The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-11-07
From R. G. Dun & Co.'s weekly Re-
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A great revolution has been effected
this week in the conditions which con-
troll business. It could not be in any fair
degree reflected as yet in transactions
or in records, but there is ample evidence
already that a crushing weight has been
lifted and rolled away, and the business
world has begun TO adjust itself to a
state of freedom and security which 1t
has not known for years, Dread of inn
measurable disaster NO longer locks up
resources and paralyzes enterprise, and
new contracts involving many millions
have become binding since the election.
The rush for stocks on Wednesday lifted
the average for all railways S1.16 per share
in a single day and Trust stocks $1.54,
and in many of the most active the ad-
vance was so sudden that heavy sales
wild advance of over 3 cents. In wheat on
Monday and Wednesday was also fol
lowed by realizing and decline on Thurs
premium on gold, which had reached
about 2 per cent, the unlocking of many
millions which had been boarded, the col
lapse OF the interest rate from 8 and IL to
8 and 5s per Gent, and the quick de-
mand for American securities on foreign
account, are signs Of more lasting
and of fear, all men know, means an in
calculable relief for all industry and
trade.
expected TO show improvement in the
volume of business. So engrossed was
the country with the political contest that
Saturday was almost a holiday at many
cities as well as Tuesday, and clearings
showed a decrease of 10.5 per cent. com
pared with last year and 1873 per cent.
in the last week of October were rela-
lively smaller han in other weeks and
for the month, though better than in
years and SIS per cent Below those Of
1892. Tonnage west bound and north and
south at Indianapolis is the heaviest for
from Chicago was only 200, 057 tons in four
weeks of October against 35s. 722 last year
and 294, 1855 in 1892. 1t was not because OF
past or present business that stocks rose
to an average of $49. rs per share on Wed
| nesday, but millions of unlocked hoard
sought investment. and about 10000 shares
were taken on London ac &c Prices
by estimates of the better things that
are coming.
The evil effects of a speculative rise
strieted purchases of boots and shoes,
resulting from the small advance in
prices, which has made no progress the
past week. but was caused by a rise OF
il per cent. in leather. Behind that Is
the speculative rise Of over 40 per cent.
IN hides since the first week in September,
for which no valid excuse appears. The
election Immediately stiffened prices OF
pig iron. which reached $f2 at Piftsburs
| for Bessenler. and the certainty that many
large orders for buildings and bridges
1 and theirs finished forms would now be-
come operative j~ustifies some advance.
The future of this trade now depends
upon the extent of increase In demand
for finished products OF iron and steel,
which il likely TO be materially affected
by the course pursued by various combin-
atoms.
Foreign exchange . has sharpely de-
clined. and more imports of gold have
been arranged. The movement must ex-
pand further II foreign purchases OF stocks
continue. Failures for the month 81 oc-
tober are gwen by branches Of business
this week, showing marked and most en-
~couraging improvement over returns NJ