, 1873-10-30
t' THE MANUFACTURERS.
Special Dispatch to The Chicago Tribune.

Special Dispateh to The Chicago Tribune.
WOODEN MILLS SUSPENDED.
PHILADELPHIA, Pa, Oct. 29.-The large wooden
mills Of Aaron Jours, Germantown, hare aus.
pendsd, and will not resume before April next.
About 900 hands were employed thore. The OK
tonsivo mills Of Charles Spencer hnyo also par
TALLY suspended operations.
spteiai Dispatch to 7he Chicago Tribune.
Bosrox, Oct 2o.-There was much excitement
dence, R. T.. Of tho financial embarrassment
Of the firm OF 4. b W. Sprague All sorts of rl1-
nors have heen curront, and exaggerated re-
ports have been circulated. A dispatch to the
suit Of careful inquiry from trustworthy gourcos.
Tho Bpraguos own IN immense mill-proporty,
representing 100000 or 3,000,09o Bpinales,
which is free from mortgages. Several
Providence Steamship COMPANY and tic
Perkins Street Iron Company, which have not
been successful and are heavily mortgaged, are
controlled by thom aud the Firat, Second and
Globe National and F1anklin and orauston Say.
ings Banks are known as " The Bplaguo banlss."
Since the trouble began, Mr. William 8praguo
has not appeared at all in the business move-
ments Of the concern, but bis brother Amaea
has seoned to fight tho battle singlc-handed.
About three weekB ago assistance WINS asked,
The banks in Providence have no joint organi-
xation, but number Of their representatives
mat on Monday, aud it was represented to them
that II they would raise 81 100000 to relieve their
distress, an equal amount could bo raised in New
York through tho Hoyts there. A committee
waa than appointed to examine into the assets Of
the concern. It waB considered that the asseta
Of the spragues were greater than their liapili-
ties.
meeting OF bank representatives was hold, but
nothing waa agreed upon.
Last evening, another. meeting Was held.
Tho spragues have in these banks deposits
eboyo their cash assets amounting to about
$3.50, 900. This meeting recommended tho
banks to-day to guarantee them these deposits
il needed. Some OF the banks agreed to It aud
others did not. By this means the 6pragucs
have met all their engagements, and paid all do
This afternoon it wns represented that tho
Hoyts had obtained an amount OF
money from an unexpected source, aud smother
meeting was called. at which another applica-
tion for $1,000 GOO was made. The result was The
mako further Investigation, and to con-
/ sider tho question as to what must DO done.
Another mootlng will be held tomorrow. This
ia believed to he tho way In which the affaira of
| the Spragues stand tonight.
The Evanston Savings Bank three weeks ago
began paying out 425 at o timo, requiring sixfy
days notice for the remainder OF the deposit Last
Monday the Franklin Savings Bank established
aStnilar rule. Both institutions have large
thounts OF Sprague paper, particularly tho lat
| ia understood that Gov. Howard has appointed
| persons. to examine into the condition Of these
two ban1ts and If they represent hat tho business
ia uuaafo tho Governor will take official action.
! To-day thore has been somewhat OF run on
| tho Cranston Savings Bank, aud about sc, 600
| has been paid out.
{7o the Associated Press.1
| MANUFACTURERS OF LUxun1Ea.
NEW YonK, Oct. 29.-Plauo, billiard-table, and
ogar-mnnufaoturors, and other producers OF
Injuries are conducting their business with great
| caution. The large factories arc being run on
halt time ind with half their usual forcs, while
the smaller establishment lave, In tho main,
closed altogether. This course Is made mecca:
| aary by the financial disturbances, throwing out
/ OF work large numbers Of mon aud women. Ar
rangements arc expected to bo made whereby
most Of the faotoriea vii! he ab!e to keep thetr
hands at work, a. part Of tho time at least, thue
preventing great deal of suffering.
| uoyT, spRAouE co.
An emphatic denial iB given to the story, pub
| Ishod this morning. that the firm Of Hoyt,
| Sprague l. Go. is embarrassed. President Nor
riHon. Of tho Manhattan Dan1, Qua OF the banka
through which the firm does business, states
i that he roooived letter from Mr. Hoyt this
morning, saying that bis house is not in aly o1n'
barrassnont. Mr. Morrison Haya that iis bank
IL paying oil tho firms paper, as usual, course
Which would have boon continued regardless ot
the story aa published.
Tho mercantile community oxpress themselves
II strong terma on tho great wrong done and tho
Q!1m ttf1u ~ Ul!uiH1Ah ny tllo t'upAs
cation Of ill-considerel dispatches. Tho story
this morning that announced the imminent tan-
gertn which tho great house Of A. and ". .sprague,
Of Providence, was H., said their liabilities wore
double their assets that they wanted loan oi
two millions, but could not got It, aud that fail
uro waH inevitable to-day. Tho facts are, owing
to tho nnexamplod strlngonoy OF money. anG
difficulty III making collections, tue firm became
in need Of temporary relief, llko almost
eyerylargo firm Ia tho country, aud mado o re-
quluItlo,i upon Providence banlt. All 1nootint
Of The presdonts and Directors OF the banks
ca1od to consider the Request 1t was eatiHfaokorl-
ly shown TINT llle asaeta Of the firm wero owe,
SlA.000 000-saId to DO q low yaluation-and tllt
liabilities about 81 to00,o GOO, complete reyersa
Of the caso published th|a morning. This ex
hibtt having been nlado, tho Providence bankt
pledged tho a1. 900 900 tliat WAS wanted to carr,
tic firm through ~ safety, and for tho present
every danger OF temporary suspension Ia re
moved. a meeting of tho friends Of tho cit,
house Of Hoyt. spraguo 4 90. WAS held tlliI
morning to proffer any further ASSISTANCE !
rnnv f7ooa not ApffDtt1ntn Any furt1,nr tr0nk1e