The San Francisco call., 1899-05-27

apprehension that they lack faith in good
things present and to come. Every year there
is worry about short crops, and yet the crops
grow larger. The specter of monetary trouble
haunts men who know that the country is
strong beyond any need. Promoting methods
alarm men who are already quite aware that
it is only needful to put promoted stocks in a
class by themselves. But all the time the vol
of business is rising, this weeks pay
ments through the chief clearing houses being
62.1 per cent larger than last year and 6S per
cent larger than in 1892. For the month thus
far the daily average is 579 per cent larger
than last year and 66.4 per cent larger than
in 1892. Moreover, this week and every other
purchasing power, and the demand for pro-
ducts is consequently expanding in all branches
of consumption.
The rise in Bessemer pig iron to $17 65 at
Pittsburg. 81 in two weeks, in grey forge to
s15 25, in Anthracite No. here to SIG 10 and in
local and Southern iron at Chicago, results
directly from the fact that supplies are less
than the demand. Many more furnaces are in
haste to begin work, some succeeding but
others hindered by difficulty of getting prompt
deliveries of needed parts of machines or
prompt supplies of ore and fuel The natural
remedy that new orders now call for less work
than was done in April or March Is Tor the
time hidden by engagement of nearly all con.
works are catching up with theT ORDERS,
though much behind and obliged to refuse
many, while others are entering the neld. II
is proof of an astonishing demand That after
nearly five months this congestion continues
and the rise in prices, including advances OF
S2 epr ton in plates and bars, is not forced or
unnatural.
Minor metals have followed London long
that tin sticks at % 65 cents though stocks are
large and the demand is remarkably poor and
lead at 81 45. though the demand is slow. while
copper weakens to 1874 cents for lake, British
statistics indicating a fall Of nearly a quarter
in consumption for four months this year COM
pared with last.
The. heavy sales of wool, 80, s54 600 pounds at
the three chief markets in three weeks, against
20. $50 800 for the same week in 1897, when the
disastrous speculation of that year had be
gun to turn. and IA. PIP $50 in 1892, are mostly
scarcely nothing. Weeks ago they held that
prices were too high even after some decline,
for the prices at which goods could be sold.
But Western and Eastern specuiators nave
settled it that the manufacturer will be forced
to buy at such prices as they may fix and are
taking large Quantities.
The cotton mills have fairly good de-
prices of goods and are producing
largely The market has been steady at SIC,
with ground to expect much change and the
best reports indicate a decrease in acreage of
per cent
Wheat advanced cents but lost nearly
all the gain on Friday. Western
ceipts have fallen to about half of last years
and exports in four weeks from Atlantic and
Included against 13 691 $50 bushels last year,
while from Northern lake ports 1926, ,0S7 bushels
have gone out this year. But men forget that
foreign demand, If not large as ii was last
than In the same weeks of 1897, when wheat
exports only 5,704 334 bushels. and also
forget Letter speculation caused wholly un-
natural May movement last year. for the West
bushels. compared with 19, zoe 255 last year, but
9.96l.570 in the same weeks Of 1897 and re-
serves in that year were not specially reduced,
but closed quite large enough.
Failures for the week have been 142 in the
United States. against PAS last year, and 16
in Canada, against q last year.