The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-12-19
THE BUSINESS OUTLOOK.

tksrom BradStreetS state OF Iraue.
Wholesale trade continues of smaller
volume than expected, practically the only
activity in wholesale Lines being in gro
%ceries, candies. fruits and nuts. The
weather has interfered with s~easonable
business, which at man. centres Is small
Ter than in preceding years, in that a
large proportion of purchases are Of a
cheap grade of goods. There is a de-
crease in demand at Atlanta and Seattle,
but at Nashville, Sioux Fails, Savannah
and Jacksonville lobbipg lines announce
an increase in demand. AT almost all
other points general trade remains quiet
and unchanged, with retailers of holiday
goods experiencing the only activity.
The downward tendency Of prices point
includes quotations for hides, which caused
boot and shoe Jobbefs to restrict pur-
chases, anticipating cuts in prices for
shoes; steel rails, with a drop OF 50 a ton,
steel billets. with a drop of 1926 on the
failure of the combination, and Bessemer
pig iron, owing to the general tendency
on confidence in a larger crop than ex-
staple, and because Of the large stock
oats and petroleum. Steady or practically
unchanged quotations are reported for
pork, lard, coffee and sugar Wheat and
rosin are higher.
At IL 6Ooac AAoAh0t 10 40ASL v FCa-
sonable fabrics, jobbers repairing only q
small recorder trade. Woollen mills re-
port a moderate quantity of orders. At
the south the decline in the price OF raw
are still carrying that staple. An increased
wheat acreage is reported from Cali
fornia.
Total bank clearings for the week nave
not changed materially. increasing only
about 2 per cent. compared with last
week. When contrasted with the cor
Arr1H f-rr -1~ @fa@f xvAA. %lf- =
total shows a falling off of 9 per cent,
but an increase Of 6 per cent. as COM
pared with the like week in 1894, and Of
e ps Iar eent- bank @adh c iee hss P tota,s On u l pse.
ord is that for the third week of Decem-
Der, 1892 s., 5l2; 900, eO~0-compared With
which this weeks total shows a falling
off of nearly 80 per cent.
Stock values are depressed and the mar
ket is very unsettled on the action of the
Senate Foreign Affairs Committee, which
| ate a Joint resolution recognizing the in
dependence of Cuba. Prior to that the
stock market was inclined to recover
gFeand for on t the hhB oIidaga asa recess ea ee e G9ns
Of speculative short contracts. Foreign
exchange is very firm, in sympathy with
london and Berlin Demand sterIing IS IS
4.S211z and reichnarks are up to the gold
shipping point. and some gold is expect
| cd TO go to Germany e. week.
Exports of wheat flour Included as
wheat from both coasts of the United
States this week amount 20 asa, S26 bush
last week. 5sos6, 600 bushels in the core
spending week one year ago, 1854. 600
bushels in the week two years ago, 2,605,-
eog bushels thrss 8 g Ses ago; and as con
week of 1892. Exports of Indian corn from
both coasts continue heavy, a~ggregating
2sl4 100 bushels, as COMPARED with 3.541.-
600 bushels last week, 2,057, 900 bushels in
the week g year ago, n an average of
| about SOC. 200 bushels each in CORRESPOND
ing weeks in three preceding years.
(From r. G. Dun & Co.'s Weekly
| Reyiew.P1
Cuban reports, unusual eloseness of
money in Germany, and the decision that
there Will be no action on the tariff at this
| session, have not really changed the stu
| alton, but IA been talked about as If
they might change it. A sudden demand
| for gold from Germany, just before the
| close of the year, Is not unusual, nor does
it count for much. No facts, but only de-
| sires or fears. have led some to look for
| a change of tariff before March, and con-
siderable speculation based on that idea
has been arrested, but other business
| waits for the gradual Improvement of the
| consuming demand. The holiday trade Is
| generally large, though at some points
more confined to cheap goods thar usual,
| and the ~infiuenc of an increase in the
I working force is felt in other ways. But
| until the new year the only material
X GudIg66 tkPteltQ dI6 SuG4 as pftpaTS IUE
a large business next year. In the iron
| and steellinduetry these appear of the ut
| most importance.
Since events for some months to come
| will turn largely on the state of foreign
trade, 1t Is cheering that produce exports
In November were S109, 991 ,937 in value,
| amounting for three months to 1907, T49, ST.,
more than double the value Of imports,
| cess, which has brought hither in three
months net imports Of gold amounting to
! S68. $40, 143. bcside establishing credits Of
many millions In London which Virtually
not prevented, it is believed, a special
shipment Of gold to Germany next week,
for which the German bank pays a pre-
MUM to meet demands January !. sup
posed to be on Russian account. London ef-
fects the shipment by borrowing more
millions here, so that the amount of such
Sterling advances $ new lsckonga at Ssss.
/ c4use advance in the rate OF interest, re-
alizing on exchange drafts, Of which many
become due before or shortly after Janu-
arv 1, and a sharper demand on london
than may be convenient. But with s.
worth of produce going out for every 81
worth OF goods brought in, nothing OF an
ordinary nature can cause gold exports
Of CONSEQUENCE. In two weeks Of Decem-
her exports from New York have been s
per cent. larger and imports here u per
cent. smaller than last year.
The control of the Mountain IRON Mes
sabi mine has been leased for fifty years
or pIirchased by the Carnegie interest
from Mr.. j. d. Rockefeller. the ore to be
shipped by his new steamship line on the
lakes. and by the new railway which the
carnegie ompan Is building to Lake
Ere. This, with the erection of sixteen
new open hearth furnaces. making thirty
XIX ensures enormous increase of product
II extreme low cost. and win affect al
Examinations in steel products or in ore.
TN billet pool has practically dissolved,
and sales are reported at SIS Or s17, with
Contracts to supply consumers through
most or whole of next year. The beam
moi has revived and restored the price
r. sl.55. but nails and steel bars are q
shade lower. The ral association has
been in>session. and our Philadelphia dis
hatch states that rails are sold at SIS
against $2s so long maintained.
TUbeaf rose 2 cents Monday, but de-
clined stiiI further and closed Is cent
lower for the week The receipts in two
weeks nave been 6,625, 1872 bushels against
L. G00,5 ISL last year and Atlantic exports
for three weeks have been, -four included
6,92f,1A bushels against 5,9Q7,S24 last year
November exports. iour included, wers
If. $50. 1876 bushels against II, 1882, lao last year
~ which Pacific were 5,81S,149 agains
4,405, 301 last year For three months ex'
ports of cotton and breadstuffs 0nly havt
about eaualled the total value Of al I'M
Stocks have been weak, with earning.
IN December thus far Is per cent. les:
tnan last year afid I3.6 Less Than Ia 1892
| C11ftsac0 "a Sf-bound tonnage being 0n15