The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-07-24
THE BUSINESS OUTLOOK.

IFrom r. G.. Dun q Co.'S weekly Ike
yiew."]
The end of uncertainty regarding duties
on imports gives greater confidence alike
to those who have opposed and those who
have favored the change. The great
Of the Granger list, reflects assurance OF
heavy crops. The remarkable rise in
wheat, Notwithstanding that assurance,
is based on heavy buying for export and
belief tina foreign demands will be large.
To these must be added another element
of confidence scarcely observed q week
ago. The heavy increase in receipts OF
| gold, whether from one side of the Alaska
border or the other. SWells deposits at the
minis and in the banks OF this country,
current expectations. may have an inilu-
ence akin TO that of gold discoveries in
California. The one retarding force, the
strike of coal miners, has caused closing
of q few manufacturing works for want
of fuel. but negotiations for settlement
are still pushed with hope.
The wheat market IS the sensation Of
risen II cents, by Wednesday, when a re-
action of 4 cents was not surprising, but
the close was Is ct. higher for the week.
1t is notable that this rise came in the
face OF highly encouraging crop news,
which is notdisputed, and had for support
nothing bu foreign conditions and de-
nland. Actual buying Tor export has at
times been heavy. and loading eargoes
here and In California for countries which
usually contribute to European supplies
AlCctlA9 I tkACt4c III AtliRACEcloti ItO-
duced by continental reports. That there
is speculative handling behind the great
advance is evident, and the buying for
export has not yet resulted in Atlanta
exports quite as large as last July to
date. 4,6S2, 440 bushels flour included
agains 4.961 I46 last year. Western re-
ceipts, 5.252,2 1 bushels in July against 10,-
275.257 last year, indicate concerted delay
of shipments, which. however, rarely
withstands the influence of a substantial
The stock market has advanced. in
average price of sixty active railway
stocks every day since July S. as it had
then advanced with little Interruption
about seven weeks. The average rached,
s5f.91 on Friday. surpassed by so cts. per
share the highest last year, made the
week after the election. but railroads have
a better prospect of business in grain.
and other freight than at that time, or
in September, 1895, when the average
reached $50. OF. The rise since May /. has
averaged 1881 per share or ia per cent,
but earnings have also gained though as
yet rather less in July than in June,
many important roads being unreported.
Ii is a belief which fits many of the facts
that some London spectators, who had
acquired a habit OF playing on this
market as their musical instrument,
thought the June rise should have stop
ped when they sold, and have been sell
ing and sorrowing since, so that some
trouble is feared.
With a radical change in foreign trade
at hand. heavy imports and Withdrawals
of merchandise are important only be-
cause they strengthen the Treasury
merchandise last week were s., 1o0,o 600 or
80 per cent. larger than last year, but for
July show no material change. Foreign
exchange is strong, payments for sugar
and for stocks sold by London contribut-
ing, but prices for sight October bills
show belief in a material decline Com
preparations for the new tariff are over.
Silver has fallen to the lowest point on
record, as London is heavily on the losing
of that market also. There are pos
of difficulty to individuals, grow
ing out of heavy imports of tea, which
will mo- be made dutiable, n Of wool
some time, but the very low aggregate
of failures marks a condition of health
Both because of the season and because
of pending action on the tariff, industrial
Operations are waiting, INC yet with an
Improvement which under such cireum-
stances is significant.
The textile industries nave lost no
ground. as the eurtailment of production
in cotton for a time is really a GAIN The
demand has somewhat increased, but the
accumulated stocks of goods must be re-
dueed before impotence to buy can be
expected.
the United States against Isl last year,
Is in Canada against 20 last year.
IFrom Bradstreet's state Of Trade
The widespread confidence that there
will be a marked REVIVAL III SeHtIdi tiduc
in the fail continues to grow, ana with it
material evidence that it is well founded
Chicago jobbers in clothing, dry goods
and shoes, and manufacturers. there ana
elsewhere, of pianos, organs, wagons and
farm implements, report that fan busl-
ness has begun. which is much earlier
than. usual. tn d~istripYtlon 81 gsneral
active, although trade there is favorable.
Like reports are received from Pittsburg.
Notwithstanding duilness m ron ana
busy season on plantations; Omaha, Mil
waukee Duluth. Minneapolis and St.
Paul, where are feeiing the
wheat. and from Galveston and other
points in Texas on the favorable crop out
look and confidence in an increased move
ment of merchandise next fall. Demand
f0y supplies for shipment to the klondyke
gold region has made July the busiest in
stead OF the dullest month. in the COM
mercial year at Seattle, and has had an
influence on sales of staples at Tacoma,
and San Francisco.
Bank 4clearings throughout the United
continue TO indicate a comparative
" l~argeSyoluMe of transactions, the total
to 81. eos, 0o0,0 600 this week-6.4
per cent. more than last week and 10
her cent. more than in the third week of
..Julyss When compared with the cor |
responding week in 1895. in the midst of
moderate boom which characterized
the summer months that year, this weeks
aggregate shows an increase of Is per
and when contraSted with the like
week In 1894, when general trade was
greatly depressed, the weeks gain is AZ
Der cent. A like comparison with 1893.
the panic, shows a gain OF IL per
cent. this week, and compared with 1892,
of more than 4 per cent.
Prices movements show no radical
changes aside from those in cereals,
having advanced about &C.,, pulling
fal1r up after it, and Indian corn as
well. Higher quotations are also report !
I'd for lard. refined g and coffee, while
silver. petroleum.. cotton and oats show
There are practically no
changes in quotations for iron, steel, |
pork, sugar and print cloths.