The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-03-20
TRADE HERE AND ELSEWHERE.


X keeping the pace set year ago with the regu-
- larity OF walking beam. There is no halt any
where The movement OF goods is the greatest ever
known and from present indications bids lair to con-
tinue So With the exception OF iron and Steel no
industry or branch OF trade is cOnspicuously active
but the whole situation is OF remarkable lite. The
export to foreign countries shows no general abae-
ment True the exports OF breadstuffs, provisions
cotton and oil fell off $4,000 900 in February but those
OF manufactured goods were $5,2ooooo larger than
during the same month last year, and were sufficient
to cover 60 per cent of the imports The iron trade
continues to lead all Others Nne-tenths OF the mills
are now engaged and will be until August orders
taken months ago. before the current rise III prices
took place Late buyers have to pay fancy quotations
to get their orders accepted at all Against this rosy
picture however is the already noted loss OF consid-
cradle foreign business on account OF the sharp ad-
vance in prices and the withdrawal OF few orders
for the future It is therefore possible that the iron
industry is too prosperous for its permanent good
Time will tell
The failures last week were $780, against 2o8 for the
same week last year The bank clearings showed
gain of 42o per cent, and Kansas City and New Or
leans were the only two cities OF any size exhibiting
4 decrease The heaviest gains were S. per cent IN
New York and 1855 per cent in Baltimore The ap-
proach of spring has quickened the demand for dry
goods, millinery clothing and footwear, and these
lines reported very active. but per COuud, WOOL
and cotton are dull and the latter has declined in spite
Ct bad crop reports The exports OF -four and wheat
are slightly in excess OF 1893 The lumber trade con-
tinues active with marked scarcity in hards woods
The feeling in Wall street was bear1sh especially
during the early part OF the week the fear OF higher
money having led to less selling, under the
influence OF which prices declined somewhat Other
wise the market was without feature.
OF course the rain was the feature Of the local stu
alton last week 1t frightened things UP wonderfully
It came in the nick of time. Most sections OF the
State could have held few days longer, and the
northern coast counties probably could have matured
a fair crop as it was, but the major portion OF the
State needed rain at once The situation had got to
that point where capital simply withdrew from the
market until the State got into better shape But as
soon as it was fully known that the State had received
good wetting down there immediate loosen
ing OF money, which has already become apparent
The situation has cleared to this extent that even
without any more rain shall have fair crop pro-
yided the north winds hold off; for fierce north wind
can dry up the ground and wther a healthy crop in
two days besides playing havoc with fruit There is
no reason however to suppose that will not get
the usual spring showers in which case the harvest Of
the State will be large.
It was generally expected that a marked decline in
the price of many products would follow rain but
such has not proved the case Wheat and barley
futures went down rapidly and spot wheat also fell
off, but spot barley declined fraction, almost
Immediately recovering. Small supplies kept hay,
beans potatoes fruits ETC. firm in the face of the rain
for the truth is getting pretty short Of these
products and will be we'll cleaned up by the time the
new crops come in.
The coming week may see more or less fuctuation
in quotations OF produce. There will be readjust-
nent to the new conditions. Some lines will probably
go down and others up Beef is already steadier,
the starting up OF the green feed will enable stockmen
to hold on to their cattle, which means diminished
shipments to this market now, but larger shipments
later on in the 1t generally takes days,
however, for the readjustment to become marked.
At any rate the prospects of the State to-day are i'm
measuraby better than they this day last week
and much better than at this time last year