The San Francisco call., 1898-11-28
THE STATE OF BUSINESS.

CHE past week i'll trade dull In the East
 | cold weather and storms nterfered with businesS' A though the bank cearings were 25.o per cent larger than for the same week in 1897 Here there were no storms but business quiet neverheieSS' But 1t is seldom that there is any activity Tn trade during the two closing months Of the year All the winter buying has been done by the middle ol NO yember and the spring demand does not set ln until along in February and in the meantime there IS very little going on except among the retailers Who are kept busy by the holiday demand.
 Trade reports from the East last week were meager' and contained little of interest and nothing The recent reduction in some kinds of cotton goods re- suited in rather more liberal buying, but the move mert is slow at best The opinion IS that cotton has seen its lowest point; and is to be hoped that It IS correct for this great industry winch IS the lie o1 the Southern part of the country has been parayzed for months There have been free sales ot wool, but at concessions and there still large stocks lett on hand o be got rid of before any marked activity in business can take place The iron and steel trade keeps up it's brilliant record and although the demand is not as sharp as some time ago, it IS still large enough to be chased as enormous by the men who are engaged: in it An unusually good demand tor export is anticipated for year. The exports of wheat and corn from Atlantic ports continue larger than for the same time last year. and prices have gen. crafty beer. maintained, The failures for the week were E88 against 236 for the week 1n 1897 Inc hide and leather markets show more hrmness other wise the great staples exhibit features o ln- terest.
 The feeling in Wall street continues strong, and the nresent temper of investors both professional and public. continues buIish The market is not easily
 affected bv lrfavorabe reports while anything ln the way of bull movement meets with immediate re- sDonse The ease of the money market has great deal to do with this but notwithstanding the abun- of funds the undercurrent of the market IS one of marked irinness.. Bonds especially sought after though the usual stocks have in for their share of trade.
 Bf1siness out on this fair reflex of that in the East While there is activity there IS no real dulness and profit margins are sufficient to pay req sonabIe dividends on invested funds. The continued lack of rain has been severely elt and until the State gets a good soaking general trade will undoubtedly rule quiet The rainfall to date is below that of last and this oinous fact deters capital from branch ing out in any direction.
 Although 1908 has been called year of scanty pro- ducton it is satisfactory note that the shipments of fruit overland from California only cent below those for 1897 Early in the spring 1t was not thought that this years shipments would amount to more than 25oo carloads about one-halt o last years shipments, but the close of the season finds us with total of 4824 carloads of deciduous fruit-qute
 
 shipments were 5323 carloads. But the returns this year were larger than those in 1897, owing to the higher prices this year. Cherries and pears made the best showing the loss in the latter being only per cent The dried fruit exhibit this year, however, is as favorable usual and falls behind that made by deciduous fruit owing to its inferority due to the dry season, which resulted in large proportion of srrlal-sized and otherwise undesirable fruit prunes being the chief sufferer in this respect Canned fruit has done very well, having met with q good demand at better prices than have ruled for several years
 In field and range products there is little nothing new Wool has shown rather life but is dull at best and sales made only at concessions Live stock of all kinds except veal has declined during the week. owing to the raising of the tunnel blockade n the Sierra Nevadas Hops still in brisk demand at good prices; and sales readily made Provisions are slow and unchanged The grain markets have ex- hbted striking features during the week, and trade has been dull all around.
 One man has gone crazy over the defeat of Cor