which is the best record yet.
The glut in fruit was the feature of the
produce market last week. Pears. plums
and peaches arrived in vast quantities, and
the Gamers were unable to take them, as
they were pressed to their utmost capacity
to handle the fruit for which they had con-
tracted early in the season. Hence, while
the Gamers We're working on fruit that had
cost them l y cents 10 . cents per pound,
they were utterly unable to avail themselves
OF the hundreds OF tons OF fruit which the
commission merchants vanly offered them
at "a cent 10 IA cents per pound. This is
ABOUT the most agsravatlng predlcament in
which The San Francisco Gamers have ever
been placed. Meanwhile the commission
merchants, overwhelmed with fruit from all
parts of the State, offered peaches at 1215
cents to 20 cents per box, plnms OF all kinds
at So to $40 per ton and Bartlett pears at
u cent to u cents per pound, and then
the fruit rot before their eyes. Pedders
bought quantities of this fine cheap fruit
and hawhed 1t about town, but they made
little impression on the enormous stocks
As last resort dumping was perforce re-
sorted to, and pears, plumS and peaches,
some fairly good and some rotting, were cast
into the bay. The majority of fruit COM
mission men did n0tpay expenses last week,
and the great majority of fruit-growers actu-
ally lost money on their shipments. 1t was
a
known IN the San Francisco fruit market.
Nor are dried fruits much better off.
With peaches at to cents per pound, april
cots at to cents and uDpitted plHms at
to ~ cents, there IS no money in dried fruit
at the moment To superficial observers
the outlook is blue, but shrewd men in the
business regard the current Generalization
as blessing in disguise. They point to
the fact that the ruinOusly low prices have
tempted buyers, and whereas dried fruit
could not be sold week ago, there is now
an increasing inquiry Tor 1t. Apricots have
been shipped TO England and Holland, and
these dealers say that once California dried
fruits are introduced into Europe perma-
nent market will be the natural result. Low
prices opened up the Eastern markets and
low prices may open up the European mar
ketS. Bedrock quotations, while discourage
ing to the grower, are sometimes the very
best thing that can happen TO the market.
Dairy products show little change from
last week. Cheese is quoted as before, but
butter is very weak, and both Eastern and
California are in large supply. Eastern
eggs have declined and are in heavy stock.
Honey is quiet and not over firm.
Hops are dull. Some prime new crop sold
on the Produce Exchange call at 171s to IS
cents, October delivery, but otherwise no
transactions are reported, either in spot or
future goods.
Hiues are weak and inactive. The meat
market IS without change.
Wool is quiet
GROCERIES AND PROVISIONS.
The staple groceries still run along with
very little change. Sugar is in fair demand
ana unaltered; coffee is quiet and Strady:
Hawaiian rice is lower, and Chinese grades
are without change. Shipments overland
from San Francisco in July we're SAG, 800
pounds sugar, 10.250 gallons syrup, 203,6S0
pounds coffee and 1857. 100 pounds tea.
Provisions are quiet, but hams and bacon
continue to slowly harden, in sympathy
with firm Eastern markets.
Canned fruits still rule quiet, though
more inquiry from the East is reported.
Prices show no change worthy of note.
MISCELLANEOUS.
Tobacco and cigars are quiet.
lin plate is weak at a slight decline.
Coal is In fair demand and steady. The
weeks receipts were 10, 800 tons Coast and
1887 tons Eastern. A private circular SAYS:
The total arrivals for The past two weeks Will
not equal one weeks consumption, hence we are
ealing into stocks already stored This Will put
us Ia a good position to lake care of the large
quantities of English and Scotch TO arrive here
within the next three months. JObbers have
been contracting freely for deliveries from ships
side, thus avoiding the hauling 10 yard and stor-
Ing same. The competition is so sharp among
our wholesale dealers 10 secure trade and poacl
on their Deghbors' customers that 1t leaves
very meager profit Tor the sellers. and is a ma
lerial assistance 10 the consumers. Late tiuctua-
tiOns in wheat quotations. and Its recent strength
eDlUp IN Chicago and IlySTpOOl. wOuiu
renewal Of coal shipments from English ports,
as outward grain freigbts here are rising which
Will tend TO lower inward coal rates. Vessels In
gagements are being made ana full rates are
quoted.
Cargo prices of redwood lumber have ad-
vanced 81 per NJ feet. Retail prices un-
changed.
Her Objections.
They were shopping.