The national Republican., 1867-07-20

We had the unpleasant duty last week
Of noticing the failure Of a very prominent
dry goods house, and we have this week
10 add the names OF two more firms that
have been compelled TO succumb during
the past week. These two more unfor-
Inmates are the very respectable importers
of British goods, Fairchild, Fanshaw &
Co. and Loesdrigk, Willard a Rhodes.
To these might be added the names Of two
or three jobbers, and the name Of another
large importing house inextreme difficulty
il not actually suspended. But IL Is hard
ly proper to report the death Of person
who is in articiilo mortis: II will be time
enough when the breath leaves the body.
1t may be said Of merchants as Shakespeare
said Of ordinary mortals, 1.-The time was
once when the brains were out the man
would die;n but merchants will succeed
sometimes in carrying on business, with
seeming prosperity, long while without
brains; and il is not at all to be wondered
at II long established houses should now
and then suspend, or absolutely fail, in 0
time Of general prosperity and Of abund.
ant money.
or course, we do not intend these re-
marks as personally applicabl anywhere;
but there have been o good many sensa-
tional rumors growing out Of the few fai :
ures which have occurred in the dry goods
trade, and an attempt has been made to
throw distrust over the commercial sound
ness Of many houses In the most important
business interests Of the metropolis, which
should be promptly disapproyed, lest they
lead to actual disasters. The failures
which have occurred we believe to be ex-
ceptional cases, and it will be piece Of
great good fortune for the business COM
munity IL, under the operation Of our new
bankrupt law, prompt investigation can
be had and the causes which led TO the dis
aster fully published. Under the existing
condition OF the country, and the extra
ordinary ease Of the money market, there
need be no fears Of commercial reyulsions
such as occurred in 1887, ls47, and 1857.
The terrible commercial disaster Of those
dismal periods were distinctly owing to q
thoroughly vicious..system Of banking and
an unsound currency. At the present
time we have the best currency which any
commercial community have ever been
favored with; and only accidents beyond
the control Of ordinary calculations, or
very gross mismanagement I, could result
in business panic. There is nothing like
disturbance Of the currency to be antici-
pated from governmental interference.
Owing partly to the actual and asserted
failures among the dry goods importers
and the expectation that they would lead
to forced sales, which would naturally re-
duce prices, business has been very light
during the week; IL has been very nearly
stagnant. Importations Of foreign goods
too, have been very light, the entries
amounting 10 but s2,0O0,000 against 49,
100000 last year at the same time.
The trade In domestics for the week has
been rather limited, but prices have been
firmly maintained. The West, the South,
and the Pacific States are all bare Of staple
goods; they have been buying from hand
to hand SO long in anticipation Of lower
prices that the time has come when large
purchases must be made, and the conse
quence will be an active market and Q
hardening OF prices, II not u considerable
advance. The abundant harvests are al
ready beginning to tell on the trade. Tht
manufacturers and their agents must meet
the increased activity of the fall in liberia
spirit, or they may fail altogether to rear
the benefits Of it. Brown sheetings and
shirtings move readily at our quotations
and there is better demand for the finei
qualities for bleaching.
In bleached goods the stock has very
sensibly decreased, while the demand fol
common grades has exhibited a marked
degree of improvement. 1t is too early a
present to estimate the effect which tn
growing crop of cotton will have or thi
style Of goods; but it is safe to assuJ ne tina
the increased demand will about peutraliz
the effect Of a large crop.
There is hardly anything doing in drills
but the demand tor jeans, which we notice
last week as active, still continues. Stripe
are but little called for. Ticks are inac
tive, and the market is well supplied
Denims and cottonades are neglected, an,
the quoted rates are merely nominal
Printing.cloths are quiet; there is very lii
tie inquiry for clio tbs in the gray. Tn
demand for prints has been more lively
and seasonable styles are in good reques
at quoted prices. The fall patterns hav
not yet been exhibited; they will meet
good demand when they come. In gins
hams the demand has improved somewhat
and the finer qualities find ready salt
Though the season is advanced for ligt
printed lawns, the better kinds maintai
their prices but slight concession is nc
denied when large orders are given Role
jaconets, sllesias, and eambrics are withou
material change. AsiaS de LANES ar
less inquired for than nthSyN been Ih
demand from the clothing k6nfdctffel
gives firm tone to the prices Of Italia
cloths, which are in considerable reques
at this season, especially in the medur
grades. The same remarks will apply t
most qualities of wooden cloths, thong
there is considerable irregularity in price
Kentucky jeans are extremely dull, an
the market we'll supplied. In the carpt
trade there is very little doing; the seaso
of the year is unfavorable, but prices al
firm. Flannels are without any marke
change. Linens of the coarser desert
tions, the only description, in fact,
American manufacture, are steady at Il
quotations.
In foreign dry goods the market is u
settled. The heavy failures Of some in
porters have tended to demoralize pu
chases, and there has been some difficult
in relation to the withdraw Il of goods fro
bonded warehouses by large import,