The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-01-10
Baltimore.
Baltimore.
Correspondence ofthe Herald.
BALrIMsRE, January 7th, 1872.
Ild IN B0liimore-Fyomr Dealers Grfdt

Correspondence oftie Herald
BALrIMsRE, January 7th, 1872.
The Herald in Baltimore Flour Dealers Gr6at
Faiiure-Ihe tcay to do Business.
DEAR BENNETT -
Being a constant reader Of your valuable and ably
conducted paper, my mind is frequently struck,
with establishment and surprise, TO see the enor
nous and widely extended correspondence that
finds its way to public observation, through the
medium Of the Herald, from Maine to Georgia, and
from the Atlantic to this Pacific. Embracing this
vast Republic, there is nothing that ranspires OF
any importance interest, to its thousand Of read
ers but what we find the Herald foremost in devo-
looping.
The Herald here, in our city, is enphatically the
lip Whenever news or information, upon the
important and most interesting topics OF the day, is
desired it is not uufrequenly that your agents here
fall far short of the increased demand for your pa
per.
You must feel hattered at the favorable conside-
ration in which have represented the character of
your journal for l have thousands here to bear
witness to the sober traths l have expressed at
the same time assuring you, that were my chances
for fame and fortuse as bright, as deem yours to
be, would not thank Uncle Sam to be my uncle.
Most of our flour dealers here have been thrown
upon their beam-ends in consequence OF large
firm in Virginia, f. Il s., flour Dealers failing to
reimburse number Of houses here, in the -four
trade, for their acceptances amounting, in the ag-
gregate, to some $50 OO0 The most that any one
firm accepted for was $sSo, 0O0-ransing downward
70 $1,000. which is the smallest liability OF any
house. These acceptances were made in good faith
upon promises, but no guarantee, that -four to the
full amount Of the respective acceptors, should be
placed in hand in time to meet the drafts but fail
ing to do this, their acceptors had either to adj
vance the money or let the drafts be protested The
result was the latter course. Consequently, some
(out Of seven or eight who sopped) are amongst
the most prominent flour dealers in cur city but
we have many yet left that will stand the test Of
tighter times than we have at present
II is generally thought, however, that no loss will
ensuein the end to the acceptors The drawers
being gcntle men of high character and integrity,
have made deed Of trust, securing all houses that
are liable for their their property being
large and very valuable so our friends in town,
although legally bo"ud feel secure that in the end,
they will all come It at the big end Of the horn,
swearing by gar, shall never be caught in such
a dilemma again l never will make another bar
gain without holding in one hand an equivalent TO
what pay with the other. This occurrence kills
all future operations Of this kind here for the next
years. II is too much like your stock'jobbing
men of Wall street, and ought to be dscountenan-
cea by every intelligent merchant.
Nothing more, at present all kinds OF business
is very depressed here, and money very scarce.
ALPHA.