The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-12-22
THE BUSINESS OUTLOOK.

The volume of general trade continues
small, as expected from evidences OF
| shrinkage within the month. Unusually
mild, unreasonable weather continues
to check distribution of coal, heavy
| clothing, shoes and rubber goods north,
| west, south and throughout the cenlrai
| west and eastern States, although at
larger cities the favorable reports as
to holiday goods and specialties al re-
of bright, mild weather. The year 1854
naturally brings low quotations Tor stas
| pies and securities, a characterlstlc OF
years following those marked by panlcs:
| Lowest prices on record are or recently
have been made for iron ana steer,
| wheat and Indian corn, and cotton ana
wool. Improvement in prices Is RECORDED
in only a few leading lines, wheat, cop
per and lower grades of shoes, which
have long sold at depressed nSuinS.
There are nine important staples with
prices STEADY or firm, leather, hides
and lumber, lard, live hogs and coffee,
/! naval stores and cotton and pig lToh' at
Chicago. When one considers the list
of staples for which the weeks quota,
| tions are lower, it lis found nearly equal
to those in which advances and steadl-
ness in price are given. Cotton. goods
| are weaker. and sales of moment are
nsade only at concessions. The auction
+, sale of cotton goods at New York re-
| suits favorably, Indicating the trade VIII
| stock up at a price. Business in woollens
after nua /, when new tariff pro-
visions go into effect. Prices at which
| woollen mills are willing to take or
ders discount the prospective change IN
the tariff, and it is declared American
mills will hold their share of the trade.
Sales of wool, too, are lower. Bessemer
pig iron breaks all records by dropping
to $3.50 per ton, $40 having previously
been the lowest. Steel billets are also
off, striking SIS fiat, a loss OF ABOUT loe.
Experts and others are regarding the
steel rail market to + see Wnet nert; Il Hes
have reacted somewhat after the re-
Feent nominal advance. and Indian Germ
and oats are off fractionally on incre1s-
ing stocks. Pork is a shade lower. ana
refined sugar likewise, and heavy re-
cespt OF cattle and sheep at western
markets tend to depress prices.
Jobbers and other wholesalers as a
rule report commercial travellers off the
road, ana that little is doing except TO
take account of stock. The outlook fcT
trade after the holidays is fair, although
larger Chicago dealers report stocks on
hand larger than expected, except among
jewelers., who have Unexpectedly enjoy
ed a heavy trade.
ed, the aggregate for six business lays
~{otIicial totals from Is cities for a com
plete week. amounting to LOIS, sas. 600,
compared with 81, 019, 100000 last week,
and as contrasted with 1911, 712, 900 in the
week a year ago. an increase of 81 per
cent. When comparison is made with
the corresponding week two years age,
one is confronted with the eXtraordl-
narily heavy aggregate, $1,511,0oo,0N0, ons
of the largest totals on record, which
shows a falling off this week Compared
of about one-third. The weekly clear
ings total for the third week in Decem-
Der, 1891, was s1,23s. 900 1000 more nearly
1or1nal than at the, close 81 the year
a falling eff this week compared with
three years ago of only 10 per cent.
The total number of failures in business
in he United States this week shows a
reaction from the recent heavy mortal
ity in commercial lines. with an aggre-
gate of only 300, compared with 1888 last
two years ago, and Sl3 in the third
week of December, 1891. There is a fall
ing off in the number of failures at the
west and in the middle States.
tober is nearly 3 per cent. more this
year than last, owing to the largely in
creased importations, 15.2 per cent, ex-
ports having fallen off 4S per cent. DC,
tober imports of chemicals, coffee, rub
Der iron and steel. raw silk and wool
increased, while those of sugar declined
heavily. Exports of breadstuffs, pro-
visions and oils decreased. while those
of cotton, tobacco, machinery and fruit
increased. For ten months the total
value of foreign trade was 81, 223, 241, 946,
1915 per cent. less than in 1893. Imports
fell off 1853 per cent. and exports AS
per cent.
From R. G. Dun & Cos Weekly Review.
But for the large exports of gold and
uncertainty about financial legislation,
the indications would be more ~encourag-
ing. Some increase is seen in orders
given to manufacturing works, though
until the year ends the force actuaiiy
at work naturally diminishes. The holi-
day trade has been rather poor at most
points, partly owing to mild weather.
There is distinctly more confidence shown
about the future demand for Industrial
products, though prices are not better.
Domestic exports increase a little, though
exportable staples are not better in
price. In November the excess of mer-
chandise exports over imports was $780,
SIS, S91, besides s., 1881, 091 silver, and De-
cember returns indicate as large an ex-
cess. For this very reason the exports,
of IS, 1872, OIL in gold since last Friday, and
the Withdrawals of about three times
as much gold from the Treasury, are
the more noticed. Money continues to
largement in the legitimate demand for
commercial loans. though some offerings
of paper, apparently to prepare for year
w settlements, have excited remark.
Prices of agricultural products do not
improve. Wheat is unchanged for the
week, although Western receipts have
fallen to 2,SO4,925 bushels against 2,5Si,-
061 for the same week last year, and it
does not count for much that the Atlan-
tic. exports were 6,645, against 74,54T
last year. The visible supply still grows,
and is now IS, 173,0 900 bushels. Corn fell
4 cents for the week, though Western
receipts were only 1,522,63 bushels,
against 1852, 204 last year, and Atlantic
exports more than a third smaller. Gov
rnmen m do not seem to affect
actual transactions. Cotton has declined
a sixteenth to 5.69 cents, and receipts
from plantations continue larger for De-
cember than in 1891. when the crop was
over 5000, 900 bales. The theory that pro-
ducers will not market at current prices
does not yet fit the facts.
The volume of domestic trade does not
gain except in comparison with last
year, when it was declining. Exchanges
for the week were 10 per cent. larger
than last year, but 33.1 per cent. less
than in 1892. The volume of railway
traffic westbound shows encouraging in
crease over last year, but eastbound
| tonnage is small, from Chicago by rail
50 per cent. less than last year, and
3S.5 per cent. less than in 1892, and earn
| ings thus far reported for December are
only 3.6 per cent. more than a year ago,
and. 1875 per cent. less han in 1892. Tive
| Of the Vanderbilt roads have this week
The stock market has been %stagnant
| rather han weak, sales being very light,
and mainly in the speculative indus
| trials, which are SO cents per share lower
for the week, while railroad shares are
50 cents per share lower. Uncertainty
| about the monetary future has affected
| trade some, but realizing by foreign
1 holders has also been important.
| The Withdrawals of gold from the
Treasury have been over S21, 900, 900 since
| December 8. and are attributed in part
to replacement of bank reserves which
were reduced by the purchase of bonds.
! Yet it is plain that the desire of for
| eisners to get gold instead of stocks,
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