The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-11-06

| south or east. Leading manufacturing
Industries continue fairlx Well enaployeas
Rhode Island WOODEN mills a-reNdyancing
9 OF employees: While there mas peen
furnaces and mills continue well EN-
| ployed. and the outlook for higher quo
tations neHt year is unchanged.
October bank elearing# SHOW but few
effects of the quieter trade conditions dur
ing that month. Though showing q
smaller gain over last year than did sep
temher or August, the total volume OF
clearings is l per cent. larger than for
September. a2.3 per cent larger than Octo-
Der a year ago and ~ per cent. larger
compared with October. 1894. is 81 per
| cent. with October, 1888. 50 per cent. and
is only 8 per cent. smaller than In October.
1896. Every group Of cities bur one, ana
that the southern, shows a heavy gain
over a year ago. Yellow fever guarantees
have cut down the gain at the south TO
less than 2 per cent. Heaviest increases
are in the middle and southweStern
States. Only one city outside Of the
Southern States shows q falling Off from
its October total a year ago. Total clear
gregate SIS. COS, 5s7. 952. an increase Of 10 per
cent. over a year ago, nearly 8 per cent.
over TWO years ago, n OF Is per CENT.
over 1894 In My " groups OF cities,
the northwestern and the southern, are
there decreases shown from the ten
months total last year.
Tho New York stock market was de-
pressed on the result of the elections, COM
STRUNG them TO Indicate a reaction to-
ward free silver. Trader hammered
prices and buying support was acking
Later on unfavorable a0vices about the
Cuban situation caused further declines
and moro or less liquidation, though on
the drop traders covered shorts and raj
lied quotations somewhat. London papers
have taken an anfaVorable view of the
situation here. but foreign bears covered
on the declines. American Sugar stock
is depressed on Mr.. H~aveneyers illness.
The Treasury and Union Pacific reorgani-
zation syndicate have arranged for the
deposit of the large sum involved in the
purchase under foreclosure with a num-
Der of designated national banks. Ex-
chang rates are quiet and firm, though
the London money market displays easier
tendencies. Demand sterling is 4.S5l2Q
4.S5A.
GFrom R. G. Dun s. Co. S Weekly Review.l
Stronger proof of the great change in
the condition of business could not pc
given han is foun in the detailed report
OF failures by branches of business, never
shown except by Dun & Co., Tor the
month of October. Though swelled by a
few large speculative or brokerage fail
urcs. the aggregate vas smaller than in
any other month for more than four years,
except in July and August and one month
in 1894. This manufacturing and trading
failures, $IS23, 1879, against S7,S3O,Sll in sep
TENDER and 81, l60, $50 in August, include
one for 81, 00, 00J having no relation 10 the
present state of business. During the four
years iron manufacturing failures nave
not been smaller except in one month,
wool manufacturing except in TWO
months, leather and shoes and unclassi-
fed manufacturing except IN tour months,
and cotton manufacturing except in six
months. OF trading classes, failures nave
never been smaller in groceries, JeWelry
and books except in one month, IN cloth
ing, furniture and unclaSsified trading ex-
cept in two months, and ten manufactuf-
ing and eleven trading classes out of four
teen each have never reported smaller
failures in a third of the past forty-eight
months. improvement so general. with
a remarkably low average OF liabilities in
most classes, has a meaning which cannot
be mistaken.
orders and purchases for over two months
is still increased in many branches by I'M
reasonably mild weather, and yet the
mills are obliged to refuse many orders
because unable to finish previous engage
ments soon enough. 1t is in every way
fortunate for the industries and the
would-be buyers, since speculative pur-
fast as to make reaction probable. More
works have Joined the active list, includ-
ing some long idle, and the production
in iron manufacture is theg greatest ever
known. The output of pig again exceeds
the demand, which naturally dimfnisheS
near the close of the year, and prices
at the maximum by pressure of orders
which the works are not able to I'LL fast
enough.
The volume of business is not actively
reflected by clearing house payments in
a broken week, but with five working
days against six in 1882, the daily average
shows an increase OF 80 per cent. The
money market is undisturbed. arrange
ments are made by deposits with seven
banks to avoid disturbance through Union
Pacific payments, and money returns from
the interior, with unusually small deal
ings in commercial paper, though in pro-
portion larger han last week. The in
crease in credits in the form OF long ex-
change against European goods has been
small, but heavy blocks of some american
city bonds are being offered here on ac-
count OF foreign holders showing anxiety
of. the London market TO fortify itself.
Exports and imports at New York since
October / indicate a larger excess of ex-
ports than has ever been known, which
must provide against needs of gold for
time to come. Failures for the week
have been 276 in the United States against
go last year, and.3 80 in Canada against 81
last year.