The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-07-25
THE BUSINESS OUTLOOK.
From Bradstreet's state Of Trade.

From Bradstreet's State Of Trade"
Telegraphic and mail adyices from COM
mercial and Industrial centres indicate q
more unsatisfactory state OF trade; Job
bers and retail houses show still TURNER
caution in the matter of securing sup
plies, buying for actual needs e q de-
gree hot heretofore reported. There Is
no outlook favoring an early revival Of
trade, while the volume of sales con-
tinues light and prices low. with a fur
uaer restriction Of credits. The general
money market is dull. due not only to
caution on the part of banks an DIS
counting. but 70 a falling off in demand
Unfavorable crop reports from Nebraska
have caused cancellation of some orders.
and lo-ng-continued rains in Tennessee
have checked business there. Louisiana
reports the new rice crop short, and
EASTERN Washington and Oregon that
the lo-ng-continued dry season has had an
unfavorable effect on the wheat crop.
trade situation is moderately increased
orders for dry goods and hardware al
most every other line is quiet or de-
pressed.
The regular quarterly comparison in
"Bradstreet's' of prices Of l0S staple
products. produce. ETC., for five years,
terially recovered from the depression
reached since the panic Of 1893. Com
pared with July /, 1894, when trade was
greatly depressed, there are 20 increases
in quotations or July !, this year, about
one-quarter being agricultural products,
notably wheat, cotton and sugar. Other
advances are for iron. steel, coal, hides,
brick, glass, drugs and chemicals. Con-
trasted with July l, 1895, at which there
was a general advance In demand and
quotations, prices on July ] this year
| July 1, 1893. only Is cut Of lNs items for
| which prices are given show advances
today, notably drugs. chemicals, hides,
Compared with July l, 1892. when general
trade was prosperous. only q quotations
appear higher, Including most Of those
OF the more important; drugs and
chemicals, rice, cotton and hay, and a
few minor agricultural products, ehe
range of prices of staples on July, /, 1895,
continues below the level reached at or
| just prior to the panic of 1898.
The industrial situation IS somewhat
more depressed. particularly in iron and
steel, prices for most varieties of which.
notably southern pig iron. are shaded;
The encouraging feature in iron and
steel IS the extent to which stacks have
number Of striking employees in several
lines, but the new scale of wages asked
by the iron and steel workers has been
largely acceeded to. Production is ma
~terially curtailed among manufacturers
of woolens and cotton, as heretofore.
n in locomotive, hardware, silver.
jewelry and humber industries. Shoe
factories are busy, mostly IN old orders.
Eastern wool dealers report no demand.
and some leading houses refuse to in
crease stocks either By purchase or con.
s-S&AAAAN@Ets az N%E ~ ~
dry goods trade appears to consist of
preparations to show fall goods.
Bank elearings t~hdroughout the United
about 5 per cent. more tha last week,
and per cent. more than In the CORE
spending week o n year ago. e zen.
when business was extremely depressed, IS
more marked. showing an increase OF %
week in 1883. this weeks total shows an
increase Of Il per cent. Contrssted with
the corresponding total in 1892, bank
are smaller by only a fraction Of / per
cent. The noteworthy advances IN quo
tations this week are for wheat. -four,
| creases are shown in indian corn. pork,
lard. coffee. sugar and print cloths. Bust
ness failures for the geek number $50
throughout the United States. against 255
last week, 239 In the week a year ago,
and 237 in the week two years ago.
The -disorganiz;ng tendencies of the
checked by the action of the New York
banks in turning over some Si6, e15.00 of
gold to the Treasury in exchange for
menf god reserve to sos, . 1000, No less
important is the action Of the foreign
bankers and drawers of exchange, who
M. J. P. Morgan. TO formulate a plan
to minimize gold exporting. 1t Is report
Cd that a banking syndicate to draw s5o..
probably be formed. Gold exports this
week are s5,050,o00. but no gold will be
SHIPPED tcday, ana exchange rates have
ing. These arrangement have measur-
ably dispeiled the panicky feeling ard dis
gold, and caused a reassertion Of conf.
dence. Prices of securities. after break
ing to a level, in some cases below the
quotations of the panic of 1898. have
recessions were recorded on the ihdorse-
mant of the free silver candidate. by the
a pQpn emoo aaa the eapa F9Sgess OF T + gola 5n @tana-
tive market is feverish and irregular, with
professional interest and stock market
steadily and heavily on the areaI. but
is disposed to realize on the rally.
Exports of wheat tfour included as
States and from Montreal amount to g.
o73.GV0 bushels. this. week, as COMPARED
with 2,9es.o 900 bushels last week. 1.265. 600
3.3sS.09o bushels in the Ike week in 1894.
and with 4.3e3, 900 bushels in the cores
ponding week of 1893.
(From r. G. Dun & Co.'S weekly Re-
(view.")
The week began with extreme depres-
sion in stock and speculative markets,
the fall of the Treasury reserve below the
minimum. Tine Popuiist and Silver con-
ventions caused some apprehension. and
large Withdrawals of gold for boarding
were rather feared than seen. Stocks
| fell rapidly and on Monday averaged low
| er than at any time this year or during
the Venezuela alarm IN December, when
the lowest average was S45.G9 for rail-
| roads and $46.W for Trusts, but at the
close on Monday averages were $43.75 for
, railroads n $500 for Trusts. Then
came sharp recovery with the union Of
| hanks to turn $40, 099.0 0 gold into the
Treasury, and of international bankers
to control foreign exchange, and the
averages rose or Friday TO s4f.56 and
S4.44. The gold reserve has been quickly
lifted above 800 900, 900. and political
events nave helped to clear away appre-
heDsion. Business of all kinds has been
considerably affected by the monetary
! conditions and is slower to improve.
The produce markets have been seri-
| ously depressed. lard making the lowest
| quotations on record. corn falling to 80
| css.. wheat to g.. IS. and cotton to 7.12 cts.
Nothing appears of encouragement in
the industries. and there mas been a
| considerable further decline in the work
| ing force. THE closing of iron furnaces
| continues, only three out of eleven in the
| Mahoning and four or FIVE cut of sixteen
in the Shenango Valley remaining in
blast, and yet prices fail. as unsold stocks
| are the largest ever known while the
| demand is remarkably light.
Money markets ave advanced, and
| banks are preparing for the fall demand
with more ease because there is scarcely
! any Offering of commercial loans. Rates
have risen sharply, and the rapid move