The San Francisco call., 1897-02-09
Cheering Report of Presi-
dent Watkins of the
Board of Trade.
Every Indication Points to a
Revival OF Business on a
Sound Foundation.
Unless Some Surprise Is Spru ung Upon
the Country Nothing Can
Hold 1t Back.

The annual meeting of the Board OF
Trade was held yesterday at which a
board of directors was elected for the year
and the reports of the officers were read.
That of President A. A. Watkins gives a
general review of the year that is passed,
with another review of the conditions
that he prophesieS will develop year OF
un pr ecedented prosperity into which we
have already entered. The report is
cheerful reading in and out of business
circles. 1t says:
The year just passed has been a try
ing one to all engaged in business.
Hard times have been an epidemic
which extended from one side of the
continent to the other, and most busi-
ness men pa rted with the year 1896
with small regrets. On the whole it is
a wonder that with the many disturb
ing influences it got through as well as
it did. The year started out with a
severe political contest staring it in
the face and "a possibility of change
in the currency system which filled the
hearts of business men with terror.
The dim of the treasury reserve
by the continued exports of gold,
which could be checked only by the
a feeling of distrust.
1897 starts out not confronted with
any such appreh h ensiOns; without that
feeling of hOpelessness that permeated
the business world at the beginning of
last year; the gold reserve in the treas
ury advanced to the point at which it
was held in the years of our greatest
prosperity. The immense favora Bile
balance of trade-largest ever gained in
hiGfn nf tha (fnx a,F-InFr1 fI,sa
absence of any fear of gold exports for
many months at least and the generally
acknowledged good prospects for favor
able prices for wheat, agricultural and
horticultural products; the revival of
interest in the mining industry the
Pacific Coast and the Increased gold
product in this State in 1S96-the largest
since ISS3-all add to the ceiling of con-
fidence.
On every hand are evidences of i'm
proving times. The conditions are all
most favorable for prosperous year.
There is no initiation in anything-prices
are all low, and business whole is
upon a sound foundation.
A speech recently delivered by An
drew Carnegie on the business situation
concluded with these words:
"Unless some surprise is sprung upon
the country nothing can hold it back
from a period of genuine prosperity"
These thoughts in accord with
the views generally expressed by the
foremost business men throughout the
country. i trust that t heir expectations
may be realized, and hope that at the
close of mother twelve months you can
all look back with gladness, unmixed
with sorrow, upon the year now opening.
The directors reelected were: For term
of three years.. Nickelsburg S. Feucht-
wanger. Isaac Upham.
For the unexpired term of two years
William Cuff.
Isaac Upham succeeded A. L. Scott for
the three-year term and William Cluff
succeeded Frank Brigham for the unex-
pired term of two years.
Secretary II. L. Smith reported, among
other things, a total mem bership OF 1913;
admitted during the year 16, resigned and
retired from business IS.
The number of cases recorded from
February l. 1896, to February l, 1897, upon
which action was taken was 652; amount
OF liabilities recorded, 81, $50. 267. OF these
cases 335 nave been settled. 317 still pend
ing. OF the number settled 81 were
total loss. The failures represent the fol-
lowing lines of trade:
Agricultural implements 1, bakery z, boots
and shoes %, books and stationery s, butcher
L, bicycles 3, cigars and tobacco IS, cIoaks /
clothing 81, dry goods 54, drugs "a, fancy
SOOus ItJ llulI l. ROOQS As,
furniture and carpets 10, general merchandise
126, groceries 122, granite work l, hardware
%, harness and saddlery 3, hotels IL, jewelry
8, liquors 20, lumber 2, millinery 10, paints
and oils a. plumbing B, pottery 2, produce 9,
restaurant 8, tinware and stoves 13, tailoring
3, teas and coffees 2, varieties 33. Total 652.
OF these failures SIC occurred in Califor-
mia, Is In Montana, 80 in Oregon, IA in
Utah, 35 in Washington and 10 in Arizona.
OF those in California 128 occurred in San
Francisco, As in Alameda, 81 in Los An
geles, SO in Santa Clara. The treasurer
reported:
Balance on hand February H. 1896. .S1521e SIS
Receipts from secretary. ry.....-.......... 240SO so
interest on oank qeposlts. 63S AZ
Totals. $3e 93s 81