The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-02-01
Erom r. q. Dun & Co.'s Weekly Re-
view.3

Though business is still waiting, there are
some signs of definite improvement. 1t is
now believed that the first payment for
bonds will cause no further pressure. and
the money markets are easier as respects
loans or collateral, though the difficulty Of
making commercial loans still checks operations
But large maturities at the end of January
have been met more satisfactorily than was
expected. and merchants and bankers report
that the signs promise a good spring trade.
No increase appears as yet in the demand
for the principal products, unless for some
forms of iron and steel, in which good con-
tracts have been made this week. and IN
certainty as to Congressional action still
affects both industries and commerce., but the
increase in inquiry and the reports Of deal
ers are deemed assurance of large trade
coming whenever the uncertainty is over.
Domestic trade recorded through clearing
houses is 6.5 per cent. smaller than a year
ago. which has not happened before for about
two years, and 1854 per cent smaller than
in the same week of 1898; but happily the con-
ditions which most affect business at present
are of a temporary nature, SO that hopes are
entertained brighter than accounts of current
business would Justify.
Signs of improvement in the iron and steel
business are gratifying. even though they
spring from Combinations which have raised
the price of coke and allotted the output of
Lake iron ore. A contract for twenty thous-
and tons rails, Pacific delivery, taken by an
Eastern concern In competition with. foreign
makers, a contract for 5000 tons plates for the
East Jersey Water Works, contracts for A.
100 tons east pipe at 1922 taken by Alabama
works, with contracts for the Commercial
Gable and other building here covering 81
500 tons, are the main features, but there
is also q better demand for wire nails, after
long stagnation. and also for sheets.
The demand for boots and shoes does not
enlarge, though prices still decline about 8
per cent. for the week, and hides and leather
are both lower. Buyers show no increase OF
confidence and most of the shops in operation
are working part time.
& The cotton mills are discussing ~curtailment
OF production, as goods continue weak, with an
outnnt largely exceeding distribution. though
the week has brought considerable more in
auiries, and a larger spring trade is still
hoped for.
eWoollens are practically unchanged as each
passing week of open weather diminishes the
prospect of profitable business, while jobbers,
ciothiers and retailers have considerable stocks
-Uf heavy goods remaining. Sales of wool at
the three chief markets, {, 945. $50 lbs. domestic
in January against IL. GOA. 915 last year, but
IA; 074, 900 foreign against 9.55l, $50 last year.
have diminised Of late. manufacturers buy
ing only for present needs.
Wheat has again advanced about three cents
for cash. but only IN ct. for May, although
Atlantic exports are little larger than a year
ago, and for four weeks. flour included. have
been 8, 403, 765 bushels. against 7.a72. 5S4 last
year. Neither this fact nor the continued ex-
cess of Western reeeipts-for the week 2, 2Sl,-
s12 bushels. against 1.226, o12 last year-ex-
excuse must be sought in foreign reports.
Corn has ceased to "symDathize." and records.
little advance. Cotton is a shade lower than
a week ago.
There Is an increase OF about $1,000, 0G0 for
the. month In imports at New York, the in
crease in dry goods being that much in the
last week alone. while exports Of products