The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-04-16
I0QhI CI[In 0r 00MM[DGE
LUUnL llLLU vi UUIVlIIILIlUL
A Favorable Outlook for the
Growers
DEMAND FOR SEEDLINGS
Inside Information About Handling For
eign Stock
The Silver Situation as 1t Appears to Eastern
Y Business Reviews-LocaI Pro-
duce narkets

The week opened very favorably for the
orange growers, and the outlook for the
balance of the seedlings remaining in
Southern California is decidedly favor
abb. The cut in prices by the fruit ex-
change has had the effect of securing q
good eastern trade. and this has come
Just as the market on foreign stock COM
menced to improve. Reliable informa
ton has been received as to the modus
operandi of the eastern speculator IN
handling foreign stock The majority of
the stock received has been shipped on
an advance to the grower of 81 per box to
cover cost OF fruit, picking boxing, box
material and loading. Box material is
exported from Maine, and costs, laid
down at Mediterranean ports, about u
cents per pox.- The firm making the adj
vance must also stand freight and duty
Iabout "a cents.) Add to this extra cost
of carriage and handling at this end of the
line and it is easily figured that when
Messna stock sells at 81. 10 to SLIGO. as in
the past three weeks. the American specu-
1ator gets SICK. especially just as his mar
ket shows signs of improving. Home
prices are fixed so that he is virtually
knocked out.
& 4 4
Dun's review of business and finance
lowing about the condition of silver:
Interest in bar silver did not decrease
this week, and the course of the quotati n
for bullion had considerable effect upon
all the speculative markets. Early in the
week the highest price of the current
aided by the small offerings by New York
dealers on London bids. The Chinese
Japanese peace negotiations accounted
for the rise, which was plainly due to
speculation, rather than to any increase
of legitimate demand for consumption
here or in London, or for shipment to
Eastern markets. Shipments of silver
from London to the East SO far this year,
have amounted to 60, 030, 6S5, against e. :
7,012 last year for the same period.
India has taken 81, 116, 100, against f1.-
79S, 710, China f777 $50, against 1851 002,
On Wednesday afternoon, however,
the speculation met with a setback
the London markets actual close being
301sd. against 30sad.. the official price
made earlier in the day. New York de-
clined correspondingly, offering much
more freely on the lower prices from Lon
don. There were evidences at the same
time that sales of reserved silver were
being made here, and the same kind of
Operations made the market feverish all
the rest of the week. London's decline
was cansed primarily by poor inquiry
rupees being sold out of 60 laks offered.
Following this came the rumors that the
Chinese indemnity to Japan may not be
paid in silver, which served to prolong
the decline in the market. Prl-
vate advices were received from Lon
don that representatives of the Chinese
Government have been negotiating there
with reference to an indemnify loan, and
the silver market concluded from this
that the indemnity may be made upon a
gold basis. This might mean that the
Chinese indemnity would be used as
banking capital to Japans credit in the
principal cities of Europe, to be judi
oiously used there to make such purchases
of silver as may be required to repay the
internal loans of 250. 000,0 900 yen Silver
made during the war. Much capital has
been made by London spectators out Of
the proposed monetary conference, this
serving to offset the talk of Chinese
gold indemnity. In this country there is
fair demand for silver for consumption
and the New York Assay Office has kept
actively at work to suppl the demand
for assay bars bought in expectation of a
fuyfhar odv in tho ,,rico