The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-06-13
fHE BUSINESS OUTLOOK.
(From r. G. Dun & Co.'S weekly Re-
yieW.0l

titious prices made for wheat and cotton
meant no good except for individuals
accord with actual relations of demand
and supply only conforms to conditions
which have been well known for months.
There are bankers who have risked
money on carrying wheat or cotton and
are sorry. The attack on stocks on
"Wednesday was so plainly artificial that
ats influence passed with the day, and
neither in foreign relations nor in do
mestie business was there anything to
| justify alarm.
The government report as to wheat in
dicated a much smaller yield than any
come so much the rule that the report
mad no real influence, and the principal
effect was the serious depression caused
by large sales in anticipa ton of the re-
port, which seemed TO be Thoroughly
known in advance to some spectators.
While Atlantic exports for the week
We're 1,5SS.l5S bushels, flour Included.
against only SO9,5S9 last year. the COM
parison is obviously exceptional and not
Significant, while the receipts at West
ern ports of 2,429. 345 bushels, against
l.Ss6,2So last year, show persistency Of
conditions which have governed the
movement during the whole year. While
other crop reports differ widely from
those of the department, all agree in IN
dicating a liberal yield compared with
that OF last year, which all now know
was quite large enough. The govern
ment estimate as to cotton was unex-
pectedly favorable, and has caused a
decline Of more than half a cent in a
single week, but it is only just to say
that some reaction from artificial prices
would have come earlier if information
much more reliable than tina of the
government had not been persistently
The raid on stocks. which caused SO
snarp a aepressior on Wednesday, served
a double asie p1rposs t show that eur-
many had supposed, but also tina sub
stantial buying in many stocks was
closer behind current quotations than had
Deen supposed. The back log is the be-
lief, TO which Mr.. Morgan gave express
sion. that European investors will buy
largely of American securieties as soon
prosperity here are clearly ESTABLISHED.
Railroads stocks closed ON. Wednesday
Sl.oS per share over. but on Friday only
Trust stocks closed ON Wednesday $1.O6
lower, but on Friday only 10 cents lower.
The splitting of stocks at no time partook
reasons for apprehension did not appear.
Currency continues to come hither from
M the in oasx J. AZ so9 @o s g So2;eoo dur during ggsrdt6hss
this week; and there was not more. but
actually less distrust as respects CONNER
cial loans, of which the offerings con-
tinue small. Railroad earnings for the
first week of June were Al per cent.
larger. than last year, though T.2 per
cent. less than IN 1883. and railroad tom
1l1So 1ot OLtAt0 SAiIdSO, do LII
four weeks 2O4. SIG, against 177, 06S last year,
and 1877, 94S In 1885.
1t IS not the time to look for marked
thing that can be said of them is that
meme have as yet been seriously disturbed
by threatened labor difficulties. 1t seems
may be ~averted, except. perhaps. the
controversy about wages of iron puddlers
and t%in-plate workers. the textile MANI
The accumulation. of cotton goods con-
tinues. print cloths have declined to
the lowest point ever reached. and a gem
eral Stoppage to relieve the market is
expected. Sales of wool in two weeks
of June have gone only 5,S23,50o lbs.
against z, 5G1 965 last year, and no gain is
expected in the manufacture for some
time to come
Failures for the first week of June
showed liabilities of s2,21S,717 against s10,-
Manufacturing were 1868, $40 against s4s2.-
4ss exclusive .,zs Of f,o the C 5sa1 Go last last
Sl,20S, 145, against 81 12s, $50 last year, and
s1,ST2,s61 in 1894. Failures for the week
a haTs bs ST l sas ig the and dn y n c sratss
against q last year.
From Bradstreet's State of Trade"
There is little or no effort to push
business at q period of so much uncer-
tainty as to the precise terms of the
financial planks to be adopted by the
great political parties in national COM
ventioR The general merchandise move
ment continues as dull and conservative
as heretofore, retailers, with few ex-
ceptions, buying only for immediate ne
cessities. Mercantile collections continue
slow and unsatisfactory, and there is no
gain in the cotton, wooden goods, iron
or steel industries.
Western SPECTATORS are buying wool
above a parity with prices offered from
the east. There is little likelihood of
L. L. - g. -L.l- 49,
machinery is idle. Nearly all branches
of dry goods are somewhat depressed.
raw material. The contest continues
consumers. Pool prices for billets are
maintained, but brokers are offering steel
$50 under pool prices. Pig iron pro-
duction declined about 81 900 tons dur
ing May, stocks increasing less than
1900 tons.
Gross railroad earnings in May were
better than expected, in view of dun
trade and decreased bank clearines.
ago, whereas clearings show a heavy
decrease. Bank csearings reflect bust
ness done in part in preceding weeks or
months, whereas railroad earnings indi-
cate spot business. Total earnings of
100 railroads. with SO, 1000 miles of track.
aggregated $36, nj, 900 in May, a gain over
May q year ago of "a per cent, follow
1924. Of 65 per cent.
The total volume of bank clearings in
the United States for six business DAYS
ending with June II. based on official re-
turns teiegraphed to Bradstreet's, is $685.
g0c, coo. or 81 per cent, less than last week
SIS per cent. less than in the correspond,
ing week of 1895, but 12.6 per cent. more
than in the second week of June. 1894
The weeks decrease, as compared with
the corresponding period in 1893. is 81 per
cent, and as mpared with the like total
In 1892, the falling off this week is 17.6 per
cent.
The New York stock market is steady
in tone. but is waiting anxiously for the
decision of the st. Louis Convention on
the currency. Prices, however, have re-
covered from a sharp depression. caused
by unfounded rumors of a Presidential
message son Cub Reports that a gold
standard platform might be expected at
st. Louis stimulated a little foreign buy
irg. The adjournment of Congress and the
favorable crop report have also tended To
sustain the market, which is narrow and
professional and a waiting one. Gold ex-
ports for the week are 50. 100, 900, of which
81 ,sp0,099 goes out today. Exchange mas
been steady at 1881 for demand sterling.
So far as the movement of prices is con-
cerned, the contrast with last week lies in
advances for wheat flour, lard, sugar. pet-
roleum and tobacco. Decreases in recent
weeks are followed by still lower prices
for. wheat, Indian corn. oats. pork, cotton
and print cloths. Practically unchanged
nquotations are announced for leather. lurn-
Ber, live stock and coffee. Wool. which Is
mot firm, is nor1inally unchanged.
"
MEM DI1RI S