The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-01-25
THE BUSINESS OUTLOOK.

GTrom Bradstreet's eStats Of Trade. y
An analysis OF special kilograms to Brad
streets from the more important business
centre throughout the country shows consid-
able feature being the tendency of staple
prices to advance. The late drop in iron ano
steel prices was one of the shortest on record.
Restriction of production of pig iron and adj
vances for 1896 delivery of prices OF coke
and lake ore prove sufficient stimulus &c
push quotations for Bessemer pig and steel
billets up 81 % 81 a ton at western centres.
The impression prevails that these prices are
likely to be maintained.
The advance Of &c. in wheat again raises
the question whether the beginning of the
end Of the long period of depression Of cereal
prices has come. Supplies of wheat for lead
ing importing markets are now controlled by
1 Russia and the United States. midas. as well
as Argentina s.. ability to ship is much re-
stricted compared with previous years. and
Australia left the list of exporters when she
began to import wheat from San Francisco
recently. Domestic wheat stocks are larger
than earlier official and trade estimates OF
1t, but the export demand has increased so
far beyond what was anticipated, and gives
so much promise of being continued. that the
bulls in the speculative markets are count
ing on higher prices.
Total bank .ciearings throughout the United
States amount to 1886. 900, 900 this week. a de-
crease Of 5 per cent from the preceding week,
but an increase of nearly 7 per cent. as COM
pared with the corresponding week in Janu-
airy last year. When contrasted with the like
| total in 1894, this weeks aggregate shows an
CikdS VI n PCE Ettll-s u Wnen GOIlpdItQ
with the corresponding week of 1898 (when the
| volume of business was heavy, prior to the
panic). this weeks falling off is fully 80
per cent, and as compared with the like week
in 1882, this weeks decrease is 10 per cent.
Stock speculation at New York is limited in
both activity and the quantity of the trading.
| Sentiment. however, has improved on the bet
ter International outlook here and abroad and
the decrease of approximations about the money
market. The fear of disturbance in the latter
quarter as the result Of subscriptions for the
new government bonds has been greatly modi-
fed. and time money is offered more freely.
London has inclined to buy stocks, and short
covering has helped the advance. The stock
market is, however,. narrow and professional.
Foreign excf~nge Is dull and less firm at
4.ss. Gold shipments for the week are ? $500,
600. No gold exports are announced by Satur-
days steamers. Gold imports for bond sub
scriptiop purposes were 81, $50, 600. The pre-
MUM Of %@5s for gold or legal tenders for
use in the same connection Is still quoted, but
transactions are less important. 1t seems
that bidders for the new bonds have generally
completed their arrangements.
The comparatively unfavorable business fea-
lures are the somewhat disappointing char
acter OF the opening of spring trade in lead
ing staple lines and small totals of bank
/ elearings, registering the reaction in trade
which showed itself more than a month ago.
AT such centres as Chicago and St. Louis
reports are made that interior merchants have
been disappointed in the seasons business,
and are buying omewhat more sparingly than
expected, although many jobbers at those cit
les report that travellers for clothing. dry
I 6ooASt o4.V1Z dia "a oi1 lohA4lS
fair orders for spring delivery. Most favor
able reports regarding the movement of mer-
~chandise, present and prospective, are from
Baltimore, where orders are being received
freely and prospects for spring trade are
bright; from Buffalo, where the money mar
ket is reported more active than for two years
past, and from Charleston, where almost all
leading jobbers report an improvement in
business. The increased activity in leading
money markets is noticeable at Providence
and Boston, where commercial paper is being
more closely scanned. AT larger western CEN
tres money is easier, with lower rates for
exchange on New York.
From r. G. Dun & Co.'S Weekly Re-
The week has been marked by. improvement
apparent rather than real. Prices Of some
products have risen, but only because sup
plies are believed to be smaller than was ex-
pected. Prices of pig iron and billets have
risen, but because coke and ore have been
made dearer, and not because of any better
demand for finished products. Money has
been easier, but only because more has been
borrowed from Europe at a time when the
actual balance Of trade takes money hence
to Europe. The Senate still Injuries all bust
ness by doing nothing, and the Treasury
cannot expect to gain in gold as yet, but loses
less than was expected. 1t is generally as
sumed that the new loan will be placed
without difficulty, though the successive pay
ments may cause continued disturbance. Bust
ness at the mills does not revive, nor is it to.
be expected While Congress does nothing, and
payments through clearing houses for the
week are .6.5 per cent. larger than last year,
but 1913 per cent. less than in 1893, being
less satisfactory than for a long time.
A deluge of foreign reports favorable to
wheat speculation found ready answer in an
advance of over 5 cents here, in spite Of
Western receipts SO per cent. larger than last
year. Atlantic exports for the week were also
much larger than last year, for the first time
in several months. but for the crop year to
date ali exports have been about II. GOO. 900
bushels smaller than last year. The market
has the idea that foreign demands hereafter
must be much greater because of deficient
supplies elsewhere but no one expects that
the increase will be at all commensurate with
the enormous increase In Western receipts, 81
per cent. since the crop year began, 1871, 500. 900
bushels, against 107. $50, 191 last year. Corn adj
vanced because wheat advanced, receipts and
exports continuing as before. Cotton rose
yield at seven million bates, and receipts to
date support that estimate, but there are
many who reason that the surplus. will be
dangerously small at the end of the crop year,
even If the yield is seven million bales. The
actual marketing of goods in Europe and in
this country hardly supports THAI view.
Textile industries do not gain. With ma
terials practically unchanged, they halt be-
cause the demand for future delivery is so
been storing up staple goods, but prices have
gradually declined ever since October II. and
now average 6.4 per cent. lower than at that
point, when the rise from the lowest average
of quotations in March, 1885. had been 22.9
per cent. In Europe, as here, mills are rum
ming largely against expectations. Wooden
goods also teAd lu8efs Win SIudIl demand,
and are practically at the prices of a year
ago, though wool is higher. sales having been
1880. $50 pounds in three wees. Of which H.
ISL 900 were foreign, against II .246, 365 last
year, OF which ssh, $50 were foreign.
The money markets are a shade easier, but
BY no means healthy. There is a constant
fear that preparations to pay for bonds will
cause trouble, and bankers are protesting
themselves as best they can, the more be-
cause tlfeAmagnitude Of recent failures leads
to a belief that maturities within a short
time to come may result Disappointment.
Exports for the week have been large, while
imports are relatively larger for three weeks
the merchandise exports and imports have
been scarcely / per cent. larger than last
year. But this and other official statements
make no account of the INTERPRETATIONS of
imports, and the rate OF exchange, and the
continuing exports of gold, amounting to ST.
500, 900 this week in spite of imports amount
ing to $450.00O for bond purchases, show that
the ordinary trade balances are decidedly
adverse.
Failures for fifteen days OF January have
shown liabilities amounting to $12, 5sS. SIT
against 1861, 200 in seventeen days of last
year, and $13. 65s, 900 in eighteen days of 1894.
Manufacturing liabilities were SABA, 66s against
S1.5T2,04s last year. and $6,072.S 1873 in 1894, and
trading liabilities were 81, T67.426. against $5,-
SOL, f66 last year, and Sc, 800. 1853 In 1894. The
failures for the week have been 33 In the
United States. against 1853 last year, and 81
In Canada against 50 last year.
HoWss Thia.
We offer~ One Hundre Dollars Reward
for any case of Catarrh that cannot be
cured by Halls CatarrhxCure.
r. III. CHENEY s. CO., Props. Toledo. o..
80 JnEf 1r1nVrfnr1za = $500