The herald., 1895-04-10
Little Change in the General
Produce Markets
A RISE IN THE PRICE OF EGGS
The Result of Little Corner Quietly
Worked
The Orange Situation Becoming Decidedly
Strained-The Improved Con-
ditlon of Silver

fornia Fruit Exchange will be held in
their rooms in the Phillips block today to
straighten out matters and take such ac-
tion as the exigencies OF the case require.
There remain about 2500 cars of oranges
in Southern California, OF which about
1900 cars, roughly estimated, are seedlings.
The season is already far advanced, and
something must be done at once to move
the fruit which is ready for market. For
eign importations keep up beyond the
normal, and this of course keeps down
prices. There are from fifty to sixty cars
at Duarte alone that must be got out OF
the way within the next few days, and
other localities are in the same condition.
The st ock of navels on hand is not large
enough to cause any uneasiness, and 1t is
believed that they will be marketed with
out any cut in rates.
In discussing the silver situation, Brad
streets has the following under heading
"I.nproving Silver Prospects"
Among the surprises OF the recent
financial situation have been the apprecia-
ton in the price of silver and the conse
quent bullish movement in what the Lon
don market calls silver securites-that
it's, India's obligations. and so on. 1t has
been supposed here that the prospect OF
another international monetary confer
ence was effective in producing, the I'M
provement in silver values. and that the
decreased production which has resulted
from the low prices had left the market
in a position where response to such IN
fuences was necessarily prompt.
'While these factors have not been IN
operative in the matter. it would how
ever, seem that the prospect of peace
between China and Japan is the i'm me-
diate active moving cause for the rise.
Indeed, the London Statist of March l6,
in discussing the topic. puts it very blunt.
ly that the advance in silver is purely
speculative, and that the profits of specu-
lators who have been purchasing silver
that peace between the two warning
Eastern nations can be arranged. Accord
ing to the authority in question, India,
which had been a buyer since the begin
ming of the year, has stopped its pur-
chases, while there is little real demand
from either China or Japan. the buying
being therefore purely speculative. Con-
tinuing, our contemporary observes: If
the Chinese government is at last con-
vinced that it is hopeless to resist any
longer, and is willing to submit to what
ever terms Japan may impose. then there
will probably be a sharp rise in silver, for
everyone expects that the main japanese
condition will be a large indemnity from
China.
China has not the means OF paying a
large indemnity except by borrowing.
And it is to be presumed that if China is
able to give the requisite security, so as
to obtain the amount required very
considerable proportion of the proceeds
will ba taken in silver. If that turns out
to be the case silver must advance. But
"a rise in silver brought about by tenn
porary demand must, in the very nature
of the case, be only temporary. If, in
deed, it be another condition of peace
ha China shn11 hp nnpnnH a nd If the
Chinese honestly carry out what they am
dertake, it is possible that there may be
steadying of the price of silver, and that
gradually there may be even a further adj
vance. Even if the population of China
only about 300, 600. 900, that population
is so immense and the resources of the
country are so vast that ii once there is
industrial enterprise of the European
kind, there will inevitably be a great in
flow of silver to China, and that cannot
fail to have great influence upon the
price OF silver. But our readers will do
speculation. Nobody knows whether
China is yet convinced that she has to
yield. Nobody knows what the condi-
tions of peace will be; nobody knows, in
short, what will follow. All that can safe
ly be said is that a large demand for sill
yer by China would send up the price of
the metal, and that there would be fall
afterwards if the Chinese demand came
to an end. On the other hand, if China
is opened up, and if there is a steady de-
mand for silver, the price of the metal
must improve
However Just these qualifications
may be, it would scent that the market
has not been impressed by them. On the.
contrary, the upward course of silver
prices has continued almost without in
termission. On March 10th, when the
article from which we quote was pub
lished, the quotation for commercial bars
in London was % 1-Sd per ounce. Before
the close of the present week it had adj
vanced to 20 1-Sd per ounce, the strength
of the market giving little or no evidence
OF dimnution. OF course this does not
initiate against the view that the move
ment is speculative. In fact, the growth
of speculative tendencies in other direc-
tions would be eminently calculated to
foster such demonstration IN connec-
tion with silver. Moreover, the peace ne
gotiations between Japan and China are
actually in progress, although, of course
as our con sem porary remarks, nobody
knows whether China really appreciates
her plight and the necessity she is under
of yielding. A feature of the situation
not without interest is the better position
in which the advance of silver puts the
government of British India"
In speaking OF the recently lnaugu
rated refrigerator service OF Armour &
c., the Pacific Rural Press of San Fran
cisco says:
+" 1t is fair to presume that competition
in refrigerator car service will rebound
to producers benefit. as competition in
other branches of transportation does.
At all events. those having perishable
products to ship will be glad to see the
experiment tried. Nothing can be worse |
than the present exorbitant charges.
The plan of Armour & Co. to put a new
line OF their own refrigerator cars on has !
already been mentioned in the Rural,
and more definite statement of their |
purposes is interesting. The manager of |
the enterprise is now in this state, and !
he has published schedule of charges |
which the new company proposes. 1t APP
pears to give material reduction on the |
old rates, varying from S35 per car, Sacra-
mento to Chicago, to $50 per car, Sacra-
mento to Boston. This. it isS claimed, |
does not include all the reduction, for |
the rates quoted are irrespective of |
weight, as they propose not to charge |
extra in excess over "a, 600 |
pounds. One other feature of the new |
tariff will be the still further reduction |
on cars that are forwarded with the venti-
lators on to the main icing station at
'Truckee. Much of the fuit shipped can |
be forwarded without detriment in this |
way. In fact, it mas been claimed that |
IN some instances where cars are loaded |
in the afternoon and can be forwarded |
the same night the fruit is benefited by
the cool air blowing through the car dur
ing the night The cOmDanv stat tes that |