The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-07-18
BUSINESS OUTLOOK.
From r. G.. Dun & Co.'s Weekly Re.
(vieW.,')

- E
From R. G. Dun & Co.'S Weekly Re
(view.,O
Disapproval of the action at the Chicago
Convention has had some influence in the
markets the past week, but a far more
important factor has been the feeling
that the financial future is still uncertain.
This acute attack of doubt, coming at a
time when business is for other reasons
seriously depressed, has made the week
unusually gloomy in speculative circles.
The average price of sixty active railroad
stocks has declined from SHIP to s4L.76
per share. and the average of trust stocks
from $3.50 to $4A4s per share. The opera
ticns of Spectators caused nearly al the
decline, but they would not have been
able to deDress prices in this fashion had
there NOT been a prevailing sense of dis
trust.
The exports of gold, probably amounting
to So, $3.50 0 for the week, appear to reflect
foreign, rather than American conditions,
because the merchandise exports for two
weeks of June nave been % per cent.
lafger than last year, while the imports
for substantially the same weeks have
been 20 per cent. smaller than last year.
Within a short time the rapidly inereas-
ing outgo of wheat will have an import
ant effect, and a little later the outgo of
cotton which viii probably be large at
low prices, and meanwhile the exports OF
animal products are heavy, prices being
exceptionally low. Current reports have
made European buying of securities con-
si6erably in excess of selling. but it is
necessary to note that Such reports Or
dinarfly deserve little confidence. because
New York SPECTATORS know how to make
orders seem to come from foreign sources.
The wheat market has been remark
ably well supported, in spite of a very
favorable report by the government, and
prices are a shade higher than a week
ago without any discoverable reason con-
nected with American supply or demand.
Cotton has fallen about half a cent in
options, and one-quarter Ia spot prices,
because the men who were sure there
would be a cotton famine in July. and
have been holding large quantities of
cotton in expectation of higher prices,
have changed their minds. The closing
of about three-quarters of the Southern
mills in producing capacity, and about
half of the Northern mills, for part of
the time until the new crop comes for
ward, VIII help to prevent a disastrous
decline in prices of goods, but if ac-
and the general rains in Texas have
helped the crop as much as many be-
ieve, the yield Is likely to be more than
100000 bales. The increase in consump-
ton here is not as yet effective in help
ing the prices of cotton goods. which
are still selling at about the lowest quo
The woolen manufacture is waiting.
and as new orders are exceedingly slew,
the sales of wool at the three chief mar
kets were for the week only 2,155,1 100
pounds, transactions at Boston being re-
pored the lowest ever known at that
market.
A n 4 LII It4A1G Adl0 VI IIN SNOW
liabilities of $A.4i7,956 against s.. 500. $50 In
| eleven days of last year and S2.es0.306 in
| 1894. Manufacturing were s.. 176.333 against
1851. S0f last year, and S1,0o9. S21 in 1891. and
trading were 81 .979.654 against STA SOP
last year and $i,4S, 204 in 1894. Failures
| for the week have been $50 in the Tinted
| States against 25G last year and 35 in
Canada against 80 last year,
From Bradstreets state Of Trade,
Nearly ali general merchandise markets
| continue dun, and the volume Of business
is smaller than anticipated. Litsle or no
! disposition is shown to engage in new en-
terprtses. both city and country merchants
| continuing 10 purchase with more than
usual conservatism in view of she UNI
settled financial outlook and the low range
! Of prices.
Bank ~clearings amount to $9s5. 09. 600 for
me week.. 3 per cent. less than last week.
This is q decrease from the correspondent
total in July, 1895, Of Z per cent. hut an
i~ncre6se of Is per cent. as COMPARED with
the like total In 1891. Contr&sfed with tha
corresponding aggregate in July, 1888 this
weeks cIeafiags are 2 per cent. smaller.
The more important decreases Ia prices
| for staples this week are for iron. steel
7 petroleum, Gotten. lard and coffee
Stock speculation at New York is zdul]
and prices are slightly better after exsen.
sIve liquidation ana bear selling. which
Ecarrtet quotations below the Venezuela
disturbance level of December. The re.
di1ction OF the Treasury gold, reserve BY
/ specie exports and gold boarding to be-
f0w s95. 091.V 900 was effective III creating
the decline. Collaborating Tendencies
have apparently been exaEgerated fon 40