The San Francisco call., 1898-08-01
BUSINESS.

I NRADE returns were somewhat inconsistent last
 week. While the different mercantile concerns
 \ reported increase in business, the bank clear ings showed decrease of per cent the first loss for along time. As these bank cearings are simply cold figures without sentence, they generally accepted the best indications of the of trade hence the inference that they right and that the mercantile wrong, and that the volume of business was less last week than for the week in 1897.
 But the report of R. c. Dun & Co. says that con sidering the decline in prices during the past six years the volume of business Is about 20 per cent larger than the volume of clearings indicates. How this may be, trade certainly shows signs of pick ing up The iron production during the first half of 1898 was 5ooooo tons larger than in the period any previous year. and, what is still better the con- sumption exceeded the output The orders re- ceived surprisingly large for the season, and in cude 10000 of steel rails for Russia and 5000 for Japan. In addition the demand for plates at Pitts burg Is the heaviest known. Sales of wool continue to increase, but there is improvement in prices The situation in cereals continues unfavor- able, and wheat has kept up its slow and steady de- cline, owing to the promise of liberal crops in the United States and foreign countries. The other staples show no changes worthy of note, they expected to until after the midsummer vacation Is over which will be in another thirty days.
 The feeling in Wall street last week of in
 
 loan was made and its failure to disturb the money market, coupled with the peace prospects and the abundance of money, led to good demand for bonds and transactions active in consequence. The professionals still had the field themselves however as the public, which left Wall street at the beginning of the war; have yet returned The demand IS for bonds rather than stocks which quiet The money market of New Yo ork continues easy and plentifuly supplied, and present prospects that will be glad to loan Europe few millions during the coming all is the general expectation that siderable gold will be received from there before winter and have got about all take care of now A country is In curious condition when 1t finds itself overburdened with gold coin, but this is the condition of the United States to-day.
 In the local market there features to re- port but the old features pronounced. The decline in cereals continues with scarcely any inter rupton but prices still up point where 1t pays the farmer raise grain and hay Unless quotations fall considerably lower than they there will probably be immense acreage seeded to hay and grain during the coming fall and winter. Indeed the demand for land in some sections even now exceeds the supply, which is the most fattering agricultural sign we have had for years. It only three years ago that land could hardly be rented any price hence the present demand for acreage is sig nhcant.
 As the season advances the fruit prospects steadily improve and the present writing brilliant The canners and driers Of fruit securing the orchard districts for peaches aprcots and Bartlett pears and prices for all three steadily advancing Fresh aprcots selling readily up to $7o per ton the pears have got Up $4o and eestone peaches quoted as high $45, with clingstones away up out of sght-as high as $Ioo having been paid in some The foreign demand for canned fruits is keen and supplies in England reported practically exhausted It is rather early for new prunes yet but they already selling an advance of cent per pound, SEQ per dried ton over the opening prices ofI8o7 with stiff and advancing market. The grape crop cannot yet be definitely determined but present indications point to average yield, though prices for grapes and wine of course be forecast al this early day. This is great year for the orcardis that is, for the orchardist who has good crop
 The effects of the dry winter are becoming more pronounced as the summer advances. The Weather Bureau weekly reports calling attention to the exhaustion of pasturage in many districts two months ahead of the usual time, and the dropping of fruit i'll the State owing the extreme dryness of the ground Even the ornamental trees around our dwellings showing the effects of this dryness and are premaurely shedding their leaves giving the ap pearance of the approach of winter. But the season is now far advanced that this dropping of fruit is rot alarming though it will cut down the already light yield more less, and at the same time tend to harden quotations for the rest of the year.
 The mismanagers of Agnews are unable to dis cover that they are anything of the sort Also they are ungraeful for the efforts to enlighten their un derstandngs, quicken their consciences and impe their resignatons have not ecited from them SC