The San Francisco call., 1897-08-23

There is thrill OF satisfaction in the
hearts of hopeful people everywhere be-
cause the signs of the times are in favor
OF the farmer and the masses. In spite OF
the pred lotions of calamity hOwlers there
are manifold evidences OF prosperity. The
fact that the price of wheat has for gem
enerations been a measure OF prosperity
in the United States cannot be denied by
the most blatant of political orators and
the fact that II has taken a tremen-
dous advance and promises TO go much
higher, is equally patent to the most su-
perfclal student OF the problem.
1t is said by those best informed on the
subject that the wheat yield of California
this year will exceed %, 600 600 centals At
the present price this will bring an income
of more than forty millions of dollars to
the people engaged in the growing of
wheat. The effect of the rapid increase
has already been felt at the banks, where
millions of dollars have begun to flow in
tor the liquidation of debts long overdue.
1t has already had the effect of making
the masses of business men feel that new
blood has entered the veins of commerce
fand that there are strong signs of pros
perity.
The shortage of the wheat crops of the
Argentine and of India, compared with
the worlds demand, has been fortunate
circumstance for the wheat-raisers OF this
and other States. Taken with the better
prices OF products already made by the
tariff, which has sent up the price of wool
and other commodities, there are many
healthfuI signs in the commercial sky.
The advance in the price of wheat has
already brought profit of many millions
10 the growers of California, so that the
good results are felt in every branch of
Industry and every line of trade. The
golden nelds of grain are already In COM
petition With the yellow fields of gold, ana
all nature seems 10 have conspired under
what astrologists would probably call
lucky star TO make the prosperity of the
Pacific Coast conspicuous among the COM
mercial successes OF the year.
But there is a hopeful sign in connec-
ton with the advance in the price of the
staff OF life-the fact that other cereals ad- |
vance IN sympathy with it, and that there
Is general feeling of security. As conf
dence is half of every success it is ditficult
to say where the limit of the good news is
to be placed. Yesterday was a non.com-
mercial day. The great Offices in all the
cities were closed and there was of course
very little to be CLEANED in the way OF
news concerning wheat; but in every civ
there was great deal of anxious spec la
tion as 10 the results that may yet grow
out OF the raise in the price OF the chief of
American agricultural staples. The opinion
everywhere seemed to be, however. that
the farmer and the miner in California
ought 10 join hands and give three cheers
for the bear flag. The feeling of general
confidence in business prosperity is TODAY
greater In this State than it has been in
many years. and here are many signs that
the influences now making for the wei
fare of the State and its masses will bring
far-reaching results within year.
Indications point to a further rise IN
wheat. This will probably come at once
Brokers yesterday were looking forward
to a return to rushing business to-day.
The brokers alone have not been max
ing the profits. For the first time in wears
the California farmer has not sold his
wheat too soon for the general rise, and
this seasons prices to-day mean that the
California farmers are probably about
So 0C0, 900 better of than they were three
months ago.
An evidence of the wholesome effect
this prosperity is having upon the agri-
cultural districts of the State is the inter-
est on mortgages that IS already being
paid into San Francisco banks by farmers,
many of whom have been almost hope
lessIy delinquent for two or three years.
a slight movement in the country real
estate market is also reported in conse-
quence of the increased demand for wheat
and by reason of the excellent prices of
the product.
Among San Francisco brokers several OF
the larger firms are credited with heavy
winnings, while some OF ths shorts will be
losers because OF contracts previously
made to furnish wheat at price consiG-
erably lower than that now obtaining. The
heavy operators are George w. McNear &
Co., who have been buying right and left
since the first sign of boom in prices.
They have contracted for enormous guam
titles of wheat and have engaged over
twenty-five warehouses in the two great
valleys of California in which TO store
what they have bought, although they are
already shipping wheat East. This firm
alone, 1t is thought, will profit to the ex-
tent OF several hundred thousand dollars
during the season.
Al Gerberding & Co., Brooks, Blum, Cir