The San Francisco call., 1896-01-23
TALK OF THE RISE.
A Symposium of Business Men
Agrees That the Future Has
Gold in Store

Up in an airy Office On Market street a
knot of business men discussed the situa-
ton from a standpoint strictly financial.
Harry Francis of the United Trust Com
pany (Limited) of Liverpool, who is said
TO have at his beck and call an unlimited
number of bright golden guineas from the
tight mother isle, seemed to be the presid-
ing genius of the little gathering, though
L. A. Mares, financial inspector of the
Canadian-American Mortgage and Trust
Company, also had considerable to say
while w. \. Harris, the well-known ap-
praiser and general land agent, whose in
valuable services for the firm OF Easton.
Eldridge & Co. have caused him to be re-
garded as one OF the pillars of that house
during his long term in their employ, con-
tributed his quota to the conference.
II tell you, gentlemen" began Mr..
Francis, meditatively stroking we'll
filed pair OF trousers with two hands
which looked as though they had done lit
tie more in the way OF work than caress
tive-pound notes; II tell you, this rise in
prices of California wheat isn't marker
to what is coming. The tide is turning.
The hard times are beginning to break up.
Did you never read about lucky and un-
lucky days? Well, Just as sure as we are
sitting here, California has been through a
most abominably unlucky day, and the
worst of it was the day was full three
years long. But. tell you again, it's over
now and no mistake about it,
''Ioo sangulne, too sanguine altogether" !"
commented Mr.. Harris, sagely. "There's
no such thing as lucky day or an unlucky
one. To be sure it looks as though some
thing was in the wind, but that's no rea-
son why solid business men should start
In building castles in the air like parcel
of children" and here the genial Harris
being by adoption. at least, a Californian,
fell to pulling away at cigarette with
much assiduity.
"Still" persisted Mr.. Francis, '.vou
can't deny that of late people with capital
are manifesting desire to invest in Cali
fornia lands. This tendency fell off nota-
bly, during the hard times, but of late it
seems to have revived. Ii there is any
thing IN this wheat story capital is going
to find a wide field for investment"
"It there IS anything in it, " repeated
Mr.. Mares with some abruptness. Cant
man see by the market reports that
wheat has gone up and gives a promise of
rising yet higher? The crop in Australia
is literally gone to pot They say they
haven't even quarter of the average crop
there. This circumstance is bound to
bring California wheat up to the very
highest notch and keep it there for a
while, too. How then, / would like to
know, can anybody doubt that there is
something in this wheat story? For nv
part L believe there are millions in it."
and MIR. Mares relapsed into silence, as
though nothing more could be said
Anyhow" remarked Mr.. Harris, SEEM
ing to perceive that somebody was ex-
pected to say something, "a great many
farmers have been away behlndhand with
their mortgages. 1t seems all they can do
to raise enough money to pay interest and
taxes. As for principal, some of them
seem to have given up all idea of paying it
back Tor years to come"
NO, sir, retorted Mr.. Francis, with
some warmth; you're long way behind
the times. 1t used to be as you say, but
the farmers are on the verge of an era of
solid prosperity that is going to astonish
the whole country. Capitali is sure to come
to their aid If they need it, and capitalists
may be assured OF prompt and generous
returns Tor any advances they may make"
''Well, well, maybe you're right" re-
joined Mr.. Harris; 'but / know of cases
where farmers have gone to the bankers
who hold mortgages against them and
actually decided over large tracts of land in
order TO get rid of the burden of interest
and taxes which was eating up their little
gains. Why, it's well-known fact that in
San Luis Obispo County some of the prin-
cipal banks have refused to advance any
more money on land because they hgve
more real estate on their hands than they
can manage"
''But that's past and gone" said Mr..
Francis. 81 tell you that state of things is
done with. The rise III wheat is bound to
change the entire financial aspect OF the
State. Capitalists who know what they
are about are ready and willing to advance
money, because they are abreast OF the
times and know they can confidently ex-
peet adequate returns"
II don't know about that" was Mr..
Harris comment. SIN fact | know of
family in the southern country who are so
discouraged by the financial outlook that