The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1897-01-16

| greatest growth and osperity the country had
| ever seen came suddenly in 1879 after several
| months of disappointment because specie re-
sumption had not brought the benefits expected
1t takes time for new confidence TO reach through
easier money markets, large orders, resumug
mills, expanding employment and larger dis
tribution to the results which make still greater
and lasting gain possible. Such gradual and
steady improvement has been in progress for
more than two months. The output of pisiron has
gained 41.6 per cent since October ]. The output
of coke has increased SO per cent since october
!. Sales of wool have become large Money mar
kets feel steady increase in demand FOR COM
mercial and manufacturing loans Additional
works have gone into operation each week in jan
uary, and the working force Is LARGER than at any
other time for six months The gain may be
ascrbed 10 deliberate Judgment of the ablest and
most prudent men In business.
II is time for high prices. Many who are
anxious to get carry hold on the market are max
ing for he moment lower prices than they could
afford maintain. With the increase in the out
put of pigiron to 1920 tons weekly. against
l42, 27S last month the price is shade lower at
the Fast and Chicago, but heavy purchases al
ready advance Bessemer steel a shade at Pitts
burg. steel bars have been reduced 1c and
demand the whole is steadily growing. The
coke output has risen from $4,000 to 94,342 tons
weekly and minor metals are a shade stronger.
Textile manufactures are not encouraged
by the demand for good' though more
WEEKS Lower Srices sre expeced in goods
and slow buying is not unnatural since cot
ton has fal EN- 17.S per cent from september II,
print cloths z per cent, beached goods 312 to Ia
| and brown goods 212, 3@4 per cent Though
wooden goods do not prove there have been
purchases by large mills which cover for two
weeks of January 1l,110,3O0 pounds at the
three chief markets against IL ST. 900 last ear.
Some large purchases of leather indicate that
some shoe manufacturers are seeing their way TO
more active work and shipments from the East in
January thus far 20 per cent larger than last
year. Hides al Chicago are gig per cent lower.
Clearing house exchanges tor the month thus
far are less than 1 per cent below last years.
though still 252 per cent smaller than the year
1892 the year OF greatest prosperity. The rail-
road earnings and tonnage r January thus far
are light, owing o Western storms but December
returns cover $3S. 6S6 81 OH roads in the United
states alone, only z. per cent less than last year
The Pennsylvania and some other roads have
commenced to buy rails and several costly i'm
provements have been ordered, he Column ba
bridge alone calling for 70U0 tons OF steel and
terminal improvement Tor the Erie will cost
81 200, 600.
closing lac lower Western receipts for the week,
1,5U53 500 bushels, against 2,916,274 last year,
are checGed by storms and by current prices in
view of the farmers expectations Atlantic
ports were ], 456 40S bushels flour included, and
Two weeks 5, 4S4317. against 4, 4S3, 1870 last
year. Traders begin 10 realize that enormous
ports Of corn are taking the place of wheat in
foreign consumption Cotton took rise OF
eighth on a Traders estimate without change III
conditions.
The money market has been disturbed by
com blnation of large bankers not 10 lend on call
below per cent, which invited ali sorts of finan-
cial institutions to take The market, caused pay
supplies OF funds so heavy that time loans were
sharply m arked down. More was done in COM
merCiai paper, though offerings increased but
moderately. Receip from the interior exceeded
exceed last years for the week per cent, while
imports fell 10 per cent below last years
ailures for the week have been ASS in the
United states against S95 last year, and II in
Canada against 81 last wear.