, 1872-11-15

Ets Business Prospects.

tieo ny insurance, now much OF the amount Of
the policies will be paid over, and whether a
large or small sum must be charged of in bad
debts. Most Of the merchants are inclined, we
think, to oTerestimate their losses and under
estimate the Offset in goods, insurance and
debts: ;, They take this view not despondently
but With determination to face the worst at
once. In all that we have learned, therefore,
with regard to the business outlook, our state
ments must be taken as the extremely depress-
ing side OF Of the case, all notifications Of which
W Do lkely to put more favorable aspect on
In the first place, it will be we'll to repeat that
the seyerest blow falls upon three interests, the
dry goods, the boot, shoe and leather, and the
voc wool trades: The g1eat. grocery houses, the
i 6readstuHs interest, the fish dealers, the pub
hshers, practically all the great financial inter
ests, except insurance companies, and the retail
trade generally, were spared. While we can
congratulate ourselves that what We have to en-
dure 1a no worse than it is, We cannot disguise
ton to bear precisely because the three interests
destroyed are the very three in which Boston has
been the leading market OF the country. But
even as tue matter stands, there are many en-
couraglng facts that ought to be made known to
reassure all who have doubted whether Boston
can recover speedily from the disaster that has
fallen upon u.s.
The fire came at a most fortunate time for
the boot and shoe trade. A month earlier or
later, still moro two months earlier or later, the
t'~NA-h.
been crammed with goods. As it was, the diaas-
ter comes between two seasons, and not only so
but hnds the stock unusually light for the eea-
aon. In some of the warehouses on Pearl street,
the stock on hand WAS worth only from fge to
ten thousand dollars, where the average stock
would be two, three, OF five times az large.
There we're portions OF q great many stocks
saved--ln some instances, too, very consider
able portions. Nearly all the firms on Pearl
street were very strong, and it is believed
mn yCi11 fla nm
PEELED to suspend payments The run
ming powor Of tie factories is Of course unim-
paired, tie raw material is ample in amount, and
there is plenty Of time to restock before the
customers who usually anticipate by afew weeks
the regular Of the trade will but postpone their
visits until the time Of active trade, our boot and
shoe dealers will be prepared to meet them with
as good an assortment and with as large sup
plies Of goods as ever. Already the Wholesale
merchants in this line of trade have taken COM
bined action, looking to temporary aceommoda-
ton, and If the general prospect is not bright it
is ut least not ono to cause great depression.
The stock Of wool in Boston was, it is esti-
mated, worth not far from 81, 500, doc. But the
Congress street stores were largely commission
houses, aud the loss does not fall exclusively On
Boston. Something will be saved from the in
surance, even where the wool was owned here,
very large. When oil deductions have been
made it will be found that the destruction Of
property in this department, although very
great and celar1itous, is by 10 means GER
4he to AMOUNT DO Of than re5 cripple n the sors
was full average however, and
the article bears high price. Practically,
none of it WAS saved. The singular condition
of our wool market We have remarked upon
quite recently: The price here was 80 much be-
low that for which it could be replaced by pur-
chases in England, that We have been exporting
to Europe. It follows, Of couree, that tho new
stock will cost more, not only because Of the
higher price abroad, bnt by reason Of the diran-
uation Of the supply in the markets Of the
world. Still We do not learn that any Of the
wool houses are despondent. On the contrary,
they are energetically preparing to go forward
again; to resume as soon as possible, and to tide
over tho temporary Inconvenience Of the eitua-
tion with cheerful spirit.
The loss in the dry goods trade has been fear-
tul There was but one purely jobbing house in
tho city untouched Nearly all the Wholesale
them in the Wholesale clothing business, With
out any exception, have been swept away. The
too, we're rather fuller than usual
at this time of the year. There was an immense
amount OF insurance on the property destroyed,
but Of course only fraction Of it will be paid
over. The merchants in the dry goods trade
have not yet completed their arrangernents, not
even ascertained how they nre likely to stand
They are compelled to wait for each other, to
look over their books to learn what per
centage OF their insurance policies viii be paid,
and test the temper Of the market. But even
while they are uncertain what will be their
future, they are one and 4 all plucky and deter
mined. Very many Of them will certainly stand
come out Of the difficulty safely but seriously
tho a5oc Bat tie strong 90 can ap'o and
will exert themselves to protect the |
weak. It is their interest to do 80, and fellow
alip in misfortune appealB to them to afford all
The assistance in their power. On the whole.
while We cannot think the situation Of the dry
goods trade SO hopeful as that Of the others We
aged BY, the pluck and energy displayed BY the
losing firms, md re gladly believe that they,
rho know so much better than any one else how
lie trade stands, are justified in tukiug tho
hopeful view they do Of the present state Of
There ia one consideration that equally applies |
10 these and to all the other interests that have
suffered. While great many insurance compa- |
aies must fail, vast sum Of money is certainly |
% be paid out in Boston in tho settlement Of
policies. For time the Boston money market /
SIl profit at the expense Of the other money |
centres Of the country. The abundance Of the |
medium will undoubtedly be of ma
;erial assistance in securing accommodation
rom the creditors Of the losing houses, so far as
hose creditors reside IN Boston. Suppose, for
Instance, that the clothing manufacturers are in
iebt to the dry goods houses. The latter will
themselves be receiving more money in insurance
nan tney can use IN Their actual business and
hey need not, therefore, prees their debtors in
he clothing trade, who can use their funds to
e-establish themselves. The ultimate creditors
# the long List of mutually indebted merchants
viii see their own interest in suffering accounts
Q stand rather than in pressing for payment,
shich would inevitably be, in such q case, oniy
'artial payment. Thus, by natural course Of
vents, If all men reason out the consequences
u their acts, there Will be stay-law by mutual
onsent, not depending on legislation, and the
nost terrib1o consequences that might otherwise
e apprehended from the fire of Saturday and
unday will be happily a7erted.
Horace Greeley.
s,o Tork (Nov. G Correspondence at the Cincinnati
Commercial
Horace Greeley and Miss Ida, his eldest
aughter, came into the city this morning from
'happaqna- Mr. Greeley repaired to the house
+ his friend johnson, where he has eoiourned
Q much for years, and Miss Ida came down into
Broadway to do some shopping. Meeting her on