The morning call., 1893-07-21
NO RELIEF YET.
FruitaCanner and Farmer
Disappointed.
BANKS WILL NOT ASSIST.
Bad Prospects for the Fruit-Packing
and Growing Industries Because
Money Is Tight.

A meeting was to have taken place yes
terday between representatives OF promi-
nent frui.canning houses and bankers al
the Clearing house. The purpose OF this
conference was intended to be an en-
deavor 10 make some arrangement where
by the Gamers could get temporary ac-
commodation from the banks.
For some reason which the bankers were
inclined to keep to themselves the meeting
did not take place. The Gamers were
disappointed. but the Clearinghouse
people said nothing could be done-at least
at present
About three weeks ago the leading can
ners sent letter to the Clearinghouse
setting forth the condition OF the canning
industry and asking for accommodation
that was customary in other years. The
clearinghouse considered the cOmmunlca-
ton, but reached no. definite conclusion
other than leaving the matter with various
commercial banks. Instead of coming to
the rescue it appears the judgment of in
dividual banks is not favorable to loaning
money on securities that used to be freely
taken. They extended no assistance to
farmers and packers to husband and pre-
serve the fruit crop of California. A
second appeal was made. and it was
understood that the question would be
settled Yesterday, but as time passes
prospects grow DINNER with the Gamers,
and mean nile the banks are "conserva-
tive"
'The Clearing house has recommended
bankers to accommodate the packers as
far as possible" said the president of that
institution yesterday. There is con.
slant demand for money. and the banks
are trying to supply money for legitimate
purposes-paying wages Of men and
freight Of vessels. They are pursuing a
conservative course, and there is more
confidence now generally. For the pres
ent there Is no money to advance on wheat
in country Warehouses and it may be the
same with regard to the fruit industry.
though some money is being loaned to
cannefs.
mo official action has been taken by the
banks" said John Il. Cutting, land since
the letter was sent to the Clearing-h house
nothing has been done except quiet talking
with bankers. In previous years the banks
assisted materially to aid Gamers in
moving crops, but this year, up to the
present time. they have done nothing.
All the Gamers wanted was money enough
TO gather the green fruits and pay labor
a matter Of S750,000 is needed to provide
for those two items, the canners them
selves paying about $1.500,000. Three
months ago the crop was estimated at
80 COO tons at $50 ton, or $1,750,000 in the
aggregate. To-day the same crop is SELL
ing in boxes at $25 ton"
"Why?" was asked.
mo market for it," was the prompt
reply.
And the cause for this low condition ?"
Lack Of demand and of means 10 handle
the crop. That is lack of money. All
con fidence in the value of the crop is de-
stroyed. The lack of means to handle the
goods implies stopping consum otion Of
paper. sugar, boxes, tins, ETC., and loss of
wages to about 5000 or 1000 men. women
and children. The country canneres are
nearly all closed, and altogether not over
10 per cent of all the canneries Is rnnning."
at takes $4,000. 900 to produce the years
output OF canned fruit 10 this State" said
W. F. Beck. "Up to this time last year
half million cases were sold, but this sea-
son l don't believe fifty cases have been
sold yet. signed the letter to the Clear
ine-honse. as nearly all the leading can
nerS did, but we cannot get accommoda-
here we are, lying back and waiting. And
the fruit Is ripening or rotting on the trees.
Warehouse receipts are no good rs secur-
tiles this year. and when that is the case
1t is hopeless to expect accommodation on
fruits"
Other representative packers of fruits
have the same story to tell. They are
waiting for the banks to lead them out of
the wilderness, but some Of them complain
that it is like hoping against hope.