The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-02-08
THE BUSINESS OUTLOOK.

from Bradstreet's State Of Trade.")
General trade waited the results of sub
scriptions to the bond issue, and the senti-
mental EFFECTS of the unexpectedly favorable
outcome have been for easier money and
Improvement. Additional favorable influences
are found in heavier bank clearings, con-
for iron and steel, and the announcement from
st. Paul, Milwaukee. Omaha and Des
Moines of q revival in business with jobbers
in staple lines. AT the east Baltimore and
Pittsburg report favorable trade conditions.
At the south gains in wholesale lines are
announced from Nashville, Memphis. Atlanta
depressing influences of stormy and wet
weather. indifference of consumers Of do
mestic wooden dress goods, renewed sales of
print cloths and other makes of cotton goods
only after a reaction in prices, continuance
of extreme conservatism in almost all IineS,
and the fact that the relief to the Treasury
by the heavy oyer-subscription to the bond
issue in the absence of sound currency legis-
lation by Congress, will probably prove only
a temporary device to maintain the gold re-
serve. General trade at Chicago, ST. Louis,
Buffalo and Philadelphia shows no real
gains from the preceding week, when the
situation was quiet even to .dullness, and the
outlook unsatisfactory.
Speculative interest in the stock market has
been evidently stimulated by the unexpected
degree Of success attending the government
bond subscription. Professional interests.
however, have realized profits on extensive
lines of stocks purchased at lower prices.
London has rot responded to the outcome
of the bond issue or the improvement in prices
here, and sold stocks, while traders have put
out short lines. The market has absorbed
these offerings, but their amount has held
it in check, and even caused slight recessions.
At the close OF the week, however. there is
a tendency to advance prices on the shorts,
and the successful bidders for bords are sup
posed to be supporting the general market.
The new government bonds are in request at
116h. There Is a short interest In them from
parties who sold expecting to receive allot-
ments. Foreign exchange was very weak,
but recovered on the comparatively small
amount of bonds bid for by foreign interests.
On Friday rates are a trifie lower at ASS
for demand sterling. Shipments of gold from
London in connection with the government
bond subscription continue. About So, 100, 0ao
gold was received this week, and 81, 900, 900
or more Is en- route.
Increased demand for copper and lead has
stimulated prices for those metals, and oats,
corn, wheat flour and wheat are higher, in
sympathy with the strength of the statistical
position Of the latter. .Bradstrees's s. re-
port Of the worlds wheat stocks, February. !.
shows q, 600, 900 bushels less than a year ago.
and "a, 090,00 bushels less than two years ago,
the total being as small as on April l, 1895,
promising nearly as small a total on July ]
as four years ago. and, with reduced sup
plies from the Argentine. Russia, India and
Australia, indicating a probability that wheat
importing countries will have to intrench
heavily on their reserves this year.
Cotton and coffee remain firm at practically
unchanged quotations, as do wool, lumber
and coal Iron and steel markets are en-
quarter of last years output having been
| ordered at this time for 1896 delivery. Eastern
rail mills are reported to have taken large
contracts for delivery in California and Chilli,
in competition with foreign mills. Receipts
of live stock at western centres are heavy
and prices are lower for sugar, lard and
petroleum.
January bank ~clearings reflect the decline
in the volume Of business during the past
three months, but are larger than the totals
for January one and two years ago. al
though o per cent. less than the January
total in 1893. The weeks total Of cleariags
is 81, 600, 900, 900, IL per cent. more than last
week. 2 per cent. larger than in the first
week of February. 1925, II per cent heavier
than in the corresponding week of 1895. but
81 per cent. less than in 1893, and "a per
cent. less than in the corresponding portion
of 1892.
Reports to srBradstreet's' Of suspensions
and failures of banks and other exclusively
financial institutions in the United States for
1895 and 1894 show that. with the exclusion
Of national banks and loan and trust conn
panies, remaining grouTs into which the
| exhibit is divided, show large increases in the
number of such embarrassments last year as
compared with the year before, which applies
to totals Of liabilities as wen. The total
number Of suspensions and failures referred
to was f49 in 1876. as compared with 98 the
| year before, liabilities amounting TO s23. 624,-
, 900 last year. and to SIS, OPS. 900 the year be-
fore,