The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-10-13

First arrivals of new crop sugar at New
Orleans sold at the lowest price paid
for many years. Southern lumbermen
anticipate higher prices. Notable price
changes of the week have been the de.
cline of &c. in cotton and raw sugar, q
TO soc. in pork, and soc. a ton In steeI
changed on the week. Heavy cutting OF
prices of refined sugar Is reported
throughout the West, owing to eforts OF
grocers to dispose of large stocks car
r1ed in anticipation of tarift changes
The total number of business. failures
in the United States his week is 2SS
against 25 last week. 46 in the week a
year ago, sand 11 two years ago.
The stock market is very dull, and
exhibits a partial recovery from the de
preston created by fears of an overflow
of specie. Professional interests have
been supreme, and the chief interest is
found in the m~anipulative improvement
in Sugar, Chicago Gas and other stocks
of the same class. Bonds are d9acelvs,
are scanty, and any buying advances
prices. Foreign exchange is strong but
duh at 4.S7ls. Gold shipments to Ger
many are not impossible around this
figure, but the market is too limited and
demands too small to favor shipments.
Bank clearings at Y cities for sor, he he "
ending Thursday aggregate S92I, 42S,SH, a
decrease from last week of 10 per cent,
but an increase of 3 per cent. over last
year, although 2.7 per cent. smaller tnan
this week two years ago. exports OF
wheat. Including four as wheat, from
both coasts of the United States ana
Canada for six business lays ending
with Thursday of this week aggregate
s.sf7.o4s bushels. which is compared with
2.243.00o bushels sent abroad last week.
$50, 900 bushels in the second week of
October last year, S,625:oO nusneis IN
1892, and 1903. 900 bushels in 1881.
Gross earnings reported to Bradstreets
of 1928 roads, representing $4,000 miles of
road, show total earrings FOR Septem-
Der amounting to S3S. 0sS, 0D, a decrease
of ( per cent. from September a year
| ago. Heavy Worlds Fair traffic a year
ago explains decreases OF roads east Of
another exceptional increase of 3 per
| cent. Pacific road earnings are : per
| cent. better. For nine months OF tne
present calendar year the oecreass VI
| ali lines reported is about Is per cent.
From r. G. Dun & Co.'S Weekly Review,
Business is still waiting for the devei-
| opment of retail trade. There IS ht.e
better demand nd d n sem Mh anassfeie de.al ers
In nearly all branches are hating pc
cause retail business does not yet snow
| distinctly what it is to be: Lower prices
| for the great farm staples, and lower
wages in some establishments, hinder
| purchasers for consumption, WINE po-
| iiticaI interest and uncertainty also nave
| some retarding influence. MeaEwhlIe
| large imports and small exports of mer-
nhsndise' with inadequate employment
for money here, are raising the rates
of foreign exchange SO hat posslniiltfes
| stock market. The hating attitude Tor
| the moment is disturbing. to those VINO
rave looked for continued gain, tnough
| rightly considered it is the natural con-
| sequence of conditions which were TO De
| expected at this season.
The government crop reports are not
| greatly trusted, and yet have an n
fuence, and actually exaggerate the
| tendency toward lower prices because
they are supposed to put all the crops
too low. Men calmly reckon that, II the
! government report indicates Nover 400
| million bushels of wheat, the crop must
be over 500 million bushels, and though
| Western receipts for the week have been
only Ass, O75 bushels against $685., 302 last
| year, and Atlantic exports only 64i,24s
bushels against 300, 1854 last year, the
price is slightly lower. Corn mas peen
stronger, for receipts are hardly a guar
ter and exports barely an eighth OF last
| years, and men question whether the
| actual yield, if above the government
estimate, may not prove lower tnan mas
been supposed. The cotton returns are
more confusing, but all point to a yield
so far above that indicated by Govern
ment that it's statement has been follow
ed by a further decline, for the week
~one-quarter. The receipts thus far hard
ly encourage extremely large estimates,
| and yet it is to be considered that the
| crop was later h usual ~
Reports from the different cities show
as they did a week ago, that while ex-
IRENE low prices for cotton and wheat
| West and South, there is nevertheless
a gradual gain. Monetary movements
indicate that the expected expansion of
| interior trade has not been wholly real
lied, and the demand for currency from
this city has materially slackened. The
demand for commercial loans is weaker,
and three per cent. is quoted for prime
four months paper. Some anker re-
port further withdrawals of foreign cap
ital, and sterling chang is so strong
that exports of gold are considered prob
able, an important cause being the APP
prehension of possible disturbances II
the Cars malady should terminate
fatally. Foreign imports for two weeks
| nave been Sc, 800, 900, or 56 per cent. larg-
er than last year, while in exports of do
| mestic products a decrease of IL per cent
appears for two weeks of October. Yet
customs receipts for the two weeks are
only $3.50, 600 larger than lest year,
| internal revenue $1,2S0, 900 smaller.
The stock market has been tin1id n
| inactive, declining only 8 per cent. per
share for railroads, ad gaining 10 cts.
for Trusts. The railroad earnings are
! not as unfavorable for October thus far
as in September, showing a decrease OF
| s. per cent. for the month against ~ for
I September, and compared with 1S92show-
ing a decrease in October of 10.6 per cent
against 1875 in September. Analysis of
| September returns shows that freight
| earnings increased So per cent. on the
roads reporting against 49, in August,
/ while the decrease in passenger earn
| ings was 14.5 in September against 1876
| in August. The tonnage movement from
| Chicago continues behind that of last
| year, for the week q per cent. and for.
| the month thus far ~ per cent. The ex-
| changes at principal clearing houses for
the second week of October are relatives
ly smaller than for the first week, eX-
| ceed1ng those of last year only 81 per
+ cent. while 2l.5 per cent. less than in
1892. The general average of prices IS
| now about 6 per cent. lower than a year
| ago., though still somewhat higher than
in July last. Fl
The iron industry records larger pro-
duction in September than in any other
month this year, but as prices are grad
| ualIy weakening because of insufficient
demand for finished products, some
| works are preparing to close or shorten
L time. A few good structural contracts
are reported, and two amounting to
/ 1000 tons for steel rails, but combine
lions hold up prices of rails and wire
satisfactory, and Bessemer pig and steel
1 billets are weak. The season for boots
| and shoes has been unusually. good in
number of cases shipped, but in value
the decrease must be large. because OF
] the general preference of low priced
goods. 1t is stated that ~ per cent. of
spring orders are for shoes selling at 81
or lower, and heavy shoes have largely
| taken the place of boots. Most shops
| have orders for some time to come, and
demands fer immediate delivery are
/ stilInumerous. The demand for cotton
goods has materially slackened, and
prices nave become irregular, although
resumption of work at Fall River and
New Bedford with only 5 per cent. lower