The San Francisco call., 1906-06-11
TRADE CONDITIONS STILL SOUND.

Thus far the first calendar summer month of the
year is making a bright exhibit in trade. The
usual commercial statistics and reports from vari
ous lines Of business throughout the country all
indicative of continued mercantile, financial and
industrial activity The weather last week was not
unfaverabe, either to growing crops or the distrbu
tien of merchandise except in scattered sections
Drought conditions have been generally relieved III
the winter wheat regions where rains had for some
time been insufficient or wholly lacking. The poor
est prospects are in Missouri Illinois and Michigan,
but these are not the largest wheat growing States.
Elsewhere the conditions favorable to a good
yield.
The staples are in satisfactory form on the whole,
The export demand for cotton is less than could be
desired. especially for China, which is out of the
market at present with a heavy accumulation of
stock at Shanghai. The general export trade in
cotton. however, IS larger the whole than was
expected a little while ago. This season s crop of
about 100000 bales has been practically marketed
AZ an average Of 1112 cents per pound, while the
I4O00O00-bale crop of 1904-05 brought an aver
age OF only 91s cents. so that this season is not
making bad showing after all. 1t is predicted in
same quarters that the world will need 100000
bales of American cotton next year so this industry
!, making a very good exhibit in the aggregate.
The woolen trade presents no new features
frn with sellers not disposed to make concessions.
The iron trade Is still reported in excellent condi-
ZION. with prospects for abnormay heavy sum
nler consumption. Hides are reported rather
easier at the close, though quotations main
tanned. Some lines Of lumber are weaker, but the
lower quotations for these descriptions have pro
duced more business
The destruction Of large stocks Of cotton wooden
and leather goods say nothing Of prOportionally
large stocks Of general merchandise, IN San Fran
cisco has stimulated the demand for goods in many
Eastern trade centers as this city has been very
large purchaser Of all sorts Of necessaries in the
other commercial markets since the fire, and this
has Swelled the trade aggregate more OF less
The bank clearngs mounted again last week
showing gain Of S9 per cent over the correspond
ig week IN 1905. while the gain for the country
was 50 per cent, much better showing than that
made by the preceding week The only important
city showing loss was San Francisco. which fell
behind 30 per cent. not bad exhibit considering
the extent of the April catastrophe. The failures
for the week were POS against 216 last wear
Money il New York showed rather lower interest
rates hast week and the leading feature was the
return OF funds from San Francisco in'large volume
which continued to attract general attention and
favorable comment. 1t is helping the Eastern finan-
cal situation ard is taken as evidence that the San
Francisco banks have all the funds they need. even
with the extraordinary conditions prevailing here
present II IS the general belief that funds Will
be in good demand the rest cf the year as the first
Of July dividend and interest disbursements are
drawing nea-. after which will ensue the regular
fall demands for moving the crops, bat no strin-
gency IN money is now expected.
The New York stock market is quiet and about
normal There IS speculative furor at present
and the market being largely in professional hands
shows no features calling for comment. The volume
of daily sales is small.
Conditions IL local financial and mercantile chan
neIs remain about as before. There is plenty of
money here. more than needed for commercial re
quirements in fact and crop conditions, owing to
the unusually late spring rains, are most excellent
Business conditions in this city are steadily being
restored, and the change from day to day is per
ceptible to the most unframed and casual OBJ
server. It win not be long now ere we shall be
fully back to the old volume Of trade and our
weekly exhibit, indicated BY the bank clearings
once more in the column Of gains over preceding
years.