The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1901-12-09
THE BUSINESS OF THE COUNTRY

MYTH the possible exception OF Wall street
Nv where the tendency in prices has been
rather downward than upward of late, there
is no indication of any in the current prosperity
Week after week passes with the same monotonous
chronicle of active markets and generally firm prices
for all classes of goods If any line says it
covers buoyancy, provisions being a conspicuous
illustration OF this inherent strength and ability to
readily recover lost ground Bradstreets has lately
been doing some figuring this cheerful condition,
and finds by exhaustive comparison, that after
a slight breathing spell in October prices, influenced
chiefly by the cereals, provisions and metals appar
entity resumed their upward course in November, and
the index number on December is 85,775, gain
Of seven-tenths of per cent the index number
Of November and of 3 per cent over the 1ow-water
mark of June I, but decline of per cent from the
high-waer mark of February, 1000. In all, six out
Of thirteen classes of products advanced during No
vember they being bTeadstufs, provisions livestock,
the metals coal and coke and miscellaneous products
forty-ve products advancing, tweny-three declining
and thirty-hve remaining unchanged as a result of
operations during that month. Compared with year
ago, ffty-one products higher, forty-two lower
and thirteen remain unchanged.
According to this exhibit the general plane of bust
is distinctly higher than year ago. which Ger
tainy does not indicate any falling off.
At the same time, there is no marked gain at pres
ent The country's bank clearngs, while larger than
those Of last year. still run low down in the scale of
increase the percentage last week in favor of this year
being 90 per cent whereas up to several weeks ago
II had Tor months been running high as so and y
per cent Decreased activity in Wall street may ac-
count for this falling off, the daily operations in
that stock market dc more to affect the nations
clearings than any other line of business The clear
ings of New York form over half of those for the
whole country In other words far as actual com
mercial and financial payments go, New York City
does trading every day than all the rest of the
United States combined For instance last week the
national metropolis did two-thrds of the business of
the country her cearings amounting to 81 oz2 ooo
those of the of the country to 500 and the
grand total of the country to $z,478I5I6oo New
York rather busy place. according to these figures
he staples continue in good condition for pro-
ducers and sellers, all being active and the majority
firm. he wooden mills and shoe factories continue
TO report large output which meets with ready sale
and the iron and steel mills are sold away ahead into
next year Wheat and corn have been higher and
active at Chicago and the buying of wheat by farm
ers amounted for several days to scramble to specu
late The professional spectators met the farmers
and Wall street buyers more than halfway. Iadled
them out all the wheat they wanted and pocketed their
profits with complacent grin The press dispatches
stated that for day two the countrymen and other
outsiders had the Chicago market in the hollow of
their hands as the professionals had lost control of it
under the enormous buying demand Still it will be
great feat if the amateur plunger eventually gets
away with the professional at Chicago or anywhere
else.
Our local markets show but little change The
weather has been perfect from the farmers and mer
chants point of view and the nippng frost at the
close of the week was exactly what was needed To
check the too rank growth of vegetation in orchards
and vineyards and lmPart strength to the growing
iced. Cheerfulness prevails everywhere the demand
Tor merchandise is first rate money is plentiful and
collections easy, and the State continues the crest
OF the wave of prosperity.