The San Francisco call., 1899-07-24
AUCTION SALES.
A QUEER COMMERCIAL MIDSUMMER

= HIS is probably the best midsummer season
ever known to American trade. The failures
are the smallest and the railroad earnings the
largest while the clearinghouse exchanges are
40 per cent heavier than in July. 1893, and o2.3
ner cent heavier than in 1892 the best previous
wears Boston shipments OF boots and shoes Tor the
first hall OF the year exceed those for the same time
last wear by over 100000 pairs. Manufacturers OF
wooden goods are Tree buyers OF wool in the East
and their agents are purchasing heavily IN the West
Hides and leather are rising slightly under good de
mand and limited stocks Wild speculation in tin has
lifted the price to about the highest level ever known
The demand Tor iron does not abae and many works
are still refusing orders. All fears OF deficiency in
Western crops have been dispelled by receipts OF
I286r 900 bushels thus iar this month"; against 773,
600 during the same time last year The corn crop
OF the country gives splendid promise and several
Western States especially Kansas, will probably
break all previous records this year he aggrega-
ton OF the dstribuve trade OF the country IS OF un-
precedened volume and the demand for fall and win
ter goods is increasing with such continuity to
tend the most fatering hopes for the next six or
eight months.
Such is the commercial condition OF the country
to-day. when dogs run mad, when people a~e off at
the seaside or in the country when the days east OF the
Rockies are hot and the nights do not give relief II
business is unprecedented under such adverse condl
tions. what will it be when the midsummer season IS
over and cooler weather further stimulates trade2
We thought last year was record-breaker, but 1899
bids fair to beat 1893 with distance to spare True
there have been clouds the horizon OF late, but
they are passing The strngency of the London
money market has thus far produced no appreciable
effect on this country; foreign complications which
for some weeks were menace to international trade
are being harmonously adjused labor strikes, which
have been no less menace, are being settled and
the scare over large combinations OF industrial CAPT
tai which started brief panic in Wall street last
spring have ceased be bugbear to the banks, for
it is found that they governed by the trade
laws that regulate smaller concerns and individuals
In brief the commerce Of the United States seems
such firm foundations that ordinary adversities fail to
shake it.
Like the general markets. the local situation is IN
fine shape. The crops as rule are large as ex-
pected and with single exception two, are bring
ing fine prices. Fruit keeps up to the high plane Of
values established at the beginning OF the season.
quotations for grain allow the farmer satisfactory
profit the mining interests are recovering from the
bad effects OF the dry winter OF I8o7o8 and the export
trade OF the coast is still heavy that shippers are
bothered to find vessels enough to carry away the
merchandise ordered by foreign countries This is
a milennia condition which certainly ought not 70
be gruinbed at The State shows the effects Of it IN
easy credits abundance of money declining rates
OF interest, and a pronounced scarcity OF labor in
almost all sections Everybody who wants be is
work at something other and in the country the
cry is still for to work the harvest machines Like
ships railroad cars scarce, which delays shipments
OF produce the city. The merchants are so busy
that they cannot find time to complain, for which
blessed state of affairs thanks are due to the Goddess
OF Prosperity. How long this commercial millennium
will continue is conundrum; but there are no signs
at present that it will not continue indefinitely