The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-03-23
THE BUSINESS OUTLOOK.
From Rradstreet,s Estate Of Trade.'

ed. but rot general. 1t is more conspicuous
at larger New England points-notabiy Boston
and Proyidsnce-at New York. Pittsburg. Gin
cinnati. Louisville and other centers along
the Ohio river valley to s.. Louis. and as iar
from Chicago, Milwaukee and st. Paul, the
first named announcing that smaller auanti-
the banks working steadily toward a 5 per
cent. basis, demand for loans continuing TO
improve. and reserves being lower than Tor
From other cities a better feeling Is re:
ported, based on the recently developed
strength in cotton. wheat and flour. The
widespread prevalence of the Inquiry whether
this upward movement is the beginning OF q
permanent recovery from the two years OF
| depression is of itself significant.
AS intimated last week. total bank clearings
throughout the United States during the past
last week and with the corresponding week
last year Of s and 10 per cent respectively;
week of March. 1888. one month prior to the
week is % per cent. and compared with
1892 this weeks decrease is II per cent.
The condition of the speculative stock mar
kets at New York and other cities Show
a decided reflection of the better feeling in
trade circles and the advances already record
ed in prices for commodities. The situation
lends force to the belief in q further, though
| probably gradual Improvement. Pubic par
ticipation has increased. and outside purchases
Of stocks and low priced bonds supplement
the buying TO cover short contracts. ln-
creased interest is shown in American securi-
ties in the European markets. although the
intense speculation in South Africa mining
shares at London distracts attention., and
seams likely In itself TO lead up to a local
crash. The efforts to bring about a harmon
ization of anthracite coal interests had a good
effect, though the necessary delay in consid-
ering the complicated questions involved IN
duces temporary reaction in prices ana leeiiag.
The progress of the Distilling Company's re-
ceivers make that stock a feature OF specu-
lation. the frmer tone of the money mar
favorable indications. Foreign exchange Is
steady at 4.s9 q $50 IA. but the syndicate is
While among important price movements
there are reactions for wheat. oats ana lard
from the advances of last week, this was TO
be expected as the outcome OF a sehing move
ment to take profits, emphasized by favoraDie
crop reports from abroad and freer receipts.
Ouotations for anthracite coal have been de-
moraiized, and there is little hope for them
until those who make them desire to have
prices higher and steady. Eggs continue the
Western points are sc. lower. Jobbers of
gingfams have closed out their stocks in some
eases by ,en mor pflses declines in prices.
Wool remains unchanged, although the vol
ume of business is smaller because It Is De-
tween seasons with dress goods mills. and
Australian wcols are more popular. No changes
in quotations are noted for coffee, sugar or
naval stores. On the other hand. cotton has
butter has scored another advance. On the
Pacific coast lumber is higher and ADVANCING,
and at central western markets leather Is up
lie. per pound and calfskjn &c. to Be-, per TOOL
Live cattle also have advanced, as has coke;
which. taken in connection with increased
wages paid iron and steel workers at Pitts
burg. indicates an advance for Bessemer pig
iron and biliets. Increased frmness is re-
ported in some varieties OF cotton goods
due to the advance in cotton. several varie-
ties having been marked up lie. by manu-
facturers.
from both coasts, equal 1883, $50 bushels this
week, or 100000 bushels more than last week,
more than 60, 900 bushels in excess or tne
o1antitv shipped abroad in the third week of
March, 1Ss. and more than 2oo. 900 bushels in
excess of the total in the Ike Week OF asss.
ing period of 1892 is about 400, 900 bushels, and
with 1891 more than soo,0 900 bushels. Thus, Tor
the first time in many months the weeks
exnarts of wheat and -four have been in ex-
cess of corresponding totals In four preceding
years.
rnited states, as reported to "Bradstreet's' is
22 this week, against 262 last week, l9i IN tms
week a year ago, 22 two years ago. ana ISL
in the like week of 1892.
Heavy coal shipments and improved demand
for iron and steel are reported from pittsDarg.
