The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-06-27
The BUSINESS OUTLOOK.

- AoiSe AtPc1u1 1tGlll& IN TRADE circles
within the past ten days. explained as d
20 the adoption of a gold plank at St
LOUIS, has been given undue weight. In.
terviews with merchants in staple lines a
twenty-five of the more important dis.
tributing centres show that, aside from
Ine increased strength Of wool in the
Boston and Philadelphia), an improved de
nand for hardware at Providence, fol
cio5nlng and shoes at Baltimore, shoes
ines at st. Louis, there has been no i'm
provemept in trade. AT Chicago there Ii
a more hopeful sentiment, but no increase
oers at important cities shows no expec-
tatlon OF q revival in general trade until
alter election, and at some points no real
improvement Is expected until next year.
On the Pacific coast. San Francisco CON
tinues to send increased shipments OF
flour to China. but reports the CALIFORNIA;
outlook for wheat in Oregon and Washing
ton is very favorable. There is. there.
fore, an almost uniformly favorable crop
outlook, now that rain has appeared ii
Texas to relieve the cotton and corn
crops, and there IS a stimulated demand
Ter anthracite coal, and activity at shoe
factories. with q good demand from job
bers. Relatively most confidence is
SHOWN in the outlook at Chicago, where q
marked revival in trade is regarded, in
some instances, as probable within sixty
days. The point is made that whereas a
year ago country merchants were adding
e their stocks. because of the then general
IA Rki0C@ ON1dJ L1t1 are uuflllS
from hand to mouth with stocks much
reduced.
The volume of general trade is no larger
Enan last week; IN some lines it is smaller,
notably at Pfttsburg and Kansas City.
midsummer dullness characterizes opera
tons at almost all points. Relatively
dry goods jobbers, who have sacrificed
prices to reduce heavy stocks of cotton
e gSafs; at f FIJI RfSer 3 1,pstS = Of f. print Fn1t
lowed by similar action at Providence
and at Augusta. New England rubber
manufacturers are cuitailing production,
and steel Industries is less satisfactory,
with a prospective cut IN the price of Bes-
semer pig iron, and the probability of the
hlMef combination reducing quotations
and lower prices for cox In addition
there are reduced prices for leaf tobacco,
petroleum and cotton. for wheat, wheat
homr, oats. pork. lard, sugar and coffee.
Ine failure of the sound-money victory
70 develop public or roreign interest in
STOCK speculation has disappointed Wall
street. Fears that free-silver ideas will
an unfavorable effect. The HE active
influence In the weeks stock market was
a ten-point drop in sugar refining stock.
produced by the Weakness of raw and re-
fined uga Insiders are credited with
helping the decline, fbut the stock was
supported at the lower level, and refined
siderable liquidation in the general rail
road list, and prices are lower all around
Inc snort interest tends to keep prices
steady, and pressure has relaxed. Far
eign exchange is weak on the absence Of
inquiry. Demand sterling is 4.8S. Cold
shipments for the week are 1856. 600, but
1t IS thought the gold export season is
over; London has not been a factor in the
market; only professionals there win
touch Americans in the present uncertain
~ about the currency. Silver is higher
on speculative buying of silver bullion
certificates in the New York market.
Ine total volume of bank c~learings
shows a material reaction from the ag-
sS9s, COO. 900. As compared with the fourth
Week in June, 1895. this weeks total shows
a railing off of Il per cent. but it IS Is
week of 1894, although 6 per cent. srnaiIer
than in the like week of 1893. and nearly
10 per cent. smaller than in 1892.
From X. G. Dun & Co.'S weekly Review. ;,
The monetary outlook is not yet clear to
some. The strength shown in recent con-
ventioDs by advocates OF silver COMA ge
and expectation that all the elements fav-
incline them to a waiting attitude. Their
uncertainty regards Improvement, notwith
standing the more widely prevalent feel
ing that the monetary acton of the st.
the people. But many mills have waited
as long as they can with safety, and sig
natures nave been given by enough cot
ton mills of Fall River to ensure 4 tenn
porary stoppage, it is stated, the nature
of which is now under discussion in con-
ference with the Providence manufacture
ers; Meanwhile the Pacific OF Lawrence
and the Naumkeag of Salem have closed
for a time, and practically all the South
ern cotton mills will be represented at p
meeting on Monday with the same object.
Woollen mills are acting without concert.
but fourteen are mentioned in dispatches
as having closed this week. There is no
similar movement in other industries.
though the period of summer closing is
~ hand IT, n - -
controversies as to wages of iron puddlers
and other hands make it likely tina the
anLuai stoppage in that industry may
last longer than usual.
abroad this week, bankers generally be-
lieve that a change in foreign trade Will
arrest the outgo and cause imports be-
fore long, The increase Of about 80 per
York, with decrease of 1876 per cent in
imports of all foreign goods for four
weeks past, shows a favorable balance,
specie movement. Currency comes hither
from the interior, but only 50, OO0.0 900 mel
for the week, while the commercial de-
mand for money is not large anywhere.
and there is scarcely the faintest posi-
bility of any financial disturbance. Al
though the Treasury deficit continues, II
Is for this month only about 81, 600, 900.
stocks about u cents per share and trust
stocks about 10 cents, heavy operations III
sugar engrossing attention, but railroad
earnings for June thus far reported are
AZ per cent. larger thar last year and
only lilo less than in 1892. New railroads
for the first half of the year, according
to the Railroad Gazette cover. only III
1888, and 2.o5 in 1880, but the tonnage
east-bound from Chicago continues larger
than in any past year, 1877 12 tons in three
weeks of tune against 100, 100 in 1893.
Commercial failures in three weeks of
June. exclusive of one for about 81, O00,-
900 not yet reported, show liabilities Of
81. 658, GA, against SIG. sos, or last year, in
465 in the same week Of 1894. Manufac-
turing were s ,S48, 495, against So, 106, 29s, ex-
elusive OF Cordage, last year. and s.. 1906, y
464 in 1884: Trading were So, 732, 3S7, against
Failures for the week have been 217 In
the United States, against 256 last year,
and "a in Canada, against % last yer.
NExAy DIIRftnA TInNc