The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-06-26


great manufacturing industries, iron and
steel. cottons and woolens, the first
shows relatively most Improvement and
WQolens next, although tariff delays have
taken the edge off demand in hat line
and permitted importers to stock up with
nearly two years supplies. Cotton goods
stu suffer from cut prices, excessive
is q better demand for silks, millineryand
confectionery, which, aside from the pros
perity Of the bicycle industry. constitute
cereals, for meats and Havana tobacco
are noteworthy, and reflect, respectively,
unusually small supplies Of wheat, the
strength of the control of the meat supply
and existing conditions in Cuba.
Rank clearings throughout the United
states this week amount to $s79, 600, 900, a
decrease of 7 per cent. from last week of
June, 1896. Contrasted with the cores
ponding week in 1895, at which time there
was a modern revival in business, this
weeks total shows a decrease of 8 per
cent. but when compared with the like
period in 1894, when bank clearings
ou &c very low levels. this s,eek's gain
week in June, 1895, during 5he panic. there
is a decrease of 5 per cent.
Under the lead of the granger and Van
market has advanced and broadened.
Although public participation is still re-
stricted and London, owing to local
causes. has taken little interest, the
buying mainly professional, has
grown, sellers, except to realize profits,
are few. The favorable crop outlook, ex-
pected gains in earnings and the posi-
bility of increased dividends from this
cause and from bono ~refunding operations
are the foundation of the strong bullish
sentiment. Industrial shares, particularly
American ugar, hang back awaiting
action on the tariff in Congress. Gold
shipments for the week, amounting to
81, 000, 900, nave been ~disregarded. AT the
end of the week Americans were gaining
in favor in London.
~ EUnnrfo IA wheat (Ha17r frnfrdod &C
wheat) from both coasts from the United
States and from Montreal this week
amount to Else, 246 bushels. compared with
2,547. 900 bushels last week, 2.S37, 900 bushels
in the week one year ago, l.964,000
bushels two years ago, 1,f17,000 bushels
three years ago, and as contrasted with
3.971. 600 bushels in the like week of 1898.
Exports of Indian corn amount to 2.2Sl,S 61
bushels this week compared with 1920 900
bushels last week, 1,T36, 600 bushels in the
a year ago. $500 bushels two years ago.
526, 600 bushels three years ago, and as
contrasted with 100000 bushe in the like
week of 1898.
fFrom R. G.. Dun & Co.'s weekly Re-
view."]
There is, no step backward in business,
although the season of midsummer quiet
is near. Improvement continues, gradual
and prudently cautious as before, although
in many branches evident where no
signs of it appeared a few weeks ago.
ouSlllcSS HIGH VA lIE Al i10 ~
all parts of the country, having gradually
perceived that the tide has begun to rise.
are regulating their contracts and invest
ments and their plans for the future with
a confidence quite unknown to hem a
short time ago. Great changes before the
adjournment of Congress are hardly to
is with reason expected to bring into
operation buying forces which have been
restricted for months. Meanwhile it is
encouraging that crop prospects still
oyouy hPiUhfar that the industries meet
a gradually increasing demand for pro-
ducts, that labor questions which had a
threatening aspect have been adjusted,
and that the Treasury maintains its
ample strength Notwithstanding some ex-
ports of gold brought about by premiums
paid on behalf of foreign governments.
The stock market has not been the bar
ometer of anything for some years, unless
of Wall Street apprehension. But its
sustained advance appears to mean some
the first time in several years. by a
genuine public demand 1t is now six
weeks since there started a slow upward
| movement, so gradual at first that it took
! two weeks to raise the general average of
stocks from S46.09 per share to $4T.09.
There have been many spectators, in
Guiding some of the most powerful, look
| ing and working for a reaction ever since
| but it does not come. though the average
| has mounted about 81 per share from the
4 start, closing at $5o.14. and the most ac-
| tive stocks have risen from Sc to S12 per
| share. There has been some foreign
buying each week of late. but by far the
| greater demand has been domestic, dis
4 closing a remarkable growth of confidence
in the future. The past week raised the
| average of railroad stocks rs cents pei
share, and for trust stocks rs cents. Earn
| ings were somewhat encouraging, only So
per cent. below 1892, with Granger, and
Southern roads earning more than In
either year. The main factor at this tins
is the steadily Frightening prospect for
1 crops. 4
A most encouraging feature is the large
de1oand for commercial loans, of nine
large banks one having loaned only or
such paper, five others from So to so pei
cent. of their loans, and the rest at leasl
half. Some report the best demand OF
it from Eastern textile mills. Exchange
is strengthened for the time by Interest
payments, more concerns being able t.
pay than in recent years. The Southern
demand for small notes to move crops
has now begun Failures in three weeks
ending June II showed liabilities of 81, 718,
ia against IS, e5s,614 last year, sl6,5us.o22 il
1895, Including the Cordage Co.. and 50. $50,
465 in 1894. Manufacturing Were $s.625. S6-
against s., S4S. 495 last year, and trading
ures for the week have been PIG in the
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