The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-07-17
THE BUSINESS OUTLOOK.

[From Bradstreet's Estate of Trade.'1
The dullest month in the industrial
year Is duller thar usual, notWtthstano-
ing improvement among potters ana otn-
and steel. prices of which are back to
lowest points on record, a dragging de-
mand for boots and shoes, and a threat
ened famine of bitumlnous COAL
There are more coal miners out than
at this time last week, and notwithstand
ing assertions that arbitration VIII eng
the strike in the near future. some o.
the larger operators in the pittsburgh
district declare there is nothing to ar
bitrate. -
their agents report trade slow, owing TO
higher-cost cotton and low prices ZOE
goods. This has shut down q numnsf y
cotton mills in Massachusetts ana IN
Rhode Island. A fairly steady business
is reported by Eastern manufacturers OF
shoes, but this trade at P~hiladelphla Is
ders. Western wholesale dealers IN ciotn-
ing report distribution unsatisfactory.
Western bar-iron mills are alreaay smut
other week thousands Of factory wheels
will stop turning. This checks me
stronger and more conflaent lesihs ~
Industrial circles which was SO pro-
nounced a fortnight ago. -
The heavy loss of sheep in Australla,
due to drought, and speculation IN wool
here on tariff prospects have mace WooI
prices higher. with large sales, about
& "a, oND bounds at Boston alone, -compar-
ed with 700.0 900 pounds in the like week
last wear. In addition to the adVance
for wool and bituminous coal, prices are
higher for hides and leather, on good de,
mand, and for wheat on the contlausu
statistical strength of that cereal, snort
crop prospects abroad. a large average
export movement. and in thesface OF me
generally improving domestic crop ou ~
Ionk The worlds available supply or
wheat is probably the smallest at a ike
period in many years Europe IS ex-
pected 10 have to import luo,VOV.vuu pusns
Els more wheat than last year, ana
neither india, Australia or the Argentine
& expected to be able to supply its usual
share. The American wheat farmer ana
speculator are taking an unusuaI inIer-
EST in the situation at this time. re
action in iron and steel is followed py
lower prices for wheat flour, Indian corn
oats nork. lard, petroleum and rosln,
while practically Unchanged quotations
are reported for coffee, cotton, prlnt
cloths and refined sugar. Inc genera
tendency of the price movement THIS
week. therefore, is to reverse the grow
ing strength of quotations In the pre-
ceding fortnight.
tinted States amount to 81 ,032, 0oO, 900 this
week. a decrease of SO per cent. from
last week. but an increase OF : per CEN,
compared with the corresponding week
in 1896. one-ffth Of l per cent. mpar
with the like week in 1885, rs per cent.
contrasted with the second week OF July
in 1894, and 3.2 per cent. larger man IN
the like period of 1885
NAMES tend to improve. Iotal earnings
of GA systems show. an aggregate OF stS'.
e5a 1Sq gross and 49, 21, 915 net for the
month of May, gains of respectively Q
and Is per cent. over the month OF May
g STOCK nrices at New York are very firm,
with an absence of selling in the race
If duIIness and of Disappointment al Inc
delay in completing tariff ieglslation. me
hrlIish undertone in speculation IS large
w a, reflection of the good crop OUTLOOK
and prospective foreign demand Ior our
cereals. Anthracite coal stocks are Strong
on the completion of the Lehigh Valley
Zeal, which gives a powerful conserya-
five financial interest control OF that m
dustry; sugar sdoe rs.a alIer b .oucn deeIined
Slightly on doubts about the retentlon OF
the Senate sugar schedule IN the new
tariff bill. Europe E Is sfli, in exehange is
dull at 4.S7G4.sIA for demand sterhng,
and talk of gold exports has died out.
Grom R. G. Dun & Cos Weekly he
Excenting the great coal miners strike,
which NAV terminate at any time, there
is scarcely q feature OF the business oue-
look which is not encouraging, me sea ga
been improved by needed rains in some
| regions, and foreign advices continue TO
| promise a large demand. In many
/ home industries, particularly in building,
there is more activity than in any year
since 1882. and the week has brought a
better demand in boots and ShoeS ana IN
woolens.- while the movement of freight,
| mainly iron ore, through the Sault Ste.
Marie Canal is the largest in its history.
| With money markets unclouded, there is
nothing in sight to hinder rapid improve
rnent when uncertainty about legislation
has been removed, for the miners strike
| could not last long if business and IN
/ dustries should become active. There IS
| much less apprehension OF a failure or
| fuel supply than there was during the
first few days when prices rapidly adj
/ yanced, and large quantities of coal from
I West Virginia have reached northern
markets. but some of the miners in that
I State have struck.
THE advance in wheat to S1R cents was
| not due to the Government estimate,
| which was followed by a decline, but no
| foreign advices and considerable buying
far EXPORT. Demand is already felt from
Australia, South Africa, Brazil and even
Argentina. while the promise for Euro
| cean crops is not considered bright. The
| disposition of farmers to keep back wheat
| for higher prices may affect the utwar
movement, but Atlantic exports during
| July. flour included. AVE been 3.1l5,4 43
| bushels against 2.953,S17 last year., al
| though in the same weeks 4,6a9.315 bushels
| corn went out against 1,5f4.072 last yea.
Wheat closed 4 cents higher for the week
and corn II q cent higher. Cotton is a
sixteenth higher, the closing or partial
toppage of important New England mills
hardly neutralizing in market estimation
the approximations of injury from drouth.
In spite of large purchases for export,