The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1868-12-31
THE DRY GOODS TRADE.

TDe dry goods market mas been In q state OF I'M
wonted commotion throughout the week which has
interviewed since the writing Of our preceding weekly
review, during which failures and OF failures
have been the distinguishing characteristics. For
some time back sunuIy vf the leading this
branch or industry have, we understand, manifested
considerable zeal In selling both woollen and cotton
fabrics TO some OF the large clothing houses on four
and six months credit at something below the mar
ket price generally at about ten per cent below OF
taking notes for the same, anf then getting
buyers to discount their own notes. This procedure
has frequently occasioned surprise, but as general
thing the houses doing this have been re-
garded as among the strongest in the trade. But
now that the failure OF some OF these has occurred
the secret out. Some two or three OF the leading
obbing houses have gore up,n while several others
or less note have also been driven TO the wall, and
others still are either reported suspected to be
IN an uncnviable position. 1t would be strange, in
Deco, snouc me extraordinary snr1nKage OF both
wOolen and cotton fabrics within the year passed not
result In further disaster 10 the trade Hence il will
not be surprising ii the trouble which Is beng
experienced should eventuate IN further failures and
stn greater disaster to the trade at large. Still,
there are no evidences OF panic In any de-
partment The hardening condition OF the money
market which renders II difficult even for the
stanchest houses TO obtain accommodation with
any thing like reasonable facilities or on reasonable
terms operates Numerically opposite TO the iDte-
rests OF the dry goods trade at this particular juno
turc as the failure OF few prominent firms in any
branch OF trade proverbiay engenders distrust and
occasions Tightening Of the purse strings, to the
manifest great disadvantage Of the entire trade.
Hence 1t will be surprising If many more business
men are not forced to suspend before the termina-
ton OF the financial whlrlwind which has burst
upon the mercantile pubic and which has already
forced TO the wall OF the reputedly strongest
houses in the dry goods tade However the troubles
already experienced and those pending may
terminate, II is to be hoped that the valuable lesson
which may be deduced from them will not he lost
sight of. The fell spirit OF specuIation-tnat most
prolific source OF trouble-permeates every branch
Of industry; and, Notwithstanding the fact that
mate business and the speculative mania, from
which spring nine-tenth OF all the financial and
baneful influence throughout trade circles all over
the country, working ruin where all would other
wise be prosperity and thrift. IL is therefore, to be
hoped that those Of our business men who may have
been tempted TO f0rsakel legitimate business for the
more hazardous, liz more dazzling chance or ATTAIN
ing speedy fortunes In the field OF speculation will
learn wisdom from experience, and, pronting by the
sad lessons OF the past, return to the principles OF
legitimate commercial pursuits.
The volume OF business in domestic cotton goods
has been fair but prices have been irregular, many
lots having been sold for what they would bring,
while others have sold qlite readily at fun and In
some cases rather better prices. Bleachcd shirt
ings, brown drlliings abd the leading brown shirt
ings have all sold fairly and prices tend In favor OF
the seller. Gnghans, ciecks jeans, &C., havelsold
slowly and prices are barely sustained. The market
in general, Is comparatively steady at the present
writing the apprehension or further failures exert
ing less influence than would reasonably be sup
posed.
tie change. the demand continuing moderate while
values about the SAINT.
the Providence Printing Cloth market last week
was quiet. Sales b. pieces at 7sc for 66 by 60;
SIC SIC. for 90 by Ga ind SIC. sc. for GA by ca
a fractional decline. The sales at Fall River were
90 pieces at about 9cor standard ga by a. with
the production sold as IA ahead as February 1.
We append the current quotations, some Of which