The herald., 1897-01-07
MARKETS Of THE WORLD
Local, Eastern and Foreign
Commercial Dealings
WALL STREET SPECULATION
The Annual Trade Review for Southern
California
Valuable Information Furnished by r. G.
WALL STREET SPECULATION
Valuable Information Furnished by r. G.
Dun 6 Cos. Local Manager-Out-
look for the Future.

MI II. w. fuTilTdHl, lOCdl manager OIL II.
C. Dun & Cos commercial agency, fur
nshes the following resume Of trade condi-
tions in Southern California:
The year just closed has been one of busi-
ness uncertainty and widespread industrial
stagnation. Every branch of business has
been depressed and the commercial death
rate has been larger than In any year since
1893. Capital has been wary money scarce;
the credit Of business men was strained
to the utmost TO keep afloat until the finan-
cial policy of the country should be deter
mined, and the large number of unemploy-
ed mem reduced the purchasing power of
the people. The post ELECTION business
boom prophesied has not come: conserva-
live men did not look for one. 1t would be
unprecedented for country's industries
and business to reach it's normal activity
at single bound, after long continued
period of depression Business Is proceed
ing safely and well; confidence is steadily
returning; money is plentiful. rates lower
The agricultural conditions are reassuring
ana there Is apparently every sign of re-
turning industrial visor
southern California in common with
other sections OF the country, has had a
severe lesson in retrenchment. but in spite
NJ 1t u uiiiInanoraDie in5 general conditions, and
ihahy locahtles suHerins from local causes
the year has been one of progress and a.
feeling of confidence in the pros sperity of
1887 Is almost universal. The auspicious
opening of the rainy season and the ad-
vance IN prices Of horticultural products
al tne close or the year are cncouraein
ana the shortage in the worlds grain crop
mas caused the seeding of many acres of
GOOD agricultural land that has lain idle
the fact that there is a growing Interest
among outside capitalists in our mines.
Eastern and European capitalists are seek
i,ng Investment here and 1t is hardly possi-
Die that there are no bonanzas among so
many excellent showings in our mining
districts, where at present there are 10
miiis and $3.50 miners at work. 1t is be-
iieved that the activity of the past yearhas
paved the way for greater developments.
and that the output of the yellow metal
VIII VII oe greatly increased this year.
our leading interests: ~
horticulture has expanded and increased
~ importance. although the year OF 1895
.,l aia not pring a high tide of prosperity to
the horticulturist: heavy frosts dannged
deciduous and citrus fruits lesseninc fhe
yleid faulty shipments and business de-
prices. ''N
The outlook for the successful marketing
OF the orange crop of 1S96-g7 is good. The
crop mas shrunk below the normal ontnn,
put Is being handled more carefully. The
easoI hean LIS, Is early about twice as many have
pee peen sent forward up to January 1st as
Tor corresponding period last year: ,he
quailty was never better.
Sanheu fruit shipments have been re-
s
months prices have been advancing Tbe
position OF dried fruit is also favorabie 70
eFe of deno,ro holoer after long continued period
bronaht br u,Ihttoufagement iass and and the, year has
me WINE and raisin industries
ne lemon growers, as class. have had
anolher a successful year and this fruit sus-
tanned Its reputation as a.revenue getter.
1t has been an off year for the olive The
crop was less than the average. but the
qualily was superior. the demand good and
te1 he larPset preino,e, ia The walnut yield was
frlces Tor farm products ruled unusualjy
low, sun. the farmers have generally been
aDn14 an,e 10 meet obligations and look FOR grea.
agricultural prosperity in 1897
At the present time great intarest &c
peing shown in the beet sugar industry:
tne acreage al Chino is to be Increased. the
aluof tha cn,,i, factory will be in operation for
ine coming season and another at Ventura
IS one or the future probabilities
ActlVe work goes on in Southern Califor-
ma petroleum fields. The new section for
enterprise in this direction is tha lving he.
tween Los Angeles and Puente The price
scales between 30 cents and 81 q barrel The
value Of our fuel oil is recognized.
of Anar na,. tne ne year has seenlttle or no growth
,he 1act that capital has not been seeking
investment here or elsewhere
zeal estate has been quiet. but most
cIties ana towns report a gratifying I'M
crease in number of business places and
residences, the outcome of n real deynap5
our advices from Arizona show that thie
section enters the new year with we'll
grounded faith for a period of active pro-
gress: The developments in copper are
growing mere important every day and The
gold output Is increasing. For the first
time in several years. the rains have been
abundant. assuring to the cattIemen their
long delayed prosperity.
IN summing up. it is apparent that our
section. In spite of hard times, has taken a
step forward and evidence seems abundant
that we are entering upon a year that will
tell much better story. if proper advafl-
taSe Is taken of circumstances which ma
ture and opportunity are placing at our
command.
Failures in our district for December. 1896.
were II, with liabilities of $s5, 900; assets,
$4,000.
Failures for the year were 229. liabilities.
SI4o.SSJ: assets, S31T.5G0 AS compared with
1895, failures, 15s liabilities, S467,G assets,
Soeo .cG '