The herald., 1896-12-15
Local, Eastern AMI Foreign
Commercial Dealings
WALL STREET SPECULATION
The State Dairy Interest as II Stands
Today
Substitutes for Coffee Make Great Gains in
Germany-A Peculiar Situation in the
London-New York Money Market.

bureau can obtain, there are in this state
103 creameries Individual, cooperative and
stock companies) manufacturing butter by
separator process. OF that number 119 are
operated by individuals and "a by co-opera
tive and stock companies; II of that num-
ber are manufacturing both butter and
cheese. There are u cheese factories re-
ceiving milk from patrons, manufacturing
cheese exclusively. The balance of cheese
Is manufactured by Individual dairymen
and by creameries manufacturing both but
ter and cheese.
From reports received by the bureau, and
other information, there was manufacture
ed in this state for the past year, ending
October l, 1896, by separator process. 49,,
097,323 pounds of butter, and 21,50S, III
pounds by the old dairy method. Total
amount of butter manufactured in the
state for the year ending october /, 1896,
was 81 sos, ,44O pounds.
From reports received by the bureau and
other information there was manufacture
ed in the state for the year ending October
I, 1885, 6,SsS, 1870 pounds of cheese.
The counties manufacturing the largest
amount of butter by the old and new pro-
cess are Marin, Humboldt. San Luis Obs
po. Sonoma. Monterey, Santa Cruz. San
Mateo and Los Angeles. The counties man
ufacturing the largest amount of cheese
are Santa Clara, San Mateo and Los An
gees.
The following shows the value of the
dairy industry of the state of California
FOR the year ending October /. 1896:
value of 81 6o5, 40 pounds of butter. s.. .6ss-
9.e; value of 65Ss. 1870 pounds of cheese $47s.-
7s4: value of 45,5e26OO gallons of milk con-
sumed. 81. 062, 460: value of calves from dairy
cows S642'994; value of pork produced at
sS1, ,O67 w ''N'' "'''''''' '''a'' 'i-
Amount of eastern butter received in the
state for the year ending October /, 1896.
60S200 pounds. Amount Of eastern cheese
received for the same time. 6S9. $40 pounds.
The first creamery erected in the state of
California was the Humboldt creamery,
near near Issd Irserndais, Humboldt county. in the
year 1852. A few separators were used by
Individual dairymen before that year.
1t is stated that coffee consumption is
fast decreasing in Germany on account of
the many coffee substitutes in the market.
On this subject a consul has this to say:
The market suffers from the enormously
increased consumption of substitutes for
coffee They are composed chiefly of malt.
ihese malt cofees are slightly matted and
lightly roasted barley, sometimes also
sugared, and needless to say. contain
nothing whatever of those properties that
render coffee itself valuable. Roasted
sugar beet mixed with chicory is also
widely consumed: These compounds pass
toria coffee they are very cheap and cost
less than 2d. per h. No wonder that tea is
gradually obtaining favor even with the
lower middle classes. the more so since tea
Is the fashionable refreshment of the upper
classes. and 1t appears only a question of
time when the Germans will become as
large consumers of tea as the English
speaking people. Apparently no article
has so great future as tea"
Estimates as to the amount of bills Of
foreign exchange that have been taken up
since the election by international banking
houses here and used as the basis for loans
in the New York money market vary
greatly. There is. however, no doubt that
the transactions in question reach a very
imposing total and the sum of the sterling
b,ls thus being carried supposed to be he
Is new one in international finance and
has naturally been the subject of some mis-
underst tanGirg. The motives of the houses
whtich are taking this action are. however
becoming better appreciated. and sufficient
light has been thrown upon the situation
to permit of clear ideas both as to the
causes for ii and the effects which 1t is
likely to produce
The novelty of the matter is that 1t ap-
parently involves borrowing by London in
cur money market. Not. however in the
ordinary acceptance of the term. London
on New York at sixty and ninety days and
sent them here to be discounted. The Lon
don money market, however. is relatively
nrmer than our own and the financial COM
munfty there has been nervous as to the re-
suits of an expected demand for q large
portion or the Bank of Englands gold bal
ances IN connection with the expected re-
form or the Russian currency, coupled with
the Likelihood of a movement of gold to
india and the large debts arising from
Europe's purchase OF American breadstuffs
and provisions s.-Bradstreet's.