The herald., 1895-08-09
Henry CIews' Weekly Review OF
Financial Matters
THE LATE GOLD SHIPMENTS
Effect of Business Improvement and the
Big Corn Crop
A Fig Producer Who Found the Business
More Satisfactory Than 1t Is
Commonly Regarded

Henry Cews, in his weekly financial
review, says that in the speculative arena,
the contest between the higher and lower
sides still wages fiercely, with varying
results. The bears mainly concentrate
their forces on the industrials as being
both intrnsically and trategically the
weakest. The bulls direct their sup
port. with much firmness, to the railroads.
and especially the grangers. With ups
and downs in both groups of stocks.
however, prices do not on the whole vary
materially.
There are those who assume that the re-
ceht large new negotiations Of our secur-
tiles in Euorpe will be continued to such
an extent as to bring gold to this coun-
try, overlooking the fact that. even should
such prove to be the fact, there will BIZ no
way by which the incoming specie can
get into the treasury when the syndicate
has closed its operations. 1t may be safe
ly taken for granted that London and Ger
many will be distrustful toward us until
some real and permanent protection of
the treasury reserve is provided; and that
fact is standing menace to exports of
goln from this country. There is no
very unwise sort of optimism for finan-
ciers to shut their eyes against it.
These are factors, however. which are
not exerting much force at present. Just
now the market is in control of strong
hands who see in the excellent business
outlook and the prospect of big corn
crop the best OF arguments for lifting
the market to higher level. The stub
bornness with which stocks are held is
much in favor Of such manipulation.
When stocks refuse to decline, as they did
with remarkable persistence in July. the
trading element who are chiefly inter.
ested in activity are apt to try their sue
cess in putting them up still higher.
There are not few large operators who
would like to see the market have an ad-
ditional advance. so that better reasons
present offer. August is frequently a
month of rising prices; and while the
more distant future demands caution, it
would cause no surprise If those now in
control uf the market succeeded in OBJ
tanning better prices before general real
izing sets in.
Daily Journal: There has been much
disappointment among growers of figs in
this state. Some have made good money
and others, tempted by their success.
have planted figs and failed to make any
thing. The troubles experienced have
been varied, the principal one being that
the wrong varieties were planted.
That good profits can be realized from
| figs is Illustrated by the experience OF E.
Luke of West Los Angeles. Mr.. Luke has
| fifteen acres of fig trees which were
planted five years ago. Eleven acres are
| set to the White Smyrna variety and four
acres to the White Pacific. The latter
variety has been failure, but the former
has made up in a measure for the disap-
pointmsnt arising from the worthlessness
OF the other kind. Last year the eleven
acres of White Smyrna produced seven
tons of fruit which sold for $40 per ton
for crystailizing. This year new fac
tory has been built at Hollywood, mile
and halt from the orchard. The factory
offered Mr.. Luke $40 per ton tor his crop,
which itIis estimated will turn off fifteen
tons, and the offer was accepted. By
waiting little $50 could have been real
ized. but Mr.. Luke IS very we'll satisfied
with the returns upon his 5-yearold crop.
If fruit growers could be assured of such
returns every year there would be an un-
precedented boom in fig planting.