The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-11-21
THE BUSINESS OUTLOOK.


From r.. q. Dun & cos weekly Review"
The gain in volume of business continues
entirely without precedent. More than 800
establishments have started work, since the
election, which were idle. and at least 300
have increased working force, making 6so
concerns which are known to have added
largely to the number of hands at work, and
these are only part of the whole number.
Every day thus adds thousands to the NUM-
Der of those who are able to buy a week
supplies, and to make up gradually for many
months Of enforced economy. Already this
brings great increase in the volume Of BUSH
ness, and the Clearing House exchanges, for
the first time in several years, not only ex-
coed those of last year by 10 per cent, but
also exceed those Of the same week In 1892
by 9 per cent. Business men are all anxious
to prevent anything like the fictitious excite
ment of last summer, and in nearly all
branches an excessive rise in prices is pre-
vented. But with more hands at work, there
Is inevitably a greater demand for supplies,
materials and products.
The speculative markets have been re-
acting. which is also natural. Wheat had
risen with wonderful rapidity. so that ex-
ports had been checked by the higher prices,
and realizing started a break which made
the close 81 lower for the week. 1t appears
that Pacific exports of wheat, -four included,
were nearly 5000, 900 bushels larger, July l
to November /, than last year, and all other
exports about Is. 800. 600 bushels larger, or
more than so per cert. and in November At
fantic exports have been 4.494, los bushels, -four
included, against 1873, 745 last year. The de-
mand for freight room, both here and on the
Pacific coast, is still so large as to disclose an
extraordinary foreign demand. Western re-
ceipts for the month thus far have been only
IA, 1856, 8SS bushels, against %, 39S, 81 last year,
but the visible stocks continue to increase.
although the milling returns slightly exceed
those of the last or any previous year.
Cotton. has declined from s to 1852 cents.
in spite Of the starting of many cotton mills,
and the controlling fact for the moment is
that reports Of a yield smaller than 5000, 900
bales are now entirely discredited. The guam
tity coming into sight has exceeded last
years by 10000 bales, and it is not expected
that the decrease in the remaining months
of the year will bring the aggregate below
$500, 600. The export demand does not abate,
although temporarily checked while prices
were above 8 cents. and the increase of
SO, 400, 900 in value Of cotton exported in De-
tober contributed more than any other single
item to make the aggregate exceed that of
the same month in any previous year.
In 1891, when all Europe was ~erambiin for
American wheat, the value of all exports was
in one month, December, about 81. 600, 900
larger than last month, but In no other month
has that record ever been exceeded, and 1t
is noteworthy, with the increase above named
in cotton, and increase Of 81, 900 in bread
stuffs, and 81, coo in provisions and oil,
there was still an increase of IS, 400, 600 in mis-
cellaneous products. In November thus far
the gain in New York exports has been 2t
per cent. and for the last week 40 per cent.
the latest week having been the largest on
record since the second week Of October, 1890,
while. imports were II per cent. smaller than
last year for the week. and Is per cent.
smaller for the month thus far. Under speh
circumstances, in spite of heavy payments
on loans abroad, the movement of gold this
way would undoubtedly be resumed If foreign
buying of American securities should set in.
The course of securities has been disappoint-
ing for the moment because Of continued
realizing by American and foreign holders.
and because multitudes refuse to see that
the reported earnings refer to ancient history.
In November thus Ear the earnings have been
1870 per cent. smaller than last year. and a.
per cent. smaller than in 1892. but the de-
crease was but &c in the second week Of the
month, and the east bound tonnage from
Chicago in two weeks of November has been
l4s, 15s against IA. $50 last year. and 123. 4ss
serve, and the excess of receipts Of money
tone in 1892 The money market has caused
no disturbance, and rates have tended steadily
lower. The Treasury has been gaining in re-
serve, and the excess of receipts of rnraav
over shipments to the interior has been about
1900, 900. For the time money returns to this
centre as rapidly as IT went out in the DAYS
OF apprehension and boarding.
Failures for the month thus far have been
81. 725.47S. against Sc, 143,S sos last year. q. COZ sas
in 1894 and $1,zfs, 30 in 1898. Manufacturinr
have been s1.Sao. 2s2 against &, asa, so4 last year.
and trading have been ~. GA, 2s against 81. 067.-
0f last year. Failures for the week have
been sH in the United States, against 800 Iast
year. and 40 in Canada, against ~ last year.
Trom 'Bradstreet's State Of Trade
Jobbers aud other wholesale dealers in gen.
eneral merchandise do not report the anffei-
Increases in the volume Of goods distrib-
uted this week. The mild weather had an
influence, but the sharp drop In
the temperature inclnes to stimulate the de-
1mand for seasonable fabrics. There are in
creased purchases Of holiday goods, and the
tone Of the market for staples is one Of en-
has been for dry goods, shoes and groceries,
but even in these lines, particularly dry goods,
the volume has been smaller than expected
and disappointment Is a result. There has
been no decrease IN ffe .iabbfng trade In faos