The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-12-11
The BUSINESS OUTLOOK.
IErdrn Rradstreat.s state Of Trade ]

4 ldSI Week.. ODDCiS ett@Q Cf'
ever, report a steadily increasing ana IN
some sections very active business IN
holiday goods. groceries ana klhureu
products. Reports from the south con-
tinue, as a whole, very good, with
specially favorable accounts from New
Orleans, Atlanta, Nashville and the cen
generally very satisfactory, in spite OF
the low price OF cotton. Favorable re-
ports come from Chicago. Kansas City,
st. Louis and st. Paul, in the central
west and northwest, while the Pacific
coast notes a heavy increase in trade,
present and contingent. based upon en-
larged Alaskan demand. San Francisco
reports the wheat crop improved by re-
cent rains, with conservative estimates
pointing to a yield of SIC, 900 tons. General
| export trade on the coast is very heavy.
The price situation is one of sustained
and even aggressive strength. The index
number of ninety-eight leading staples
showed q peTceptible- increase during the
month of November and a further inl-
provement is indicated this week. Wheat
is higher, partly on improved statlstlcal
position, but largely in sympathy with the
prices Is cents per bushel in that market
within a week. All other cereals have
~sympathized with wheat and coIee, cop
per, cotton, dairy products, leaf tobacco
and raw sugar are also among the prom
inent staples which have been enhanced
in value. The decreases have been rev
and slight, pig iron being most prominent,
owing to a Sigh shading at EittSDurg,
| with sympathetic weakness at other
| points, on an immense production. Talk
| of a pool to control production has stiff
fened prices of wire and nails. ~Steadiness
| has been q feature of the price OF pork,
| lard and wool.
The railroad interests of the country are
enjoying prosperous times. For the month
of November they show the heaviest gam.
in amount and percentage reported in any
month for years past. Large increases are
a feature, and the tendency toward gains
| is almost unvarying. The total earnings
1 0f 1nf pnndS for fhn mOn1n l1lCf closed
| amount to about so, 600, 600, q gain OF over
| 49, 400, 600, or q per cent, as compared WIN
| November a year ago. The next pest gam
to that reported in November was noted
in September, II per cent, and the pres
ent gain is larger than any preceding gain
or loss for five years past Ine Pac.hc
and Southwestern roads have lone reiao
lively best. with gains of, respectively, AZ
and 30 per cent, but the angerS and
Central-W Western roads repor increases IN
| excess of % per CEN. The total earnings
of 101 railroads for eleven months this
| year aggregate over $i56, 000, 001, an increase
| over last year of & per cent, following a
gain last year on leading roads OF 2 per
cent. over 1895. The PACING ROADS MAKE
the best showing for the eleven months
| period. with a gain of Il per cent, While
the coal roads report the smallest in
crease, only about 2 per cent.
Bank clearingS are again very heavy,
the total at II cities for the past week ag-
eregating 81, 1852, 600, 600, Il gain OF 2 per
cent. over last week, OF % per cent. over
the week OIL Il year dSo, VI oA.o pei Cte
over 1894 and Of p per cent. over 1893.
Compared with the year 1892. when clear
ings approached the maximum of recent
years, the decrease is only 81 per cent.
ia per cent.
Stock values at New York have ad-
vanced during the week with increasing
public interest in speculation, though pro-
fessionai manipulatiye influences nave
been very apparent. Among the current
bullish factors the Presidents treatment
Nf the 11rhdn nnpStiDn the increases IN
railroad earnings, rumors of dividends on
a number of stocks and, above all, the ac-
nave 5ixsty b eea e ssnspgan ol Ire R1au in nI bo J
has been on a very large scale, the buying
demand caused by the superabundance OF
idle funds and the approach of the Janu-
airy interest disbursements having turned
largely to the bonds of r~eorganized rail-
roads.
[F'rom R. G. Dun & Co.'s weekly Re
vieW."1
The opening of Congress, with the an
nual message and reports, has not dis
couraged usines as some predicted, but
all speculative markets are stronger than
d week ago. The productive industries,
even in the season usually about the dull
est of the year as to new orders. meet
a definite improvement in demand for i'm
portant products, presumably the fruit OF
Il prevailing conviction that new bust
ness will begin to crowd the works after
the new year starts. The move
ment of wheat and other products con-
tinues heavy that foreign exchange has
fallen th-ree-quarters of q cent, and in
stead of exports OF gold, which have
marked December in recent years, imports
would come if gold were wanted, as New
York credits against foreign bankers exc
coed $12, 900, 900. Securities are advancing
with reason in the increased earnings OIL
railways, Sal, 0S5, sol for November on re-
porting roads in the United States, 1873
per cent. larger than last year, and 50
larger thar in 1892. A striking comparison
go S-,a ~ VIC clantyC that in .nnHh nf tho
last three months earnings have been
greater than in any previous year, with
a larger increase in November than in
october or September.
The sudden rise in December wheat at
Chicago to S1.09 would do harm were 1t
not based on ayowed contracts to snip
millions of bushels to Europe. That fact.
and the continued foreign demand in spite
of such contracts, has helped a rise OF ~
cents here. Western receipts for the week
were 5,79S III bushels against 3,69l,3I4 last
dour. 4,312,3 4 against 2,975, 651 last year,
and so great is the foreign shortage that
the outgo Of corn last year, far greater
than ever before, is again exceeded, 81
313, 08e for the week against $685. $50 a year
ago. with the price nearly l cent higher
for the week. The report that Western
supplies are running low is discredited by
receipts from farms.
There is more demand for iron and steel
products in preparation for railway work,
bridges and buildings next year, and on
contracts for export, including one for a
government bridge in Holland, and others
for bridges in Japan, with large ship
ments of various products to England and
other countries. Foreign contracts for 40,-
600 ions rails are pending, Is, 900 for Mex
leo. In and about New York bridge and
building contracts call for $4,000 tons, and
Chicago works are figuring on numerous
contracts for 5000 railway cars. The for
nation of the American Steel and Wire
Company is expected to strengthen prices,
and causes some buying. While Besse-
mer at SO and Grey Forge at $9.15 are
Slightly lower at Pittsburg, prices are
stronger at Chicago, and in all quarters
heavy business is expected after the new
year. A sale of Lake copper, said to be
ten million pounds at eleven gents, 50
hut tin and lead are very dull, and spell
ter a shade lower, while future contracts
for tin plates have been made at $3.50
per 100 lbs.
Failures in the first week Of December
were but 81, 617, 240, manufacturing s73s,-
420 and trading 81, 791. $40. Failures for the
week have been 32 in the United States
against $50 last year, and 20 in Canada
Z. 40 lost war