The San Francisco call., 1898-05-30
INCREASING ACTIVITY IN TRADE.

~ COMMERCIAL reports from all sections of the | country point to a further increase in the vol
 of trade. Last week 1t was the West that showed the greatest activity, but this week the East Is also expanding. The movement of merchandise is fully up to the normal this season of the year. and ill some sections is above it. The bank cearngs for the week 2o.4 per cent larger than for the responding week last year. and the failures 245 against 257 for the week in 1897 and 277 in I8o6 Not a single large city in the United States showed decrease III its bank clearings, while the gain in New ork was 27.7 per cent, n Chicago BPS per cent, in Philadelphia 2I.3 per cent in Baltimore 4o7 per cent in San Francisco 223 per cent, in New Orleans II.8 per cent, in Minneapolis 3z8 per cent, and so on, showing that the gain in business represented by these clearings general throughout the country. The railroad earnings also exhibited gain 1897
 The expansion of trade is not confined to two or three leading staples but apparently characerzes the whole field of merchandise. Thus the iron trade starting the month with the greatest production known has made surprising progress with new orders mainly for agricultural implements, though building and structural work come in for a large share. The long-expected recovery in wool realization, rather more business being re- ported at almost all Eastern centers, Textile goods likewise in better demand Hides and leather have lately been tending upward, with an increased movement The dstributive trade of the whole coun-
 
 firm, with higher prices for hams bacon and lard at the principal packing points, The increase in railroad earnings for the week I5 per cent and the ship ments from Chicago eastward during the first three weeks in May amounted to 38oooo tons, against I5o8oo during the same period last year This in creased movement due to the enormous move ment ot breadstuts the Atlantic exports of wheat and flour last week being 3726,ooo bushels against I,536 last year. When the greatly advanced prices of grain this year taken into consideration the effect of this increase in the export the coun- try at large will be immediately realized.
 Wall street continues in state of innocuous desuetude, to employ famous phrase which has be- come incorporated into the regular jargon of trade The public still keeps aoof and the professionals are perorce obliged to depend upon their resources Still the feeling is bush As influential factor in the situation the has become subordinate issue the large financial interests paying more atten- tion to the crops and railroad earnings than the brush with Spain. It would not take much to start a general advance in Wall street as the condition of general trade shown above is brilliant and Europe something like $Ioo 900 ooo which is slowly finding its way into the capacious Yankee pocket It is only short time since we were chronic debtor of Europe but within the past year she has been bor rowing millions from us, and taking the first steps in becoming what England has long been--a great creditor nation It is manifest destiny in new form and one little suspected by those who coined that phrase three generations back The United States is rapidly becoming great world power" all around and which Europe cannot afford to quar- rel with France has recently learned to its chagrin
 Locally things quiet. We are approaching the summer season. when trade generally eases off We harvesting crops which are more profitable this year than for many years pausing every and then to cheer passing regiment of soldiers or fleet of transports conveying troops to new possessions beyond the seas Apropos of this, the acquisition of the Philippines will prove bonanza San Francisco if her mercantile bodies energetic enough to see that nobody else gets the hanging plum We are the natural shipping and receiving point for the Manila trade and ought to allow the opportunity thus presented to slip through fingers. word to the wise Is sufficient
 The late rains continue to improve agricultural con ditions Some damage has been done but the benefits derived more than counterbalance it. All indications point to a year of than ordinary prosperity Our grain and hay will probably sell high and our fruit crop will yield than the usual revenue as stocks of canned and dried fruit are practically ex- hausted, and the incoming crop is not heavy enough to glut
 The quartering of large bodies of troops in this city is helping local trade in many ways notably in provisions and clothing. There is considerable discussion as to the wisdom