The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-10-17

s., 900, 600 have been taken in London this
week for shipment hither. and exchange
is weak at 4S3@4.S4, the Bank. OF England
having made no advance in rs dissoua.
rate, which remains at 3 per cent. though
discount in the London open market IS up
to ga per cent. Foreign opinion on both
the political and financial outlook here
has improved, but 1t has not produced any
notable accession Of European buying.
the disposition of the public there as Wen
as here being TO wait.
Exports of wheat flour included as
wheat from both coasts Of the United
States and from Montreal this weak
amount to 4s156. SIT bushels, against 4,050,000
bushels last week, 2, 4o9. 900 bushels in the
week one year ago, 5,lg2,0W nusneis two
ago. and as compared with 100000 bush
els in the corresponding week Of 1882
Bank ~clearings totals amount to sss4,-
100000 this week 8 per cent. lest man ias5
week Of October. 1895, and rs per cent. less
HI in the corresponding week OF lSg.
The increase, as contrasted with the like
period of 1894, is 4.6 per cent, and as conn
pared with 1898, nearly ga per cent.
From r. q. Dun & Co.'S weekly Re-
view
Gold commands a small premium. The
most powerful force in business at pres
emf is a conservative timidity, and the
foreign bankers, who have been offering
for a small percentage to ensure people
against a premium on gold until Decem-
Der, have made an easy and a sure profit
Kansas, Nebraska, and other States
where the silver agitation is said to be
strong, come orders by many bankers
and business men to get them gold at a
some demand for boarding from indi-
yiduals in other States, who are afraid
even of Their own best Judgment. With
gold brought hither In large amounts by
Jaryf,poa ave froaa holanoaS and with aVarv
prospect that the movement will con-
tinue. business waits because the changes
threatened are so serious that men are
willing to face what they really consider
a certain but moderate loss, rather than
risk the incalculable consequences pos
sible. Other men nave a different tenn
permanent, and have begun to prepare for
next month with confidence. But the tone
of money markets, and the general condi-
ton of business, are to a great extent de-
termined by men who take counsel only
of their fears.
The one commercial change which, more
than any other, ensures betec business in
the near future, is the excess of merchan-
disc xports over imports. In September
exports were $85,098 .5e4 and imports only
$50, S25. 705, and the excess of exports was
$34. 272, SS9, in payment for which net I'M
ports of gold were s34, 249, 1873. Last year
the excess of merchandise imports was
ST. 765, 257 in September, and net exports
of gold SIG, 506. 553. In the our principal
NAooo@o - sHS%
than half in cotton. IN two weeks of
October the exports from New York have
increased 306 per cent. against BIZ in
September, while imports have decreased
"a per cent against S5.2 in September. Con-
tinued shipments of gold from Europe,
not including $4,000. 900 from Australia,
now amount to $50. $50. 900 since the move
ment began. of which $52. 100000 has al
ready arrived, and have not been arrest
ed by measures taken by the great Euro
pean banks.
Little is lone in commercial loans, al
though collections are reported better, and
some dry goods loans have been settled
before maturity. The denaId for loans
is narrow. and bankers are inclined to dis
courage expansion for the time. Failures
for eight days of October show liabilities
of 81, 944, o04 against So, 925, 500 IN ten days
last year. and 50, s21, sS7 in eleven days of
1891. Manufacturing were s2.G72.742 against
Sl,536, 265 last year, n 81. T9S. 636 in 1891,
| ard trading were s2.15l.262 against s.. 1856.
534 last year, and 81, 1896. CSC in 1894. Failures
for the week have been 1928 in the United
States against 2e3 last year, and 40 in
| Canada against 46 last wear.