The herald., 1897-06-08

lumbia miners find little difficulty in OBJ
tanning all the financial aid they require.
This IL explained to some extent by one
OF the London financial papers in COM
menting on the absence of al9S desire for
California mines. by a statement OF facts
showing that the Canadians, like the Aus
tralians, are ever ready to back their prop
ositions UP with their own money. out
siders only share the investments In the
northern mines; they do not, nor are they
expected to monopolize the business for
stock jobbing purposes. Confidence be
gets confidence here as elsewhere. There
is much truth in these remarks as applied
to California. Here q property might go
a-begging at reasonable figure. 80 Tar
as interesting dollar of San Francisco
capital, and II It Is taken up abroad the
value Is inflated to a degree calculated to
awaken q suspicion of robbery among all
sensible investors and drive them away
1t Is nothing to find commissions tackled
on by middlemen aggregating in many
cases over twice the purchase price of the
property. 1t Is not a promoter seeking
the sensible, level-headed investor, but a
hungry horde of irresponsibles angling in
muddy waters for suckers This game
has been played once too often, with the
result that the pig In the poke trade is
played out so far as California is con-
cerned. The worst of 1t is that honest men
are forced at the same time to suffer for
the sins Of Others"
The local mining exchange held it, nrst
open session today. The exercises were
entertaining, number of stocks being put
up and bid upon with great show of activ-
ity. Considerable interest Is felt In the
welfare Of the exchange, and 1t is hoped
that this attempt to build up a mining
stock market may prove successful.
+
r. q. Dun & Co.'S monthly review OF
trade conditions in Southern California,
just out, says: There Is a distinct though
gradual increase in the volume of bust
ness and in the demand for manufactured
products. The grain movement Is good
for this season of the year; little changes in
values OF staple commodities; prices
fiuctuate, II at all. In very narrow margins
An improved demand and slight advance
IS recorded In iron and STEEL and the tone of
OF the wool market is stronger. The money
market Is undisturbed and there is an in
creasing demand for commercial loans
Good reports come from the farmers hor-
ticulturists, beemen, cattlemen and miners.
The prospects for grain are much better
than two months ago. The acreage of
barley is somewhat less than last year,
but wheat Is largely increased. and the
total product viii be much larger than
IN 1896. The bean crop, in spite Of low
prices, 10 larger than last year. The years
orange crop is practically marketed. The
carloads sent forward total up less than
last season. but this is owing to the nom
shipment of culls. The outlook for the
coming orange crop was never better at
this season of the year. The lemon market
has improved during the month. 1t is
pretty well cleaned up at eastern points,
and the fruit now In shape to ship will
find ready market at advancing rates.
The prospects of the deciduous fruit, with
the exception Of prunes, are excellent. The
eastern CROP without doubt, has been
greatly reduced by frosts. and the shortage
In the French crop Is reported large Dried
fruits are still inactive. with sales con-
fined to small lots. but they are, IL any
thing trife firmer. The honey crop Of
Southern California will reach 200 carloads.
In the city there has been no important
change in business during the month,
Wholesale business Is quiet in most lines.
The larger retail stores are pushing trade
by reducing stocks. Money is abundant
and in somewhat better demand, and a
good feature of the situation is that build
ing 10 moro active.~ Failures In our dis
trict, 10; liabilities, $4,000: assets, $2s. .0oo
For same month last year, 26; liabilities,
1000; assets, $4,000.