The San Francisco call., 1899-07-10
TRADE CURRENTS APPARENTLY
SHIF TING.

TRADE still continues above the average all over
the country. All the leading staples are reported
active and some are abnormaly so for the
midsummer season. AS the hall yearly returns from
the different lines come in It is more and more ap-
parent that the business OF the United States or the
first six months OF the year was phenomenal There
are indications OF decrease in the iron trade as
many OF the numerous orders mentioned so freely OF
late have turned out to be the same orders in
mill after mill in a vain attempt to be filled. Thus
single order in its travels multiples into dozen
in very few days and gives an erroneous impression
Of the condition OF trade Still the iron and steel in
dustry IS wonderfully active, Just the same
Multiplication OF the same order cannot be charged
TO the wool trade Prices for the better grades have
again been advanced under a lively demand from
dealers and manufacturers, and in sympathy with
use in London The Texas foods have helped cotton,
which has also improved. The dlstrIbutve trade OF
the country IS naturally limited at this time OF the
wear vet fall orders are reported unusually large in
dicating brisk fall business Preliminary reports
as to railroad earnings show continued gain, that
for June in fact being the heaviest thus far this year
The bank clearings too, show unprecedented totals
and enormous gains for the first hall OF the year while
the general trend OF prices has been upward there
having been Jew depreciations. All sigrs point to
export trade but little short OF the immense volume
OF 1903. the only falling off being in the European
demand for our food products. In fact, the course
OF our export trade shows some shifting. Our
ports during the fiscal year Just closed exhibit de
crease OF SIS 100000 to England than $2oooo,-
600 to France and 100000 to Spain and Belgium,
this decrease being almost wholly in food products.
The advance in cattle in the United States has had
considerable to do with this falling off Against this
uniavorable showing however, there has been
marked increase in our exports to the Orient South
Africa and British North America shipments to
China alone being 80 per cent larger than last year
while we have materially increased our trade with the
West Indies Mexico and South America. Thus it
will be seen that what we have lost in Europe has
almost been made UP by Our gains in the countries
above named 1t would appear from this that business
currents undergoing some changes.
There is nothing surprising in this For years com
nercal economists have been pointing out the grow
ing importance OF Asatic and South American coun-
tries and have freely predicted brilliant trade future
for the United States in these directions, due
superior geographical position Providence has hap
PLY placed US between Europe and the East that
from the Atlantic coast we supply the former and
from the Pacific the latter and this geographical
position will eventually make the United States the
greatest commercial nation the world has seen.
In other words we viii be the financial queen OF the
world As a matter OF fact, not very distant
from that position even now.
Conditions in California remain about the same as
previously noted Our export trade continues lively
and the abundant grain harvest promises even
larger volume this year. Shipments OF lumber as
heavy as ever while the expectation OF provisions and
general merchandise is continuously large. Prices
for almost everything quoted in the market reports
are strong and tending upward, and there is not a
downward tendency observable in any important line
Of produce or manufacture Fruit holds up its
abnormaly high level without difficulty, and ship
rnents TO the East are limited only by the supply OF
cars The California fruit growers making good
deal OF money this year, and the State will the
benefcent results from this fruit millennium later on
From present indications 1890 will be the banner Cali
fornia year for some time to come
Two youthful San Francisco lovers who started out
to marry and concluded instead to go to the matinee
have wise heads on their young shoulders Each may