Rut less satisfactory returns are received from
Baltimore, Philadelphia and Buffalo. sales or
millinery and of shoes at the first named alone
being relatively active. At philadelphia gen
erai trade is dull. jobbers are doing little;
Pleasant weather at Buffalo has Improved
the feeling, but the volume OF trade Is uh-
changed. -
Erom r q. Dun & Cos Weekly Review.
Indications OF Improvement in business grow
more distinct. The most obtrusive OF them. the
speculative advance in cotton and in stocks,
is the least reliable. nor can either OF these
he said to reflect actual improvement in DUST
ness conditions. Railroad earnings are scarcely
better, and the speculations are largely pased
on expectation of more effective monopoiy IN
1 coal and some other products. London was
buying largely, but is as likely TO sell on
any rise. Cotton does not rise because there is
more demand for goods. but there is more
demand for goods because cotton is dearer.
More valuable indications are that the Voiume
of domestic trade gains a little, money Is IN
much better legitimate demand, and the io ore
e l.,ac q yyar!f gr1dtIa1lY increases n SCDl6
industries, and in others is restricted only by
strikes, which are presumably temporary. Inc
threatened strike of coke workers mas peer
avoided by an advance of IS per cent; IN
wages. and the strike in building trades here
has ended, the men returning to work
The rise, In cotton to 6.31 cts still seems &c
have scarcely any contact with the facts OF
t demand and supply, but had a very saostan-
tial basis, nevertheless, II. as some maintaln
more cotton had been sold in this country fol
future delivery than could be produced here
until another crop comes. American stocks
l were last Friday 1850 8 bales, agaihs.
/ .f54. 100 last year, with the general expectatior
that something over 100. 900 bales viii yet come
forward, while foreign stocks of American arr
600. GOO bales greater than at date after the e1ea'
g cron of 1891. Receipts continue large, and thu
movement has really no other basis than be
: lief that the next crop will be small.
Z The advance In the wages of coke workers
raises the cost of fuel for a large proportion
of the iron manufacturers, but as yet doe
not affect prices of iron or its pToduc,s. as M
l increase in demand appears Possibly IL II
@ h1ped that larger buying will soon be prompte'
Nv the idea that pig and all products will b.
t rendered more costly, though the large excess
of production and producing capacity stand
in the way. One sale of 10,00o tons steel rails
| enc cast pipe contract for, 5000 tons, a Drlog
and five building contracts aggregating nearE
e 5000 tons. are reported this week, but pig irol
is weak without change both at the East an
Z at Pittsburg, and no change of CONSEQUENCE
G is noted in the demand for finished products.
The rise in cotton has stimulated buying Q
s goods and given confidence to agents. Heav,
transactions ard some advances in price ap
y pear in Southern coarse goods, but not as we
+ in the finer. Strikes in textile mills grot
more numerous. especially in wooden mil
which have orders enough to run full time
operatives apparently assuming that these mus
be realizing profits, but margins are 50 scant
!, that advance In wages is for most WORKS I'm
u possible. While many orders are delayed b
Of cancellation, which appear to be justine
Y in some cases by inferior quality, but !
others not justified at all. Orders for fall ar
y at present small ard new business has pee
quiet. Sales of wool gradually decrease, an
for the week are smaller than last veal
" | 4t74. 900 lbs. against 4,S3S, 500. For three week
Of March sales indicate about 70 per cent. {
lt a full consumption.
i The volume Of business through clearin
houses gains a little, being 14.1 per cen
We larger than last year. for the week, but "
per cent. less than in 1893. Most of the II
u crease is at New York, and here and else
>. where partly due to active speculation. Bani
ers report a decided increase in commercii
Or paDer offered, and Western banks give ey
acnce of larger demand by reducing balance
1t here. Liabilities in failures for the first tw
=. weeks of March were. for the first time
Sc more than a year, larger than a year 6g
80 80 -ntce "a p2S IAN fpSt wear 81 672 n