, 1870-03-31
HEAVY FAILURE.
.Ynnaes II. Prentice, tlsc LnrEc~s 1aIAt
ttuuufn CfuTvr In gEc World. 8n<a1-
ycut-0ne Thousand Persons tut
OF I.MDg pY NlCn1.

or 1.MpIoy uacn1.
f'run. tAt Eraeiisn Eniun, NurrA 26e
Mr. James Il. Prentice, OF tiiF city, ti'e
larsest Lat manufacturer not only ln the nlted
States bus in the weEld, has ta:led; Ets aatil1-
ties amounting TO about $500, ,UA. The i;ulne-
diate cause Of tls ,ai-astcr WAS the recsnt fail
urc cf Mepsrs. Jenki.s, Vail 1 Pca.oly, OF
New York. Mr.. Prentice having acccr.atcea
OF that firm tc TIC amount Of o:er S.*kl: :t0o:
The firm named were LIE a6euts for the sale cf
the Bosr'cn Patent Een3esa1d sca1hiess fsi
pAirt. WHICH was extensively manufactured 5y
Mr. Prentice. 1t was thus that h. bccstae i'll
VOWED with Mess1s. jenkins. Taa & Peabody.
and wktn they failed, c1usiug loss to hi1 of
oscr S2Ao, 600, the pressure. III the prsee'a
state of trade, was 100 much, and be was COM
rtlltd to tnaounee himself Unable 70 u.eet his
liabilities. ard to suspend operations
1Ee full extent Of Ar. 1'renttce's liabilities
are not known as yet, and consequently the ul-
timate result cannot be ascertained.
Tie news CT this failure comes sally to
Eany residents Of this city, who have known
tr.e1 md r1ibsie-sr:5ited citizen, and more
csrecially viii II re Tel. by his one thour1nd
tnl1,!oyts, whp have thus been th1ewn out 81
| employment To Mr.. Prentice it il heavy
! blow and he feels it severely.
alr. Prcutice hes tifec factories-one Nt the
| coruc, Of Willoughbv ard Raymond streets: e:
l another IN Sostrapd avenue, between Myrtle
l and Tlt:sEing ayeEuGs; nntt 4 tLir1 at SO1wak,
Corn, whict combine the most extensive hst
manufacturing establishment in the world.
The Rayuopa st7eet factory WaA formerly
owed and run by John H. Prentice i Co.
the principal partner being i brother Of the
\ present owner. When ]. H. Prentice & Co.,
| failed in consequence OF the genera! dis
| aster Of 1857. James Il. Prentice succeeded to
tie tuzincss. After considerable uphill work
and tome trouble with hatte1s' tr1des~unioner
by which be refused to be dictated to, although
| uillirE to pay Ills employees iberany, he Euc-
creded in establishing thriving business, and
Wien the wss closed aud trade revived. he did
trade. He a1wAys sold his goods at auction.
For the past four seate, however, the hat
trade has leen comparatively dGll aud prices
have teea low. Only for : short time each
eesson would The prices obtained give anr
| rroft On The coet ct Manufacture, and st many
falts the prices did not cover the cost. Dur
irr'the present season the trade has been very
| dull. Some iaeA NAY be formed Of the state
| Of trsde from the following report Of the sale
Of Friday lxst, the prices quoted being per
Weol h.ts. mer'e p1ain. s4.ss to aa,75; mems
farcy, 5000 to @l3.ss; youths fancy. e: IS to
| ss.15; loss' plain, :5.75 10 s1.25; children .
Elsin, 55.:3; to sG-:.5. Caeeimete, Inen'e plain,
200 to 511.0o; mems fancy, LEO 70 e:l-o0-
rea1l. silver, and b1ae1 bearer, S14.e5 to
Sle-e5 to eaO.00.
alr. Prentice held two auction sales each
week, selling from 80 to 500 Cases at each
Rale. Gases contain from three to siK dozen
bats each The sales were always Lively, the
arctioneer not being permitted TO dwell long
en goods, which were sold in spirit OF enter
rrisc and Independence rarely e9uslled As
! The sxles were held ii noon. Mr. 4featce
a,vsys crowded lunch for his customers, and
Lis erreads we're formerly very dne.
Net cn1y did Mr.. Prentice make felt Es!ts
frcn The raw material, and seamless skirts,
bnt e .lee made q imitation Il a..s, stsw bat,
IL summer. The Nodena ia watez-proof,
As ctated, 1000 rersons, consisting Of men,
xcucn and children, hare been thrown out Of
employment. At one time Mr.. Prentice CT.
rlcycd !, SEQ hands, bat trade being dull hia
ferce Was reduced
The factories, stock, and material, owned by
N1 Prentice, are valued At more than $1,000,
oCo, being moro than eufident to curer Lahli.
ties but II cold to PAT debts il is doubtful il
tie property would bring ANYTHING Ike its fuI
value. In view Of this fact, md tEat the ests..
hshuctt has and can b. made soarc OF profit
By being run, md also give employment to .
hsEe number u persons, it Is probable that !.
settlement viii BE- nade with the creditors, ant