The San Francisco call., 1898-07-25
OUR NEW COMMERCIAL FIELDS.

T HE United States is flush with money. This is
 plainly shown in Wall street where there is a decided pressure of new funds for investment and where there is already considerable talk of the formation of syndcates for financial ventures in Eastern Cuba. The shrewd American mind has al ready perceived the richness of the new field being opened by armies in the Antilles, and if the present aacrity to take advantage of it be any indication, there will be vast commercial investments in Cuba and Porto Rico in the future to say nothing of the Philippines later on. The Yankee has grown immensely rich at home; he bids fair to become still richer abroad. The Spanish war has given American enter prise stimulus little dreamed of three months ago. The Spanish colonies have kept the Spanish nation afoat up to the present and under the superior American exploitation will henceforth yield tenfold revenues to us.
 The abundance and ease of money in New York is further shown by the demand for the new issue of bonds. Private individuals want them for their safe interest, and the banks buying them for the pur- poses of circulation though this latter demand is more or less checked by the cheapness of money. Good bonds of all kinds are wanted in Wall street and taken in preference to stocs which for the moment are given the cold shoulder.
 General trade is still affected by the duness incl dental to the midsummer season, and shows few fea-
 
 country last week showed a gain of per cent over the same week in 1897, this being the smallest gain for some time. A loss of 20 per cent at Pittsburg rather indicates falling of in the iron trade though the statistical position of the market is supposedly strengthened by a cuTtailment of production and reduction in stocks The iron market however, is showing certain irregular symptoms, though Der of enormous sales have lately been made three alone aggregating 10000 tons of steel biets. The important feature of trade last week. however. was the improvement in wool, both East and West though t mainly confined to few grades. The Eastern wool markets are said to be the lowest in the world and is claimed that stocks there can be replaced lower prices either here or abroad Shipments of boots and shoes thus far this month are reported larger than ever before in July except in 1895. Along the Atlantic coast large preparations are being made for extensive shipments of merchandise to West Indian points expected as a result of the American occupation of Cuba Commercial failures continue small those last week being ISS or B less than in the same week in IS97 o2 less than in ISo6 and 5I less than in 1895
 The breaking out of the war immediately diverted the public attention from the Klondike but the ar rival of steamers with large amounts of treasure and the report that the production of the district this year will amount to S2o,oooo 900 have again brought this industry into prominence and animation in the
 
 The wheat trade of the country has been rather dis appointing of late Supplies of the old crop are rap idly disappearing, and though the new crop move ent IS in of last year 1t hardly comes up to ex pectations, and the market has ruled weak though certain apparent senstveness to bullish conditions implies that 1t would take much to advance quo- tations, which rather low.
 The local situation shows no particular change from last week The grain markets, which had been stag nant for some time, showed unsettled symptoms. which may develop into an advance or possibly the reverse though the latter is hardly expected Corn has gone up sharply, owing to light stocks here and advance in the Western markets and as this grain has been largely used feed for several months the rise may lead to sympathetic improvement in the minor cereals, such barley and oats Farm products continue firm rule Hay keeps up to its profit able level in spite of heavier receipts and specula- ton in beans which has been stagnant of late is re- vving Fruit continues to bring prices little dreamed of year ago, and the fruitgrowers are consequently in clover Provisions dull usual at this season. and pork has been steadily declining for week The hide market is also weakening. but there is rather tone in wool especially for the choice descrip- tions. Canned fruits stiff and the tendency of the market is upward, as the English inquiry is strong and the output this year will be much lighter than usual. General merchandise IS moving of well and the merchants not complaining of business Money is in abundant supply at the usual rates oi interest
 Considering the remarks they would be apt to ex- A z. Ct