The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-02-13

TIL recent reduction in the price OF
steel billets of SIS q ton while rails were
reduced only 50 ~reshadow anotnef =
the pool. The latter finds prices from -
to SO lower than last week. One effect
| will be to stimulate exports of rails, de-
| mand for domestic Bessemer pig iron ana
for ore, and consumption of iron and
steel generally. There is a moderate IN
| crease in demand for pig IRON at Fits
| burg, and purchases have been made by
| st. Louis stove makers. CONSIDERABLE &C
tivity is reported in henlock leather. for
| which the price is higher, and american
| purchases of wool at the late London
| sale amount to 5000 bales, the heaviest
| total at any one such sale since the specu-
| lative buying there by Americans prior
| to the going into effect of the Mckinney
tariff. !,
Memphis reports revived interest IN
shoes and clothing. and Birmingham ana
Jacksonville a moderate increase IN the
volume of trade as spring approaches.
Louisville collections have improved, ana
orders for spring goods at st. Louis nave
increased. Chicago dry goods lobbers re-
port only a moderate gain, but at 81.
Paul sales of dry goods, shoes, groceries,
hardware, drugs and millinery are the
most encouraging for any week thus lar
this year.
AT most other, among more Important.
Western and Central Western cities trade
remains quiet and unchanged, with little
| Omaha reports business dull, and at Gal
weston. where Distribution of merchan-
disc has been fairly active. the reverse IS
tory at Cleveland, ard Charleston advises
tina collections are falling behind.
The moysment Ct prices D s Is on the ne
those for print cloths. leather and Bes-
semer pig iron, being reported for tur-
pentine. lead, zinc and sugar. Firm and
flour, Wheat, pork, lard, coffee. petroleum,
copper and for steel billets. while in adj
dition to lower prices for steel rails are
those for indian corn and oats and cot-
ton.
January gross railway earnings reflect
the quieter trade in that month than IN
reduced grain tonnage and severe storms
in the northwest. Every group of
American roads shows a falling of from
airy are few and small, the LARGEST being
only slightly in excess of $50 .000, while
seventeen systems show decreases in ex-
from January a year ago are reported by
the Pacific and range groups. while
smaller losses are by the Southwestern
IA ia ra ag : om mani for ora. January ag-
gregate S34, $50, S27, a falling off of 6.S per
cent from a year ago. compared with a
December, 1895. and 10 per cent. in No
vember from the total in that month a
year before. January earnings 1896 in
creased lib per cent. over January, 1895.
tNANNA OcN@ aA4sN0 +o-c y OC4ASs Az
January over a year ago
Gross and net returns of leading rail-
roads for the calendar year 1896 show a
Of 1895. Total gross receipts of seventy
companies give a total of s72e. $50. 400 for
1896, q falling off of only about s., 0G0, 900,
While VI fg0 net aarn 2 : ! per eent,; s5sSl oss l Sc
a decrease of nine-tenths of / per cent.
from the total in the preceding year.
For December, gross earnings fell of 2
NOR cont xr1ilo moi 40 80 v,orr .7aar1a-A7
LIB per cent. from those for 1895.
Industrial shares in the New York
stock market have been depressed by the
investigation of trusts by a New York
based on it. Anthracite coal shares are
inclined to weakness on the continued
unfavorable- situation of the coal trade.
The railroad list has been generally firm
and bonds strong, with increased buying
of speculative issues. though the whole
market is heavy at the close of the week.
IN sympathy with London, which is de-
pressed by the Cretan complications.
Foreign exchange is dull and firm at
4.s6@4.S6A for demand sterling.
Exports Of wheat (fiour included as
wheat) from both coasts of the United
States. and from st. John, N. B., amount
to 2,051, 345 bushels from February s to
February 10, inclusive (the week being
one day short)., as compared with 3,16S.-
COO bushels last week. 2.71S,000 bushels in
the week a year ago, 2,572,009 bushels in
the week two years ago, zoos. 900 bushels
three years ago, and as contrasted with
1880. 600 bushels in the corresponding week
of 1888. Exports of indian corn during
The same period show a very large gain,
amounting to 4,169,27 4 bushels, as com
pared with 1869. 600 bushels last week,
8 ,143. 000 bushe in the week a year ago,
562,0 COO bushels in the week two years ago.
l 500. 900 ush three years ago, and as
contrasted with 712, 600 bushels in the
corresponding week of 1893.
From R. G.. Dun & Co.'S weekly Re-
view
No other event of the week approaches
in Importance the disruption of the steel
rail pool. In two days after 1t. a greater
tonnage of rail was probably purchased
thar the entire production last year, re-
ported as $780, 600 tons, and instead of SIS
in December, and S25 in January, SIT is
now the price at which works east and
west are seeking orders, the Carnegie
Company ever selling at SIT Chicago de-
livery. These sales will employ many
thousands hands, with an important de-
crease in the cost of track laying or re-
n is the result that reconstruction of
the billet pool will be impossible, as lone
as the contest over rails continues, and
the manufacture of structural forms.
bars, rods. wire, nails, tin plates, and
many other products, has a chance to
secure cheap material. In the near flu
ture, also, is the struggle between the
two great companies producing Mesabi
-lfun l. OllC dlilCd VIII tlS III 0IGGl
and the other with the Carnegie Com
pany, which is expected to bring about
lower prices for ore, n to push many
mines to their utmost capacity. But in
the war of rival interests, wages are al
ready reduced by some large concerns.
Another event of influence is the pur-
chase of 10000 pieces of print cloths by
N. c. D. Borden at 2.56 cents, which has
already caused an advance to 2.69 cents,
with d stronger tone for prints and other
cotton goods. The moral influence of
such a purchase, manifesting confidence
in the future, is apt to be great. As the
contract to shut down part time many
mills producing print cloths is going into
effect, the productive capacity and wages
of operatives will be for a time reduced,
but If a demand of raiders to replenish
stocks is started, the effect may be alto
gether beneficial. The wooden industry
also meets an increased demand for low
and Medium goods. and a dozen more
mills have started against three stopping
for various reasons. Clay mixtures are
reduced to Is cents, with other prices
maintained. Fs%gsA
While large events are affecting all
American Industries, the stock market is
principally anxious about what may hap
pen between Greece and Crete. and prices
have gradually yielded, the average for
railroads 40 cents per share and trusts
81. 2S per share. Earnings for the first
week of February were larger than last
amount in the United States to, S31. 721. 1863,
being IA per cent less than last year,
and CT per cent. less than. in 1882. Prob
ably the influence Of speculation in trusts
affects the stock market materially. The
volume of railway traffic is in tonnage
larger than last year, and considerably
larger than in 1893. Clearing House pay
80 Ar~ < A narEnor 1 r4a f1,o- 49,