Belmont chronicle. [volume] (St. Clairsville, Ohio) 1855-1973, 1867-07-25

we nn0 tne unpieaS0nt uuJy laSt week
of noticing the failure of very promi- |
nent dry goods house, and we have this
week to add the names of two more firms |
that have been compelled to succumb |
during the past week. These two unfor- |
tunates are very respectable importers of
British goods, Fairchild, Fanshaw &C., !
and Loesdrigk, Willard & Rhodes. To |
| these might be added the names of two |
or three jobbers, and the name ofanothcr |
large importing house in extreme diff |
Guilty If not actually suspended. But 1t !
is hardly proper to report the death of |
person who is in drtio,,lo mortis;' 1t will !
be time enough when the breath leaves
the body. 1t may he said of merchants,
as Shakespeare said Of ordinary mortals,
"the time was once when the brains were
out the man would die< but merchants
will succeed sometimes in carrying on
business, with seeming prosperity long
while without brains; and It Is not at all
to he wondered at If long established
houses should now and then suspend. or
| absolutely fail, in time of general pros
perity and OF abundant money. OF
course, we do not intend these remarks
as personally applicable anywhere; but
there have been a good many sensational
rumors growing out of the few failures
which have occurred in the dry goods
trade, and an attempt has been made to
throw distrust over the commercial
soundness of many houses in the most
important business interests of the me-
tropolis, which should be promptly dis
proved, lest they lead to actual disasters.
The failures which have occurred we be-
lieve to be exceptionable cases, and it
will be piece of great good fortune for
the business community If, under the
operation of our new bankrupt law, n
prompt investigation can be had and the
causes which lead to the disaster fully
published Under the existing condition
I of the country, and the extraordinary
, ease of the money market, there need
be no fears ofcommercial revulsions such
as occurred in 1887, 1S47, and 1857. The
terrible commercial disasters of those dis
NAL periods were distinctly owing to
thoroughly vicious system of banking
) and an unsound currency. AT the pres
enttime we have the best currency which
= tanv commercial community have ever
, been favored with; and only accidents
, beyond the control of ordinary calcula-
tions, or very gross mismanagement,
: could result in a business panic. There
is nothing like q collapse of credit to be
feared, nor any disturbance of the cur
g rency to be anticipated from govern
0 mental interference.
' Owing partly to the actual and assert
: ed failures among the dry goods import:
' ers, and the expectation that they would
: lead to forced sales, which would natur-
ally reduce prices, business has been very
light during the week; it has been very
nearly stagnant. Importations of for
eign goods, too, have been very light, the
: entries amounting to but 900
: against So, 600, 600 last year at the same
d time.
e 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 buy
}, ing from hand to hand so long in antici-
n patton of lower prices that the time has
d come when large purchases must be
made, and the consequence VIII be an
. active market and hardening OF prices
y if not d considerable advance. The
!, abundant harvests are already beginning
II to tell on the trade. The manufacturers
and their agents must meet the increased
v activity of the fall In u liberal spirit, or
y they may fail altogethcrt to reap the bene-
d fits of it. Brown sheetings and SHIRT,
e ings move readily at our quotations, and
e there is better demand for the finer
qualities for bleaching.
70 In bleached goods the stock has very
" % sensibly decreased, while the demand FOL
:" common grades has exhibited II marked
=. degree of Improvement. 1t is too early
+ ut present to estimate the effect which
:, the growing crop of cotton win have on
y this style of goods; but it is safe to as.
= sume that the increased demand will
% about neutralize the effect OF a large
" crop.
1t There is hardly anything doing in
z drills, but the demand for jeans, which
1t we noticed last week as active, still con
II tinues. Stripes are but little called for
Ie Ticks are inactive, and the market Ii
n well supplied. Denims and cottonade'
.AxI Il bod t.nt N
N merely nominal. Printing cloths arr
Of quiet; there is very little inquiry 70
n cloths in the gray. The demand 70
is prints has been more lively, and season
t. able styles are in good request at quoted
is prices. The fall patterns have not ye
is been exhibited; they will meet goot
ot demand when they come. In gingham
It, the demand has improved somewhat
lg and the finer qualities find ready sale
~ Though the season is advanced for ligh
!" printed lawns, the better kinds maintain
,r their prices; but slight concession is no
ia denied when there Is disposition t
as ns give large orders. Rolled jaconets, silt
S sias and cambrics are without matcra
na change. Muslin de laines are less in
~. quired for than they have been. Tn
- demand from the clothing manufacturer
ha gives firm tone to the prices of Italia
s. cloths, which are in considerable reques
nj
Nv grades. The same remarks will apply
,la most qualities of woolen cloths, thong
'is there is sconsideruble irregularity in price
he Kentucky jeans are extremely dull, an
ho l,o the market well supplied. In the carpt
id IG trade there is very little doing; the Sc,
,is son of the year is unfavorable, but price
% are firm. Flannels are without an
ali marked change. Linens of the coars'
N. descriptions, the only description, in fac
- of American manufacture, are steady
the quotations. ~
he In foreign dry goods the market is III
We settled. The heavy failures of some In
RS porters have tended to demoralize NJ
he chases, and there has been SON
nd difficulty in relation to the withdraw
lso of goods from bonded warehouses by
vas large importer during the week, whiS
have tended to unsettle prices. I'll
of business in foreign goods Mt the presel
Iy time is limited TO the actual necessiti
No of the season.
.nr. Successful Business Men.