The San Francisco call., 1904-07-18
MORE VARIETY IN TRADE.

the great packers strike the West unsettled
dtions which had apparently become settled for
time TO come and the week another illustration of
the fact that know what is going to happen
As the crop outlook, it may be said that heavy rains
by overhow;ng fields, delaying harvests and causing
wheat sprou in the shock have reduced previous
Inmates OF the size of the The Government report
of the condition OF the July indicated yield of
o6oooooo bushels, but all the recent damage has hap
pened then, hence this estimate no longer stands
Snow, the stastcian estimates the loss throughout the
country at from sooooooo Ioooooooo bushels while
Jones of the Commercial West estimates the at not
to exceed $50 100000 bushels.
The presidents of several of the great railroad systems
which depend upon the wheat and for large
share OF their annual business that the loss to the
transportation companies through the reduction of
grain output will be serious These statements may af-
feet the quotations for the Western railroads in Wall
later but thus far the shares have shown but
little effect OF the weather conditions Again those
tions where the damage has been acute will prob
ably send very bright commercial reports during
the of the year, the conditions in the West
considerably unsettled During the past day or two
however the weather has been better and there is dis
position believe that perhaps the damage has been
overestimated
AS for the corn and cotton crops, they in good
condition and conditions based them reported
highly encouraging The wool industry continues very
active with continued eager demand for fleece and
advance prices of per the wool sales
in London the I4th.
The feature of the week. however the great strike
the Western provision The direct results
the immediate advancement in prices for meats
throughout the West and East and the throwing of
thousands of men OF employment. Cured meats,
however actually declined the Chicago Board of
Trade the packers reporting large stocks of hog pro-
ducts The San Francisco provision operators who are
closely posted as to affairs the Western packing
points, say that the strike does continue long
Will be very beneficial to the great packers by enabling
clear off these accumulated stocks, large
ton OF which medium and lower grade goods
week of dleness the great packing plants will
therefore be apt worry the packers The strike
is interfering with the deliveries of hides the
and those who of supplies anxious the
situation which may result in shortage in leather and
advance in the price of hides.
Conditions in the other industries irregular Fall
River mills unsettled by proposed wage readjust
and there is less dleness among the
and plants with the belief that pig iron
will be smaller than for any month Building
operations sufficiently lively increase the
call structural material and the demand for lumber
we'll for iron and steel is much less than for
eral years past Exports of manufactured goods, how
reported larger than any previous year. In
fact foreign trade for the fiscal year to
largest reported figures for port
New York show gains OF S53o2So exports and $1,000
IA in imports, as compared with the corresponding
week year ago.
Railway earnings for the first week in July per
cent below those same week in 1908 and the
gross earnings for the fiscal year just closed will prob
ably show increase any previous year. but wages
and of material have undergone such changes
during the year that is possible determine
I the result OF the country's rail traffic
The dstributive markets continue quiet as usual eat
this time OF the year Collections are reported rather
slow than otherwise The best commercial reports are
coming from the South. where the situation is
dominated by the CROP which, already stated
very promising The countrys bank clearings for the
week only II per cent below those for the
responding week last year and the aggregate cearngs
again up the $zooo, 100000 mark They have
done this for time, and the sign good one
The failures for the week 225 against 22S last year
The buoyant in Wall street. noted during the past
several weeks. apparent during the whole week
With conditions unsettled they the
change the wheat crop outlook the provision strike
cent large liquidation the market shows surprising
vgor and hrmness and the sentiment was buish all over
the street, with everybody predicting better market
sooner later There is vestge of pessinsnl
left in Wall Everybody the market to go
up and almost everybody expects that it will There
large leaven of caution still observable however and
it continues dominate the situation A burned child
/ fears the FIRE
curious financial mares nest has just been uncov-
cred by the New York Evening Post 1t has discovered
that number of large companies in New York are
i carrying of idle money. which they
paying about per interest, standing their
books cash hand and in banks 1t has known
for year that the of money idle in New York
is vast and the location of this idle money now known
The Post says that six important companies holding
SIs6o3oooo deposits have S47oS5ooo in cash and in
banks" Ordinarily companies would have scarcely
SI3oooooo apportioned, for the present basis the