The San Francisco call., 1897-03-27

trade: Never have markets sustained such sur
prising strength they have received OF late and
with so little business. Foreign conditions and
London alarms, the collapse OF the iron-ore combi
nation, the destructive floods in the Mississippi
Valley and the decision of the Supreme Court
against railroad associations have been used to the
utmost, but not even in rail road stocks has the
result been important With courage that better
times are coming men are less disposed every day
to throw away good investments, and the very
fact that prices of products are low regarded as
a guarantee against much further decline. In all
Industries also the number Of mills and shops
and hands at work gradually increases.
The railroads have been subjected to so much
loss of late b, cutting of rates nsple OF all asSo-
Citations that the posi- b;ity OF open and un-
restricted competition lbs cad of agreements
which restrict only the mtre honest may wei
have soberinI influence. The earnings for
March thus far, on Y per cent below last
years, compare not uufavoraby wit the full re-
turns for February. per cent below last years
The grain markets have lost without reason the
gain they ma ne without reason the previous week.
Wheat supplies running out, but nobody be-
lieves that there is coming q famine before Jnne
when the harves ing of southern wheat Will begl"
Western receipts were over third smaller thal
Ii st year and Tor four weeks have been 7,6l1 4A0
bushel, AGAINST IL. s642O8 las year but the better
prospect for the crop of winter wheat has more
weight
Atlantic exports. -four included. were nearly as
have been 5,O5972S bushels. against 5,506 220
last year. But corn exports have been l2,763 579
bushels. against 4,577,60s last year w When hen
Europe buys in corn the equivale 1t OF 6,4OUOOO
bushels OF wheat at less than soc the price Of
wheat is not easily advanced above soc Cotton
was helped upward an eighth by the flood, bnt has
lost half the gain, although manufacturing is not
hopeful Without change In prices gooos we're , In
cloths result in stronger tone
The final dissolution of the Lake iron ore pool
has been expected ever since the Carnesie-hocke-
feller deal and in,ures low prices for ore during
the coming year, though perhaps not lower than
| in 1895. Mesaba facilities for production have
vastly increased, and all the 81. at steel mak1ng
concerns have been securing mInes of their own,
while means of transporta ion have greatly been
enlarged. With assurances OF cheap ore hesitation
| about various products should diminish ana the
demand is steadily Increasing. Bars are Stiil de-
Sheets wire rods and and all nails the de-
and is growing larger.
The demand for rails continues enough TO
strengthen prices although some from specula-
tive purchasers of cred below the present prices
of mills Tin is shade lower with larger recep pts,
though the dStrbutlon has been considerable, ana
lead is decidedly stronger at S,4T, but copper is
weak at l1.75. Increase IN coxe production ap-
pears, and more Is assured by the purchase OF
works by the Cambr. Company. and while quota
tions UNCHANGED outsiders are offerlng furnace
at ST. 10 per ton.
speculation in wool has recorded larger sales
pounds against q, ,9S4.576 IN the same weeks OF
1892. Much more than alf is for speculation, as
nothing like the full capacity OF mills Is employed.
Americans have also bought largely at London,
400 900 bales already, IL Is said, where the market
is excited and had advanced 10 to / 8 per cent
With heavy supplies here this large I'M portatlon
and new wool coming in May, there may be FOUND
overloaded dea ers. Prices here are s, Ill advanc-
the past month. The wool manu- facturer is stead
lily increasing, but cautiously. 1t IS TOO early 10
anticipate results iiom changes which may os
made in duties.
United states against 259 last year, and so in
Cauada against SO last year.