The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-02-24
REVIVAL OF BUSINESS
Works Resuming Operations in
All Parts of the Country
/, Bright Outlook.

NEW YORK, Feb. "a, 1894-A special from
Pittsburg says:-The business situation
frightened considerably this week, and the
next seven days will probably see greater
improvement. Tomorrow, for the first time
since last june the Carnegie Steel Works
at Homestead will work on Saturday. 1t
has been the custom ito close down Friday
evening. The company is receiving salts
factory orders. Nearly every department
was on double turn this week.
Two more shops were put ON at FACTORY
of the United States Glass Company to-
day The plant would be running In full II
the flint glass strike were settled.
The American Iron Works OF Jones q
Loughlin resumed in all departments today.
The works closed last July. revival is
reported in the iron trade among the South
Side mill owners.
The plant of the Oliver Iron and Steel
Company, which has been idle since June, is
about to resume with 500 men.
The United States Tin Plate and Sheet
Iron Company is increasing its capacity by
building additional thinning stacks.
The Westinghouse Company has just
awarded the contract for 100000 brick for
their new shop at Branton.
Fl. Sellers Mckee. the great glass manu-
facturer, is contracting for three twenty pot
tableware plant at Jeanette.
Four thousand two hundred and fifty tons
more coke were shipped out of the Conneu-
vile region last week than the, preceding
week, and before April it is expected that
fully two-thirds of the ovens in the region
will be producing coke.
STARTING IN ALABAMA.
A special from Birmingham, Ala, says
The industrial revival continues. The Clifton
Iron Company has just blown in its two big
furnaces after an idleness of two years. The
Birmingham rolling mill, which resumed
last week, yesterday added five hundred
more men to its force The Tennessee Coal,
converters, by which ordinary iron ore can
be converted into Bessemer ore for stee.
making is nearly complete Its success,
which is now assured, means the early erec-
ton of big steel mill Several large ship
ments of coal iron have just been made to
foreign ports.
Better Times Ahead.
CHICAGO, Feb. "a, 1894-A morning paper
devotes large amount of space to the pres
ent unprecedented condition of the wheat
market. 1t sums up the situation as fol-
After analyzing the influences that have
contributed to the tumble, and there are
any number of them, it would appear that
new level is about to be established Tor
wheat, beyond which it is not likely to rise
except by the boldest manipulation, and
then only for brief periods.
It is one of the peculiarities of the present
condition that no bear movement has been
required to keep wheat down. 1t has sunk
lower and lower without any of the influences
traders employ to force down prices, The
steady decline is explained in variety of
ways by different traders. What seems to
be plausible explanation is that when the
quotations fell to 65 cents, hundreds of
noneyed men took a whirl on the board,
confident that prices could not go lower.
As the tickers showed continued weakness,
the holdings secured by that class of buyers
were thrown on the market again and at
time when it was too weak to absorb the
stock
Board of Trade men are agreed that better
times are ahead and that the effect of these
low prices is by no means as disastrous as
might be supposed. They say the willy
farmer has not lost nearly SO heavily as
spectators, on whose hands the stocks
drained. A very large proportion of the
crop was marketed before the tumble and
big speculators therefore stood the heaviest
losses.