The San Francisco call., 1898-12-19
A COMMERCIAL FANFARE.

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 trade is not particularly brisk to realize that the year 1898 is going out with flying colors and record which will beat all previous exhibits, but such seems to be the case The commercial statisticans of the East are enthusiastic it. It IS largely case o figures for taking the different lines o trade ndlvdu- ally no especial activity is apparent except iniron But the Government statement of exports and imports tor the first eleven months of the calendar year shows that the exports of the United States amounted to S1uz68I Ioo, exceeding the imports by $537,837,o4o, an increase over the same period i'll 1897 ot SI43o2o- I5 Dun's weekly review calls December month of surprises and Bradstrees says that "Likening the general business of the country to that ot water course it may be authoritativey stated that nearly all the channels of seasonabe trade at the pres ent running full and in some lines of business the stream is virtually overfowng."
 In point of activity the iron and steel trade leads all others. In fact the present rate of progress ii will not be long the United States will be to the iron trade what Great Britain has been for dec ades. Already foreign countries are seeking our markets for supplies, and the demand is so great that the mills turning down orders right along The most recent instance of this IS the refusal ot the Chicago mills to execute order from the Rus sian Government for 75ooo tons of steel rails to be delivered Vladivostock, because they are too busy to fill it. Nothing like the present activity in iron has been seen for years if indeed, ever
 In other branches of business the signs favor able During the past week there have been ad- vances in cotton coffee, lumber, copper, lead and almost all the cereals. Increased buying of cotton at the advance is reported The improved movement ln wool already noted still continues and large purchases by the Eastern mills are reported while many mills long idle have started up The exports of wheat and corn from Atlantic ports running very large, those of being surprisingly so and if 1t con tnues it will result in benefit to the West ern farmers In fact it is our phenomenal export trade in all classes of products which is exciting the East, and well it may, for we are sending away two dollars worth of goods for every dollars worth we buy. No other country in Chrstendom is mak- ing such a record.
 Business failures also continue to make fine showing those last week amounting to POI, against 32o for the same week in 1897. The bank clearings showed increase of 234 per cent over the core spending week last year. The distributve trade of the country is fair but is completely dwared by the magnificent exhibit of the export trade.
 Wall streets reflects the general prosperity by an enormous aggregate of transactions in both bonds and stocks which has carried prices for many to the highest level of the year. The leading feature of the week was the heavy buying for London account showing that the foreigners realize prosperity and are taking advantage of it.
 In California the situation has mcasurably i'm proved during the past week owing to the rain which, though not copious, sufficient to give the feed good and break the long dry spell, which was beginning to stagnae trade Moist, foggy weatl- CT has followed the rain and given it chance to soak in. We need more rainfall, but will probably get it. for the dry conditions seem pretty well broken up.
 The cereal markets have improved during the past few days. Wheat has scored small advance owing 10 reported damage. the Argentine crop, and al the minor cereals except rye have shown tendency to rise The grape growers and wineinakers have been encouraged by the sale of 5,ooo.ooo gallons O red wine at 12I5I5c per gallon and what is still bet ter, disposition the part of the warning factions in the trade to come together for the common good This means much to the State the vineyard inter est is one of the most important.
 The other local staples about the thel and about 100000 pounds have been worked of for shipment during the past fortnight The mea market has declined somewhat, but prices are stil good Farmers have been harpered Of late for wan of advances for seed, the money powers did no feel like making any advances until rain made a bet ter outlook for crops; but that the rain ha come this condition ought to be changed Countr, collections have been rather slower this account hut the city collections have kept up all right. Other wise there is nothing new i'll the local situation
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