The San Francisco call., 1898-11-07
TRADE FAIR AND FEATURELEsS.

TIE condition of trade throughout the country
 at large remains about the same as prev1ousy reported-quiet and characterized by conserva- tisn and disinclination oYerbuy speculate on the future The elections have had less effect than an- tcpated though they have exerted more or less in fluence. The bank clearings last week were 20 per cent heavier than for the week in 1897, and the failures were I83, against 223. While these figures show better condition of business than at this time last year. there is no line exhibiting any especial tivity, and most of them are reported quiet
 There IS no lack of funds in any quarter, however. The annual report of the Treasury Department to the Secretary shows that the ordinary of the Government during the past fiscal year were $4o5,- Iooo an increase of $575o7ooo over the preceding year, while the expenditures were $43368ooo, an in crease of $77,5o4,ooo. The war with Spain added greatly to the expenditures but in spite of this the assets of the country ony about $ 100000 less on June 90 than the corresponding date in 1897. It will be remembered that Congress voted $50 for war expenses SO the deficiency is easily accounted for The statement adds that the tenders of gold to the department by banks and individuals in exchange for paper were than 1t could accept.
 The same plethora of gold has characterized na- tional trade for year. Business may be quiet, but certainly is for the want of gold coin The country has of than it knows what to do with and, as previously mentioned, the banks have been
 
 parative quietness due to overproduction in number of staples, notably wool and cotton and to slackening in the foreign demand for wheat, owing to the pacific political situation in the Far East The dstributve trade of the country seems to be jogging along about as usual and, in fact IS re- ported better than 1t has been in the South and West, owing to favorable weather and the lift ing of different quarantines. Wool is showing more activity, as holders, having discovered that they toxra haav ;- rd 4Ia of supply, have begun to sell at concessions and the woolen manufacturers looking forward to an in- creased trade i'll consequence and at prices which will admit of small profit The iron and steel trades port less business than for weeks past, though the mills are still well supplied with orders While grain has beer duller statistics show fine foreign export movement, which however has been offset by increased receipts at Western points, prices have not been able to improve
 In Wall street bonds have been active while stocks have sold at concessions The feeling the street is steady enough the railroad earnings continue make good showing, and a number of large indus trial concerns have recently declared their usual dividends. Still, trading has been dull as a rule.
 On this coast conditions have not changed for some time. In California the weather is now the chief factor in the commercial situation. Rain is needed, both account of feed and farming opera tions. While it is yet too early for any apprehension
 
 a good soaking southeast storm would brighten things wonderfully Still with the exception of dried fruit and wool, the leading staples moving off we'll The season in dried fruit has been disappoin- ment all around. With short crops all over the world nobody expected stagnant market this fall, but such has been the case, nobody knows why The grain market, albeit quiet, is plane of prices at which the farmer make money, and the minor cereals such as barley and oats, have advanced na- terially during the past week. Provisions still rule dull Hides are quiet but the hop-growers are sell ing their product at profitable quotations and the demand has lately been good Cattle, sheep and hogs steady at satisfactory prices and except for the scarcity of feed, complaints are heard from the stock men.
 Country credits have kept Up well in spite of the dry year. Collections no slower than usual and there is at present visible disposition on the part of the city houses to contract credits The weekly record of failures continues very favorable there be- ing no serious defaults in this direction Money is plentiful at the ordinary of interest and the agricultural parts of the State seem to be fourshng despite the recent dry season.