The San Francisco call., 1904-02-15
TRADE IN GOOD CONDITION.

times excited there was less fever than during the
preceding week The great FIRE at Baltimore and the
outbreak of the Oriental sufficient to derange
business but they hardly caused ripple the
cal pool The had been discounted and therefore
came not surprise, but something expected and
largely prepared for while the conagraton met by
a well-supplied and comparatively easy money market,
which proved equal the strain both these adverse
conditions passed the country like violent but
brief thunderstorm the landscape Immediately fol-
lowed by blue sky.
With cool American philosophy the public dis
posed all possible consolation of the FIRE
True the commercial quarter of of the largest and
important cities had been wiped out but it would
have be rebuilt and millions of dollars would be put
into circulation thousands of persons given
tive employment and quantities of lumber, struct-
ura and furnishing material purchased in the work of
reconstruction "What can't be cured be endured,
said the public and Immediately turned its attention,
before the embers had become COOL to rebuilding
the CITY, There panic and surprisingly little
sternation while the conhagraton raging,
which is but another illustration of that
Americans are without doubt among the coolest and
philosophical in the world.
The war is regarded in very much the spirit
We inclined take the commercial rather than the
sentimental view of it. War, say is bad thing but
it has broken out and the beigerens must have vast
supplies for their armies and navies and large per-
centage of them be obtained this country from
factories and farms; from cold-blooded stand
point of dollars the United States will be bene
fted rather than damaged by the Oriental clash. So
the fire and the war pass and leave calm.
In fact we seem be passing through all sorts of
crises without a furry. That stringent money market
which anticipated with less apprehension last
year has yet appeared spite OF the Panama canal
payment of $35,oooooo and the great liquidation in
stocks and iron and steel products of 1908 has left the
financial interests of the country in much better condi
ton than before.
New York reports large of BUYERS from all
parts of the country showing expanding merchandise
movement and the reaction cotton has again brought
purchasers of material into the market with liberal
orders. Labor conditions remarkably free from
friction the Inclement weather has cut
dsrbutive trade in sections, yet the demand
for goods fully up the average of this time of the
year and the usual depression and hesitation character
stc of Presidential years have not yet appeared As
far as indications go the country
on commercial basis and the pessmism of
has almost wholly disappeared
The war has advanced prices of silk. tea. beef and
pork products and the different grains forages hides and
leather mention large number of minor products
of American industry An increased demand for
structural iron and steel and steel rails has placed the
iron trade on broader and profitable basis Wool
is firm, with steady demand for the product Pro-
visions are queter still very good
The demand for California dried fruits has suddenly inn
proved during the past few days. with corresponding
steadness in quotations. Trade in footwear and cloth
ing reported exceptionally brisk About the only ad
verse features present the diminished railroad
earnings, due. however. unfavorable weather
than any decrease in the volume of trade, and the
recent wild speculation in cotton. coffee and wheat.
which banking interests looking with askant
and repeant eye The failures making satisfac-
tory exhibit those last week numbering 228, against $50
for the corresponding week in 1908.
The Wall street stock market unusually quiet Sat
urday reported the duest day record only $4,000
shares selling the Stock Exchange The market has
been devoid of especial feature for several weeks.
Prospects in California bright The recent rains,
while not copious the southern part of the State
might have been desired have the crops the
present at least and there is extra demand for
grain and forage for the Orient in consequence of the
war the outlook for farm products is better than for
years The farmer has had several very good years.
if the Japanese purchase what they supposed want
and what they now credited with trying to
cure the State will be put its trumps supply their
demands They drawing California
Oregon and Washington for large lines of barley oats
and supposedly hay, and the is oversupped
with any of these products it is the general opinion
among the large handlers that prices for all will go
higher rather than lower as the season advances.
immigration into this State is at rate witnessed
since old gold days and is of the finest character
consisting of actual settlers from the Middle West and
the railroads continue their progressive
intelligent policy of colonizng the State by of low
transportation shall have population un-
dreamed recent years AS for San Francisco pop
uation increasing surprisingly, the
server may glance along the business streets
and through the residence districts, and owing to the
abnormal activities the Orient rapidly becoming
distributing seaport of the first magnitude. Our pros
poets for good. year were never brighter than at
/