The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-12-25
FINANCIAL PROSPECTS.
Calf by l. w. EelIman, President of the
Nevada Bank

employment to great many laborers and
skilled mechanics, have all had the most
beneficial effect locally, and promise to be
even more beneficial in the future year.
The greater employment of labor that
these new enterprises have made possible
has naturally helped along the retail trade
great deal, and the merchants and store
keepers have enjoyed a better business
than for some time before.
In other lines the increase has been felt.
The wine interests of the State did quite
well last year. The price of dry and
sweet wines is more than 25 per cent better
to-day than it was before the combination
which took place in that interest a little
over year ago. California wines are in
creasing their popularity in the Eastern
States. The future of this industry is
very promising.
A great deal of gold is being produced
in this State now. This has and is still in
creasing our circulating medium to very
beneficial extent, which has been marked
all over the State. The large production
of oil in Los Angeles has also had its eff
feet. 1t has reduced the manufacturers
cost of fuel to m aterial extent, and prom
ises great benefit not only to that city, but
to the entire section. Our principal in
dustry-grain-has not been very profita-
bic this year, either 70 the farmers or
shippers, but to some extent the crop has
proven more beneficial than it was the
wear previous, and that in itself is encour-
aging.
Our orchards have, however. done very
well-much better than last year. Our
fruit industry has brought great deal of
i,,to 70 nd hoe ad1aH Y1nt q
little to the present feeling of security
which prevails. In addition to the three
beet-sugar factories already established in
California, two large renneries are pro-
jected and will in all probability be con-
structed during the coming year-one of
them in Los Angeles and the other in Or
ange County. These, 1 take it, are pleas
ing indications for the future. The beet
sugar industry is in its infancy IN Califor-
MIA, but it is growing very rapidly and
promises to become one OF the great prod
ucts of the Golden State. A great many
acres of land will probably be planted in
beets during the coming year. In Los
Angeles and Orange counties the acreage
devoted to this industry is considerable.
Some of the lands along the coast are
excellent for sugar-beet raising, and
think can confidently bespeak a great in
crease in this line in the very near future.
We have enough good land in this State
! suitable to sugar-beet culture to supply the
| entire United States with sugar, and when
| our farmers realize once the advisability
| and profitableness of planting DIVERSE
! fed crops, instead of grain only, thoy will
| find, / believe, that In most instances
/ sugar beets can be raised in connection
with grain, greatly to their own benefit
| and profit. There are many indications
| now that the farmers are awakening to the
! Importance of this course, and in these
| indications one can see much hope for the
| farmers of California. When these con-
! ditions have been realized, or even partly
so-as l believe they will be very soon
there will be decided change for the bet
ter among the farmers and a return to
them of degree of prosperity they have
not enjoyed for several years.
A great deal more might be said to
prove the statement made at the opening
of this article, and vet l doubt if anything
further that / could say would serve to
strengthen the case much. On every hand
the observant man will find much to en-
courage him, much to strengthen his be-
lief in the future Of California, much to
brighten the prospects of the coming year,
much to encourage him to push on the
good work that all must do for the future
of California.
And what has been said of California is
in large measure true Of the entire
country. Bankers as rule are not given
to optimistic views, but 1 think it can be
safely said that the United States in gem
eral is entering upon an era of prosperity.
There is feeling of confidence in finan-
cial circles all over the country, and I
think there is no part of the country
; whose future is so bright as that of Cali
fornia.