The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1898-09-12
TRADE TAME, BUT SATISFACTORY

II OF weather interfered with trade all over the
country last week, except the Pacific Coast,
where the temperature was below the normal.
This IS probably the direct OF the shrnkage in
the country's bank clearings, ten important cities
showing falling off as compared with the same week
in 1897. Hot weather means much more in the East
than this coast owing to the humidity OF the East
climate, which renders the transaction OF bust
ness burden and keeps the mercantile element
longer than usual at the summer resorts. Still, COM
mercal reports abound with rosy accounts OF the state
OF trade throughout the land.
The situation in general was about the same as for
the preceding week Western cities aIreported marked
activity in merchandise, and Chicago could not ship
dry goods fast enough to satisfy the demand. The
distributve trade of the Northwest which has been
phenomenal for several months, fully up to its
previous volume The staples showed no change
whatever, wool and cotton being quiet wheat un-
settled and iron remarkably active. The failures OF
the country numbered 49, against I73 for the same
week in 1897 and 3o8 in 1896. Wall street labored
under the reaction previously noted, advance in
money rates having checked the buying demand.
The strlngency was not serious, however, and will
probably disappear with the resumption of gold i'm
ports and anticipated action by the Government to
check the accumulation of its funds Less favorable
crop reports from abroad tend to give the wheat
ket more tons, though the Improvement is thus far
insignificant Railway earnings continue to show a
gratifying gain, and prices for the leading lines Of
merchandise said to be the highest for five years
These points about cover the condition of trade
throughout the country east of the Rockies
The local situation is in fair shape. Fall trade is
opening up well a rule, and while values for most
of the staples stationary, there is particular
change in any description The fruit trade leads all
others in point of interest and the growers are real
zing prices fully up the anticipatons of the most
sanguine. The Gamers have had to scramble for
choice fruit this year. to the infinite qualification of
the orchardist and with the exception of period Of
ten days when the market was choked with
peaches and pears scarcity has been the rule since last
spring 1t will probably be some years ere the fruit
growers of California again sell aprcots at 500 per
ton, pears at $50 and peaches at SOS. Nor is dried
fruit whit behind the fresh article the only difference
being that is scarcer, the fancy figures paid for
the fresh fruit down the usual output of dried fruit
considerably.
The grain trade of the State is 1anguishing Prices
are fair rule and for several cereals they are
good. But the light output diminishes the gross
revenue materially. Wheat exports will be small this
year, and indeed much of the grain will come in
from the north Provisions moving off fairly and
some dealers report an increased demand The wool
hop and hide markets very dull with apparently
annual wine question is again coming to the front as
the grape crop in the northern part of the State
least, will be Short owing to the dry season, and
this may have hardening effect on wine, which Is
low at present
Jobbers of merchandise continue to report sat
isfactory outward movement accompanied with COM
paratvey easy collections There Is large supply of
money in the usual channels readily available at the
regular rates of interest Failures are no more
than usual at this time of the year, and are
generally small
The bank clearings of San Francisco continue to
fall behind those of 1897, loss in business directly
traceable to the dry winter. There is less grain to
change hands, less fruit to and dry less of every
thing in fact that the farmer produces Consequently
there is less in all lines of trade and the
result is Immediately shown in decreased bank clear
ings. Still, the falling off is not serious, and in
deed, is not as pronounced might have been ex-
pected.