The San Francisco call., 1903-12-21
CHEERFUL TRADE REPORTS.


some parts of the country The recent pessimsm has
almost wholly disappeared and that the great
shrinkage in values the New York Stock Exchange
has practically ceased the gloom which settling
down the country has been succeeded by feeling
confidence and buoyancy. The retailers report
holiday trade and the jobbers sending equally
bright reports The wholesale trade OF course quiet
as it always is just the turn of the year.
Nobody anticipates recurrence of the abnormal ac-
tivty and high prices of 1902, however. That is
past A Presidential election is the chief number the
programme 1904 and business always slackens off i'll
Presidential years So need not expect great things
1904 unless another foreign should arise and again
throw the feversh activity of temporary boom.
But business activity which has for its base is not
healthy condition. The reaction is and the
ultimate consequences serious. Better dull times and
peace than activity and
The leading features of the current revival of trade
better feeling in iron increase in building permits
many of the largest cities presaging lively building
eratons spring, the resumption of work by many
mills different lines throughout the country excellent
from the railroads. easiness in money where
serious rngency had been apprehended imports instead
exports of gold almost complete liquidation of
foreign obligations. decidedly brighter feeling
financial of New York and fine crop pros
poets almost everywhere. Against these encouraging
features however have unsatisfactory cotton
ket with higher prices checking the demand and pro-
ducers restricting output, diminished demand for -four
in the West and Northwest, which has caused number
of mills in Minneapolis shut down; decrease in bank
clearngs and increase in failures. The loss in bank
clearings last week 1873 per compared with
1902 with losses than gains among the dozen
largest cities The failures for the week 32o,
against 2o7 last year.
The provision market which is excellent barometer
trade, is showing tone with the Western pack
accumuatng stock in their cellars expecting to get
higher prices for the future, while the
La,k +,a
The New England footwear factories sending in good
reports but the and woolen textile mills do
port any activity their lines. Raw cotton is high and
unsettled which keeps manufacturers and afraid
buy heavily. while wools simply dull.
The condition of trade on this is largely reflex
of that throughout the sections of the country
Business general better here than there however
There is steady demand for the products of farms
and orchards, which is cleaning up everything that
produced this year and good prices rule. Many
branches of agriculture than prosperous Our
darymen have had uccessvey three four of the best
years they had. The grain growers and hay farm
have been getting fine prices for their wheat and for
age The hop growers have selling their crop
than per the of production. The
livestock rasers have found ready market for their
stock better prices than thought possible FIVE
ago The and fruit drers have been active
purchasers of the staple orchard products for several
sons Wool though dull at the moment has brought in
fine returns to the owner of sheep. The exports from
Francisco by during the first eleven months of
1908 amounted in round numbers to $44ooo,ooo,
pared with $38 100000 during the corresponding period
in 1902 and $3745oooo in 1901 Besides these exports
quantities of produce of the State
rail 1t is expected that the exports from San Fran
cisco during the calendar year closing will amount
to about $5ooooooo What better showing could Cali
ornia expect than that contained in this paragraph?
OF this agricultural and mercantile prosperity is
having mighty effect the pockets and spirits the
community San Francisco is growing as never grew
before Great buildings going up all sides and
every mechanic in get all the work he at
wages which would have turned his head a few years
ago. This activity in building has stimulated the real
market and realty prices have gone up sharply
during the past several years. while thousands of pieces
of land have changed hands. Innumerabe building lots
held for years by who unable improve or
not sufficiently speculative to build upon them, have
passed the hands of moneyed men, who are putting
up all sorts OF structures modern and attractive The
San franciscan who after absence of ten
indications the transformation during the ensuing
ten years will be equally pronounced.
This expansion in the city is being duplicated in the
country where the thousands of Eastern Western
coonsts, taking advantage of the low transportation
rates offered by the railroads. buying up tracts off
the great ranches and turning the State from great
wheat field and stock range into country of small and
highly cultivated farms the best basis for States
perty Land that could be sold few years ago is
now being transferred these newcomers and from all
the State reports of activity land ransac-
tons and at better prices than owners expected to
realize OF under these conditions the State and
city cannot be anything else than prosperous.