The new North-west. [volume] (Deer Lodge, Mont.) 1869-1897, 1870-01-21
How NesO YorAes.s Regard the Ne,v
d'..a'' 'ff10f1GTGs Year. .s'''.. Fl ~''''

As the city 81 New Ydlk is the CONNER
cial metropolis Of the country, and has suf.
fercd as much as any other point from DULL
ness In trade, It may be interesting 10 learn
how the merchants there regard the business
prospects Of 1870 A reporter Of the Times
has interviewed leading dealers, and we shall
gtme an epitome Of the results. To begin,
the merchants generally appeared ''very
cheerful" !" and they consider that, now the
danger has passed, business will revive,
and all classes will enjoy prosperous year"
Even 1869 was not so disastrous year as Is
sometimes supposed. The failures were not
much more numerous than in 1863 The
aggregate losses were 40 heavier, If as heavy,
40 In the last named year. There were As
failures reported as occurring in December
last, and in December 1853, there were forty.
two. Last year there were about $40 full.
ures, and in 1868, there were 500. Few OF
the suspensions last year were Of great mag
nitudc, but as they were reported they Gre
ated considerable alarm Throughout. the
country. and this alarm continued until the
total liabilities were ascerta;ncd to be far less
than at first stated. The authority from
which these facts are obtained states that
there would undoubtedly have been more
failures, attended with very disastrous re.
suits, had not merchants generally discount.
ed the fall in gold and curtailed their credits
accordingly. Again, the telegraph has been
extended, and is so generally employed that
every pulsation at the great money centre,
is felt instantly at the extrcmitics of the
country, and merchants arc thereby enabled
to guard against any danger that might
threaten and 10 meet the shock when the
tidal wave" of business depression reached
.hem. The principal one of the largest
wholesale drygoods houses in New York
city, stated to the Times reporter that dur
ing 1869, the drygoods jobbing business was
as good as in any year since 1865, which is
noted as being the good year. The profits
were As good or better. and the losses less.
This is the experience of all large houses in
the country. Some concerns, the store cx.
penses Of which are very large and the outgo
great, have suffered in consequence of their
extravaganza, but these houses which regu-
late their expenses so as 10 leave fair mar
gin of prof. to accumulate, and thus save
their capital intact, have enjoyed very pros
porous season of business The same re-
porter learned from drug dealers, produce
dealers, grocery dealers, boot and shoe deal
ers, jewe!ry dealers, clothing dealers, hard
ware dealers, and plated and Britannia ware
dealers, that business had been as satisfac.
tory as could be expected, and tia. the out
look for 1870 was good.
The business of rcal! estate was reported
dull, but it was expected that about the
| middle Of the present month 1t would be
! brisk and that activity would prevail during
the year. The only interest which still is
| under cloud is the wool interest. That
seems to be temporarily paralyzed. Our
notes are extended enough to show that in
New York there is grestdeal of confidence
g to prospective business and that promi-
nent merchants regard the future hopefully.