The San Francisco call., 1906-07-02
A BANNER TRADE YEAR.

i
Saturday, is said by posted authorities to be the
hest ever known in the United States. From be-
ginning TO end it was undisturbed by any serious
adverse occurrence except the San Francisco FIRE,
and that was disaster wholly apart from trade
The last half OF the year, or the first SIX months
of the calendar year OF 1906 shows, according to
all reports-a "a most remarkable record of CONNER
Cial and industrial activity
One OF the most salient factors of the current
situation: is the surprising building activity
throughout the country According to an Eastern
estimate Chicago is now expending $75,oooooo in
new buildings, St. Louis S5o,ooo,ooo and San Fran
CISCO some hundreds OF millions to say nothing of
roportionate expenditures in this line all over the
rest OF the country. This huge expenditure OF
money not in speculation the pursuit OF pleas
ure. bnt Tor the permanent improvement of the
country. is the best of testimony to the continual
ton OF that prosperity which has been with for
eight wears and which shows indication OF leav-
ing us 1t IS giving employment to hundreds OF
thousands Of professional men and mechanics and
drawing heavily upon the farm and factory for
Supplies: And it is but one OF many other factors,
equally productive OF prosperity
One other exhibit is worthy of note in this con
ncction A compilation OF statistics from group
Df 1879 industrial establishments during the past
five years shows that the capital invested in these
enterprises has increased ~ per cent during this
period. the amount in dollars footing up the vast
sum OF s. 500 100000 The salaries of officials and
clerks OF these concerns amount to S33I 100000 per
annum, an increase of 81 per cent in the five years,
while the wages OF 3,33I733 persons doing the
manual labor amount TO SI558.ooo,ooo an increase
OF a. per cent Facts like these attest the wonder
iul prosperity of the country, which brstles with
similar statistics from other sources.
]. Last week was simply a repetition OF scores of
preceding weeks There were the same bright re-
ports OF a good distributive trade all the
country, with collections normal and money plen-
tIful everywhere. The regular semi i-annual inter
est and dividend payments, amounting to about
SI6oooo.ooo. or some S2oooo,Ooo more than last
year, payable today, but thus far there has been
no material increase in money rates and no finan-
cial stringency in consequence is expected Call
loans in New York were slightly higher at to g
per cent at the close of the week but time loans
were dull at ~ to 54 per cent These interest
and dividend millions have been accumulating for
some little time and their release upon the conlmu-
nity will be Immediately manifest in the country S
circulation The bank clearings for the week were
S26z2S67, 900. showing a net gain for the whole
country of 6S per cent, with the great majority
OF the cities and towns ranged in the column Of
gains. The loss at San Francisco continues to
dwindle steadily, and last week was only o. per
cent against o. for the preceding week. 10 per cent
first week in June This shows the rate at which
this city is regaining its trade interrupted by the
fire.
The failures for the week were 2o7, against 24o
Tor. the same week last year. The railway earn
ings for the first three weeks in June were 10 per
cent larger than those for the corresponding week
in: I9o5. The exports of -four and wheat from the
country last week were 100000 bushels, against
75664o last year.
Crop conditions continue favorable in the main
According to current estimates we shall have a
winter wheat crop OF 42oooo,ooo bushels with the
spring. crop to be added to this total of course
The oat crop. as already mentioned will be light
and practically failure in some sections but the
corn and cotton crops are making an average show
ing. Expectations of fine crops of the leading sta
pies are expressed in all parts of the country and
il these expectations be realized we shall probably
have another brilliant trade year
The condition of the mercantile staples. such as
provisions, grains, groceries, woolen and cotton
goods, iron and steel, building materials both um-
ber and hardware, dairy products etc, remains
about before stated The midsummer season is
now with US and there>is never much change in
conditions, during. the heated summer term. Trad
ing in Wall-street stocks is quiet and largely in
the hands OF professionals and the market shows
no features worthy OF comment
Local conditions; too, are about the same The
State IS promised bumper crop of barley, a large
crop OF haya better crop of wheat than for the past
year or two and the usual good crops of other farm
products, with the exception of several varieties
OF fruits With these large crops assuring us of
plenty OF money from now through the crop
year our trade outlook continues brilliant
PRESIDENTS WORK WELL DONE.