The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-05-01
A CLEAR COMMERCIAL SKY.

II + domestic and foreign trade OF the OnlteQ
States, as shown by the weekly exports, is
ceptOnally prosperous. This is the season
when the export trade generally falls its minimum
for the year. and in spite OF this the exports OF manu-
featured products for the month Of March $50
Cooooo or IS per cent of all the exports, this fine
showing largely compensating for the falling off in
the shipments of cereals and other natural products
This proportion has seldom if ever been touched be
fore. and it is a striking illustration OF the great
pansion OF our foreign trade The exports OF wheat
this crop year have been considerably less than during
the same period in 1898, the figures being 9620o,ooo
bushels against $4,000 bushels. The bank clear
ngs show falling off in general business, those for
last week being 65z per cent larger than for the
week in 1903, and New Orleans and Minneapolis
were the only cities OF any size to show decrease
The gain in New York was OIL per cent in Boston
COS per cent in Pittsburg 1913 per cent, and so on.
The commercial failures were 1874, against 245 for the
corresponding week last year There are no signs
OF a falling off in domestic trade anywhere though the
demand for general merchandise is lighter is usual
at this season OF the year when the spring trade is
over and the summer trade has hardly begun. The
retail business OF the country, however is reported
good being assisted by favorable weather.
The staples remain about previously reported
Wool is quieter but steady and sales OF foreign de
scrptions for re-eXport still being made. Cop
per has ruled very firm at advance Leather is
also strong largely owing the small stocks OF hides
available Wheat is unsettled but prices stand about
where they have been for some little time Lumber
continues firm. Iron and steel are queter as far as
new business is concerned but prices continue strong
and the margin OF profit is still good
1t is remarkable how well business stands the strain
OF foreign complications 1t was feared week or
two ago that the strained relations in Samoa and the
Philippines would have adverse effect but thus far
rome has been apparent. 1t the same through
cut the Spanish war No matter what happened
abroad the business of the country went on expand
ing, with hardly ripple on the commercial stream
Il is object lesson other countries, as showing
the stability OF American institutions and the perfect
confidence OF the American people in their Govern
ment We know that able to take care Of
ourselves land sea, and in the midst of war go
on merchandising as if war were mere side issue
something to amuse the children, as it were.
There was not much excitement in Wall street dur
ing the week. The continued easing of the money
market larger supplies Of funds and the disposition
the part OF the banks and money lenders to look
more favorably upon ndustrials as collateral had
good effect and the feeling decidedly better The
only drawbacks the uncertainty regarding the
crops and slackening OF public interest in the
market which made itself apparent in falling off in
the volume OF transactions Bonds again came to the
front in preference to stocks and were strong and in
demand
Conditions in California continue brilliant 1t is
interesting to observe that in official reports Of the
condition of the wheat crop the six principal winter
wheat States make average OF 90 per cent, while
California is classed perfect 100 per cent This
millions to us, and its importance cannot be
o,crestimated If wheat is perfect the minor cereals
arc likely to be equally promising and they are Fruit
conditions remain about the same. With the single
exception OF peaches the crop will be light but there
will be famine in any description and the light
OF the yield will result in higher prices and better
markets, besides leaving the field clear for the next
year This season promises brilliantly for the fruit
grower and general farmer, and as a natural conse-
luence for the merchant and it is reasonably safe to
,ay that 1890 will be one OF the best all-round years
The State has ever seen.