The San Francisco call., 1898-12-12
DECEMBER OPENS WELL,

| of Congress did not exert any unfavorable effect
 the business of the country The enterprise of modern journalism usual anticipated the event and the public knew in advance the consensus of opinion among Coueressnen and had very fair idea of what the President would say in his message The nineteenth century newspaper has revolutonized many time-honored conditions It not only exercises a marked influence on trade, but has sinphhed even diplomacy to that degree that Governments are in formed by the press what communications will be pre- sented them by foreign representatives even before
 the representatives themselves have received their in- struetons from the home ofI1ce Hence the day of commercial surprises is past as far as legislation is concerned. This is aptly expressed by Dun's weekly review of trade, which says: The most significant thing this week has been the entire absence of the customary nervous fright before or after the meeting of Congress, the Presidents message and the report o the Secretary of the Treasury. No showed the least alarm, and nobody could find occasion for any. Money and stock and grain markets moved exactly if the Government was automatic, certain to do or say more than the people had already decided and expected and so the gradual beternaent since October continues"
 Thus far December is making an exceptional record There was phenomenal trade in November, but it is considered merely step toward something better. Tn December, 1897, the exports were extraordinary,
 
 leading industries report large demand for their products both on domestic and foreign account The wheat shipments last week were s636,ooo bushels, aganst 43Izooo for the same week last year Wintry weather has stimulated the demand for wooen goods and many of the smaller mills have entered tke market as buyers, though prices have shaded about half cent since the opening of the month This is the dull season n the iron and steel trade yet the different works report immense orders for their product something extraordinary for this time of the year As for the retail trade 1t is reported exception ally lively throughout the East The lumber trade, already mentioned, is picking up and much more activity IS noticed The other great staples show no change worthy of note.
 The financial statistics of the country continue ia vo7able. The gain in bank elearings last week was 3o6 per cent, and the failures only 24S against SIP for the same week in ISo7 The only city of i'm porance to show loss in bank clearinss last week San Francisco but good rain will put us on the right side of the sheet again
 There seems to be rather more gong on in the local markets than usual at this time of the wear Few complaints are heard from any quarter. and while capital IS shy owing the lack of rain general trade seems to be moving along on satisfactory lines Those branches which have been dull are no daller. and several picking up little while those which have been active show no dinainution n activity An advance Of cents per gallon m wine has ehesred the hearts of those engaged in this important industry Sales of wool have been rather better, though the market is still dull An anticipated decline in hides has not taken place, and may not Good hops sell fast they arrive, and at fine prices Livestock of all descriptions IS bringing good figures, though in one two counties the cattle are suffering from insufficient food. Raisns are in steady demand and the returns have been good this fall Dried frut con tinues dull but at present rate of selling there win be no stock on hand when the 1Soo crop comes in Indeed several already practically cleaned up. Provisions moving of fairly at lone-estab- lshed prices The grain markets are in fair shsps and though wheat has ruled weak for some time the minor cereals, such barley, oats and corn. have lately advanced somewhat Dairy products. such as butter, cheese and eggs selling at high prices and the markets are but indferently supplied Gen ersl merchandise exhibits but little change from week 10 week and the wholesalers and jobbers report 8 heathy state of trade In short the entire field ot commerce looks well, and there arc no cornrner- oal casualties of serious importance the inference is natural that local trade is sound and satisfactory footing.
 It is not to be believed that San Francisco schools will have to be closed for lack Of funds owing to tts