The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1894-08-11
THE BUSINESS OUTLOOK.

individual opinions regarding the leglsla-
| tive outcome, and a vast amount OF busi-
ness has been Deferred because the
| decision was yet in the future. The &C
| cumulating demand which has Tstlmuiat-
| ed trading and manufacturing wIthin
the past week or two represents 10 a
| great extent needs which have been
postponed waiting for a settlement, pul
can be post poned no longer. IhuS potn
the rush of deferred business IN many
lines, and the scantiness of new orders
reaching into the future, reflect an I'M
natural state of things, which canno pc
ume of business is larger than the eX-
listing condition of uncertainty warrant,
it is in a sense but a shadow OF the
larger BUSINESS which should come with
a removal of uncertainty.
In such circumstances the present m
dications and conditions are of compare
lively little value, but the startling ad-
vance in corn discloses a general belief
that the injury to this most important
crop has been so great as to a1ect ma
terially the traffic OF rallroads, the ae1
the cost of meats for the coming year.
Unless the markets deceive and are en-
tirely deceived, the country mas 10 lace
like 500, 900, 600 bushels of corn, and TINS
loss consumers have to share througn
the advance of fourteen cents IN Two
weeks, and nine cents since Friday OF
last week. Neither official nor unof1claI
statements as yet preclude the nope
that the loss may prove less serious,
but at current prices 1,500 million bushels
would cost as much as 1000 million BUSH
els would have cost a fortnight ago.
What has risen 49, cents in the fortnight
ern receipts have been 5,223,l2s bushels
against 3,162, 694 last year. Atlantic ex-
ports are still about half as large as
a year ago, 1899, 4S5 bushels against
2.734. 7S4 last year. Pork products are a
little stronger, as is natural COTTON
has twice risen and again declined a
sixteenth with increasing prospects OF d
very large yield, closing without change
for the week.
Gold exports nave practically ceased for
a time, with the settlements for most OF
the 900 million pounds of sugar imported
within the past two months, and treas
ury officials are more hopeful counting
upon larger receipts on account OF WINS
kew. Low as the gold reserve IS, there
appears a slight gain, and with cessatlQn
OF gold exports the improvement Should
be considerable during the fall. Whetser
under old or new duties, imports ana
customs revenue will naturally be large
for some time after a decision on the
tariff question. There has appeared OF
late some demand for gold from many
interior banks, not in large amounts,
but in the aggregate enough TO indlcdle
some nervousness of feeling. The vol
ume of commercial loans is lnereasllg.
though moderately, but in manufacturing
paper less increase appears tnan Ihisne
have been expected. The outgo OF
money to moveSthe crops has hardly
nAue 1lSe1l ISllt olo III N2
of stocks during the week, in spite or
crop mi~sfortunes and the disclosures in
Atchison, igves some ground for hope
that Withdrawals of foreign capltal may
discontinue for the present.
The iron and steel manufacture re-
cords a great increase of nearly 5o:9Vo
production is lis, 1856 0 weekly, about
ii LOCO tons less than in April, but S,pU
tons more than a year ago, When the
prostration had nearly reached IT'S worst.
fI.l,o 3ooraaCa in unSnld stocks WAS only
6.137 tons for the month, hoWlng d con,
sumption in manufacture not quite equal
to the present output Prices sustain
this view, having changed only IN the
direction of and the dlsap-
pointing demand for finished products IS
still the main factor. Minor metals are
ON the whole weaker. The business IN
boots and shoes is strong and healtny,
though conspicuously confined to Medium
and low priced articles, u as 10 cent
shoes for mems and 90 to ~ cent TOT
women's wear, but shipments from Bos-
ton have been, in two weeks, $685. cases
against 122, S26 last year.
People cannot go naked, even II Con-
sress is slow. Demands for textile goods
Clearly represent exhaustion OF stocks
and continuing needs for consumption IN
the main, though there has sprung up
unite a speculative business on the pos
sible failure of tariff legislation. Lower
prices in some cotton goods nave en-
couraged larger operations, and the pro-
posed reduction of wages at Fall River
is now announced, as yet without clear
indication whether it is to be followed
bv a strike. Woollens for winter go as
before. and the opening of spring GOODS
discloses a decline of about l2R2 cents IN
the average from last years prices, put
the goods are not urged by makers nor
hungrily sought by buyers. The safes
Of wool would hav been larger, according
to reports from the different markets,
if there had been sufficient stock avail
able. but amounted to 1923, 400 lbs. at
the three Eastern markets, against 1920,
700 lbs. two years ago. Country holders
of wool do not at present appear to be
anxious to let somebody, else speculate
back supplies quite generally, aitnougn
receipts at Chicago We're 1850, 05l lbs. Tor
the week against 1,127,O99 for the same
The volume of domestic business
through clearing houses is AZ per cent.
smaller than a veal ago. ana 20 per
of railroads reported for July are 2o-7 per
cent. less thar last year, with a larger
decrease on Granger. other western,
failures for the five weeks ending Au.
ust /, showed liabilities of $11 IA, rs, of
which S .626.594 were of manufacturing
failures during the past week have been
OH in the United States against 1874 last
year and "a in Canada against % asst
year.
From, Bradstreet's Estate Of Trade"
Evidence continues to accumulate that
the earlier portion of July witnessed the
lowest point in the ebb of the commerce.
al tide, in the reaction after the moder-
ate revival in the spring. As reported
exclusively in "Bradstreet's" last week,
July bank clearings this year furnished
only thirteen cities with totals larger
than in June a year ago. The ciearings
total for six days ending with Thurs
day is STA, 600, 900, or IL per cent. larger
than in the week previous, but 3-6 per
cent. smaller han in the second week
| Of August Lass year, when bank clearings
totals became very small. The signifi-
! canoe of this is found in the fact that
| clearings totals this week at all points
(New York City excepted furnish an ag-
| gregate 10 per cent. larger than in the
, second week of August last year. Re-
norfs of gross arnings of 123 railroad
companies during July specially reported
TO 'sBradstreet's' point the same way
with an aggregate of $780, 1853, 000, a de-
| crease of 19 8 per cent. compared with
per cent. is as against a decrease of %
ner cent. in earnings of a similar number
| Of roads, for Jun. Groups most effected
by the strike make a better showing than
in June. while a marked Improvement is
| dispfayed by eastern and southern lines.
nh rpactical cessation of various Sc
we're industrial disturbances of the year
/ has emphasized the tendency to improve
ment reported by telegraph from leading
| manufacturing and commercial centres
| this week. A further indication of the
the tendency to Improvement is seen in
the weeks advance of so cents per ton
for steel billets, and in the fact that
| domestic wool markets today are more
in favor Of the seller than they have
| been for a year, and that wool is firm at
fhe 2 cents advance scored in the last
| few weeks. Refined is Mc. higher,
ppecfed with questions Of demand and
| supply. but prices of pig iron at ST.
| Louis are higher, and for cotton are 1-16