The San Francisco call., 1899-05-08
MONEY FLUSH AND TRADE ACTIVE.

THE world seems to be overloaded with idle
unds seeking investment This is shown by the
/ recent rush to secure stock in the new copper
combine Just incorporated under the laws OF New
Jersey, which by the way, IS as popular State
for such ncorporations as Dakota used to be for di
vorce The subscription books were lately opened in
Boston under capitalization OF S75.oooooo, and the
Office was Immediately flooded with offerings OF
money from America and Europe. The total cash
subscription reached the gigantic sum OF S4I2oooooo,
and from S3oooooooo to 100000 900 was rejected for
different reasons which, added what the insiders
intended to secure for themselves, would have made
grand total OF over $1,000 100000. England offered
Sso.oooooo Germany and France $2oooo.ooo each and
New England calmly came to the front with over
S1oooooooo 1t will be remembered that few years
ago an offering OF popular United States bonds was
oversubscribed in very much the same proportion
The world seems groaning with money.
With such an excess OF funds business ought to be
good. and it is The country's bank clearings last
week showed a gain OF S3.5 per cent over the same
week in 1893 and several cities exhibited phenom-
enal gain: New York 1858 per cent, Piusburg and
Baltimore about o5 per cent, and on Failures ran
down to I64, against I84, both records being very
small. while those for the month OF April were the
smallest ever known Meanwhile the money market
is easy and normal and there are no disturbing signs
anywhere.
The leading staples, as a rule, are in good shape.
The iron and steel works are catching up with their
orders which have lately diminished, but in general
they are still rushed to fill their engagements The
advance in prices in foreign markets where American
competition is longer felt, is good sign for the
future Boots and shoes continue in good demand
and the factories are busy Wool is still active, with
free purchases on speculative account and for re-
export new feature is the activity in building and
real estate reported from number OF widely sepa-
rated sections German to this is the continued
strength in lumber, which shows upward tendency
The dstrbutive trade OF the country large is
1nal and collections are reported fair to good almost
everywhere Wheat is still unsettled the feeling
among operators being bearish that persistent bull
news has little or no effect on prices.
On this coast there are few new conditions worthy
OF note, except perhaps the unfavorable news from
different crops in Oregon and Washington, where
continued cold weather and frost have done consid
erable damage to fruit and the growing grain. The
California grain crops are looking well and are
spared the possible visitation OF north winds the yield
this year will be large The fruit crops remain about
as indicated in this column for month past; the out
put OF almost all kinds except peaches will be
or less light but high prices practically assured,
owing to the almost complete destruction OF the East
ern fruit crops by the February blizzard Indeed,
Eastern buyers are already in the market for fruit
and the local trade predict greater representation
OF them during the coming season than ever before.
This will tend counteract any depreciation in prices
which may follow the consolidation OF the different
canneres hence the fruit grower will be apt to regard
the proposed combine with a compacent eye-for this
season al least Combine or no combine, whoever
buys California fruit this year will pay fair price
for it
General merchandise is active in the local market
Provisions are in demand and tending upward fine
sign for it has been observed that lively in trade
is generally preceded by revival in provisions, and
vice Cattle. sheep and hogs bringing profit
able quotations, the canned and dried fruit markets
are we'll cleaned up and firm wool is selling well,
most cereals quoted above the normal and there
are really stagnant markets in the whole list OF
commercial reports, with the possible exceptions OF
hay and beans. Never had the State better outlook
than to-day.
The way American girls are getting to the top
A..