The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-08-04
THE BUSINESS OUTLOOK.
From B,udstreet,s ..state of 1rude.a

FROM bfu0StleetS state OF Ifttue'
While little significance is attached to the
moderate improvement in trade at San
Francisco, Pittsburg. Baltimore, Augusta
and Atlanta, when it is added that clearing
house totals for July report twenty-nine
cities with larger aggregates than in July
last year, contrasted with the June report,
which contained only eighteen cities with
aggregates larger than those in jane a year
ago, it is perceived that there are influences
at work at the interior favorlng an increase
in the volume Of business. The July clear
ings total at fifty-eight cities was 2 per cent.
| smaller than in June and the smallest of any
month this year except February; New
York City's falling off from juno was 3 per-
cent, Compared with July last year New
Works july total declined 23 per cent,
Philadelphia 10 per cent, Boston, Chicago
and San Francisco s per cent, each, and
Baltimore less than / per cent, st.
Louis and Pittsburgh alone, among
more important cities. showing gains
over that month last year. The
relatively better showing of clearings totals
| for July contrasted with the aggregate for
seven months of the year is found in the fact
that whereas the former presents twenty
nine cities where the totals are larger than
in July last year, only eight such instances
| occur in the exhibit OF aggregates for seven
mOQUIlS, DllSHdihptOu, SOfuiIDuS. 1opohd,
| Norfolk, Savannah, Dallas, Fort Worth and
Spokane, about IS per cent. of the whole
number. Wool remains steady at last weeks
one cent advance, speculation having been
stimulated by differences Of opinion as to the
| tariff outlook for that staple. Wheat has
advanced, in sympathy with corn, on III
creased orders and reports OF crop damage
from abroad, while corn's sharp advance is
due partly TO exaggerated notions of damage
from drouth. There is little likelihood of
the corn crop being smaller than in either of
the two preceding years, notwithstanding
our adyices OF % per cent. damage IN kansas
and 40 per cent. In Nebraska. southern
crop prospects generally are excellent.
From z. G. Dun Dc Co.'S Weekly ReujeU.
An important change in the state of bust
ness is near at hand. Congress will act ON
the tariff question, one way or the other, IN
all probability, within a week. If it passes
| the pending bill, or it it fails, in either case
the definite basis for future business will en-
able many to act who are now waiting.
w neither the one course or the other would
stimulate the greater increase, it is certain
that either would give relief from present
paTalyzing uncertainties, and cause some IN
crease in business at least for a time. SO
much business has been deferred during the
past year, and merchandise stocks have been
$50 feduced, that the mere approach of a de-
cision without certainty what it is to be,
has this week encouraged large preparation
for increased business. In spite of oatgo-
ing gold and sinking Treasury reserves,
| small RAILROAD earnings, some injury to
| crops, and increased trouble in the eeke
| regions, the tone and the outlook are more
hopeful
The injury to crops by hot winds and
drought, il as great as some report will
| affect all interests, but at this season it is
never easy to distinguish between local and
general damage. After making a new low
record at 5413 cents, wheat advanced IL
| cents, and corn 81 cents. Western receipts
of wheat were 6,400,254 bushels against
1902 COG last year, which does not encourage
notions of a short yield, and exports were
only l,599,563 bushels from Atlantic ports
against 8, 1856, 464 last year. Corn exports
were only lis, 43S bushels against l,599, ISL
last year, and receipts 1852, S43 against
2.532, $40, but it GEMS undeniable that the
crop has sustained considerable injury. Cot
ton declined an eighth with commercial esti-
mates of a yield exceeding $500, 600 bales.
After tariff uncertainties have vanished,
it viii be recognized that purchases and or
| ders for the coming yealSwitl depend largely
upon the crops. But at present the prospect
OF a DECISION in Congress, and the common
impression that the pending bill may fall
between the two Houses, has stimulated some
activity in textiles. Sales of wool were
S,522, 600 los, against 3,T42, 050 last year, and
| {, 336, 100 the year before, and for five weeks
| ending with July were SO, 1852 251bs., against,
IA, 436,950 last yesr, and 3S,5S6, 80 in 1882.
1t seems that a large part of the sales this
week were to fill orders actually booked, and
the rash of beiated clothiers and dealers to get
| goods for the fall trade gives most mannfac-
1ulers more than they can do for a month or
two, though there seems to be no demand
whatever for spring goods, and manufac-
tuPers are making no effort to get orders.
~ COL has been advanced for many kinds 1
no.H+ onI +lA % tra1sarra a1a1@ half q OcT,f
| after the decline of ~ cents from May l.
The movements OF bleached cottous has
\ been checked by the restoration of prices, as
it was stimulated by the temporary reduc-
4 ton to the lowest point ON record, and the
print cloth manufactured at Fall River are
seriously considering a reduction of wages.
livestock there and at Providence being
1 l,ISo, 900 pieces, while the lowest price ever
known, 2 9-I6ths cents for 64s, has been made
at Providence. As a strike would help the
price of the large stock on hand, one is not
improbable. =
Recovery in iron manufacture is hindered
| by greater trouble in the.coke region, where
many of the new co1ored hands have quit
and gone back to the South, and the strikers
have decided to continue the struggle. Some
what better business appears in Philadel-
phia. but the market here is dull, there IS no
/ IMPROVEMENT in quantities of manufactured
forms required at ,Plttsburg OF the West,
and in general the demand for finished pro-
ducts is Disappointing. Prices remain
nearly unchanged, though with numerous
small contracts for structural work beams
are a shade stronger, while Bessemer iron,
baf iron and wire nails are a shade weaker.
The demand crowds lft works producing
low priced shoes, while manufacturers OF
better grades are left dependent upon slen,
der daily orders to keep their shops In opera
ton. Shipments from Boston for the week
are IS per cent. larger than last year, and
for July IL per cent, but a decrease COM
pared with 1892 of II per cent.
Gold exports this week are about So, 100, 900
and the Treasury gold reserve is reduced TO
about S52, GOO, 900. The ohtgo is in paststo
settle.for unusually heavy imports of sugar,
and iii part to pay large railroad and other
loans made a year g in time of especial
stress. The main fact is that exports of
domestic products in July were nearly 70
per cent. less than last year, while the inn
ports. though much diminished for the time
by tariff Uncertainties, are but u per cent,
less than last year. There is every ~reason.to
expect heavier imports soon, while the
markets do not give promise of a strong
foreign demand for the great exportable
staples. Money is o coming into New
York banks, though in small amounts, and
the customary heavy demand from the
West has not yet appeared, thoughthe wheat
movement is heavy. Commercial loans are
decidedly increasing, though not enough as
vet to terminate the extraordinary ease Of
the money market.
The volume of domestic business reflected
Uy exchanges through clearing houses is