The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-09-29

month ana considerable excess over business done
year ago, particularly in the ecessaries of life;
put second, 1t appears that the volume OF trade az
present is on the Whole considerably less than in
normal year at most points, and in the more inn
portant trades IS apparently about 20 per cent
smaller than In September, 1892.
evidence of continued Improvement in whole
sale trade sud manufactures does not appear this
week. 1here is large distribution OF orders,
given some time ago. but new business going to
the manufacturers is everywhere slackening. The
competition Tor orders for repeIishment OF
stocks leaves narrower demand, and it is yet too
early for consumption to provide further orders.
The depression prices CT farm products will
have some influence. Unprecedented records
nave been made made ia cotton and wheat,
though as to wheat only in contracts for future
delivery, in which the prices are the lowest ever
made, The available stocks are about 10. 0O0,0 900
bushels greater than year ago, and Western re-
ceipE for the week were 5,252,7l6 bushels,
against &, ~ O34 last year, and since August l
5l.0OO,000 bushels against 80 .000 900 last year.
The Atlantic exports for the week and since
August have been about a third smaller than
last year: but the fall in prices during the week
has been I75c. Cotton on the spot is lower at
o.44c than at any other time since 1889, and quo
tations then did not mean what they do now,
while tue nearest option has been quoted at SU4c,
which Is below all previous records. Even al the
clo~e the rall for the week Is u. Estimates of
9,oOO,oOo Oaies minimum this year has Influenced
the harket, but would receive less attention If
stocks In sight were OF heavy. while all agree that
this crop is likely TO exceed the worlds record of
american cotton. IL is encouraging that the
speculation in Corn has broken. and the price
has fallen sc. less gloomy estimates than those or
the department. having gained general credenee.
1t is now supposed that the Yield is not far from
l,5O0OOO,000 bushels, which will compel much
economy In feeding, but speculation in Pork has
also broken and price has fallen Use, while Lard
has gained 1ac
The iron industry shows a shrinkage OF demand
and the prices quoted to-day but little above
the lowest this year. Bessemer pig iron is weaker
at $ll at Pittsburg. with an impression that an
excess OF production must cause further decline
unless further prices are made for steel rails
Billets, structural forms and nails are shade
weaker and in Eastern markets competition of
works to get business tends TO destroy profits.
There Is more demand for sheets ana Tor bar in
small lots reported from Chicago aud for coke
pig. though plates and boiler tubes are weaker.
The boot and shoe manufacturers continue to
lead others in comparative activity, and ship
meDts from Boston for the mouth have been
SSS,OIS cases, against 22.623 last year and 32S,-
100 in 1892
Failures are few and small, for the weeks liza
bilities amount to only S5,27S,2S5, of which
SZ.3S2,3l3 was manufacturing and $2,575,l12 OF
trading concerns The failures during the week
have been 2S5 in the United states against 1874
last year, and 55 in Canada against SO last year.