The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-11-20
THE BUSINESS OUTLOOK.

lrIOAa q. " INV
All markets and all industries are work,
| ing oward the period of thanksgiving; OF
| stock kim and of holidays. Coider
weather has done much to accelerate re-
tail trade, so greatly delayed IN many
lines by unusually mild and open weather.
In spite of this delay, and the idea tnat II
may render prices more favorable 10 puyee
ers, dispatches today from an parts OF
the West and South snow a large s4iulae
South binders and stock speculation mere
does not swell clearings as II did i've
| years age the payments through ciedIins
| houses are for the month only 10 per cent.
| less than in 1892, and for the week OUTSIDE
New York L. per cent. larger. The pro-
ducing force increases on the Whoie' ahu
many manufacturers are unable 70 take
| all the orders offered, while othefs are
committed as far ahead as they are Wlihns
to be. The output IN seTeral great y
dustries is considerably the largest ever
known, and confidence in Vet greater
business next year is unabated- Heslta-
ton in speculative markets Is IN parl pes
! cause an immense capital has been turned
from them to investment IN productive
The excess of merchandise exports over
Imports in October made the balance
$l64. 93S, 442 for three months and, AFTER az
lowance for gold and silver movement,
there still appears due this country MOL
9O4. $50. with INTERPRETATIONS smaller than
in recent years and interest ana dlV1aenaS
due abroad much reduced by foreign safes
of securities during and since the pans.
The heavy unpaid balance must be IN
creased by large exports during tae next
four months as the demand TOT bfead-
stnffs and cotton increases. Ine pros
nect that considerable gold must be moved
mas a weakening influence on foreign e1-
change, and reported sales OF STOCKS py
Europe, 20.000 shares for the week. would
not balance half a days difference on
merchandise account. Yet the stock mar
ket has been inactive, with little improve
ment in prices, and speculation IS NANNY
occupied with reports about gas assocla-
TONS.
Wheat has advanced a cent d1ring. the
week, and small fluctuations have been
due to reports about Argentina rather
than to the heaviest exports ever Known.
Atlantic exports, -four included. have been
in three weeks of November 9.7s9. S69 bush
els against e,052, I06 last year, and in the
crop year thus far over S6,000.e00 bushels,
while western receipts have been IN three
weeks q. 20S. $50 bushels against l4,ls6 sSS
last wear. Corn exports have been 7,ol0,-
041 bushels against 6,441. CSC last year. Cot
ton declined to 5.81 cents, with heavy re-
ceipts, but closed at 5.8I, with better
| foreign demand, and with frosts which
have lesssned the prospect OF a heaVy
The wooden market is embarrassed by
the delay OF winter weather which retardS
| orders from clothiers, although most
works ave enough for some time ahead,
and while cold weather and active retail
trade would quickly bring a change,
prices of wool are so high hat some mills
have stopped part of their looms. Cases
are mentioned Of mills which could realize
a 3IOllL VI SAtJ,UOV IL JotO,DVO ~ GAtlAt liz
| wool they hold, but can expect none by
manufacturing at current prices.
New York banks have received from the
interior about s., 1904 00 more money than
they have sent out. and find commercial
bills unusually scarce, owing to prompt
ness of collections throughout the coun-
| hither instead of borrowers, rates are low
and gold imports not especially desired.
Failures for the month have been $500
424 against s., T25, 473 last year, manufac-
turing 81. $50, 025 against 81 ,S40,2S2 last year,
and trading $3,ozS, 5U5, against S2,624,23S last
year. Failures for the week have been
year, and 81 in Canada against 40 last
year.
(From Bradstreet's "State of Trade."o
There is a moderate Improvement in
| staple prices and in distribution of wooden
| goods, shoes, hats and hardware in the
Kansas City and Omaha. IN South Caro-
lima, Tennessee and Louisiana jobbers re-
| port a moderate revival in demand from
! interior merchants, which represents some
of the business delayed by yellow fever
| guarantees. Trade reports from Georgia
and Texas are quite irregular. Some cot
ton planters are compelled to sell cotton
at a loss to meet advances made earlier
in the season and have little or no surplus
with which to u merchandise. Others,
notably in Texas, continue to hold cotton.
| which delays mercantile collections and in
some sections has an unfaVorable in
, fiuence. Colder weather northwest and in
I ne cenITdi MISSISSIPPI anu ll0SOQli 1AlNSi
| valleys have helped retail trade. Manu-
! fact.lrers of iron, steel. agricultural inn
plenents, stoves, railway cars and wooden
| goods report an active demand and large
| output. although the appearance of specu-
| lative steel has resulted in weakening the
| price of billets and a like tendency on the
part of Bessemer pig iron.
Bank clearings for six business days
ending with November Is amount to ST.
2Ts, 600, oeo. a decrease Of 5 per cent. COM
pared with last week, but an increase of
| nearly A per cent. compared with the like
week last year, 10 per cent. more than in
1Sq5, nearly 2s per cent. more than in the
| cent. more than in 1898 and 2 per cent.
more than in the like period in 1891. The
! weeks total, however; is 4 per cent.
| smaller thar in 1892 and 10 per cent. less
! than in the corresponding period in 1880:
Favorable gross railway earnings in the
third quarter foreshadowed more satisfac-
to,y net returns. Reports of 126 railroad
com panies. comprising nearly 20 per cent.
of the railroad earning capacity of the
| country. show better net returns than
gross. pointing to the effect of long con-
| finued economies by railroad managers.
| Total gross earnings for nine months .ag-
~gregate- $685.. 434. o55, and net earnings
per cent, but an increase in net of nearly
| ii per cent. The gain the first half of 1897
over 1896 was less than cne-tenth OF per
| so that the favorable nature in operations
| in the third quarter may be inferred.
low ,ogg gains in 1895 over 1895 of I.s per cent.
and three-tenths of / per cent. in gross
and net respectively, and 1895. IN turn,
showed a good increase over 1894. Evil
| IDENTIFY the railroads have showed a steady
return to more profitable conditions. Only
one group-the coalers-show a decrease
in gross earnings from the total for nine
| months a year ago, but a gain of / per
4 cent. in net. In every other group of
| American roads the position is materially
| better than last year, heaviest gains in
net being shown by the Pacific granger
4 and southern companies in the order