The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-01-16
STILL IN FULL BLAST.

+ HE past week in trade showed no unfavorabe
indications. Here in California the continued
rains gave the outlook for 1899 rosy aspect,
and in the East heavy foreign demand for American
products kept national trade in fine tone. The bust
OF the country reflected by the bank cearings,
showed gain of 345 per cent over the correspond
ing week in 1893 and the failures were 3I8, against
$40 last year. Current opportunities for invest
being better in the United States than
i'll Europe, Americans doing considerable pur
chasing in Wall street. where the best previous record
for sustained bulish movements has been broken
the transactions averaging 100000 shares per day
throughout the week. and, best of all, rising quo
tatons This buying is not professional, but public
as private investors are doing most OF the purchas-
ing The complexion OF speculation has changed
and whereas bonds have been preferred to stocks for
several months the transactions in the former are now
less and at rather easier prices, ii anything The
ket at present seems to be speculative rather than
permanent.
Exports of wheat and cotton are still heavy, and
wheat and corn both advanced slightly during the
week The iron trade is still booming, the mills
crowded with orders, and while the production in
creased 5000 above the estimate last week there
was decrease OF over $4,000 tons OF unsod product
in December. Further advances in quotations are
noted The wool men do not appear to be pressed
above what the enormous supply on hand justifes.
The other industries more than holding their own,
hides and leather being stiff, boots and shoes steady
and the lumber trade in excellent shape, with fine
spring demand expected.
All local signs are promising. While the rains are
assuring abundant crops later on the immediate effect
is quoting down in trade, especially in the country,
where muddy roads and swollen waterways interfere
with transportation But the tendency in the general
of products is toward higher prices Beef, NUT
ton and pork have all advanced during the week, the
rains by promising feed in the future, encourage
stockmen hold their cattle and sheep, in ex-
pecation OF still better returns later on Hides have
gone up somewhat and are firm at the advance. Hay
shows slight decline, owing to the rain; barley is
steady and oats higher Potatoes are scarcer at
advanced quotations. Wheat has not varied much
during the week. Provisions moving off fairly
at previous prices. The tendency in oils is upward.
Grain bags have gone up since the rains changed the
complexion of affairs. Wine, too, is firm and fur
Their advance expected by the local trade But best
o. all, the bankers taking rosy view of the fu-
In a series OF interviews published in The Call
last week several prominent hnanciers expressed the
opinion that henceforth more attention will probably
be paid to investment in real estate owing to the good
farming outlook, such loans, when times are good
yield better to capital than almost any other
class of securities.
The fact is the rains which ushered in the new wear
have revoutionized the commercial aspect of the
State The outlook, which in December was dubious,
is now brilliant; the State has had a good soaking
and with the usual spring mowers California will
again her place we'll along in the van of the
national procession.