The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-09-26
The BUSINESS OUTLOOK.

~ HdSttFI JtDDifS circles The IEGllQR Is
one, of Increased confidence. There is
more doing in some staple lines, noticeably
at the east and at a few southern cities.
IN most other instances purchases con-
tinGe for immediate wants only. There
IS little expectation of a general revival
in business prior to election. Throughout
the central and northwest no material
change is reported in general trade fea-
lures. Exceptions are at Cincinnati and
st. Louis, where demand for staples is
larger. Savannah and Augusta report a
marked increase in volume of business
both wholesale and retail, with satisfac-
tory collections. Memphis and Galveston
report moderate gains in demand and
sales. Improvement is shown in various
| commercial and industrial lines at New
York. Boston, Providence and Pittsburg.
improved demand for wool continues,
with an pward tendency in prices. De-
mand from England remains noticeable,
but is Offset by high rates of freight and
scarcity of ocean room. There is a better
| jobbtng movement in cotton goods. which
are higher. Not much more wooden ma
| chinery has been started. Sales Of wool
ems are generally of iow-cost variety. The
starting up of iron mills and furnaces is
conspicuous, but maker in some instances
seem to be anticipating demand. Stocks
OF pig iron have nearly doubled since
January /. while producing capacity has
been restricted more than one-third. The
better feeling in the iron and steel in
responding demand Exports of 10000
tons of steel rails, 5000 tons of pig iron.
! and smaller quantities of other forms of
those metals TINS year have been possible
only by reason of extreme depression of
cost prices of raw materials at a time
when foreign makers are endeavoring to
obtain higher prices. Some textile manu-
facturers in Philadelphia nave started up
and some have shut down. Providence
| manufacturers of textiles and jewelry
report a better demand, but makers of
cotton yarns continue to curtail output.
Easier rates for money at the east are
followed by a disposition on the part of
western banks to make loans, but at many
points money markets are characterized
by extreme stringency, notably at some
southern cities. Collections generally are
difficult TO make, the only tendency to
ease being at some primary markets for
wheat and cotton.
If the domestic wheat crop be nlaced
at $4,000 900 bushels this year, which is
materially larger than government re-
ports indicate, even the largest allowance
Tor wheat carried over in the United
States on July l last, is shown by Brad
streets to permit only a slightly larger
expqrt surplus TINS cereal year than last.
Important wheat exporting countries, this
is of great significance. Should govern
MehI INDICATIONS OF the size Of the domes-
TIC wheat crop prove true, the indicated
surplus for export this cereal year would
not be much more than 1000, 900 bushels.
ana more tnan % per cent. of that told
The general tendency of prices of sta
pies continues most of the advances of
q wen dSOs nOldDly those Tor cereals.
wool. cotton. leather, while iron. steel
lumber and hides remain firm. The bank
clear1ngs gauge of the volume of bust
ness brings an. expected decrease as
compared with last week, the falling off
to more than 5 per cent. the
total for six days ending September "a
being $S33.O00.000. The decrease his week
| compared with the corresponding week in
1895 is IA per cent, but as contrasted with
the corresponding week in 1894. this weeks
4 gain is nearly 4 per cent. The gain as
compared with the fourth week of Sep
TENDER, in the panic year, 1898, is IL per
cent, but the decrease. when contrasted
cent.
Easier conditions in the money market
and the better political outlook have
| caused a bullish feeling and an advance
in speculative stock values at New York.
| The improvement is mainly on profess
sional buying and covering Of shorts, but
| the market tends TO widen, as shown by
the activity and strength of low-priced
stocks. Bear operators made unsuccess-
full efforts to sell the market down. in am
ticipation of the advance of the Bank
of England rate, blu produced no liquida-
ton, as stocks seem to be in strong
hands. The sale at foreclosure of the
Reading property attracts attention to
the reorganization of that property. The
Bank of England rate was advanced on
Thursday from 2a to 3 per cent, and
open market discount there is higher at
N per cent, but American stock values
here are firmer at 4.S4 for demand bills.
( 1iSa66tt1CntO VI VI III GulOpcE dSAIt-
eating s., 100000 for shipment here are an
nounced. $4,000, 600 being taken on Friday,
ana g. 755.000 gold have arrived, exclusive
of s2,5 900 received at San Francisco from
Australia.
From R. G.. Dun & Co.'s weekly Re-
view
A very moderate and yet distinct inn
provement is seen, no longer only in the
buying of materials which continues and
stiffens prices. but also in orders for
| Dr0dIIcfS of some industries in nnpau
markets, and in exports of staples. 1t is
as yet little more h a step toward bet
ter things, but has already started some
important works, and prompted a few
considerable contracts. Continuing ar
rivals of gold, about SS1, 901. $50 since the
movement began, have raised the Treas
ury reserve above $l25, 600. 900, strength
ened the banks, and relaxed the ~stringency
in commercial loans, so that at about i
per cent. lower rates more business was
done than in three previous weeks.
boarding is no longer reported. but some
boards are being unlocked. The move
ment of crops continues large. and pur-
prevented depression. While the gain
in working force is not great, it seems
clear that for the first time in many
months there is some net gain. IN
ereasing confidence in the political future
IN the judgment of most business men,
has some influence.
Speculation in stocks shows increased
confidence. and the average Of prices for
railway shares has advanced SI.34 per
share, and Of Trust shares 81. 50 per share.
1t is not present business but faith ia the
future which gives strength. for earnings
in September thus far have been 3.3 per
cent. below last years, and 11.5 below
those of 1892. The tonnage eastbouHd con-
tinues large, nearly 8 per cent. larger
than in 1892. and the decrease in earnings
Is due partly to lower rates and partly to
narrow westbouDd movement Payments
through clearing houses do not improve,
and for the week are 1873 per cent. below
last years, and 1876 below those of 1892.
The hesitation in business has been very
real. and there is not yet time for recov-
cry to show itself in shipments or paw
ments. Foreign trade is also small. i'm
ports 81 per cent smaller than last wear
for the week, and 25.5 per cent. smaller
than for September.
Failures have been large, liabilities in
three weeks Of September. sl8. 019 .2s2
against $6.633, 800 last year. $5,278.b84 in lS94
and SIG, SS9. 1871 In 1888, including the T,oml
bard concern for 81. 600, 600. Manufacfur.
ing this year have been $685.. l40. agairst
50, 9 AS last year. and $2.3s2. 3l3 in 1894
while trading have been 81, 3H againss
50, $4,000 last year. and $2.679,u2 IN 1894
Why is ~,
ii eatarrh is a blood disease. as soni
claim. that physicians frequently advise
change of air and climate to those sur
fering? CatarFh il q climatic affection
and uofEipr bfff q lnpaf roroa[xr -.