The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-10-20
THE BUSINESS OUTLOOK.

/ w bsifi Z IlH6S ShOuN liz SOoAN
try, will require considerable expansion
to- compare favorably with corresponding
totals two years ago. The volume o.
~clearings for six busine days ending
with October Is is $9i9, 100000, or 2.3 pei
cent. more than in the preceding. week
and rs per cent. larger than in the
third week of October last year, but
nearly 81 per cent. smaller than in the
corresponding week in 1892.
This relatively favorable bank clearings
report is offset in part by a decline IL
prices of staples, coffee alone scoring a
slight advance. AT Louisville tobacco Is
easier under promise of a large crop,
n hides are lower in price at some
of the more important markets, Whlie
leather is quoted lower at western cities.
Competition of northern lumber maufac-
turers have forced down prices at chi
cago, and all except best grades of live
cattle at Omaha and Kansas City have
sold for less than a week ago, while
wheat and indian corn AVE also shown
declines. The production of iron and
of Bessemer steel continues as heavy
as heretofore, and quotations have been
| further shaded. Lard is lower in price,
and the prospec for cessation of tex
tile labor difficulties at the cas- has
weakened the print cloth market. AS
serious as any other decrease is that in
| cotton, the feature of trade south this
week being a check to purchases by in
terror merchants for spring delivery and
| slower mercantile collections, due to low
Ell prices for cotton.
Exports of wheat Qiour included as
wheat), both coasts of the United States
and Canada, this week amount to 1892, 900
bushels, against 3,317.0 900 bushels last
week. 2.709,0 900 bushels in the third week
of October a year ago, $4,000 bushels
two years ago and $780, 900 bushels in
the week three years ago.
The strength of foreign exchange and
gold engagements for the week, aggre-
eating 1000, 600, have disturbed the spec
ulative stock market and checked activ-
ity. Current decreases in railroad earn
iEgs are ascribed to the effect of the
heavy Worlds Fair passenger traffic a
year ago. A small reduction in the Balti-
more & Ohio dividend is not considered
Indicative of trunk line traffic conditions
at this time. Bonds are strong. and any
demand for prime securities causes an
advance. The foreign exchange market
is narrow, both as to supply n de-
mand. Sight sterling is 4.S71a.
There have been 25S business failures
in the United States within a week. as
compared with 23S last week. In the
third week of October one year ago
the total was $40. two years ago it was
PIG, and three years ago it was 23o.
From R. G. u & Co.'s Weekly Review.
Cotton below 6 cents and wheat be-
low IS cents, each lower than ever since
present classifications were known, with
exports of gold instead of products at
such prices in October, are the salient
features in business this week. Distri-
button of goods to consumers goes on
fairly, with gains at nearly all points
in comparison with last year, but not
yet at a rate to sustain the present vol
ume of manufacturing production, so
thai prices weaken a little. The domestic
trade represented by railroad earnings
in October is 3.4 per GER less than last
year, and 1874 per cent. greater than IN
1892. The payments through the principal
clearing houses for the third week of
last year, but BIB per cent. less thar in
1892. With many features of ~coura
ment, business has not yet answered
expectations, and it is evident that the
unnaturally low prices of other great
staples, affect the buying power OF mil
lions.
Wheat for October delivery fell to
JAP cts. on Wednesday, and in spite
of some recovery the average for Octo-
Der thus far is 2 cts. below the lowest
monthly average ever made, winch was
in September and was nearly 10 cts. be-
October average being so cts. below that
of October 1891 or 1890. Western receipts
are only 1905 91 bushels for the week,
against 6,064 1913 last year, and Atlantic
exports 631 ,0S4 bushels, against S93,345
last year, but the controlling fact is
that no demand as yet promises to
clear away the enormous surplus. Corn,
declined half a cent during the week,
with receipts not a quarter of last
years, and exports not a tenth. Pork
products were somewhat weaker, with
lard a quarter lower. Cotton sold at
sons estimate that the world will con-
sumo S,24S, 900 bales American, the stock
of two million bales in sight and the.
estimated yield of over nine million
bales, deter buyers.
Domestic exports from this city in
two weeks of October were IS per cent.
less in value than last year, while the
increase in value of imports has been q
per cent. Much of the decrease in ex-
ports is in price, but in August and
September the quantity of wheat de-
creased over a third. Provisions n
cotton gained, but oil decreased, and in
minor products exports in September de-
clined 16 per cent. The increase in im-
per cent. in September, and in W
weeks of October at New York over ~
per cent. With this heavy increase in
purchases, and a decrease IN sales OF
Exchange is in position to be quickly
affected by Withdrawals of capital or ap-
prehensions regarding the future peace
Of Europe. To half a million gold ship.
will be added today. 1t appears that
three Trust companies here now hold
over $40, 900, 900 idle money, and that
Eastern mill oans are being taken from
New York by New England banks,
while the Northwestern demand for
money is unusually small. The Treasury
and large imports yield a little less
revenue than last year., while internal
revenue for the past three weeks is
81, SOC, coo smaller than a year age.
Stocks have declined 81 cents per share
for railroads, and 20 cents per share for
Trusts. The decrease in earnings the
second week in October was ~ per
cent, partly because the Worlds Fair
rafic last year was exceptional, but
while the month shows some gain owe
last year in Southern and Pacific roads,
other sections show loss. There has been
especially in coal, but eastbound rail
shipments from Chicago are al little
smaller than last year.
The dry goods business and textile in
dustries were especially favored by the
demand in August ana September.
been replenished, and business waits for
retail sales, which are as yet slower
than was expected. In cotton goods
the new business has been narrow, and
resumption by Fall River mills has de-
pressed prices to some extent. Woolens
auction sale of a fifth of the years
production by the Arlington mills, which
brought prices about Is per cent. be-
low those previously quoted, while soft
wool dress goods are 8 to 5 per cent.
lower thar last year. In mems spring
goods there are few small orders, n
while fall orders for suitings continue
good, the demand for cloakings have
been reduced by the strike of cloak
makers. Sales of wool have. for three
weeks of October been 15,147, 499s lbs.
against 1914, 452 last year, and 10, 1861 900
in 1892, with markets dull and prices
barely maintained.
The boot and shoe trade is doing re.
markably well. Ehe iron and steel
business makes a better showing this
week, Bessemer pig having stiffened to
5000 It Pittsburg, and at Chicago ana