The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-10-31
ANOTHER LULL In TRADE.


its predecessor. True, the bank cearlngs
l. showed material gain, being per cent over
those for the corresponding week i'll 1897 and only
two cities OF Importance Philadelphia and New Or
eans-recorded loss of any consequence. The
countrys failures numbered 2Io, against 2I8 for the
same week in 1897, so the honors were about even
in this respect; but the general condition OF trade
was more unsettled and considerable uncertainty
and reluctance to operate were manifested in the
large Atlantic cities.
The main cause of this was the Fashoda incident
which at one time looked acute, and rendered the
heavier lines OF trade and speculation dull But that
affair has pretty well died away, hence those
lines that were affected by ought to recover tone
The leading staples, too, did not maintain the
Improvement promised the week before Cotton iell
back again and quoted down, it being manifest that
the American and European mills both have surplus
stocks OF last years highprced cotton that they can
not prohtaby market in the present state OF the trade
The crop is not too large, but is handicapped by
the free stocks hand and this OF course depresses
the trade Wool is in the same predcament Stocks
so heavy that it is longer question OF profit with
manufacturers but of avoiding loss. Concessions on
the part OF holders have resulted in large increase
in sales but it is calculated by the National Wool
Association that full year will be necessary to work
off the abundant supplies. The iron trade shows
little change though the demand has certainly fallen
of, of late and some descriptions exhibit slight
decline In other lines of industry the report is that
work plentiful and in the State OF New York
alone there are $4,000 more persons employed in the
leading industries than year ago, but the
port adds that the margin of profit to the manufac
turer is smaller,
While the colder weather has served to stimulate
the distrbutive trade in the West and Northwest,
where for months it has been active, bad roads,
Z, oAea hut
tant factor is not making the showing that it did
Still business in these sections is by no means dull
The wheat trade is following the others in
respect The outward movement is large, but the
farmers are showing more disposition to sell than
they did last year, and there is apprehension
to the pernanence of the foreign demand, though
this is something which cannot be foreseen week
ahead. The feeling in Wall street is kept unsettled
by the foreign'compcato and approaching donles
tic elections, though the market has made pro-
nounced movement, either UP down.
The local situation is tame but there is less monot
6ny Commodities which have been dormant for
Some time are showing rather movement. Pro
Visions which have been uniformly dull for long
time, are reported in improved demand though there
is Improvement in prices. Livestock of all kinds
is firm and the tendency in quotations is rather up
ward than otherwise. Hides have weakened under
the proposed closing down of number of Eastern
tanneres by the leather trust and several kinds
slightly lower. Canned fruits continue in demand,
both for Eastern and foreign account, and in Eng
land the market is bare and very firm, with constant
call for replenishment of supplies. The is to
be said of dried fruits which continue very dull with
tendency in prices downward rather than upward.
Apparently halt has been called in the wine market,
and, though grapes advanced to exceptionally fine
prices, they somewhat weaker again the close
Wheat has been steadily weakening for days, i'll
sympathy with the Eastern and foreign markets. and
the demand is not brisk as a week ago. There
have been some changes in oils in the direction OF
higher quotations
While the financial market is not materially
changed, the political campaign tends to render
operators and hnancers conservative until the out
come IS determined. Nothing makes capital warier
and more reserved than the bare possibility that
the laws may be tinkered with by incompetent or
visionary theorists, who always the reverse of
practical Still funds are in ample and accessible
supply for solvent borrowers at the normal rates Of
interest for the undercurrent of opinion is that COM
mon sense will triumph the gilded visions Of
tickle and hair Drained enthusiasts
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