The San Francisco call., 1896-10-04
The Advance in Wheat Will
Bring In Much Money
From Abroad.
BIG BUILDINGS ARE GOING UP.
Inspiriting Outlook for Mining De.
velopment and Large Ship.
Building Work.

the only manifestation which has caused
certain merchants to express the opinion
during the past few days that the local
situation is Frightening. The condition
of the hide and leather market has i'm
proved materially, short stocks encourag-
ing the hardening tendency of prices.
The dried-fruir market has also taken
forward move. Prices are better, the de-
mand for supplies is better, and the East
ern dealers have expressed confidence that
the demand will continue.
The amount of money that will come In
from these sources into the State can
hardly be estimated with even approx
mate accuracy at this time. No one can
foretell the top notch that wheat may
reach. The phenomenal news that there
is shortage in India in the wheat crop.
which California must make good, has
awakened curiosity and piqued specula-
ton in some degree.
The rise, which has been quite steady
from the inception of the upward move
ment, has taken along barley, oats, corn,
rye. hay and -four, e quotations from
day to day have been given in The CALL,
so that there is little necessity for repeti-
ton here. One striking fact is that there
were fifty wheat charters reported in
September of vessels arrived here, which
is the largest numbr for any month in
two years. Hundreds of thousands of
dollars will come in from the sources
enumerated more than could have been
anticipated few weeks ago.
The money that will be disbursed by
reason of the contracts to build war ves-
sells for the Government in the near future
by the Union Iron Works will, according
to Irving M. Scott, amount to 100000 per
4. I...s j i
two vessels. the battle-ship and the
torpedo craft. When the Oregon went
away from the yards 400 men who had
been working on that vessel were neces-
sarily laid off. The new contracts with
the Government will put them all back.
In addition to this there is strong proba-
biiity that the contract for cruiser may
be secured by the Union Iron Works from
the Japanese Government, according to
general belief. The wages of the Union
Iron Works have amounted to about
$1O0, 900 per month for the last six years.
The large public buildings for which
contracts have been awarded, added to
the large structures projected by private
enterprise, will, according to good author
large buildings. There has been, as
matter of common knowledge, a large
falling off in the number and total value
of smaller buildings under construction,
but that the average of large buildings Is
kept up points surely to the fact that the
capitalists foresee the growth of San Fran
cisco with certainty.
ket street is the huge building for THE
| CALL, on the southwest corner of Market
and Third streets. The Hearst estate
| which owns the Nucleus building, on the
southeast corner of Market and Third
| streets, has purchased the leases of all
tenants in the building, and after January
1, 1897, will be ready to improve the prop
erty. The expectation naturally is that
the improvements will involve the ex-
penditure of large sum in total.
Some of the other large buildings for
which contracts are let, and the most of
these buildings are under construction,
are mentioned in this connection. The
| figures are derived from George H. Wolfe,
editor of the Building News and Review.
The contracts for the ferry building call
for an expenditure of $3.50, 900, but the
actual cost may considerably exceed that
sum.
The amount to be expended for the af-
| fliated colleges connected with the Uni
versity of California is limited by law to
| $3.50, 600. The contracts so nearly equal
| this sum that the compensation of the
architects has been otherwise provided
| for The sum of $500, 600 has been appro-
| priated for the new municipal building at
| Washington and Kearny streets. Archi-
| tects say that it will cost much more than
| that sum.
These three public works represent over
| 81 900, 900 to be expended. The full
| measure of benefit will not be derived by
San Francisco that would be the case if so
| much material were not brought from
abroad, especially iron work and terra
| Gotta.
| The following buildings of large cost are
| to be considered at this time as Indicative:
| The Clark estate building on Market and
Bush will cost 100000. The Spring Val
| ley Water Works building. to stand at
Geary and Stockton, is estimated to cost
$3.50, 900, the iron alone costing $50, 600.
| The Hobart building on Post street, below
| Stockton, will cost about $40 600. Then
there are these buildings: Royal Eagle
Distillery building, at Ellis and Mason,
$40, 900; the Gas Company building. on
Post, above Powell, about $40, 600: the Nc
Carthy building, on Market street, near
Spear, $40, 600.
The Valley Railroad will earn many
thousands OF dollars for the farmers of the
San Joaquin Valley, from now on, in the
movement of their crops. in the lower
transportation rates which have been es-
tablished by it, and intelligent observers
believe that this road will be prime
factor in aiding the rapid development of
the State and of San Francisco.
There is rumor that the great Mari
posa grant is about to be sold. That it
has been sold is denied by Mr.. Cross, the
president of the company owning it. But
there is a great amount of capital liable
to go into the development OF California
mining properties in the near future. Ex-
perts from Europe have been out on the
mother lode in force. Should the rumor
prove true that a foreign syndicate is
about to acquire the Mariposa grant that
would necessarily imply activity on a
large scale and the putting in of great
sums in development.
Colonel w. B. Sumner of w. B. Sumner
& Co. spoke yesterday of the improved
situation OF hides and leather. Dry hides,
since the Maine and Vermont elections,
have made sharp advanc- of / cent per
pound. California oak leather has ad-
vanced from q to 1 cent per pound and
the business outlook is much better in
New York and Boston and Kansas City.
The outlook is much better than at any
time since last July. This is due to the
promise of stability in the National firian-
cial policy held out by the political indi-
cations in Maine and Vermont.
Concerning the improvement in the
market for California dried fruits, Colonel
A. E. Castle and Maurice Loewenstein of
Castle Bros. say that confidence in the