The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1852-11-24
Manufacturing In New England.


The manufacturers Of New England are now en-
joying season Of fair and moderate prosperity.
Those OF Thorn which possess an abundance of work.
ing capital, and whose real estate and machinery
have not cost them too high, are making very
handsome profits. Others arc doing fairly, and
most of them are making up to greater or less ex
tent the losses Of the two three past years
have been unusually heavy. More than half Of the
stocks in Lowell, lawrence, Manchester, and other
places, which year ago were selling at fifty and
sixty cents on the dollar. have now risen into the
neghborho0d cf nj 1ety and the others with one or
two exceptions beve riien from ten to twenty per
cent during the year This is encouraging, and the
prospect ahead is quite favorable, in all respects,
except the high price Of raw material, which il
al ways disadyanta geous to the manufacturer.
Woollen manufactures have not risen so we'll from
their depression as cotton fabrics and while tho
number of voollen mills has been greatly reduced,
the stock Of those which are still working is yet
much below par.
prosperous year for manufactures and for ship
ping. such seems now likely to oc,ur, will put .
new face upon bushes in New England, and NO sec.
ton will feel the impulse moro than Boston, which
city has had much of its capital locked up in un-
productive establishments for three or four years
past, that the enterprise 0! its capitalists has been
sadly crampsd A year OF two Of prosperity to ma
nufactures and the carrying trade, will pour great
amount of wealth into Boston where all the surplus
income of New England finds its way, and is again
thrown out into new and numbsrless channels Of in
dustrial development oil over the country.
The manufactures Of Ne wburypors are gradually
recovering from their severe depression, though
much more slowly than they would do, had they
suficicncy of working capital AZ the meeting OK
the Globe MIL company on Monday, ~ was stated
that the profits Of the last six months had been
$I2, GOO, which sum had been applied TO the re-
duction of the debt of the company. The capital
of the company, which was deficient, year ago,
$50 COO, is row minus only G5S,000, aud three
more good years would nearly liquida.c the loss.
This however, is not TO be expected rs three good
years in succession not to DO looked for in any
large business.
The stockb oldcrs Of this mill have now an oppor-
tunity to see what they have lost, by not boldly
adopting the course which was recommended to
them las. spring in reducing their shares from 100 TO
600, AID paying in equal amount Of new capital
in additional shares. The result of the six months
work shows, that had this been done, they would
have received now dividend Of ten per cent the
reduced capital, and their shares would no doubt,
OF this moment have boon worth $l20, dividend Of,
while row they have dividend, aad the shares are
offered la the market at $95 without finding pur-
chose,s, and probably would not bring moro than
$75 nj forced sale
The Ocean Mill which last year made a loss OF
about $l5 600, has this year nearly worked out Of
its loss, being now little less than 81 900 minus.
The Bartlett Mills show profit of about S1i,55O
In the last six months work. fcom which they have
declared q dividend Of 81 per cent.
Tho James Mills have not made up their accounts
for the last half year. The Essex Mill does not
make up their accounts until February, and Il will
pro ably require tho first half Of the next year TO
make the capita whole