The San Francisco call., 1899-05-15
CURRENT COMMERCIAL CONDITIONS.

HERE was less feature to general trade last
week The gain in bank clearings fell off to 437
per cent over the same week last year, whereas
for several preceding weeks it was much more pro-
nounced But as long the country can show
gain in business OF 43 per cent 1t cannot complain OF
trade conditions The commercial failures were Ioo
as compared with 25o for the corresponding week a
year ago For year or the failures have stead
lily decreased showing either greater conservatism
in business or a much more prosperous condition OF
trade-probably both
The reports from all over the country generally
favorable The chief features are advanced quota
tions for many descriptions OF iron and Steel in
creased activity in building shown by heavy sales
OF lumber at rising prices, larger railway earnings, a
frmer tone in cotton goods and advance OF 10 per
cent in hides at Chicago with receipts of cattle in four
months OF 100000 head less than during the same
period last year. and over 100000 less than in 1884,
in spite OF the gain in population. Ofsetting these
favorable signs, however, we have quieting down
in the wholesale distributing demand, notably for dry
goods and clothing, and further weakening in cereal
values in the face of less promising crop conditions.
The export of wheat shows some falling off, the fig
ures for the past week being bushels against
3484,ooo for the week in 1903, though the ex-
ports thus far this crop year 2o3o58ooo bushels
against 2o2, 5000 last year. In opposition to this
is the marked increase in the production OF iron and
steel which has averaged during the past four months
.3S,o27 tons daily, against $4,000 last year.
There was decline in manufacturing stocks in
Wall street during the week, but it was not due as
many supposed to any decline in industries but to the
overbought condition of the market Stocks accunu-
lated on the hands of spectators who figured a
rise and as failed to maeralize they naturally sold.
We are told however that the public taste for specu-
ation in industrias is yet saed, shown by the
recent subscription of S4I2oooooo to the $75ooooo
stock in the new copper combine, while the rejected
subscriptions raised the figure to about $oo ooo
Meanwhile the money market continues easy the sup
ply OF funds showing notable increase while interest
rates are easier.
In the local market the leading features are con-
tnued activity in all kinds of provisions at very firm
prices similar condition in the live stock market
good demand for wool, an advance in lumber and
unusually high prices for fresh fruit which in sharp
demand in the Eastern markets. As high as So rs
per enpound box has been paid for California cher
ries in the New York market and sales at S. and Sc
are Of daily occurrence The fruit reports fail to state
what class Of people in New York eat cherries at 60
cents to 80 cents per pound. They evidently have
money to burn. We are glad they have-they may
have our cherries. Another Eastern buyer came out
here few days ago and bought $50 carloads of last
years prunes Shut your eyes and imagine the length
OF train OF $50 cars Of prunes and you will get
fair idea OF the size OF this little transaction. This will
be a great year for California fruit
We doing pretty good business all around
out here in California The wholesalers in all lines
are busy and the dealers in farming tools report a
great rush for extra parts of harvesting machines
which points to large crops Never have trade cond
tons extended more promise. The export trade o
San Francisco and the northern coast ports is toe
active for the number of steamers employed and more
arc needed, especially on the Panama and Orienta
routes. Indeed sailing vessels have been found
necessary to supplement the steamers Coastwise lum
Der freghts have advanced in sympathy with grair
rates, and in brief the shipping and export business
OF the port are a very satisfactory basis.