The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-01-09

Total bank clearings for the week ending
WIN january I (one a SHORTY amount tt
$li.l4o, 900, COG. an increase over the total ii
the preceding week, also one day short
ofs@ per cent, an extraordinarily heavy
gain Cearings for the past week are alsc
noteworthy for being only Z per cent. less
than the corresponding total in the first
week OF Jaast1ary. 1896, which included six
fun business days. As contrasted with the
first week in January, 1895, this weeks
clearings show q gain of 10 per cent, and
they are nearly "A per cent. larger than in
the corresponding period of 1894, while
only IA per cent. less h the very heavy
total In the like week of 1893, five months
before the panic in that year.
N price movement has had little sig.
l~riticance, advances having been shown in
hides. which have become relatively
scarce, turpentine, coffee. wheat. oats and
tin. Firm and practically unchanged quo
tations have been recorded for wheat
Hour, pork, uga cotton, print cloths and
quotations for Southern pig from lard and
corn.
There is no change in the wool market
manufacturers declining to bay until they
has been shown by boots and shoes since
the first of the week. Iron n steel
have been disappointing, as
evidently anticipate a further reduction
week has been marked by exceptionally
heavy orders of southern pig iron for
export. Cotton goods remain as depressed
and the market Is as unsatisfactory as
heretofore, with lower prices expected.
Total stocks of available wheat, both
coasts, United States and Canada, Janu-
airy /, are the smallest for any like date
for fl years, n supplies of wheat
afioat for and in Europe on the LIST in
slant are similarly the smallest Except
for January ]. 1880. for five years. The
past six months of the cereal year show
a net Increase of wheat stocks, United
= 500 D@-- a. - 1~-- 49,. * AAh nn1
bushels. the smallest like increase since
these records AVE been compiled, only
one-third of the total net decrease in
this country n Canada during the first
six months of 1896. Earlier wheat crop
reports by northwestern interests that
the export surplus of American wheat
would be exhausted by January l, 1897,
for the cereal year ending June 90, 1897,
the export surplus, including reserves for
July l next, amount to 100, 600, 900 bushels,
and that wheat continues to go abroad
weekly in spite of the calculations and
estimates that we have no more to spare.
A belief that the Cuban agitation in Com
gress has subsidized and that better railroad
earnings and improvement tn general bust
ness may be expected, gives a strong I'M
dertone TO speculation in tine New York
stock market. Transactions are, however,
confined to the Wall street professionals,
and the factors mentioned have not pro-
duced any visible public interest. The
Il1i kGL Is, INdTfOW, Wtltl
small variations. A reduction of the Della
ware and Hudson dividend rate from 7 to
5 per e was the chief incident. but lis
influence was limited to a break in the
stock itself, with some bearish attacks
on either anthracite stocks. Foreign ex-
change is firm and higher at 4.S7 for de-
mand sterling. in sympathy with a re-
newed advance In money at London.
Railroad earnings are making better
comparisons uhan for some time East. The
earnings Of sixty railroads for December,
1896, aggregate SIS, 1888 1858, a decrease of only
l per cent. from the like total in Decem-
Der, 1896, The falling off in November,
from a year before, was 10 per cent. and
fayors still better comparisons for Janu-
airy,
exports of wheat flour included as
States this week amount to 3.1os,eSs BUSH
els, as compared with 2,707. 600 bushels last
week, 3,471, 900 bushels In the first week of
January, 1896: 2;5s7, goo bushels is in 2 the cor
in the like week of 1894, and as contrasted
with 3,30S, 900 bushels in the like period
of 1898. Total exports Of Indian corn his
stitute the largest weeks aggregate ship
ments reported. Last week the total
was 2.742,0 900 bushels and in the week one
first week of january, 1895. the aggregate
was l ,067. 900 bushels and in the like week
of 1894 it was !, $4,000 bushels, while
IN Inc CORRESPONDENCE week IN 1875 the
total was $4,000 bushels.
From R. G. Dun & Co.'S Weekly Re-
view"
The year 1897 begins with one clear ad-
vantage; the past year has swept out
of the way a great number Of unseund
which in any time of activity
aye been dangerous to business.
OF the 1926 commercial and banking
failures in 1896, with liabilities of $276,-
21h T4q q largo share rpnraSnutp1 PrjnnlinO
losses in previous years, or the violence
OF speculative storms in 1885 or the first
half of 1896, while thousands more re-
suited from the fury of the political tor
ing to $50. 7I8, 915 during the year averaged
1886, 1856 each, and were 145 per e larger
than in 1885.
Commercial failures amounted to 1926
096, s34, a little over 81. 100000 having been
added by the last day of the year, but
the average of liabilities, S14, 1892, was
smaller than in some years of great
aged SIS. AIS each, increasing 1873 per cent.
over 1895, while manufacturing failures
averaged $28, sos each, and increased "a
per cent, and trading failures increased
Over four-fifths of the increase in
manufacturing and trading failures was
in lumber manufacturing, ITO per cent;
dry goods, so; wooden manufacturing, 16l;
trade, 20; shoe trade, 81; leather
and shoe manufacturers, 167; grocery
trade, 80; machinery, 20; milling, III; fur
80, and printing, 81 per cent. In
ten other branches, the increase was
the unc1assified manufacturing and trad
failures, the liabilities were smaller
than in 1896
While banking failures have not ceased
at the West, apprehension abou them has
wholly subsidized, and no serious in
upon general trade is now expect
ed. Many sound concerns were doubtless
caught by the epidemic, but practically all
the important failures are traced to Dis
regard of law and of banking sense at Pc
RODS somewhat distant. 1t is felt at the
West that all business will be the sounder
after it's purging, and the return of money
to New York has exceeded shipments to
the interior by 1000 900 for the week.
by great corporations make money abund-
and banks n savings banks are
seeking good paper, taking some formerly
sold at Chicago. Foreign exchange has
risen a little. as large bills are about to
Merchandise exports were II per
over last year, while imports were
per cent. less than for the same week.
Speculative markets have been dull.
After rising about so cents pei, share and
4 dIr IF 5fuI taIk s. abent W erba en af Wa eg re-
ton, and by reduction Of the dividend on
The Delaware and Hudson. Earnings re-
ported for December amount to $51,1 2 ,905
than in 1895, and SO per cent less
In 1892, but returns for the fourth
week were the best and snow general
gains. Chicago eastbound Fonnags IN
live weeks ending January 2, was 34, sos
417,625 last year, q decrease of q
moment, as heavy annual settlements fall
ali in previous years, and the decrease
with last year was 8.8 and