The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-07-13
THE BUSINESS OUTLOOK.

From Bradstreet's Estate of Trade"
Al the close of the second week In
July the condition of trade generally
remains practically l~nehangea, al
tivity at many points continues more
conspicuous than usual at the msdsura-
mer season. Prices generally continue
the cereals, hog products, coffee and
lead; while, as significant as anything
else. are the exceptionally, favorable out
look for trade in the fall. and the en-.
couraging promise for the wheat and
corn crops throughout the central west
ern, western and northwestern states.
II IS worth noting that almost all recent
cereal crop reports, except those which
have been called official, have been the
Bessemer pig iron IS higher again, $l4
being asked at Pittsburg, and $40 ex-
pected in the near future. Steel 1hilets
black sheets. hides and manufacture
goods very generally. Heavy receipts
of cattle and hogs, good crop reports;
VIII explain reactions in the m
ties referred to, while sugar, print
cloths and cotton nave re MA easin nam
in dry goods Is quiet. but prices are
steady, and dress woolens fir.ner on the
| higher price of raw wool.
Bank clearings throughout the country
this week present the largest total since
the period of panic in 1888, Sl,liu,ogo;V o,
4 IL per cent. IiOTe LldH 1881 WEN -N-H
the Fourth of July holiday. 80 per cent.
larger than in the second week OF July,
1884. and "A per cent. larger than in the
second week of July, 1898. This rec
ord is continued even when comparison
is made with the second week OF July;
1892, the gain this week as compared
with the one last mentioned being one
Exports of wheat taour included as
week, against ZOO, 900 bushels last week
2.3T7. 0o0 bushels in the second week of
July 1891, 4,ls4,oo bushels in that ! s We So
bushels in the corresponding week OF
June railway earnings show continued
any month within two years. Total earn
ings of 100 roads for June aggregate
sss. 400. 545: an increase over june a year
in June. 1891, from June, 1898. of % per
cent. For the first time this year tbs
as ompare with a year ago. Tor si1
months ending with June this year the
earnings of 122 roads with over 1e0 09c
miles of main l!ne) aggregate S23t.3S5,-
900. a gain over last year of rs per cent.
from 1893. Of ia per cent. The only
earnings of the southern roads. caused
by the coal miners strike on the Nor
folk & Western Railroad. Encouraging
features are increases, in the earnings of
the Pacific and southwestern groups.
Speculation in the stock market at
New York suffers from narrow .condi-
an excess of professionalism. The UNI
dertone is good, and the crop outlook.
with increasing railroad earnings creates
hul!i~h feelir~. This however. does no.
develop outside of foreign buying, and
traders check Improvement by constant
sales for short account the erowsh OF
sponsihle for most Of the hrving there
is. Chicago Gas d~eclired further to 5s%
% onnt til a unIe tie ba snnal thof the ao0 dividen I'd
viii be passed. The Industrial stocks
as a class were weak and disturbed the
At $50 for demand sterli-~. This Is Nsc.
to &c. above the pold shinpins roint. Ii
is. however. SO well understood that the
that the position 81 exchange no longer
oreates erviety. There arA o@f fai,r~9e,
in business in the United States this
7e9 in the second week of July. 1894, and
1898 in a like week in 1893.
From r G. Dun & Co.'s Weekly
Review"
A business food so strong and rapid
that the conservative fear 1t may 10
harm is out CT season In July. But the
each other. May frcsts and frigfss.
it is now evident, kept back much bust
ness that would naturally have been
finished before midsummer. and the de-
layed elimination of one season get In
the way of efforts to begin anothe on
time. But the volume of business, how
ever it may be measured. is remark
ably large for the month, even IN q good
years Clearing House exchanges for
than last year and s per cent. larger.
than in 1897. In that year July pay
l:lents were naturally Is per. cent. less
than in. May, but this year are consid-
erably larger than in May. The exag-
gerated fears about crops have passed,
the syndicate Is believed both able and
i ntnrrliflQ ord fn nYscforfr the Hrnocr1r md
the time draws near when the market
ing of new crops will turn international
balances If speculation does not hinder.
The week has been notable for a sem
s%ational fall in wheat of 5 cents In two
days, followed by recower of 8 cents,
though neither accords with any inter-
ernment report. It's estimate Of 400 mil
lion bushels mpar with. q like esti-
bushels out of the way: This year the
discrepancy is not believed to be so
large, and commercial estimates range
all the. way from 420 TO 500 million bush
els. The sudden drop in prices was the
result of speculative. rather h COM
mercial influences. though exports not
els. -four included, from Atlantic ports
for two weeks of July. against 4,22T, 9i5
last year, had their effect as well as
against 2,1aG,91s last year. The latest
news indicates an enormous crop OF
corn, MUCH the largest eyer grown e
4 W oN - < ~ tA- ~ L. OI1Y
3S cent lower thai a week ago. Cot
ton has not changed, though speculation
still turns wholly on prospects,, regard
less of enormous stocks carried over.
In Europe the manufacture lags, but
here is satisfactory.
Wool IS stin advancing with enormous
sales, 12,7f4,0 coo pounds for the week. and
In two weeks of July 2s, 4g7, 614 pounds
against 1855. $50 inthe same weeks of
1892. AS the sales are about four times
the weekly CONSUMPTION, 1t Is obvious
that the market is essentially specufa-
tive. bit the rise abroad has set the
country ablaze SO that western holders
are asking even higher prices than here
tofore. Scarcity OF domestic wool halps
them, and as yet the enormous sales
of foreign only compensate for the re-
ported decrease in the domestic clip.
But buying by most manufacturers Is
already affected. and at the prices now
asked for wool some manufacturers are
doubling Whether a corresponding value
for goods can be realized. Opening prices
FOR many light weight goods show great
~irregu1aritv, perhaps a majority being on
a par with last year. but some lower
and some higher. There is more bust
ness this week, with prospects of
further increase, though much is said OF
the prices At which FOREIGN goods are
heavily sold. and undervaluation is al
Tered. Labor controversies IN wooden
mills have generally resulted against the
workers. although some. advances in
waEes have been obtained. but 2 strike
OF carpet weavers at Philadelphia all
ready affects several thousand. and
threatens to include as many more, an
advance of TX per cent. being demanded;