The San Francisco call., 1897-05-10
COMMERCIAL PROSPECTS.

Trade throughout the country is pro-
crossing on conservative lines. The tariff
continues a disturbing factor and com
mercial interests every where are anxious
to have the bill passed, so that they may
know what to do Nothing stagnates
business like uncertainty. Speculation
ceases, merchants buy only from hand to
mouth and values are all at sea. This was
shown last week by the sugar stocks,
which fiuctuated sharply on news OF tariff
notifications. The whole country will
breathe more freely when the bill is
passed and business men learn where
they STAND.
But, as has already been remarked,
business is better than it appears on the
surface. Thus dis patch from New York
says that the actual sales in April by lead
ing houses il each line of business in the
principal cities east of the Rocky Noun
tans average only about 10 per cent less
than in April. 1892, the year Of the largest
business hitherto, and were 81 per cent
more than in the same month last year.
Yet this IS the summary OF 657 reports,
each covering actual sales of leading mer-
chants i'll line of business in fourteen
cities. This exhibit IS particularly en-
couraging, for it shows that the cry of
hard times is frequently q false note. 1t
is surely so in the present case, as the
quoted dispatch shows. We are doing 6
per cent more business than in 1896. and
only 10 per cent less than in 1892, which
was the banner year. This shows beyond
dispute that trade is improving.
AS 10 the great staples, iron is quieter,
as the recent increase in the demand
pushed production to q point exceeding
the inquiry. Wool has quieted down from
q similar cause, but continues STEADY
nevertheless. The sales last week were
49. 1871 600 pounds, against % 327, 900 pounds
in 1892. when all mills were running.
This does not look very dull.
Then there is the exhibit of failures.
Those last week showed q general de-
crease i'll number. amount and average
OF liability in almost every branch OF
trade and manufacture, excep. cotton.
The weeks failures were 22s, against 267
during the corresponding week in 1896.
This is another good showing.
The feature of trade in California at the
moment is the hardening of prices caused
by the dry weather. Wheat ha. gone up
rapidIy under heavy speculative trans
actions, and Dece ber touched 81 % on
Saturday. The outlook for this great
staple is steadily improving. The condi-
tion of the crop is poor the world over,
though no alarming deficiency is feared
anywhere. Still, ii can now be said with
confidence that the California wheat
raiser will get more for his grain this year
than for several years back. This is graft
fying for when wheat is profitable the
whole range of farm products is apt to
bring good prices. When the farmer Is
PROSTATE the whole community lam
guishes.
The outlook for good fruit year con-
tinues brilliant. Except possibly peaches,
no decduous fruit will be abundant, and
the destruction of the Eastern crop means
better than average returns to the fruit
grower this year. With fine outlook for
wheat, wool and fruit with mining active
and prosperous, it will be strange if Cali
fornia does not do well during 1897.