The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1895-06-15
THE BUSINESS OUTLOOK.


DSual IrOStS OF the close OF May has
begun to register itself in relatively fewer
upward spurts of prices for staples and
moderately smaller totals of bank clear
lowed the frost frightened foreigners but
of Wall street for the moment. and SINCE
tine e she speenliat bons esch havge p ana i busy
trying to determine future values on the
basis of present conditions, The excep-
able exhibition of strength by iron and
steel. Cotton, leather, wheat, railway
q an Season. esnef Of sa aeaive dem name s ana a%edvaneing
prices, but none Of them. has outdone
iron and steel. WHICH. without special
consumers. have, again advanced all along
the line. The industry is undoubtedly
n Bank Is', elearlnss this Week dropped, to
81 .oos, GOO, GOO. a falling off Il per cent. but
n Is sti me e per GENT GENT larger issg th than ta IS seer eer
cent. less than in that in the PANIC year,
and u per cent smaller than the like to-
tai in wl lsss. se Adya nrssti IN prices sans en staples 4o 3
few. varieties of cotton goods with agents
to Bessemer pig, iron other varieties Of
the prediction of an early jump of S2
per ton for steel rails. No change and
generally firm quotations are
fonr, coal lumber, and live hogs and
cattle. Outsiders have, speculated in wool
and prices are frmer. Sales at Boston,
New. York and Chicago since January
/ are 80 per cent. heavier this year than
for wheat 1@e.: corn 11.c., oats We. lard
&c.. and pork ESQ., If the interpretations
Ct q the late govsrnmen w roa III bbSigo a,5o ina, mar
of only 49o,Q 0o, goo, prove true. the outlook
is more buihsh than expected. But the
government report appears to be based
on the one a year ago, which was notori-
ously an understatement.
The New York stock market showed
renewed bullish tendencies on the gov
| eminent crop report on wheat and the
favorable corn outlook. Advances IN
iron and steel also stimulate speculation
professional manipulation, however, fur
nish the activity and public interest in
stocks: London seems to be aIe i 6 .n ny
holds aloof, Industrial shares are a fea.
ture. Bonds are active and higher. ~
the end S Of the week Ror rsislizin sgx saies arrest IS
| Strong at 4.SsAa4Ssls for demand sterl-
ing. Bond syndicate, howeyes. sells
ep RaiIroa oills ea to pgsvff or S Nay e reileet the
Improvement in general business. n
strlking;ly confirm our early reports Of
Us companies, with 50, sol miles Of lines.
are s38, 0S2, 257, an increase over. May,
1884. of SIS per cent. The Gain in April
Continuous Improvement is Indicated.
Heaviest gains for May. are shown by
the soft coal and central, western roads,
the great coal strike. The only decreases
! noted are in the granger and eastern
road groups. Earnings Of 12S roads for
Of IS per cent. over last year, a period
which showed a decrease of 142 per
cent. from the year before.
From r. g.. Dun & co's"weekly Review"
It is no longer a question whether
| nave our reports from all parts of the
| country been so uniformly favorable.
| The daily average of bank ~clearings in
June is e2E8 per cent. larger than last
year, though ia per cent. less than in
been the receipt Of more favorable ad-
vices regarding growing crops. Even Of
fetal statements helped, because alto
n nssnsr LABOR lafs s trouble are geett.ns cut Of
the way, wages in many establishments
are rising, and with the iron industry
provement in Manufactures. Monetary
conditions also help. The time draws
near when. with good crops, exports
eign operations in stocks and bonds have
been Insignificant this week, the effect
of previous transactions has not been
money from the. interior indicate better
employment in business, especially at
the West. and the volume Of CONNER
fair for this season even in a good year.
The government. crop reports We're SO
much less dismal than was expected
4 kldL lll0J Gan SfN w. thAAAS
a host of calamitous .rImors. The de-
eidedly cheering outlook for spring
wheat, which our own and other private
advices confirm. goes far to balance re-
ports of loss in winter wheat, regions.
and even these, in the light Of the de-
monstrated deficiency OF official re-
turns of acreage, were found lar more
encouraging than previous accounts.
Effects Of the rise in prices were seen
IN the ofieial report OF M Ma SSo exports.
from Atlantic. but an increase of 1000. :
900 bushels from Pacific ports. The price
declined 2k cts. with small trading. Corn
also declined about l ct. With better
reports Of growth. ).
The official statement Of 148 per cent.
d foSnda in IN view i0s'0 Of a reSised w goye qnleery
estimates for last year. to mean more
than 2o.ooo.ooo acres now growing. cot
greater over 100000 bales were pro-
duced in 1891. so that the report gave no
a ara so pl wouia be- Ul s well for erat the s0iI South
is clear. but the heavy present surplus
will cover a larger loss than seems prob
transactions have become insignificant,
though rainfall and temperature are
closely watched. Manufacturers abroad.
according to Ellison, have stocks 289, QUO
bales greater than a year ago, and com
merciai stocks of American in sight are
stii 1900. 20s bales.
Cotton mills are doing well for the
season, and numerous advances of an
eighth to a quarter in brown sheetings,
drills. bleached muslsns. denims and
ticks are still reported. The wool manu-
facture looks for speedy settlement eff
labor troubles. and finds a moderate de-
mand for low and medium heavy weight
goods, while some of the cheaper lines
of spring goods have been opened with
grades there IS stiil great uncertainty
Of June have been L. 561. 9e5 pounds
against $780, $50 in 1892, Of which 6,791. :
300 were foreign this year agaist 5.56S. 300
The output of pig iron June / was but
a tr.fe larger than May /, 49, 24 tons
against 1864 a month ago and ia. 029
two years ago. The advance in prices
continues, Bessemer pig reaching $l24G
and Grey forge $l0.65 at Pittsburg, and
changes In all iron products show an adj
vance Of 81 per cent this month and
February. For this conservative in
dustry the rise OF &c per cent. IN Bes-
semer iron seems large, but it compares
with IS per cent. In cotton, 50 per cent.
in wheat, 60 to 10 in leather, so per cent.
in refined oil, and over 100 per cent. in
hides. ALI these products were at the
lowest prices ever known. and remark
| able gains were to be expected when any
came. but with each, consumption has
yet to justify advances.
The anthracite coal trade does not
ported. and with palpable over-produc-
tion, bad faith being charged again. the
pr.ce has declined Is cents. The coke
producers about Connelsvihe have not
vet made open declaration of their new
compact. but contracts are being made