The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1896-05-27
Local, Eastern and Foreign
Commercial Dealings
WALL STREET SPECULATION
Falling OF In the Australian Wool
Clip
The Sugar Trust and Imports From Europe.
Large Export Of silver-Scarclty In
Young Orange Trees

Consul General Maratta at Melbourne
says: For several years past the wool
clip in Australia has been falling OH. In
1891 when the down grade commenced, the
number of sheep In New South Wales, Tor
example. was 81 ,5S1, il6, while last year they
numbered Al 433, 1872. Between 1894 ana 1873
alone the decrease was 9,50O.OO0 sheep,
greater number than In any previous year.
The decrease during the drought OF 1877
was less than 4,00O, 600, and even the great
drought of 1894 left New South Wales with
only $3.50, 900 fewer sheep. The decrease
during 1895 reculted from two causes, a
disastrous drought in many districts, ana
the fact that the clip of 1894 was unduiy
augmented by the great shearing strike
OF that year, which by delaying swearing
gave the clips of many stations too much
growth
There are strong rumors that the sugar
trust intends abolishing Its present factor
or agency plan of selling at an early day,
by reason of the serious inroads made upon
its trade by the foreign refined granulated
sugar. Thus far this year the imports
of foreign granulated are larger than d' dro
ing the Of ast y IS ey oo
dous Increase for only four months. All OF
this increase in the foreign graduated SUI
sDns Probaby the Greater
tion of 1t has been absorbed by the latter,
many of whom secured their sugar from
ITSL nHnQS QelOTe tHt lhCtoi pldil WChe
into effect. A great many large retailers
who formerly did the same thing are also
using foreign granulated sugar, ana even
the smaller retailers are coming to take
1t up Tho object of all these classes Is not
revenge upon the trust, but the fact that
the German granulated sugar, while prac-
tically as good costs a substantial fraction
less than the trust product. Every advance
In the price of domestic granulated sugar
increases the sale of the foreign article Gle
past few months, but not in the proportion
of the domestic product; hence 1t enjoys
n great advantage.-Philadelph Grocery
World.
A good deal of attention is being attract
ed In financial and foreign exchange cir
cles to the increase of late in the amount
of silver exported. as compared with last
Sterling EXCHANGE d IS for Of b e9q ne
pose, therefore, 1t is just as efiicacious In
preventing gold expectation as wheat. cot
ton or any otnef in Value to
$500. 233. From January 1st of this keAr up
TO the close of last week the silver exported
amounted to $1S,01, 45O, as compared with
81, 20,2S3 during the same period last year;
an Increase of So, 95l,257. In the Same period
this year-.from January, to May 2d1the
against ssl .ss7, 7ss in the same period last
year, or decrease of $13, $50. 375.-San Fran
cisco Commercial News.
For several years past the price of young
orange trees has been very low, owing to
comparatively small demand. The deStruc-
tion of the Florida orange groves resulted
in fair prices for California oranges dur
ing the season Just closed, and as 1t will
require five years to re-establish the Flor
ida crop, II that is ever DONE. there IS
quite a little boom In the setting out of
orange groves in California. This comes
lust at a time when the nursery stock Is
almost exhausted. as the low prices had
caused nearly every one to cease budding.
AS recently as three months ago good
navel stock was sold at 10 to 20 cents per
tree. Thousands have been planted and
there are many thousands still needed to
plant ground already prepared 1t is stat
ed that San Bernardino orange growers
still need 10000 young trees to complete
their planting In some of the Northern
counties large paintings are contemplated.
one man having 400 acres in a body ready
for the trees. The natural result is that
good navel trees are now worth 81 apiece
and some think the price will go as high
as in 1889 when people quit swapping COM
mon lots and returned to legitimate bust
ness, namely to 50 a tree. In that year The
Herald published a statement made by
Mr. Preston of Azusa that he had realized
Two acres of land. A couple of years ago
the papers of Los Angeles published tho
statements of a witness made under oath
before one of the courts to the effect that
coming here in the BOOM" an invalid, he
rented little range at Sierre Madre and
anticipating the return of the people to
sound business enterprises he learned how
TO grow and bud nursery stock. and in
Ave years cleared up $4,000 profits, which
he then had invested in income business
property in Los Angeles.