The San Francisco call., 1905-05-22
TRADE STILL EXPANDING

markets exhibited pronounced changes
last week, except in Wall Stocks which very
settled with irregular quotations. The general
the Southwestern wheat sections the Chicago strike and the less
favorable from the and steel industry This latter
latter Of the week heavy selling steel shares
dered the whole stock list weak and carried both railroads and indus
trials down with it This in the face OF good reports from the
textile mills railroad earnings those
thus far IN May showing OF May 1904
1t seems rather singular that one industrial line should affect all
the other ndustra when the showing OF the latter excellent
rule but such the present and shows what influence
da p that the president Of te ornoaton went to Europe with
the smiling that such cond
ton but before he had hardly arrived the
unaorab reports regarding the outlook this line spang and
caused general selling only of the steel shares but of everything
else the list But has been the gratifying rule for time
money this heavy liquidation
funds continued very plentiful with the usual low of interest
The decline stocks thus apy stated bya we'll
known Waree brokerage house Crop damage and
heavy selling heavy sell
ing We getting first crop and likely these fac
tors will be well discounted and the usual May declines the
securities market will be witnessed Sensational about
IN the est and stories OF shutting down mills and plants OF ste
corporations coming thick and a but rest assured
they The steel trade getting natural setback
duness from the rapid pace of months but orders hand
will be Forthcoming for long period keep all the mills busy and
week of cloudess weather will make crops finer than 1t
all these unavorabe features being crowded into this week
The and backward weather which has caused the
damage the wheat the Southwest and OF the
ting regular goods of
general business But the dmnution the dsbutive movement
may judge by the clearinghouse returns which
show for the week of the correspond
ing week last with every of the forty most important cities
and the list exhibiting increase except Buffalo, which
shows small loss OF The aggregate clearngs were
S26zLzooooo good showing
These confrmato of the statement frequently made
of late that the general business of the country contracting but
steadily expanding only naturally in Of the normal
population but actually beyond showing that large
production is has not yet overaken consumption This current
of trade activity surprising has continued
and shows signs of ceasng 1t must OF
end time and nobody thought that it would last long
has, but still with bright and lively and what
especially gratifying without fever undue speculative activity
The staples firm. Lumber hides and leather wool
and wooden goods the different cereals groceries,
general clothing dairy products structural
cabudng landpurchasing house construction farming mple
ments railway freight and traffic foreign and i'm
ports and fact almost everything readily percepbe the
qung ey than normally active while prices gener
ally higher than the normal of years All this is simply the
exhibit of prosperity which apparently endless though just
observed end time other The volume of trade
well illustrated by the statement the woolen trade which
that all the mills of the American Wooen Company have their
entire product sold which the the largest
business and profits in its history And this only of many
similar statements which appearing every few days.
The outlook this continues bright usual Our
prospects, while brilliant months ago. still excellent
local and trade active banks report funds
really building large
apparently unendng scale labor fully employed with wages
far above the normal of years. of homeseers
pouring the State from the West and merchants wholesale
and RETAIL reporting business good and collections up
the with than the usual OF failures What
better commercial conditions could we ask?