The San Francisco call., 1899-08-14
AUCTION SALES.
BUSINESS STILL BRISK.

7 HERE is still no pause in trade worthy OF note,
though there is a slight hesitation, as indicated
by the bank clearings OF the country, which
showed gain OF 243 per cent last week. the smallest
increase for some time. There IS however, but little
falling off in the great cities, the gain at Chicago be
ing 758 per cent, while all OF the most important
cities exhibit larger clearances than last year New
York shows the most marked falling off, her gain last
week being only 1873 per cent over last year. De
creased trading Wall street caused this decline, for
the public are doing very little speculation there
present, and the market has to depend on the regu-
lar professionals OF whom off at the different
summer resorts.
Against this shrirkage in cearings is a shrnkage
in failures those for the week being I36 against 100
ior the same week last year. Not for years have
commercial failures been small and unimpOrtant
during the past few months. This in itself IS sgnifi-
cant proof OF the remarkable prosperity OF the
try.
Another very favorable indication is the volume of
the great crops, wheat and corn. The Government
report suggests yield OF 500 bushels OF win
ter and spring wheat, and bumper crop of 2,ooI,
100000 bushels OF corn, the latter being record
breaker. This cereal outlook OF affects the
great railroads, whose earnings during the coming
fall bid fair to show marked increase. In fact
cars are already becoming scarce in the East and
West, and the transportation companies will be put
TO their trumps the vast output OF the farms
OF the West and Northwest.
The prominent staples keep up their fattering
h;bit iron and steel OF course leading Western ad
vices are OF heavy demand scarce supplies OF mate
rails, high prices and increasing volume OF business
booked ior next year. The production OF pigiron
the largest ever known, but in spite OF this stocks
showed decrease and current production is easily at
the rate OF 100000 tons. year. Wool continues
strong though It is the season between clips the
market is not as active as It was some weeks ago.
Hides, leather, boots and shoes rule very firm and
the manufacturers have practically decided to advance
prices for the latter The demand for lumber shows
no abatement and extensive canning operations have
greatly stimulated sugar As for the canning trade
itself it never was on more brilliant footing. Most
OF the California were sold up to their
capacity months ago, before the contracted fruit
1ipe, but Of late scarcity of cans has vexatiousy
>etarded operations
The local situation was enivened toward the latter
part Of the week by a rise in wheat which though
fractional and the very heels OF decline was vel
come and made the street very cheerful There is
nothing stimulating general trade as an advance
in wheat, and in inverse ratio decline in this
great staple always has tendency to make merchants
cautious No marked advance is expected owing to
the favorable outlook for crops as rule throughout
the world, but for some time the opinion has pre-
vailed that wheat was rather lower than conditions
justified.
There is slackening in the output of California
produce which promises to be enormous this year
The Gamers and driers putting immense guam
es Of fruit which is meeting with an excellent de-
1nand at fine prices, owing to the shortage in the
East and Europe There is stiff demand for new
hops but the growers will not SELL even at the good
prices bid by buyers. Cattle sheep and hogs con-
true high and wanted, provisions in active de
nand lumber is lively the recent advances keen
inquiry for fall wool is expected by the trade, the
export trade Of the coast lvelier and it
goes all along the line one unbroken exhibit of
prosperity.
Leon Dennery went to San Quentin on Saturday