The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-10-16
THE BUSINESS OUTLOOK.


The activity in staple lines of merchandise
is less pronounced than a month ago. due TO
interior merchants having supplied their de-
manos for the time, a gradual increase OF the
territory included by the yeliow-fever quaran-
tine, the low price of cotton, q tendency In
the Missouri River Valley and spring wheat
States TO hold wheat for higher prices. and
10 farmers being busy with fall planting.
The drought Is not broken In Kansas, north
ern Missouri and Iowa, wheresrains have been
| light, but the outlook is not alarming. Good
| rains have broken the drought in Nebraska,
where the ground is ready FOR fall planting.
| Unreasonable weather has had an unfayorable
| influence on the distribution of merchandise
throughout the central wess: and at chicago
and ST. Louis sales have fallen off.
| Cotton is weak and lMc. lower than a year
ago on late estimates OF a 10000. 800 bale yield
against S,7u ., 900 bales in 1862. \ we'll m
| formed correspondent of 'Bradstreet's, AFTER
| extended personal Investigation. gives reason
for anticipating a much smaller yield than
trade estimates indicate.
The position of the cotton goods industry Is
| no more favorable, but woolien goods manu-
facturers report demand brisk. prices steady,
and an unwillingness by makers 70 accept
new orders at present quotations. Advances
for Bessemer pig iron and steel billets check
sales, but prices are firmly held. Some steel
| mills are not able 20 keep up with orders.
The domestic consumption of pig iron last
| month was extraordinarily heavy and promises
10 greatly stimulate production.
With the siackening off In the rate OF dis
tribation OF merchandise. the upward move.
ment OF prices IS CofrSspONultsiy SHctNSos 0AS
in this, the third week, In succession ihe
number of staples for which quotations are
lower is greater than those which are higher
or unchanged.
those for August both in amount and percent
age of gain, being unrivaled as to proportion
of gain shown. Total September earnings VI
l32 companies. operating Eearly loo,ooo miles u
road. aggregated $50, sl2. o4e. an increase over
September a year ago Of 81. 300. 600. or IA per
cent. This followed a gain n August Q. l-s
per cent. and OF as per cent. IN jury over i1s. =.
year. The heaviest gains are those shown ps
the Pacific, southwestern and granger COM
panies. wirl increases OF 80, ID and Is per cent,
respectively. The coal and southern roaas
alone. among American lines. show gains OF
less than 10 per cent. each. The only decrease
for nine months is that shown by the coal
roads. a fraction OF ! per cent. Heaviest gains
are those reported by the southwestern ana
Pacific groups. August net railway earnings
are no less favorable. net receipts OF leading
systems exceeding those of August a year ago
by p per cent, on a gain IN gross OF ID per
cent.
Bank clearings throughout the United States
this week aggregate ST. 600. 900, a decrease
of 6.5 per cent. as compared with last week.
but an increase Of S1.e per cent. compared with
the like week one year ago, 1875 per cent. as
compared with 1895. 37.6 per cent. contrasted
with 1894. +8 per cent. increase over 1885. l0I
per cent. increase over 1897. ano an increase or
Ills per cent. as compared with the second
week In October. 1921. When contrasted with
the like week in 1890 there IS a decrease of 81
per cent.
The New York stock marker rallied sharply
from its reaction on Wednesday. but has since
been duh, professional, and subject % bear at
tacks. Sugar is very weak and Chicago Gas
unsettled and without support Public interest
is at a low ebb and commission houses inactive.
London has both sold ana bought, but is selling
high-grade investments. Gold shipments are
checked by the unexpected steadiness Of en-
change and the action of the Bank of England
in advancing its discount rate to s per cent.
and raising the selling price of American gold
coin.
Wheat exports have again expanded. the
total for the present week being among the
largest on record. The total exports of wheat
-four as wheat this week from both coasts of
uhe United States aggregated 6.659, 100 bushels,
against 4.sS5.641 bushels last week, 4~.l5s,S17
bushels in this week a year ago. .. 409, 900 BUSH
els In 1895. LISP. 900 bushels in 1894, ,. 100, 900
bushels in 1898 and 500, 900 bushels In 1892.
Corn exports again make a small total, being
?. 224 900 bushels this week against ?. 100. 900
bushels last week, l, 7l1,000 bushels a year ago,
1850, 900 bushels in 1895, l3. 553 bushels in 1894,
!, 123, 900 bushels in 1923 and 7ol. 900 bushels in
1892.
[From r. C. Dun & Co.'S weekly Review."]
Foreign trade in September, the heavy in
crease in iron production and -nsumptio |
and the largest payments through clearing
houses ever known in October, are indications
which outweigh hesitation in some markets.
The increase in employment of labor has con-
tinued, with further accounts daily of works
opening, increasing force of hands, or raising
Wages, dld L YER punt NtSIC ClQd pro-
dsction can be tested it appears greater than
ever before. Exports of the chief products in
September amounted TO $4,000. AL in value
against $52, 693. 403 last year, and $50. 052, 269 in
1885. and indicate that all exports that month
exceeded imports of merchandise by about $685.
0O0, 900. October returns so far indicate an ex-
cess abotst as large. Efforts by the Bank
of England have delayed further gold exports,
but with a cotton movement rising, large ship
nents TO this side are deemed certain and
not distant. More gold, however, means less
just now than more iron.
The volume of payments through clearing
houses continues larger than in the best years
of prosperity. for the second week of October
l2I per cent. larger than In 1892. and the daily
average for the month has been So per cent
larger than in that year. and SO per cent.
larger than last year. Collections are re-
markedly good throughout most of the couu-
try. and western and central cities are bid
ding in tins market for paper. cutting down
loans of New York banks. though
the aggregate placed is not lessened. With
Paris exchange at the gold point. further
shipments of gold TO this country are thought
probable. Failures for the first week Of Octo-
Der were 50. os5. 557. manufacturing s97s.5sT and
trading 1858, $50, in all branches smaller than
for the same week in any previous year. Fall
fsres for the week have been 223 in the United
s .Rtes against S2S last year, and 36 In Canada
g pstust 40 last year. |