The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-09-12
The BUSINESS OUTLOOK.

more than a dozen centers South and
West demand is now more active, the
volume Of sales has increased, and the
general outlook is much more favorable
for business later in the autumn. Not
withstanding# the Labor Day interruption
the weeks volume of business is slightly
heavier. several cities reporting a larger
/ demand this week to replenish depleted
stocks than during two preceding months.
notably among jobbers in groceries,, hard
ware. dry goods, millinery, hats and
shoes. The most marked Improvement is
at Chicago. ST. Louis, st. Paul, Minneap-
oils, P%ittsburg, Charleston and Augusta,
although other cities have reported a
better feeling and prospects for more ac-
tive demand. No such gain has taken
| place in financial as in commercial circles.
While there is an increased demand for
mercantile discounts the supply of money
is larger, though rates for money remain
change or higher quotations at Eastern
cities New Orleans bank failures have
resulted in restricted loans and volume
of trade at a time when the early move
n1ent of cotton and sugar prospects had
stimulated trade. In Texas farmers are
holding cotton for an advance in price,
and leading Georgia jobbers find mercan-
| tile collections much improved. Proyi-
- u WIN oAAi04AS Jtnt a y
and cotton goods manufactures, and that
nearly all the latter are running full time
again
There is a more encouraging look to the
prices movement also. Wheat is UP again
on continued active export movement and
a very general tendency on the part of
crop reporters to make out a nominal
shortage in the worlds production this
year. Short crop views as to oats and
cotton have like effects, the latter finally
having some influence in raising print
I 0i0fhG III ~ 14n1 l. ..~-@Ir.- -A~-1--
of cotton goods have begun to have less
weight. In addition, there are higher
| prices for anthracite coal and for petro-
leum. Enormous prospective supplies of
Indian corn and hogs depress prices for
them and for pork and lard. Quotations
for coffee are also off on the week, and
several sales of larger lots of wool nave
been made at cut prices, some for ex-
port. Oregon producers are said to be
carrying 100000 to 15,00 900 pounds of
wool in warehouses. awaiting higher
prices. Flour and sugar prices are UNI
Monthly gross earnings of railroads at
last begin to show results of the extreme
business depression of the past summer.
August earnings on 104 roads aggregate
S36, GO, $50, a decrease of "a per cent. from
a year ago. The ranger, coal and Pa
ciic roads show small gains, while the
central western trunk, southern and
southwestern roads report decreases. An
example of the general nature of the
decreasing tendency may be had from the
fact that two-thirds Of all the roads MAX
ing comparison with August a year ago
show decreases. For the eight months
the total earnings aggregate $279. S55. 1853,
a gain of SO per cent. over 1895, in which
year earnings of leading roads increased
AZ per cent. over 1894.
Exports Of wheat (iour included as
wheat from both coasts of the United
States and from Montreal this week
| amount to 3.799, 141 bushels, as compared
with 3,369,00 0 bushels last week, 100000
bushels in the corresponding week one
year ago, 2.789, 900 bushels two years ago,
and with 5,357, 600 bushels in the like week
of 1888.
Large arrivals of gold from Europe.
making the total receipts of specie over
$4,000 with the increase of the Treas
ury gold reserve to s107. 900, 900, have MAIN
tanned the bullish sentiment of the New
York speculative stock market in the
face of the Arkansas election and the
bank troubles at New Orleans. The mar
ket has been a professional one, but the
symptoms of approaching ease in the
local money market, with the declaration
Of the regular Manhattan and Western
Union dividends and the favorable an
nual report of the st. Paul Railroad,
have tended to support prices. Foreign
exchange has weakened to 4.S3A for de-
the advance Of the Bank of England
rate from 2 to 2A per cent, and the rise
of open market discounts there from rs
10 2 per cent. The price of American gold
WdS dis aIdiSSN, u llc pressure VI COIIi-
mercial bills and absence of inquiry save
from gold importers promise to keep up
the gold import movement.
Bank clearings for the current week
reflect in part business conditions of sew
eral weeks ago. The weeks total is $3.50,
100000 which is 5 per cent. less than last
week, "a per cent, less than the like total
one year ago, II per cent. less than in the
week two years ago, A per cent. less than
in the second week of September, 1893.
and IS per cent. less than IN the like
period, 1892.
From R. G.. Dun & Co.'s Weekly Re-
view"
Better prospects and relief from none
| tary anxiety do not yet bring larger de-
mand for finished products. though large
| buying of pig iron, wool. leather, hides,
| cotton and other materials continue TO
show a growing belief that a general up
| ward movement in prices will come with
the replenishment of dealers stocks this
fall. Most prices are extremely low, so
that nothing more than an ordinary de-
mand would advance them. But bank
failures at New Orleans cause temporary
hesitation. crop returns indicate disap-
| pointment In some cotton and some
| spring wheat States. prices of corn and
oats make it Improbable to sell at pres
ent, the number of manufacturing works
and mines in operation does not gain, but
| rather decreases, reductions of wages are
somewhat numerous, occasionally resist
ed by strikes. and all these conditions
diminish for a time the buying power of
the people. While many think general inn
| provement cannot come until the election
has removed political uncertainties, 9th
ers expect soon TO see the result antici-
| pated in trade.
The weekly output of pig iron decreased
2957S tons in August, to 130,50 tons
against 2l1300 in November, a shrinkage
OF 40 per ceHt. Other works still have
| stopped since September began. Unsold
stocks increased 62,067 tons in August,
exclusive of those accommodating in the
hands on great steel companies. Strictly
not half the iron making or iron working
! capacity Is now employed, and the de-
\ mand for finished products does not grow.
but heavy speculative purchases of pic.
| especially from Southern works. have
sustained prices. If the extent of private
| concessions could be known, parhaps
there are less to secure orders than there
were two weeks ago. The output of Con-
nellsvflle coke was G5,297 tons weekly
| against 166, 600 October 8 last year. and
5,6i0 ovens are at work against 15.511
then, with 10000 workers now idle.
stocks grew steadily stronger until
Thursday. although earnings are not
stimulating. The average for railroad
stocks has risen slightly, and fer trusts
over 81 per share, notwithstanding much
realizing of profits, especially since the
failures In New Orleans. Confidence IN
lng forge. The few earning reported for
September 8fe 81 per cent larger than
last year, while the full report for Aug
l list shows at per cent less than Lest