The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-08-08

| result. Europe was alS0 Il9NtU 10 SER
American stocks rather freely. 50 that
road stocks fell about s2.18 per share and
the average of Trust stocks about $1-SS-
The instant cooperation Of moneved in
terests at Chicago to restrict the dis
turbance deserved praise and did much
shock to public confidence. and a quick
tightening OF Eastern money markets
which already. shuts off comanercial loans
almost entirely The collapse also in
creased the caution of bankers and other
enders regarding loans on securieties of
q svs slInii aI,r,r character rae yrsas o 9hTs u, dnaneral
ant. The syndicate continued to control
foreign exchange with ease, and a de-
icit of nearly S8.De9, coo in Government
revenue for tine first part of the month
excstes no alarm
IT is Important that the increase of
merchandise exports, ss9e,ooo or u per
cent. over last year for the week. and
the decrease of imports, 100000 or IT per
cent. still continues to limit the sum
! crease Of exports has been 81. SEQ 900 or
is per cent, and the decrease of imports
50, 2ee,Go0 or Is per cent, which helps to
ment Of wheat is again large Atlantic
exports being I761 ,q33 bushels for the
week week 5 f1spr .i lnelud 51lv sga, ssR 81 S2-a 59s5 laIs
against 472s,9 $40 last year. Conflicting crop
reports are as numerous and noisy as
Ter wheat to 100000. e8e bushels. and the
movement tends to sustain such estimates.
! for sEnep July / Western receipts have
been 1888 ss bushels against $3.50. eso
last wear. II is not easy to believe that
with prices ten cents lower that a year
ago. farmers have marketed from a small
also mov ~ ranidiv with western receipts
of 4.S73,091 bushels against 1-esl.0A last
year
The situation as to cotton is doubtless
critical for mary producers. Extremely
hot and dry weather has done serious
harm. but IT must indeed be an extnaor-
binary condition tflaf rs3uoes the yield 30
per cent. in august. Men of mach kno1xl-
eHge and expeFieuce hut a few DAYS ago
judged ? yiela of 5G.Nae. 600 bales probable.
and If they were 1895. 400 too high. still
those who now predict emily Lse0e- 600 bales
gre likely to err in the Opposite direction
With large acreage ii is always safe To
remember that only a part of the crop is
ever afTecfAd by rnisfortunes between Al
beyond precedent. AZ on "Wednesday alone.
and the alarm will at least be of service
to planters in giving them better prices.
whether buyers realize profits CIR mot.
Labor is mere disturbed than usual. The
great strike of garn1ent workers here has
much extended; the strike At Cleveland
has broken out again and involves several
other ~braneb@s of labor the IRON furnace
men of the Shepango Valley resist a re-
Guction tn the wages of May, 1895, though
Mahoning Valley workers do not, the
iron works throughout the country are
striving to cut down cost in order TO keep
in operation; the iron mines of the Go-
hegie range are stopping; the suspension.
of Gotten mills has become more general.
and over feur million sDindles are said
to be idle At Fall River alone. and prob
ably th~ree-eighthS or more of the entire
producing capacity in the country; the
rubber works have mostly stopped. and
notwithstanding the light weightopening.
a number Of wooden mills. Evidently the
working force and also wages have been
reduced.
The iron markets grow less demeralized
"a, 4n,n f.naa71cn all f1a aCraCfafsAne H.
cided o tmaintain prices for this month.
but the markets are not stronger in
volume or purchases. Pressure to sell.
even at concessions, is the prevailing
rule, and prices are almost nominal.
Contracts have been given for Brooklyn
plates and Fifth avenue pipe. each about
may delay execution of either. Otherwise
the demand is not better than a week
ago. Minor metals are generally weak.
but prices of coke and coal are held with.
out variation.
The volume of domestic b1fsines re-
fected by exchanges was ~ Der cent.
srnalled han last year for the first week
of August, and 9.3 per cent. smaller than
in 1892. The early crop movement and the
speculative collapse at Chicago caused
both commercial n speculative loans
here to be much restricted. Failures in
July, classified bv branches of business.
show larger liabilities in the lumber than
in any other manufacturing class. and for
seven months double the liabilities in the
next largest class. while in trading the
dry goods liabilities lead The aggregate
in manufactures was S1.E6s.9 $40 for the
month. against So, $3.50 SIT last year and
4.Ss7. e39 in 1894. and in trading Sc. 900. 1885,.
against se.1o4.5ss last year and s4.s57,2 l7
24e in the United States, against 225 last
year, and % in Canada, against As last
year.
From Bradstreet's State of Trade"
In nearly all lines trade is unchanged.
in some departments l~ifeless- South and
tho 1No+A ho- hol ~ ~
favorable influence, but merchants in all
directions continue to buy for needs only.
While 1T is too early for fan trade to
clothing and shoes at Chicago has inn
proyed somewhat. although less active
than one year ago At several ,eenters
freely as heretofore. Merchants not
wishing to be refused have accordingly
curtailsd their requests for aceoannoda-
tion. Mercantile collections are slow, in
some instances more difficult to make.
Renewed scrutiny of credits has had
an effect in restricting the same. Iron
dldl. Makers of pig are pilirfg stock.
Large lots could be obtained at conces-
agreed to curtai production 50 per cent.
during August, and owing to aek of
demand western packing-house employees
h msnf been fD w sasG on and l'n some s PSi! lmpToSs1
mills have shut down. Portland advices
are that mo considerable movement of
oregon WUO4 WAt tdhe phdGe uiitH diutf
election. Cottoss goods remain un-
changed. Notwithstanding the higher price
for cotton. THE relative activity among
makers of boots and shoes is because
of orders on hand rather than new bust
ness.
Stock values In the New York market
have broken on liquidation and bearish
pressure, with an utter hack of buying |
support. Besides the uncertainty of the \
political outlook and the slaekness of
trade there have been several depressing
factors. including the breakdown of a
local speculative imitation at Chicago, \
the appearance of pressure in the mons |
market, and talk of damage to railroad
earnings. London Us hess bulfisal in regard
IN American securities. bit bought in
the extreme breaks here. The success
of the bankers efforts to restore the
Treasury gold reserve rs disregarded. as
ers in preventing gold exports. Demand
saersng is held firmly at 4.S9 by the syn
fieate.
A4tile8ga reaeeting midsummer du1l- |
TeAs. July hank csearings are larger than
Those fer June. and, in fact. larger than
for ANY month since january, 1896, al
though "A per cert smaller fEFan Fully
q year ago. Compared with July, 1884,
there Il a gain this year Of "a DER cent,
etsSrfrsgs for JNlv aggregate S4.faf7. 519. s45,
aEzt1Et s42s5, coo 900 j June. Only one
taaira OF the cities show gains over 2
year sGe. Heaviest decreases are out
side Of New York cStv. Most NUMEROUS /
gaipS are in the northwest. THE small 4
ezt increase g in tAe @es5h. For seven
r~portils total c~leyarinFs aggregate 500. ss9.
tenths Of I per cent. and over 1894 of
16f per cent h1t a falling off xf II noe