The record-union., 1892-07-04
COMMERCIAL.
Financial Review of the Market at
San Francisco.
Trade Generally Suspended Until After
the Fourth-Fruits and Vege-
tables Do Well.
Especial Correspondence REcoRDUsros.l

10
SAN FRANCISCO, July 2, 1892.
The wholesale stores were closed to-day
and IN consequence there was no business in
general merchandise. The fruit, vegetable
and poultry stores did large business owing
to Tree local, summer resort and shipping
demand. The stores for perishable goods,
fruits, vegetables, etc., viii open for an hour
or Two on Monday and then close for the day.
houses In other branches of trade will re-
main closed on that day. On Tuesday busi-
ness will be resumed in all branches. 1t is
Claimed that on the morning of July 9th
there viii be a good shipping demand for
Huft to be sent up North
Ihe local money market the past week
ruled easy with the rates of interest more in
borrowers favor. It is said that bankers and
outside capitalists do not scrutinize one and
Two named paper and other coIlaterals as
closely as they have done for the past three
or four months. If this is the case, and we do
not see any reason for doubling it, then ii can
be accepted as an evidence of returning conf
dence, and with confidence restored more ac-
tive times can be looked for. The usual
seml-annual, quarterly and monthly dis
oarsements to be made in this month, on
accrued interests and dividends Will aggre-
gate very large, running it is claimed, into
the millions. OF course, these disbursements
viii be made by the State, counties, cities, in
corporated companies and private firms. To-
ward the close of the current month an active
inquiry for funds is expected to set in from
parties desiring loans on grain or other
equally as tangible security. Eastern and
European mail advices continue to report
easy money markets with an over-supply of
loanable funds
Telegraphie adviees received on yesterday
stating that the United States Senate had
passed Senator Stewards bill remonetizing
silver in the United States is received, so far
as the writer was able to find out to-day. with
q general feeling of satisfaction All branches
of trade have been so greatly depressed, and
the Life, If one may so express it, taken out of
business in general that any change is vel
come in monetary affairs which is calculated
10 instil more activity in financial and com
mercial affairs. There is no denying that the
instability of silver bullion, made so by
moneyed syndicate for speculative purposes,
has contributed no little in destroying conf
dence and also business grounded on legiti-
mate rather than speculative basis. The
fluctuations in silver, of which metal fully
one-haH Of the worlds trade is done in un-
settled exchanges, undermined finance and
injured the financial standing of several
nations OF necessity, this has been and is
still severely felt, and consequently many
leading financial writers at home and abroad
are turning towards bimetallism as the open
sesame for more active and prosperous times;
at any rate the end sought to be attained,
they claim, deserves the experiment
Some very singular and interesting features
in the trade of this country is revealed by
official statistics of the foreign exports and
imports. A study of these statistics for six
years past, ending with May 31st of each
year, shows:
First-That the trade balance in favor of the
United States on the interchange of merchan-
disc and silver in the three years to May 81,
1892, has been over three times as great as in
the preceding years; or, to put it more plainly,
In the three years to May 81, 1899, there was
total of 1886, ,979,143, as compared with
S1o6,465,349 in the three years to May 81,
1889.
Second-!That Notwithstanding this enor-
nous increase in our favor we have made net
exports of gold in the last three years to the
amount of S73,798,566 over the imports of
gold Cthis country's production within that
time was little over 500, 100000 whereas
in the preceding three years to May 81, 1883,
when the total trade balance in our favor was
less than one-third as much, the net imports
of gold over all exports were 81 s, ,454.S27.
In the three years TO May 81, 1889, we re-
cefved in merchandise, gold and silver, total
OF S%,3o2,2oo, al, and exported a total of
S2,33l, 229,13o, so that our total net pay
ments on our foreign Indebtedness for interest
on American securities held abroad were only
$2S,962,6S9. But in the three years to May
81, 1889, we have received In merchandise,
gold and silver a total of SO, 2,591, ,o34,336,
whilewe have sent out in exports total of
$4,000, ,S12,255, and have consequently
made payments to the extent of S4o9, ,777,-
919.
CEREALS.
There was no trading to-day, for all places of
business were closed.
George a. Abel, official grain inspector of
the san Francisco Produce Exchange Cali
Board Association, has prepared the usual
monthly statement for July 1st, showing the
stocks OF grain in all Cali Board warehouses
as follows: