The San Francisco call., 1901-10-07
CURRENT COMMERCIAL CONDI-
TIONS.

- ONE irregrlarity in trade was visible last week
A hating tendency appeared in some lines.
~ There was no falling off in the general aggre-
gate in trade, far as commercial reports ind-
Gated and the countrys bank clearngs were 3o8 per
cent larger than during the week last year, but
the staples controlled by the trusts showed more or
less hesitation. This especially the case in Wall
street where the inGustrials were weak, with the
banks calling in a good many loans them in order
to get rid OF those which might be cassed as doubt
ful collateral The industrials have recently exhibited
less tendency to rise, and as some of them have
appeared less unsteady the public has shown
a disposition take their profits where they could
and retire for brief until this class
of securities shows more strength. The decline in
Amalgamated Copper, which is said to be due to a
lessened demand for the raw product, has been the
governing factor in this liquidation. 1t will be
remembered that year ago the New York
banks began to look the industrials securities
with some disfavor and subsequently weeded good
many of them out of their loan accounts They are
doing the same now, and including in the process
OF less low priced, non-dividend paying railway
shares. 1t is apparently one of those periodical s-
ing out seasons in the banking business when halt
is called all securities that strictly first class.
The staples show little change. The iron and steel
trade is still reported in good shape There are
enormous contracts for steel rails for years
delivery hence no dullness in this line is expected
in the future. Wool and woolen goods are
moving off steadily at good prices, and the demand
for boots and shoes so much better than anticipated
that jobbers in sections report that they are
unable obtain goods enough fill all their orders
Hides have gone up and quoted firm. Provisions
have been unsettled Of late, going up day and
down the next. Prices are high and the sentiment
among operators is that they cannot be maintained
long. The great packers have been standing under
the market so far, but whenever they relax their
hold the market at once softens. Wheat rules weak,
a large American crop and liberal offerings from
Russia the English markets operating against
any hrmness
The feature of the local situation last week was
the settlement of the greatest strike ever experienced
in this city and which during its course of about two
months seriously diminished the business of an other
wise very active and profitable year The loss in
dollars cannot be accurately estimated but it was
immense. When the strike began many lines of
trade reporting the greatest activity in their
history and the months OF August and September
among the best have. But even with this
handicap our local bank cearings showed large
movement of goods, and they almost invariably ex-
ceeded those OF last year This fact alone will give
falr idea OF what the community lost through the
strike Everything is running along about as usual
again, however and when the accumulated business
is got out OF the way and the commercial decks
cleared for business we ought to roll up a fine
fall trade Prices for almost everything produced in
the State on a profitable basis to producer.
manufacturer and merchant and it is pity that such
a fine year should have been so disturbed The early
rains seem to foreshadow good rainfall this winter
though the sign is by no means infallble hence the
outlook for the State continues brilliant