The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1899-12-18
An ACTIVE HOLIDAY SEASON.

f" ONE idea OF the Unprecedented commercial
activity in the East may be gained by the state
- mcut IN Dun's weekly review that the ap
roachng holidays make all welcome season OF
quiet" Who would have thought a year or two ago
that business would ever become so lively that mer
chants would welcome season OF dizziness? And
yet this seems the case Never before has trade been
rs active during the closing weeks OF the year. Il
was pointed out last June and July that the usual mid
summer dullness wanting. but nobody thought
:lat the Christmas season as well would exhibit the
same condition.
j Is curious however. that while the railroads and
great industries are enjoying period OF such pros
pcrty their stocks are going down in Wall street
In commenting this peculiar feature OF the situa
ton Dun's review goes on 10 say:
Never has production been greater the number
az hands employed larger. the wages distributed
higher. nor the purchasing power based on earnings
greater han IT tins time. and never have conditions
81 trade returns Of earnings and traffic given
certainty of greater business for transporters Yet as
The earnings oi the railways and manufacturing com
ranies mount upward their stocks decline. as if it
were disastrous Tor a road 10 double It's earnings and
rrinous ior mill to enjoy unprecedented prospects"
Tight money in Wall street explains this. Con-
t;nuei British reyerses in South Africa with pre-
,ors tension In funds have strained the money mar
in money SPECTATORS everywhere have been forced 10
throw their holdings on the market to realize This.
OF course has depressed quotations In New York
,hc situation has been eased by the offer OF the
Treasury Department to anticipate the January bond
interest which releases Sssooooo in gold. Still. the
market IS by no means as easy as it might be
in strictly commercial lines there is no scarcity Of
funds. The gringency being confined exclusively TO
Wall street and the great staples continue active and
fm While iron is not as excited as a wear 400
the demand Is still sharp and most OF the 1000
product Nill probably be booked by the end Of 1Soo
tlus insurirg another year least OF activity The
call for boots and shoes is reported enormous and.
indeed many factories are not looking for new or
ocrs having their books filed for some time TO come
Leather and hides are stiff OF course. in svmnatby
with this demand FOR boots and shoes There is M
weakness apparent in WOOL and sales show scarcely
amy diminution. Cotton goods are largely soll
ahead a fine spring business having already been
booked. Business IN holiday goods is reported ex-
cepuonally brisk. Wheat continues the only d;san-
pointing staple and still lags at the tail end ~ the
commercial procession
Continued rains in California. while PROMISING q,
prosperous year are rearding farming operations :;
some Localities. particularly in the north and alone
the coast. where the soil is too wet to work Farm.
ers are now waiting FOR drying weather. The moye-
nent In merchandise continues above the normal TO-
tins time a the year and almost all lines reoo-+ -,
active demand for goods with few failures and EASY
collections The bank clearings OF the country ~
large during the week showed gain OF 49, per cent
over the same week last year while the failures r.-.
only 2iS against 26I in 1893 Thus. from the Allan
nc TO the Pacific there is not an adverse condition IN
trade during these closing weeks OF the year excent
the weakness IN wheat already mentioned This is
condition Of business not often seen