The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-11-02

quotations are known to be resales OF pur'-
chases on speculation. The weakness which
affects leather n hides is competltion,
which checks purchases of shoes, buyers per-
ferring to wait. Eastern advices are tnay
dizziness characterizes the shoe industry, ana
many factories are idle. Business in Wool
has fallen off one-half, manufacturers hav-
ing filled immediate requirements and pre-
ferrlng to wait until the goods market starts
up before buying further. Wooden machln-
cry continues only partly employed, with q
less favorable outlook than hoped for. The
price of wool abroad is weaker. Recent
weather conditions have helped retailers OF
cotton goods, which have remained firm in
price, Notwithstanding the break in quota
tions for raw material. Demand for win
dow glass continues brisk, as does that for
coal.
Bank clearings in the United States this
week amount to 81, 082, 100000, which is a
falling off of nearly 6 per cent. as compared
with last week, thus corroborating Brad
streets previous analyses of the general
trade situation. The total this week is, how
ever, II per cent. larger than in the week
one year ago, only 3 per cent. larger than IN
the like week of 1893, and nearly % per cent.
smaller than in the last week OF October,
1892, when the aggregate clearings were ex-
ceptionally heavy.
Prices Of staples this week, on the whole,
have been steady. Raw cotton and wheat
have advanced. as we'll as anthracite coal,
while naval stores, leaf tobacco, lumber,
rails: steel billets. Bessemer pig iron, several
varieties of cotton goods and wool, although
the latter is weaker, are unchanged. The
reaction in leather prices is based on compe-
tition between large interests. Lower prices
for wheat appear due to continued neglect
of supplies here by foreign buyers, together
with heavy weekly receipts. The extra
ordinarily large crop of Indian corn is be-
hfxa1 fla IrD,n ", ,l,-in ~, that nay.aa &c wall
as the lower price of lard A smaller quota
ton for sugar calls for no comment.
From R. G. Dun & Co.'s Weekly Re-
view.)
The rapid recovery in cotton and the rise
in sterling exchange to the point at which
the last exports of gold were made, W. not
increased confidence. Whether cotton is
kept back by planters, as many reason, or
by SPECTATORS, makes no practical differ
ence if merchandise imports, for the past
four weeks at New York 81 per cent, or
SO 200, 900 larger b last year, SO far ex-
coed merchandise exports. for the past four
weeks at New York 1912 per cent, or 49,
500. 900 larger than last year, as to cause
shipments of gold. Stock and other specu-
lative markets have been affected: selling on
foreign account and a break in "Philadel-
phia Kaffirs," as some call the industrials of
that city, nave helped to depress railroad
stocks here about 80 cents per share, and
Trust stocks S1.22 per share. There is a lit
tie better demand for most manufactured
products, retail distribution is fairly encour-
aging, and tine closing of man works is less
significant at this season than it might be at
others. 1t is a time of waiting, and uncer-
tainty may naturally continue for some
weeks.
the Financial Chronicle and Ellison, estinat-
ing the yield at I, 1000, 900, and Neill at 6, $780,
900 bales, differ not widely. Either yield
would much exceed the worlds consumption,
with the three million bales of American car
ried over. But speculation turns for the
moment on the disposition OF holders to keep
back their cotton, which may compel higher
prices. some say. however large the ultimate
supply may be. Receipts are at present very
small compared with last years, and it is
stated that banks here have more money
loaned on cotton, to enable holders to keep
it without marketing, than ever before. Ex
ports and takings OF spinners are small, and
stocks abroad and here so large that consam-
ers may be better able to wait than borrow
ers from banks. The tendency to realize on
a moderate advance was shown on Thurs
day, though spot prices remain strong.
Heavy wheat and corn movement help
railroads, but the earnings thus far reported
for October, 5.3 per cent. larger than last
year, the third week showing less gain than
the Outlets, are of pei Ccut oludliSA bHau III
1892. East bound shipments from Chicago.
including grain and provisions, were in four
weeks of October 3s6, $40 tons against 190, 45S
last year and 29l, 95S in 1892, whence it
would appear that the other freight move
ment must have decreased. Sales of stocks
on foreign account would have had little I'M
fuence, though about $4,000 shares, had not
reports about Reading reorganization aus d
a sharp break at Philadelphia, followed by a
remarkable decline in industrial stocks there.
The railroad presidents who assembled to
sign the new compact about freight competi-
tion had to postpone the matter, which dis
appointed some.
Failures in October thus far reported
show liabilities of 81, 120.4SS against
S. 06, S92 last year and $1S,9 95, 494 in
1888. Manufacturing were S., 426, $50 against
SO, 149, 455 last year, and trading were S.
624. O29 against s. 1891 ,434 last year. Failures
for the week have been 27S in the United
States, against 249 last year, and 50 in Can
ada, against so last year.