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

There has been no Improvement in
general trade this week, except in holt
Nashville, Charleston, Chattanooga, Gin
cinnati and Memphis the condition of
business is unchanged.
Thu tendency Of prices is more con-
spicuously downward, noticeabiy for
hides, leather. flour, wheat, corn. oats.
lively steady quotations are reported for
raw wool, print cloths. lumber, pork
and sugar. Coffee is higher. Many who
prices regard a reaction as likely, not
withstanding the outlook for greater
hrmness and higher. quotations during
current cereal year. The collapse or
impending dissolution of iron and steel
pools or combinations encourages a be-
range lower. This causes buyers to
ithhold orders. The demand for leath-
er and morocco has fallen off, and a
Dry goods are depressed by the large
stocks of print cloths in the hands of
manufacturers, and although some New
England woollen mills are well supplied
with orders, there is no revival in wool
len manufacturing. Some makers are
waiting for the goods market to start
November gross railroad earnings, as
expected. are the poorest for over two
years. Total November earnings of l5
companies e u aggreg rate w. o lSa' "a 1Saz a wb dc,
there was a gain of 6.3 per cent. over
November, 1894. The f~aliingSoff is heav-
r lest N a the , grsngsr IA and the ees5 ontb WESTERN
group. Only ene-hfth of all the roads
reporting show gains. Only one Pacific
company i reports ports an ua ln ! roaa ana sh o,sy
an increase. Total earnings of ll3 com
panies for eleven. months. OF the calendar
year aggregate $40S,6io,S4l, a gam OF ~
per cent. over a year ago, following an
increase in 1895 over 1894 of As per cent.
Bank clearings show the expected falling
off. amounting to 81, 065. 100000, or % per
6 per cent less than in the second week
of December, 1895. Compared with the
corresponding week in 1894 the gain is
about 4 per cent, but it is about 16 per
cent. when comparison is made with the
like week in 1898. Contrasted with the
corresponding period in 1892, when the
volume of business was large, this weeks
decrease amounts to q per cent. De-
creases are also shown when comparisons
are made with similar weeks in 1891 and
1890.
Investment securities are in fair de-
mand at New York, and the better class
of bonds display Improvement. The
speculative stock market has, however,
narrowed to small professional trading,
with limited fluctuations. The Presidents
message and the meeting of Congress
have caused q decrease of fears about the
Cuban situation, and the existence of a
9AAO4L ~ . 10 Ali IL
On prices. Exchange is higher on the
renewed firmness of the London money
market, and the making of loans on long
sterling is still a factor in the situation.
Exports of wheat flour included as
wheaD from both coasts of the United
States this week show a marked increase
as compared with preceding weeks and
corresponding weeks in preceding years,
amount ng to 4.222. ia bushels, contrasted
with 3.653.00O bushels last week, 2,45s, 900
bushels in the corresponding week last
year. 2.536, 600 bushels in the week two
years ago. 3,2l7.000 bushels three years
ago, and as compared with 3,277, 900 bushels
in the corresponding week of 1892. Elk
ports of Indian corn this week are also
heavy, amounting to 3,541 ,28S bushels.
twice as much as in the preceding week,
nearly 80 per cent. more than in the cor
responding week last year, and very much
more than in like weeks in three pre-
ceding years.
From r. a. Dun & Co.'S Weekly
Review, y
Approach of holidays and doubt about
the action of Congress put off further inn
provements until the new year. While in
dustries have gained in working force,
they are waiting for commensurate gain
IN demand and meanwhile are trying to
clear away embarrassraents which restrict
them. Speculation has been hating and
timid. There is no s~ober-minded fear of
foreign difficulty, but some nave succeed
t0 Ii ~ ihm4S lbdt SOlSf6CS might go
SO far beyond the Presidents prudent
message regarding Cuba as to embroiI this
country with Spain. Money is in album
dant supply, lending to London continues,
and there is nothing to cause less activity
in general business except that the rush
of orders deferred until after election has
not been continued, The volume of busi-
ness shown by clearings has been for the
week az per cent. smaller than last year,
and 21.2 per cent. smaller than in 1892.
Money is still accommodating, 81, $50. coo
having come in from the interior this
week, and rates are falling, much mill pa
per having been placed at less than 4 per
cent. The prospect of cheap money and
too much of it. for some time to come,
helps to cause that strong undertone
which prevent decline in stocks at all
proportioned to the ~shrinkage of earnings
or the vigor of speculative raids. Scanty
returns for December embrace so bad a
report of st. Paul that they fall 1914 per
cent. below those of 1892, and earnings on
United States roads amounting to $37, $685.
266 in November were 1919 per cent. less
than last year. and 1z.2 less than i'm 1892.
East bound tonnage is also smaller than
in either of those years, but the average
OF stocks closes only SIS cents per share
lower than a week ago.
Textile industries are working a larger
force than in October, but there is not
much evidence of larger demand, and
some kinds of goods are accommodating.
As raw cotton IS lower, some yielding in
prices of staples IS expected, and buying
is on that account more restricted. a few
qualities of goods having 81 Chilly de-
clined. Print cloths are weak in one
with enormous stocks. Woolen goods are
not in better demand, and there is general
indisposition to make commitments
ahead. Sales of wool. in two weeks 14,3TS,-
900 lbs. aga INST II, 999, 200 last year and 10
So, 700 in 1892, are this year largely between
traders, as the mills find at present little
encouragement to buy, and London sales
are a shade weaker. Quotations are not
changed, though more frequent conces-
sions are reported.
3 were only "a, sos, 236 against Is. lO4. S3f last
year. "a, 1885, $50 in 1894, and s4,761.409 in
1893. Manufacturing were 81. sg7. 1886 against
81, 157,760 last year. and 8, 427, Ais in 1894.
and trading were $2,612, 40 aga INST 81, 1872
81 last year and 81, 401 ,451 IN 1894. Failures
for the week have been $50 in the United
States against 1873 last year, and 43 in
Canada AGAINST "a last wear