The San Francisco call., 1898-10-10
TRADE IN GOOD CONDITION.

N OTHING could be more suspicious than the NJ opening of the crop year of I808-oo. The early and frequently recurrent rains have started the green iced all the northern part of the State and promise copious rainfall later en- though 1t Is too early yet to make rash predictions California winter weather Is beyond human prediction and 1t IS a common remark that the longer lives in the State the less he knows about the weather But thus far the conditions are brilliant True, some grapes have been spoiled and some drying fruit has been caught out in the wet and there but the aggre gate benefit greatly outweighs these scattering draw backs. There is a feeling of confidence all the State Stocks of all kinds of farm produce light and prices are good and the lightness of supplies al most assures profitable returns for the coming sons output. Country credits are accordingly on a sound basis, the farmers have lately regained much of the ground lost during the past four five years and the State seems to be entering upon period o prosperity which bids fair to last for least year longer.
 General trade, however, Is not especially active, though it cannot be called actually dull. The bank clearings of San Francisco, as frequently mentioned Of ate have been running behind for weeks, though the decrease has been small. As offset to this however the failures throughout the State have been few and as a rule confined to small concerns, Money is in abundant supply the usual of in terest, and a good many old scores have been wiped out by the farmers during the past year Another good year will greatly reduce the farming indebted ness of the community. It is this condition more than any other that the widespread feeling of confidence mentioned above. We are essentially a producing State and anything that benefits the farmer increases the commercial activity of all the cities and towns in the State. It is this condition upon which we are now apparently entering.
 But while the feeling in State produce both rural and urban is firm, the outward movement of produce and merchandise IS rather slow Canned fruits are active and going to the East and Europe in large quantities, but cereals dried fruit and wool slug gish Wine is doing rather better of late and hops are selling well prices which the grower good returns The local nanufactores are running their average force and putting out the usual amount of goods at a fair profit the investment, as shown by the uniformity with which the monthly dividends are declared. Trade therefore, is in normal condition, and bids fair continue for some time to come. The greatest activity however, is exhibited by the farmers, who encouraged by the early rains and the high prices for this years produce, are seeding vast areas and getting them in early. Generally the farmers are apt to overdo a good thing but this danger is hardly probable this year owing to the extreme light of stocks, which almost nsures practically bare markets next spring and summer.
 Tn the East the conditions are tame and uninter- estng. The weekly commercial reports sing the same old song Ot smaller ta1lures ftuctuat1ng bank clearngs lively iron market, extreme depression in the wool trade, low-water prices for cotton a brisk distributve trade in the West and Northwest and unsteady market for wheat. A gradually ex- tending yellow fever quarantine in the South has checked business more or less in that section Still, the general aggregate is favorable the bank clear ings show small gain of AZ per cent over the same week last year.
 Wall street is having period of ups and downs at present Speculation in railway shares has fallen of lately notwithstanding the increased earnings re- ported by most roads. The growing ease of the money market has stimulated purchasing of bonds but neither this the continuance of gold imports seems strong enough to revive the Tagging spirits of the speculative community The industrial stocks notably tobacco and sugar, ruled soft all the week
 noteworthy feature at present Is the failure of the colonial boom to pan out expected a few weeks ago It may be that the public cautious about ur1- duly rushing into investments in Cuba and the Phil ippines, but at any rate not much is heard about either of these propositions now. It takes vast amounts of money to exploit these colonial schemes and perhaps the public have found it out To be sure, many Antlean enterprises have been hoated but not to the extent anticipated during the war when the excited American imagination pictured a wholesale rush to Cuba and Luzon immediately after the cessation of hostites. It may be- however that capital is waiting for the consummation of actual peace for 1t must be remembered that the present sit nation is merely cessation of hostilties and that peace itself yet remains to be declared So the ex- pected rush may occur later though there is cer- tan1y very little enthusiasm shown about it at the moment.