The record-union., 1892-06-20
COMMERCIAL.
The Week Closed Fairly Active at San
Francisco.
Dairy Produce and Poultry Coming I'm
FreeIy-Fruits More
Plentiful.
Especial Correspondence REconp-Us1ox.-

lSpecial correspondence REcoRD-UNIoN.l
SAN FRANCISCO, June Is, 1892.
The week closed on a fairly active for the
season, trade in general merchandise There
has been unusual steady prices, and from all
Ihat can be learned there are not liable to be
many changes in prices under thirty days.
IN Iarm products cereals have been inactive,
alIhough toward the close more was done in
new crop barley for July-August delivery.
Inc purchases were made for shipments to
Europe. England mail advices from London
indicate another shortage in the barley crop
IN England and France, which probably is
the cause for present buying. Seasonable fruits
nave come in very freely and sold at much
better prices than ruled at this time in S91.
Heavy shipments are being made to Eastern
distribution points. The fruit this year
average larger size, frmer and more fruity
than did the fruit in 1891. In seasonable
vegetables business has enlarged, under freer
receipts.
In the local market there is continued com
plaint of a glut of money, with very little de-
mand either for legitimate or speculative puT-
poses. The dull times in this is reflected in
the weekly bank returns which show in COM
parison with like dates in 1891 falling off,
and last year everything was generally dull.
borrowers who give giltedged security get
ready accommodations. AT the savings banks
tisclaimed that loans are only made on realty
atabout 50per cent of its market (cash) value.
In active times larger accommodations are
made. 1t is now claimed that interest and
other bank dividends viii be less for the first
half of this year than they were
for the corresponding time inf 1891.
In commenting on the money market
the Mining and Scientific Press of even date
says that at New York money has never
been in such plentiful supply as it is at pres
ent. Not only is this the case at New York,
but it obtains in all the leading cities of this
country, and also at all European financial
centers. 1t looks as if tor some time to come,
as it has for some time past, the borrower viii
be able to dictate his own terms. In New
York the rate for temporary use is below
per cent per annum. In London it
has fallen TO 14@% per cent. on call and is
lending as low as 15-16 of 1 per cent for as
long period as three months. The Bank of
England rate is down to two per cent below
which il never reduces and the Bank of
France has been compelled to reduce its rate
Such a condition is unheard Of 1t comes,
too, at time when there is no pressure to sell
American securities at the East as was the.
case in 1884 when steady liquidation was
going on. The liquidation which followed the
Barring failure in London in November, 1890,
has ceased, and there is no pressure of securi-
ties upon that market of any sort, and the
supply at both centers is not large Both
English and American financial writer's say
that there is but one way for this vast piling
up of available money to be utilized and that
is in the purchase of stocks and bonds The
process may be a slow one but it is as sure to
come as that the tide GIBBS and flows at regu-
Ia int of To,
the smallest demand influences prices in the
upward direction, and all cable reports both
of a public and private character concur in
stating that an era of speculation is fast ap-
preaching in London, the first evidence being
an improvement in prices of South American
and local securities. That this speculative
feeling will soon reach the stocks and bonds of
railroads and other leading securities
there is no reason to doubt.
GRAIN CHARTERS.
There is more inquiry for ships, but owing
TO owners advanced views no charters are re-
ported. 1t now looks as if many vessels will
load Wheat on owners account rather than
accept current offers for charters. The follow
ing charters are reported: British ship Gar
field, iron, 2,29o tons, Merchandise TO Liver
pool direct; British ship Curzon, iron, ,S15
tons, Wheat, to Cork, U. K, Havre or Ant
werp-owners' account.
CEREALS
Receipts-Flour, 792 barrels; Wheat. 46, ,o4l
centals Barley, 2,O3S centals; Corn, -
sacks: oats, - sacks.
WHEAT-The market has a stronger tone
with more buying or contracting in the in
terror for new crop. The prices paid are said
10 be more than were quoted to the papers.
This is an old trick of the trade. There is a
more general feeling that farmers will be slow
sellers, unless the market advances. If they
would act more in concert there is no doubt
but much better prices will be secured. Our
market is quoted as follows: Shipping, 81 333l
al 3614 for fair TO good; choice TO gilt-edged
81 371291 40; milling, 81 40@1 40 for fair
70 good; 81 471@@1 80 for choice to gilt-edged
Holders ask more money than quoted above.
BARLEH-For old crop Barley our quota
tions are bid, but for new crop july, August
delivery, 92%9964c is paid for fair to good
Feed and 971&c@Sl o215 for choice to git
edged. 1t is claimed thaI considerable Barley
has been bought at the above quotations
The crop in England and France it is claimed
viii be short. The market is quoted as fol-
lows: Feed, fair to good, 9114695c; choice to
extra choice, 96A@9S14c; Brewing, S1@
oAIs-The market is barely steady. There
is some selling pressure on Old so as to clean
up before New crop comes in. The market is
quoted as follows: Feed, 81 3o@l 40 Tor fair
choice; 81 90 for gilt-edged; Surprise, 81 55
@1 60; Gray, 81 371z@1 4215
CORN-The market is dull at yesterdays
lower prices. We quote as follows: Yellow
large, 81 1901 30; small. 81 1901 371a;
White, 81 35@1 371%.
R4E-Ihe market is dull at 81 12%Gl 20.
FUTURES
Trading on Call to-day was light. The at
tendance was small, owing to most OF the
operators being in the country.
AT the regular session the aggregate sales
amounted 10 1, 100 tons, and seller the year
Wheat was steady at quotations OF the earlier
session. one sale of December Wheat was
made at 81 Al.
Seller the year Barley new again opened at
95c and shaded on threeeighths OF a cent
closing at 945sc.
FEEDSTUFF.
Receipts-Bran, 60 sacks; Middlings, -
sacks; Hay, 200 tons; Straw, 20 tons.
The market Tor ground feed was dull to-day
For Ground Barley mIllerS are disposed TO
ask an advance Bran and Middlings are
quiet but firm. The market is quoted as fol
lows: Bran, S17 50@1S 90 r ton; Middlngs
S2o@21; Rolled Barley, S2%@24; Feed Meal,
$2S@3o.
HAY-New Wheat Hay shows decided
Improvement. Some has sold at over SI2 80
= ton but ii IS hardly safe 10 quote as an out
side figure above S12 90. Old continues 10
press the market. IL Will only be ABOUT ten
TO that time the selling pressure is liable TO
continue. The market is quoted as follows:
New Hay-Alfalta. S7@9; Wheat, S9@12;
Oat Ss@10; Wheat and Oat, S9@1I. Ola
Hay-Sl1914 80 q ton for Wheat; S10G12
for compressed; S10a12 for Oat; S1O9l3 for
Wheat and Oat; S10@12 for Wild Oat; S109
il for Barley; Ss@lo for Alfalfa; 5000 for
expenses. Straw is quoted at 4596oc = bale.
DAIRY PRODUCE.
Receipts-Butter, III ctls; Cheese, 19o ctis:
Eggs, ], 40 dozen. Overland receipts-Eggs,
1900 dozen; Cheese, 4 etls.
TTER-The market is lower for all
grades. In a small way gilt-edged dairy
and creamery sold to-day at from one
half to one cent over our outside quotations.
Norton, Teller & Co.'S Eastern respondent
advises them that ladle and creamery Butter
ut the East have Teen advanced owing To a
ecari.ity The receipts so TAR this season. were
los tlaer, lsf-