The San Francisco call., 1898-01-10
THE FIRST BUSINESS WEEK.

HE year opens most auspiciouSy y. In
 fact prospects are the brightest of any new year for long time. Nowhere on the com mercial horizon appears cloud. The reaction in trade mentioned along in December as being al most unprecedented for that time of the year is slowly gaining force, and from all lines of goods come reports of an increasing demand for supplies If indications for the past month realized 1898 will be the lveest business year the United States has ever seen
 The statistical showing of the country at large in 1897 is at hand and the exhibit is gratify- ing. In failures the year was the best ever known The total number of failures of national State, saw ings and private banks and loan and trust panes n 1897 Io5, little more than half those of I8o6, and less than one-fth those of the panic year, 1893 Liabilities also showed heavy falling off, being 60 per cent smaller than in ISo6 and % per cent smaller than 1893. The number and a- bilities, however, slightly larger than 1894 The percentage of assets to liabilities in 1897 was only 76 the smallest reported since Bradstreet's record of bank suspensions was begun.
 The bank clearngs of the country last week kept up their favorable showing, there being an increase of 23.o per cent the same week In ISo7 only three cities of any importance showing decrease The great commercial cities exhibited gains rang ing from 8 per cent (Boston) to 4I8 (Minneapolis) The gain in New York was 2oo per cent, in Chi cago 3o4 per cent, and in San Francisco 3I7 per cent.
 The prospects for the manufacturing staples is brilliant. The feeling in cotton manufacture is re- ported better, while in wooens the mills are buy ing heavily to keep abreast of their orders. The consumption of wool during the past five months has been the heaviest ever known. which is well
 illustrated by sales of over 1000 ooo pounds at Bos- ton alone during the closing week of the year, something unprecedented. The iron trade is en- toying an unusually fine business for the season, with excellent prospects for still better movement as the year advances. Railroad earnings continue to show marked increase.
 On this coast prospects brilliant as in the East 1t not more so. Dealers in almost all lines are reporting increased demand. for goods, though there IS marked activity yet. The possibili- ties contained in the Alaskan demand are but feeby shown at the moment, but there will be lively times in this trade in a few weeks. The great produce staples showing renewed life and stocks of the majority well reduced. It only needs little quickening in the demand for wool to start another boom in this staple. Dried fruits and rasins are meeting with call, and at the present rate of consumption stocks of both will be found practi- cally nil when the new crop comes forward. Hides have advanced since last review and are active ana firm at the improved quotations. The provision trade rules dull, but this is the normal condition of this market in January. Beef and mutton are strong, and hogs slowly advancing under a growing scarcity Hay has again crept up slightly and bids fair to do creeping in this di- rection The humble potato too, that common place esculen which generally is the of sationa is slowly advancing in price under grow ing scarcity all over the United States When the potato in to rise what possibilities are not contained in the pretentious staples?
 The light rain of last week did not produce much effect the local markets. Wheat was undis- turbed. Barley weakened, curously enough for the fall insignificant in the most important dis tricts. Hay advanced in the face of it, and oas too with light stocks and smaller offerings from the north. The butter market dropped sharply.
 The local financial market remains without fea- ture.