The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-10-17

ncmoer retained discharged given tho largest number
among the carpeners and iners otasr shops
We nave total OF ga men employed which 10 nearly hall
Ser added % The sumSer sre.sy ssoessnsd a. bsSpr
been discharged from the iron panoore organ and me
l,dsan Manufacturer, makes total o4 III already known
70 &c discharged from these branches alone.
THE EFFECT ON TRADE.
| JAMIE aospoH BENNETT, Eiq
DEAR S-Ip your reporters account OF the Jersey CITY
fact ries, very much surprised to ind ths our
chemical worhs had ts sho, closed mp" Some Of our
irerds might suppose ,ha dire cAamity had beaen AZ
In business relations, which, happy to state, 10
not YET The fact Though business much depressed
&c sli employ . few hands Of the factory 10 Jersey
CITY, and = our :sers,u: depot Iss AID iss CsaT street
10 susrepd fail or assigo takes place but we are
yet believe the blue u," md hall Try not
| 10 be Yours, respccfu'iy THos ANDREWS w.
NEw YORK. oct 10, 1857
THE PANIC AND THE PAwNBR0KERS
The pending financial pxrc which nov convusos the
enterprise Of the entire country 10 not without lis effects
upon the pawsbroksrs Ia compelling those who have
means their TO rstrenoh In the extent or the loans
they make upon collateral, and practically stopping The
operations OF those who loan upon borrowed capital
Those who possessed Of means the extent Of the
business exhaus their ready cash. N ordinary times
penish their treasury byloansnego from private capt.
tsis and which readily blamed years. n the
Of per cent per month Tho usual interest paid by
persons who borrow small sums from the pswnbrokers
per cent per month, though In mort instances
than mis- Is made By their being compelled 10 pay full
menha interest," though hcy redeem the pledge two days
after the month s commenced and also By the PROFITS hat
accrue to the upon the sale OF unredeemed
pledges In the ordinary of events from the nrs
Of September to the first Of Mover the pswnbroksrs
have large OF money hand. proceeding from the
amount OF property redeemed, and the usual activity
In the industrial and eroiaI bran shes which preoudss
The necessity OF securing advances collateral but at
the present time wing OF the disorganzed n!ae Of
The financial affairs Of the country, not than
quarter OF the amount of property usually redesmed IL
up and whilst the demand for small loans rcbl-d,
for large oans quinu plec because Of the large
bers of of employ nent the amount OF money
glyeo pledges is not more than third as lase AZ
ordnay, becsuse the pssuuroSsrs have mems
OF heir own which ars avhlabls, and or the
imposs bhty se,ure leans from capitalists ono Of the
from fifteen t-shiy thousand dols's lying Idle at this
season O. the year. hts nov 40 empty treasury roer
usual REDEEM ptions 5000 per day; sntv do not
avefrge $40 The average amount loaned By them at
this ame in amounts unde' s26 $500 pa day but for
want OF nesrs they unable u loan more than $500
But few s-ae OF tue extent 70 which
merchants and buainess mn avail Themselves
rnd II 10 no le, rema-ssble tbtt on large suns
they ensbed 10 ;e loans upon bette Zoe
c.use Of deposited o'sera nac ta'y can Ia Wal, sres.
sh Vt loans mat coE,dere1 good securities ere
often made in Ordinary nes in YAH Esees at fge per
cent per monss wnis pawruroEers seldom chsrge
tao ard q hall three II IA MT unreQoest
TO- he essAir referred TO above to loan
varying from thousand TO ten thousand colsra On
vslus ,e property upon slese and 10
applications for in large nms, ri their c,nnter
atone reach COO per ". six times than s
usus NEAR all Of heao applications they psiled
to ie.u,e for the want Il sney and whilst they
obseo TO refase demand for eLooo per osy small
pledges. they obliged s,o to retuce tn amounts
lost arcts ffty per cent below zoe usual
watch, upon which, SIX months since, they would
readily advances s2b, they will moi slvs more tran
Iaadi nata Ali hY.ar ~ nrAa
TO meet the demands UPON them TO- losns, VA,
obiecd TO refase TO any S. though they
have sinoe raised The amount 10 Sl0f b5us toe usual
Imil At Inc ion es n up-etecmed pledges there
10 usually . brink compe,on in the p1rchssers Two |
week. sincs, ~ Isuno .o&er's ssle-el0 600 worth Of
watches, selsy, diamonds and byoaere-6s desrs,e
Let ofefethee were fsv or no buyers, and
ANer ssut $3.50 ~ortn sscr,hceftoev conpellac
he ssle,he prices real I'd being 40 Il
thin Ordinary times sbe preaen densods Tor rnocey
o. the pavkbrokers From Toe Industrial ol.xscs
aoorers and others who thro ~p out Of
eroy ment; the middle class, ndcasd by that fact,
l..ar -