The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1897-09-18

tical settlement of the b-ituminous-coal
strike, a further rising tide of Sdemand
for iron and steel products, the With
drawal from the market OF some manu-
facturers of woollen goods, activity gen
orally among manufacturers of wool
lens, extraordinarily large bank clearings
and reports that mercantile COLLECTIONS
have improved constitute the features OF
the week.
Bank clearings for six business days
ending with September 16 (none estimat-
ed aggregate Sl.3S6. $4,000 ana form S5me
largest weeks total since January, 1888,
at the top sof the boom which preceded
the panic of our years ago one or tne
largest like totals ever reported Inc M
crease over last week is 70 per cent, ana
fully 50 per cent. over the total IN the
second week in September, 1896. Ihefe
is an increase of more than q per cent
compared with the like total in 1879,
nearly So per cent. contrasted with the
corresponding figures in 1884, and "a per
cent. compared with the like total in the
panic year 1898. Even when COMPARISON
is made with similar aggregates for three
years preceding 1888. when the volume OF
business, on the whole, was exceptional
ly large. this weeks total shows a gam
per cent. over that in 1891, and s per eene
over the total for the second week of
September in 1890, a period marked by
an exceptionally heavy business.
Prices for thirty of the more important
staples continue to show pronounced
strength, only seven being lower than last
week-wheat, wheat flower, indian corn,
lard and pork. the result of a natural re-
action from preceding advances, lead and
cotton, which has begun to move more
freely. Unchanged prices are reported
for copper, coal, print cloths, leather,
hides, oats, and for wool, which. remain
very strong, with ar upward tendency.
Higher prices are given for sugar, rice;
coffee, butter, eggs, potatoes and eanaed
goods among food products, for wooden
goods for spring delivery, for some grades
Of mems shoes, whiskey, white and yell
low pine lumber, lion and steel bars,
Southern and Bessemer pig iron and for
steel billets.
Net railroad earnings for July make a
good showing. The gross receipts of
eighty systems for that month aggregated
$50, GA. $50, a gain over July a year ago OF
rs per cent. Net earnings for the month
amount to s17, 750,654, an increase over a
year g of nearly 10 per cent, or almost
double the gain shown in gross receipts.
Stock speculation at New York con-
times active and bullish, with heavy pub
lie buying and m~anipulative assistance in
various securities. London has bought
here. The fact that money is growing
firmer and that stocks are held so loosely
at present by small spectators creates
apprehension among conservative people,
and during the week the market reacted
at times on this and on yellow-fever re-
ports. Railroad earnings continue ex-
cellent, but the New York Central did
not increase its dividend rate. The Van
derbilts, trarrscontinental and gas stocks
have been particularly strong. Exchange
is weak at 4.S47s for demand sterling, and
talk of gold imports is again heard. Sill
Yer has improved slightly on the offer of
the Bank OF Englandis governor to keep
one-fifth of it's reserve in silver.
From R G. Dun & Co.'S Weekly Re-
view."J
The end of the hitunlinous coal strike
and the return of many thousand men to
work at advanced wages add to the
purchasing power of the people, and the
anthracite strike affects not a fifth as
many workers. The starting of many
mines and works, the enormous exports
of wheat and corn, the favorable news
as to those crops and cotton, the fall in
sterling exchange and the report show
ing that gold imports began in August,
exceeding exports by 81. 390,5S7 while mer-
chadise exports exceeded imports by So
953, 753, lave all contributed to forward
the Improvement in business. The re-
plenishment of stocks cannot be hair
finished, though some who could see no
sign of Improvement a few weeks ago are
finding 1T so vast anr rapid that they Tear
reaction. But consumers as We'll as deal
e1s have also to supply themselves after
years of enforced economy, and while
their power to purchase is increasing
every day, and their actual buying at
retail, reasons for apprehension are not
urgent. When the tide rises after four
wears of depression it does not fall again
after four weeks.
The wheat market has declined over
5 cts. on account of crop reports which
promise large ~prosperitE, and corn and
cotton are both a little lower for like
reasons. Yet estimates of the highest
financial authorities regarding require
ments from this country are not smaller,
but larger than before, while better pros
poets in Argentina. Australia and India
hold out no promise of large European
supplies, or of n until. winter IS about
over. Atlantic exports OF wheat, tiouf IN
=. - 4lna 7o4th1a T1a1f et-aor RIO
each week, and in two weeks S.S20.313
bushels against 4,107, 721 last year, n of
corn 1895, 1853 bushels against 5,5SI,S26 last
wear. From the Pacific coast wheat Is
also moving largely. q cargoes from San
Francisco this month, and over 54S,9S5
bushels in seven days from Portland.
Corn declined over 3 cts. with growing
belief that the yield will surpass esti-
mates. Gotten was depressed from7h 70
tets. with favorable news of yield.
although the mills are now consuming
with great srapidity.
After the remarkable excess OF mer-
ehandise exports over imports in August,
there appears in two weeks of Septem-
her an increase of II per cent. over last
year in exports, and a decrease OF ~ per
e in imports tnoagn h Iast rs ysaT fbv
$44, 250,000. 1t is not surprising that ster-
ling exchange has fallen IA cents during
the week. the stronger money market
here also having influence. The outgo of
currency to the interior was S4,7o0,000, and
London bought about $4,000 shares of
stock more than It. sold. Commercial
1oans do not decrease in volume, but
were proportionately smaller, as bankers
are preparing for future interior needs.
with Paris exchange almost at the gold
point, imports from Europe seem not dis
Failures for two weeks of September
are swelled by one brokerage concern for
ii. 500. 900, and would otherwise be the
smallest for four years, as In
turing and trading they were. Liabilities
were 81, $50, 631 against s. 1903, 462 last year,
manufacturing 800. ITS against s4,246.l4S.
md trading sI.622, 956 against S3,1S0, 149 last
year Failures for the week have been
5a4 in the United States against 81 last
wear. and 40 in Canada against 50 last
year. --