The San Francisco call., 1898-07-04
AMU2L.4 1NTS
THE MIDSUMMER LULU.


 k ID 'USINESS fell off somewhat last week. and the # \ gain over last year. as represented by the bank D clearings, was only oI per cent whereas of late
 it has been running from per cent to 30 per cent. Various causes contributed to this falling off. In the first place, this IS the season for the semi-annual closing down of many industrial concerns, notably iron, steel and glass; and for the regular midsummer stock-takng. However the shutdown will be briefer than usual this year, and in sections will not occur at all. Still it has its effect the volume of trade all the same No noteworthy fluctuations in the leading staples observable, and the general mar kets exhibit the usual midsummer inactivity.
 The record o failures for the first half of 1898 makes favorable showing the number being o42o, or $ per cent less than for the time in I897 and IS per cent less than in 1890 The liabilities too smaller being $72,I2o,ooo, or B per cent less than last year and 3I per less than two years ago.
 The exports of wheat continue extraordinary, those for last week being over 100000 bushels from At lanc ports against 2o64ooo last year. Thus far this year these exports of wheat including four amount to 2I7 900 bushes and of 2II452ooo bushels Prices for general products have shown more or less weakness notably in cereals, pork, lard and cotton, while the number ;of advances IS small. However, prices for wool hides leather groceries print cloths and metals except iron, reported steady and the cotton trade reports general looking up.. The de- mand for fireworks and flags, which is purely a transient condition is better than for years owing, course the spirit of patriotism awakened by the war
 Wall street continues quiet. Speculation is narrow and professional, and though the general public not buying they not selling. The course of shares has hinged the progress of events San tago and Manila and both of these propositions have been more or less uncertain prices have been The orOtesoue Darade of Admiral Camara in the Mediterranean and his moth-like u- tering about the northern entrance the Suez Canal used levers depress quotations by the bears but with indifferent result, Camara, with his tiquated and patchwork ships, is of interest to Americans except as of naval curiosity. Still, everything goes in Wall street.
 The local situation was distinguished last week by the hot north wind, which swept the State from one end to the other. California is almost exclusively a producing State and is therefore peculiarly sensitive to weather conditions. This wind has changed con ditions materially but they will not be wholly mani fest for week yet. In the first place, it caused a rise in barley from ST 1894 to $I 222 by sheng out the grain in those late districts in the Sacramento River which still remain uncut In the second place She hay farmers estimate that by unduly drying out the hay decreased the tonnage of the crop at least 25 per cent This may may not prove correct, but it certainly did hay good, and the product will have
 sere appearance the rest of the year in consequence The pear districts report less loss through the blowing off of the fruit. South of the bay the wind dried the soil in the orchards that it is feared prunes will suffer both in size and volume of output In short it caused or less mischief everywhere 1t is difficult to say which is the disastrous hot north wind ora hard frost, and have had both ahis year:
 As far as prices for farm products are concerned the outlook is bright The tendency is upward all along the line Fresh fruit is bringing good returns and tfe trade look for fine market for the dried product owing to the light yield and the brisk inquiry for the East The establishment of 80oc per pound as the' quotations for aprcots is a har- binger of how prices for other kinds will Hay rules firm and no decline is expected, in the 1- tureat least At the close of the week all cereals showed an advancing tendency. The livestock mar ket likewise moved up somewhat and closed stiff Trade in provisions bids fair continue lively at the satisfactory quotations. Wool is still quiet, but the undertone is frin Some damage to the hop crop by inc hot wind is feared, the plant is in bloom and desrccatiou s.apprehended few contracts have been drawn at I2A cents per pound, which is profit able figure Prospects for large grape and raisn crop are good Hence it will be seen that everything
 that the farmer raises promises to yield him lucrative refiirns This being the case, it is hard to figure out anvthng. else than a good year for the State.
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