The San Francisco call., 1899-09-11
THE COMMERCIAL SITUATION.

c IGNS OF the great prosperity now enjoyed by
the United States continue to multiply. One
- of the latest is the bulletin OF the New York
Bureau OF Labor Statistics. which makes the best
showing OF any document issued by that depart
ment. 1t shows that the percentage OF labor unem-
poyed in that State is less than per cent and in
some trades none all is reported. When the vast
population OF New York is considered this is GER
tanly a wonderful exhibit
There is wide difference in prosperity based on
speculation and that based a genuine demand for
manufactured products and the latter condition is the
one prevailing to-day. As previously mentioned, the
purchasing demand of the country active
as now Nor is this demand for goods confined TO
the United States The export trade OF the country
continues extremely heavy and manufacturers
are extending their trade in directions little dreamed
OF a few years ago At that time nobody thought
that England and Germany would enter Our markets
for locomotives and bridges. but they have and are
50 well satisfied with their initial purchases that they
have sent other orders As for exports from
this coast they were livelier than to-day 1t is
not a question OF selling the goods to foreign coun-
tries but of finding vessels in which to send them
away. Every day large shipments to the Orient and
Pacific islands are declined by the different compa
MES and individual vessels for want OF to ac-
commodate them.
the East see nothing in sight to cause distrtls bat
all seem to take rosy view OF the situation. Some
of them are looking for increased dividends on their
railway shares owing to the larger earnings of the
companies, though most OF them have learned not
to count their chickens before they are hatched e5-
pecally in Wall street Meanwhile the great staples
OF the country continue to show active and firm
front and every few days prices go up OF the la
advances being in paper AS formetas the advance
in pigiron copper and tin since the wave OF
prosperity struck the country year or more ago
ranges from 50 to per cent. Thus far the ad-
vanced prices have checked the demand in any
line, and, in fact prices often appear to be second
airy consideration delivery alone being the inpor-
point in purchases. Conservative men, however,
know that sooner or later this tremendous buying Of
merchandise all the country must satisfy the de-
mand and when that happens there will be reaction
OF some kind. 1t is not in sight yet however
The local markets exhibit few striking features
The great farm staples remain about as they were
week ago, grains being quiet and fruit active and
firm Wool and hops quiet, but strong as to
quotations, while hides and leather are firm with
good demand The tendency in oils is upward, and
coal oil has advanced during the past week Pro
visions are slow, but steady in price Lumber and
coal in moderate supply and quick demand at firm
quotations
Some localities report better inquiry for real
tate though there IS no activity anywhere The
money market is in its normal condition and sol
vent borrowers find no d1icuty in securing funds at
moderate rates OF interest There are no large fail
1ires reported and collections are fair in all quarters
The net supply OF gold in the United States Treasury
has risen to the highest point ever known touching
$z5L6IS.ooo on Thursday of last week. the previous
highest record having been $2I7ooooooo in August,
1903 In view OF the resurrection OF the old gold
and silver question by the political parties this is al
interesting and instructive fact.