Los Angeles herald., 1907-12-11
TO sEl1IT S73N:
READJUSTMENT IS
NOW TAKING PLACE
DEALERS ARE OPTIMISTIC OVER
FUTURE MONTHS
r. G. Dun & Co. Reports Los Angeles
Business Satisfactory and Country
Trade Better Than Last
Year

r. G. Dun & Co.'s monthly review of trade
conditions for November in Southern Califor-
MIA is as follows:
The acute stage of the financial crisis Is past
and the readjustment Is with us. People real
ize that the worst is over, that the years s
new wealth from abundant crops is greater
than ever before; doubt of their being
moved usual credit basis: that there are
Just many people to be fed and clothed as
there were few months ago, and an export
demand greater than ever. 1t has been DEM
onstrated that it is not question of how
much money there is, but the general conf
dence in conditions that permits its healthy
operation Yet when all conditions seem to
demand moro than normal activity there is a
disposition to halt in every line of industry;
to wait to see more clearly before taking a
step forward in any enterprise.
This attitude, of course, is conducive to just
that business situation that is feared. This pol
icy in the mercantile world springs from no fear
of present future conditions, but from the fact
that the money stringency has put a stop to
advance in the price of commodities. and there
Is a tendency to lower prices. making buying
only for present needs. This attitude is felt
in every industry. The past month has been
busy in this section and good returns
are coming in from nut, bean, celery and holi-
day orange shipments.
The walnut crop of 100000 pounds Will
realize to grower sl7O0.000, nine-tenths of out
put being No. soft shells, marketing at Is
cents Bean movement this year retarded
by prevailing conditions, but heavy shipments
the last of November indicate that activity
has begun. Limas are still quoted 75 cents to
81 per hundredweght higher than a year ago
but market is not strong.
The sugar factories have just closed most
satisfactory three months campaign
The early market for celery has been slow.
The demand, account of unusual offerings
of the eastern product, has not been up to the
usual mark at this of the year. Cut
ting has been held back, but heavy shipments
are expected to rule during December. New
Lii. .rrIrOk q
third larger than previous years. Dried fruit
is moving slowly. Apricots and peaches show
unchanged prices. Prunes are 1s cent lower
on old crop. medium sizes. The holiday de-
mand for raisin5 has been supplied There
are 20 900 tons still in the state mostly in the
hands of the growers. who able to hold.
Situation Strong
The situation In all cured and canned fruit
lines is strong While there is not much de-
mand, there is decrease in consumption.
Stocks are light, both on the coast and east,
The balance remaining on coast should go
out at good prices, on return to normal con-
ditions. Any price concessions on futures are
deemed unwise by those who should know, and
tend to unsteady present market.
Citrus market has on the whole been good
for the month The last Of the Valencias have
been shipped. Tho returns fully as large as
last year. The crop navels matured car
ier and shipments were largely in excess of
last season. Demand was steady. but financial
conditions were apparent in a lower scale Of
prices ruling than anticipated. Cash buyers
California, were not in evidence to any extent
and the best fruit from best districts COM
nlanded but s1.95 to $2.25 (. o. b.
Dealers very optimistic regarding Janu
ary and February markets. Lemons are SELL
ing freely for this season Of the year at good
prices
The oil Industry of Southern California con-
tinues to show increasing activity. The tre-
mendous demand for product is overtaking
established fields and many new fields are be-
ing exploited. In some instances contracts at
81 per barrel have been refused, and talk is
heard OF s1.50 a barrel soon IL prevailing con-
ditions do not change.
Locally business moves along satisfactorily.
Confidence IS largely restored. Wholesalers re-
port city fairly good country trade better
than last year. Big retail stores report
Eonable trade-luxuries moving as we'll as nee
essaries.
Value of building permits shows a decrease
5f only S249 900 under November, 1906 Post
Office receipts show an Increase of SIl26 over
game month. Money seems plentiful in pri-
vate hands; obtainabe at and per cent.
Stock buying is active and low prices of ex-
cellent securities has acted as stimulus 10