New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-31
THE FURNITURE TRADE.

THE DEMAND SMALL, AND THE MANUFACTURE
NEARLY sToPPED-A LARGE STOCK IN THE MAR
KET-GLooMY PROSPECTS FOR woRKINGMES.
Further investigation on the part OF TRIBUNE
reporers into the state OF manufacturing interests UNI
der the prevailing depression In financial matters
has been made. Among tho furniture dealers ana
manufacturers general depression was the rule Mr.
Phelps OF Phelps DOremus Cobbet No. 226 Canalst'
said he had passed through several pancs before ana
bs experience had taught him wisdom enough to pro-
nara 10 acme extent for sudden coming OF the pres
ent one He had felt for months before the breans Oh
the sorm that there was too much investment In enter
prises that were not legitimate. IL seemed 10 hA'o
became the rule for every merchant VINO had 10"
thousand dollars laid aside which he did not immed'
aeiy need to take ny" In the street with It, 5peou
laion in bonds OF unbuilt railroads had been common
with business men all Summer. and he had fet some
thing in the atmosphere that boded financial evil Con-
sequently his had prepared TO some extent Tor u
They had always bought for cash. aud now they Degun
reducing their credit sales and shortening stock They
had factory at Bridgeport, Conn.,, where they ord-
nary employed 200 men. They had reduced the number
to So They had also the contract Ia the furniture de-
partnent OF Sing Sing prison; and where they had
the option OF working from rs to $50 mon. they were
working only IS. They had aso discharged o lew OK
their at their factory in this city Tho orders were
coming very slowly and so far as 1t was possible they
mado up only enough stock I'll them They had had no
nturo departments always suffered In proportion as
other Industries were affected. May the best month
for the business because people usually won't to house
keeping in May, or renewed tho furniture spoiled on
moving day but october was the next and che busi-
ness OF the month year greatly behind that OF
last year. He thought this panic likely to be much more
distressing than that OF 1851, and felt appre-
henson for welfare OF the poor than before.
Mr.. Moore OF the firm Of Bruner & Moore OF No IS
KIngst said that trade had fallen of wonderfully
number OF orders had been countermanded. some OF
them after the work had been nearly completed and
others tho work which had required very skifu and
careful handling. The firm had city and country trade
but both had been seriously Affected tho city tra1o
more seriously than the country They had discharged
none OF their up to the present time, but could not
see how they could help doing so next week. They
would arrange II possible. to keep their men on half
time but 1t was doubtful II that arrangement would
provo satisfactory either 10 themselves or the men,
October WAS the best months OF the year for the
trade in ordinary times but the present depression nau
entirely ruined the prospect especially tho financial
disaster came suddenly 20 leave them no time to
prepare for IT, Mr. Moore thought the stock OF furn
ture on hand in the city very large. bat ha firm
we're keeping "a little on hand as possible
Mr. Watson. Of the Hrm of Ingerson, Watson & Co on
the BOwery said that they had 100 men employed at
their factory half time. Ther trade was seriously
depressed IL was chiefly local though they mad some
trade with the Immediate country ndghbo.hoods. The
business mi WAYS falls off In December and remains dull
mill March in the ordinary times, and under
the present thought there might be no bust
ness whatever transacted during tho Winter. There
had 80 far fall In the prices OF fr1lure, De
cause OF the nigh prices which skilled labor Ia the trade
commanded. The firm was making no moro STOCK, ana
was carrying credit business except " very trust
worthy old CUSTOMERS
C. r. Olpnon & Co. state that they doing less busi
mesa an formerly especially In the matter OF selling
furniture by instalnenGs. TneI have made something
OF specially OF tnat but now they are more careful as
TO the ability OF parties 90 pay. They Keep no STOCK
ahead beyond their absolute needs Thor sales are gen-
orally 10 people poor I'm moderate circumstances,
who can afford TO walt their furniture and cannot
risk waiting for food. They do not manufacture furD
ture and have hands except In the store.
: barnett & Kenny OF No. 228 Hudson.st. said that
trade yas greatly depressed Their men were working
only on half time they believes nearly every firm IN
the city had been compelled to reduce the time number
OF their working force. Nobody seemed 70 have any
money 70 buy with aud IL was ruinous To allow long
credits The middle classes, people on salaries or
with amounts put away IN tho bank, with whom
the firm mainly dealt. unwilling 10 purchase any
moro furniture than they absolutely needed when there
was every Indication of hard Winter threatening.
Kitte Co. OF No 40 Canal ST. are engaged IN the
bedding alone, anu tho clerk OF the firm stated
that the depressed by the panic pretty
have bedding under the prevailing tghtness OF the
times they either used old bedding longer than they
otherwise would or where they would ordinarily buy
hair mattresses they content themselves with husks
Mr. Ryer an emplOy6 OF W. II. Lee OF Canalst In the
Mr.. Lee said that the firm was doing rs welt
this October last There were no orders cOunlermand
ed no men discharged aud lack VI orders coming ln