The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-03-27
Ro1-tam sA

Rarely have markets sustained such
surprises as they have received of late
with so little loss. Foreign conditions
and n alarms, the collapse of the
iron ore combination, the destructive
floods in the Mississippi Valley, and the
decision of the Supreme Court against
railway associations. have been used to
the utmost, but not even in railroad stocks
has the result been important. We're ali
associations of railroads to cease, it would
yet be in the power of capital controlling
important lines to stop serious rate-cutting
if it chose. With confidence that better
times and larger business are coming.
men are less disposed every day to throw
| away good Investments, and the very
fact that prices Of products are low is
regarded as a guarantee against much
further decline. In all industries, also,
the number of mill and shops and hands
at work gradually Increases.
The railroads nave been subjected to so
much loss of late by cutting of rates, in
spite of associations. that the possibility
of open and unrestricted competition, in
stead Of agreements which restrict only
the more honest, may we'll have a sober
ing influence. The earnings for March
thus far, only 4 per cent. below last years
and IFS below those of 1892, onlpare not
linfavorably with the full returns for
1913 below those of 1892. Tonnage east
bound Is not quite S per cent. below last
years, and 6 per cent. below that of
1893, and a shade more business activity
would chanke all hat. Stocks were
heavily sold after tbs Supreme Court
decision and the withdrawal of some West
ern bonds from various associations, but
railway charges average a decline of only
81 per chare, showing that there are men
Of faith as wela as men of fear. In
dustrial and manufacturing stocks gener-
ally are stiff, in the belief that heavy pur-
chases of cheap materials WIN erasure pro-
fit when business moves forward.
The grain markets have lost without
reason the grain they made without rea-
are running out, but nobody believes
that there is coming a famine before
June. when the harvesting Of Southern
wheat af less than so cents, The price of
wheat is not easily advanced above eigh-
ty cents. Cotton was helped upward an
gain, although manufacturing is more
hopeful. Without change in prices goods
100000 pieces print cloths result in a
Speculation in wool has recorded larger
e s s'so5, 800 lbs. against Il. ssa5 ZIG int IN the Same same
weeks of 1885,. Much more than half is
for speculation, as nothing like the full
caDdcIty Ol I'LL - tttQlOfEd. americans
have also bought largely at London.
5000 bales already, 1t Is said, where the
market Is excited and has advanced 10
to Is per cent. With heavy supplies
here. these large imports, and new wool
coming in May. there may be found over
loaded dealers. Prices here are still adj
yancing, and of many kinds have risen
2 to 5 cents during the past month. The
wool manufacture is steadily Increasing |
but cautiously. as it is too early to an.
tfcfpate results from changes which may |
he made in duties.
Money markets are easy, London's NET
blIyfqg of 5000 shares Of stock balance
dScrease in Western and Southern 4
commerSial bills. The accumulated ex-
change will cover six weeks to come UNI
less impoSts materially increase. New |
York gained $750,D00 in currency from the
interior, where traders la to carry
part Of the goods absurdly ushed out of |
warehouse Domestic exchanges are
2.9 per cent. below last years, 26.6 per
below 1892. Failures for three weeks !
been S8,008, ~. against S12.S8S,6 14 III
7Ss6, $1I. 71,12l III 1895, and s16.061 SOL ins1Ss4
Manufacturing we're 81, 935, ISL against 81.
SEQ. 653 last year, and trading 81, 409;,f64
AGAINST sc. 1876. BAL last year. Failures FIR
the week have been 291 III the UnitedI