The San Francisco call., 1906-06-18
LOCAL AND GENERAL TRADE.


hind Pittsburg and just before Baltimore. The fire.
however, displaced her from this position. For
month she did not appear in the column at ALL
cept with the note: Figures not available
When business here was finally resumed. and the
banks reopensd she stood eighth on the list, just
below Baltimore. Last week however, she repassed
Baltimore and once more occupies her old position
as the seventh city in volume of trade with the
spectacle showing of $50 POI 754 decrease of only
10 per cent from last year, as compared with de-
crease for the preceding week of 30 per cent The
cearings of Baltimore were 500 164 857 an increase
Of l69 per cent San Francisco may well be proud
Of this rapid regaining of her old position, which
is most fattering one, considering the complete
Wping out Of her great wholesale district
The clearings of the rest Of the country last
week were s., ,654 945 600, a gain Of lis per cent
over the corresponding week last year which
afirms the statements of the commercial agencies
that trade is maintaining the high plane Of the past
eight years Other afirmatory figures are the in
crease IN railroad earnings in May of II per cent
over May 1905 and the record of failures those last
week being only l83, against 229 for the same week
In 1905 In addition, the agencies report that cur
rent trade is active that in many branches the
usual summer shutdown viii not occur. and that
the distribution Of merchandise all over the country
is only very large for this time of the year but
actually expanding. 1t Is a healthy and natural ex-
panson, too, based exclusively the law of supply
and demand, as speculation is at a comparatively
low ebb
Wall street is quiet and devoid of feature. Trad
ing Is of a professional character as the public are
IN the market any extent and the profession
ais have the field to themselves The daily sales are
running low, ranging only from 100000 shares up,
and not often Of late reaching a million In active
periods they run about 100000 and occasionally
over 100000 shares.
Crop prospects may have something to do with
this dullness IN Wall street They are not as bright
they were a month ago Rain is needed in por-
tons Of the cotton belt, notably IN Texas and
drought is reported here and there in the wheat and
belts Kansas IN particular sending in poor re-
ports Several of the hay and grain States also
sending IN unfavorable reports of the hay and oat
crops and are even predicting total failure of the
oat crop.
As the condition of the crops is the basis of the
country prosperity, Wall-street values are very
sensitive to the crop reports and or fall In sym
pathy. But weposted authorities, such as the Gin
cinnati Price Current for instance state that con-
sidered the whole the wheat crop looking very
well. The corn crop, however, is reported in pre-
carious condition IN some quarters though change
to more favorable weather within week or so will
put the plant IN good condition-again These crop
scares occur every year about this time. The trade
expect them and not apt to become excited over
them until they get general and serious, and they
have not yet reached this point There is plenty
of time yet for excellent crops of all kinds possibly
barring oats
The great staples remain about as before stated
Prices for most commodities are close to the record
level Farm products moving off well at good
prices and the farmers all the country thanks
TO the brilliant yields of the past few years. are in
hrst-class financial condition. Cotton and wool
hides and leather livestock and dairy products are
all in excellent demand at most remunerative prices
Continued activity in real estate and building all
hardware, lumber and other building materials The
iron and steel mills have orders booked well ahead
into 1907, and sending in most cheerful reports
general feeling Of optimism is apparent all over
the country.
The money market rules easy, with supplies of
funds than sufficient for all current and future
needs hence rates Of interest rule normal and mod
crate at all leading financial centers Call loans in
New York are quoted at 3l5 to per cent, and time
money at AZ to 80 per cent. Money continues to
flow from San Francisco back to New York in large
volume, and this is important source of easiness
to the current situation No reason to fear any un
usual strngency IN funds when the regular July
interest and dividend disbursements take place is
expressed IN every quarter
Taking the situation as a whole therefore. It
viii be that, barring the less favorable condi-
tion Of the staple crops some sections the mer-
camille industrial and financial status is as sound
at any time during the past six or eight wears.
and practically assures the nation of continuation
# its present prosperity