The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1896-04-04
THE BUSINESS OUTLOOK.


(From Bradstreet's Estate of Trade.")
Stormy weather at the northwest. con-
tinued restriction Of distribution of staple
merchandise and unsatisfactory mercan-
tile collections continue to be the Lead
ing characteristics of general trade. The
conspicuous change is in the steel and
iron markets. The formation Of a pool
of manufacturers Of steel to regulate
production and maintain prices results
in advance of 50 per ton in quotations for
steel billets and SIPS per ton for BESSIE
mer pig iron: a corresponding stlmulus
is given quotations for other forms OF
iron and steel. Whereas leading metal
markets were dull and oppressed a week
ago, activity Is now reported With a pros
peel for further advances. THIS must
naturally end to stimulate kindred M
dustries. The movement in steel and iron
markets during the next rev Weehs VIII
Additional favorable features are reports
that at Baltimore the quarters general
trade has been the DEL ioT Years; 4, l .pae
volume of business at P.ttsburg; nal az
Kansas City distribution Of general mer-
chandise is fair (but commission houses
signmants which are slow Of sale), and
thai demand for dress woolens. autumn
delivery, has been sufficient TO stimulate
manufacturers to buy raw material more
freely
The New York stock market shows an
improved tone and slightly better prices
for railroad shares IN the opening OIL
spring and its anticipated effect on busl-
ness generally. Public interest i'm the
market is still small, and covering by
shorts has supplied the lack OF buying
power. Securities of the corn carrying
railroads are better IN statements that
| last years crop lis beginning to move.
The speculative feature was the extra
ordinary manipulation of American To-
-, ~ ntrf v o. thn 81 don q no.
ton of a 20 per cent. scrip dividend.
Foreign exchange is firm in spite Of slow
inquiry and the appearance of loan bills:
Demand sterling is 4S9, and visions Of
gold shipments have been current all
the week
In addition to advances for iron and
steel and products thereof. III In
| are higher. maintaing the ten
dency Of week ago: Wheat
| -four. cotton. wool, print cloths
and rye are substantially unchanged.
but oats, barley, pork, lard, butter ana
cheese are all lower, as is coffee. The
movement of dry goods from jobbers'
hands has not improved.
March bank ciearings are in contrast
to those of February, when the total was
20 per cent. larger than the correspond
ing total one year ago. The March ag-
gregate is $4,108, 200, 600, only l per cent.
more than the total for February, and
an increase over the March total a year
ago Oh Ol4y az per c61ll., CUIftFdSltQ Will
March, 1893, the falling off is "a per cent. !;
while it is 10 per cent. smaller than the
total for January, 1896. Most favorable
clearings reports are from southern
cities. 4 number Of the larger centres
furnish smaller totals than in March a
year ago, notably Boston, Chicago, Phila-
delphia, st. Louis. Gains are shown at
Baltimore. Buffalo, Pfttsburg, Cleveland,
New York, relatively the heaviest being
at Omaha. The weeks clearings amount
to $3.50, coo, 600, an increase of about 6 per
cent. over last week, and a decrease of
one year ago. The increase in the weeks
clearings over the total in 1894 is less
than one-half of n per cent4
From R. G. Dun & Co.'S weekly Re
view.')
The regular quarterly statement of
failures shows 4.OS1 with liabilities of
57,425, 1876, against 1892 last year, with liza
bilsties= of SAT, 813, 6SS, and 1904 III the same
quarter of 1884, with Liabilities of $64.l27.-
S33. TIN average liabilities We're $14, 246
against S12.5T last year, and $4,000 in
1894. Manufacturing ia lures were S35
s2s, 5o7, s2s against so, 22s. ss1 last year, IN
crease 1862 per cent, but the decrease in
comparison with 1894 is 1854 per cent.
Trading failures were 3.s1s. with liabilities
Increase 209 per cent, but in comparison
VIII 1894 the decrease is 6.S per cent. The
ratio OF defaulted liabilities to paments
through clearing houses was S4.b per
81, 0G9, the average for the previous ten
years having been 1921, and the average
per firm in business was $d7.48, against
$3S.64 for the previous ten years. The
main increase over last year has been
in manufacturing failures in New York,
Pennsylvania, Ohio and Kentucky, and in
trading failures in Texas and Minnesota,
owing to TWO recent large defaults. Other
commercial failures are also larger than
last year, practically all the increase be-
ing at the South. Banking failures have
been 81 against IS last year. but with La
bilit.es of only 81, Isl, 972 against SIC, 482. 5S7
last year. More than half the entire
banking defaults were in Northern States
west Of the Mississippi, and 1t was nearly
so last year.
The Improvement expected with spring
weather begins, though in some branches
of business scarcely visible. AS con-
sumers make spring purchases they must
lessen stocks and compel buying. The
stocks taken in advance of consumers.
demands last summer have been distri-
buted far more slowly than was expected,
but months of waiting have helped to
lessen the load which 1t is hoped spring
buying will clear away The backward
season has been an hindrance, and the
number of hand unemployed in important
industries, and the low prices of farm pro-
duets. Apprehensions Of foreign or finan-
cial difficulties have hindered, but are now
scarcely felt. Gold exports are rumored,
but at this season are SO far natural that
they have no such power to cause alarm
as they had in winter.