The New York herald., 1873-11-13

I Lewiston There are about 3OO 900 spindes In this
city, all OF which are now running. save about
So 900 spindles in q new mill, not yet In running
| order.
TUE EFFECT OF TIE PANIC
in the money market has been very lightly felt in
this community as yet. The Maine Yankee Is still
confidently fattening his Thanksgiving turkey, ex-
pecting assuredy 10 have day in which to eat It.
as ever before.
In this connection q word or two OF
the history OF manufacturing and the city
will enable one the better TO understand
the situation here now. In ls47 there was incor-
| porated company OF Boston capitalists which
purchased almost the entire area now occupied py
the business and residences OF the city. togethcr
with the land on both sides the river in the vicinity
OF the falls. They proceeded 10 the construction
| OF canal, now about half mile IN length ana
sixty-four feet wide with two Intersecting cross
canals forty feet broad The fall OF nity ieet en-
| abes them by the aid OF these secondary canals 10
use the same water twice In the moving Oh ma
chnery. Since the organization OF tne water
Power Company the city has been rapidly pros
| per,nc and growing, until to-day there
are seven and half millions OF capital
! interested in the manufacture OF various
| fabrics OF cotton and wool in this city. in fifteen
colossal mills, built OF BRICK. With the view OF
! ascertaning the situation here your correspond
ent has mingled freely with the manufacturers OF
this city and suboins the results OF his inquiries.
The agent or one or the heaviest mills Is directing
some improvements on his corporation, but readily
THE ALL ABSORBING QUESTIONS.
'To tell the truth" said he. Il have not thought
crisis. our people are inclined to run just as
usual, and take advantage OF the state Of the
staple is a good onset to the duness Of the times
and We feel that goods must be convertible INTO
We are. fortunate in having plenty OF
funds. The capital stock OF our Lewiston
manufacturing corporations in other cities, and
that enables to hold out longer in q tight money
ee hew low coon is Why p had peny Of
spare change I'd as lief put 1t into cotton as any
thing. Our people argue that the demand for
LIGHT TO BREAK SHORTLY.
don't believe this uncertain state OF alalrS viii
''what about the cotton speculatorsY
"Wel they've gone to the wall and manufac-
turers think that's one good end gained by the
panic. We've all light stocks OF cotton now, but
when we enter NJ the M market again !. WIN @ pc ON on
the fictitious values cornered' by the sharks othe
cotton traffic."
"Wel, as for that we haven got any piles that
scare US. We'd much rather pile them three
months more than to sell to firms that cannot pay
except in promises. We're pretty fortunate in
having plenty OF funds Only the day before the crisis
opened capitalist came 10 our treasurer and said
Il wish you'd take $3.50 900 of me and give me your
note.' The treasurer said he didn't particularly
need the money, but the gentleman was willing to
urer consented to take IT, The next day Jay Cooke
Co. collapsed, and naturally the coners of our
corporation previously quite generously supplied,
have not been any the worse for it.n
'What about the matter OF labor ?"
made any reduction either in price or time, and
we don't intend TO forestal the natural results OF
the laws which govern these things
altogether, then, what do you think OF the situ-
alton s''
''0ur position is that OF armed neutrality. We
belong to no rings or combinations to bear or
'Dulr the market. We are doing
LEGITIMATE BUSINESS IN LEGITIMATE WAY.
We goods l thai m ~ go
and certainly will be convertible into greenbacks.
The mills OF Lewiston have always had the reputa-
ton OF running through thick and thin. There
never was but the present crisis that hadn't an
end, and rather think this one WILL
Shortly your correspondent meets a plau sble
looking Frenchman, near one OF the mills, and
.'Do YOU work in the mlls9'
"oui, Monsieur; dat Is just vat does do.'
"Do you get on any better here than you did in
Canadag"
.'oui. oui," with shrug OF the shoulders; ''me
does get de tres good wage. Dey does say dat
de winter is comm tres pauvsis, but mine over
seer says me do nave much to do.N
There are 1000 of these French people at work
in the mills of this city, and they can feast wnere
a Yankee would starve. Given bouillon, blood
pudding, black bread and conee and they are
happy. 1t IS estimated that they can live for
lar discourse on the extravaganza OF the
times is thrown away on these people, They send
money back to Canada to pay debts or pay the ex.
penses OF friends there. Evidently there no hard
winter IN store for people who are so ar out OF the
popular current OF extravagance, let what Will
''Borvo,u," says the Frenchman, and is OF.
stalwart ireeborn American citizen is at hand,
his coat bearing the unmistakable pen-eather ex-
terror which belongs to the operatives IN cotton
mills and your reporter enters into conversation.
tlmesYr
"Cheerful ~ says he. Tdont believe the worlds
goin TO the devil G jest ~ now Ny corporation has
tribute it. Ii get my 81 a day every working day.
They pay me every month reg'lar's clockwork,
and If ybody finds iault at that and goes around
crying hard times. then he's made up OF more
growl than am, that's ALL"
How DO the operatives feel about Ii ~
swell, once in while you see one who's bilious,
but most OF 'em say they think the mills Will run
worse to borrow trouble than II Is to borrow
money, and
Dos'r SEE WHY 'rAIsr %. K ANYWAY
Two girls are passing and one or them says to
the other, They say the mills is gon to keep on a.
runnin', and l declare believe next pay day IN
brilliant as the average political economy we get.
Proceeding TO mill further down the canal,
lone OF our heaviest Boston owners was here last
week, and he wouldn't hear OF shutting down any
way, He thinks twill shortly blow over, and so do
ting down or curtailing production. 1t costs too
much panstaktng to get help that Is skilled TO let
them slide on every pretext; and think that as
cold weather approaches the domestic goods which
are those chiefly made in Lewiston, will be In de-
mand. Why, see by this mornings New York de-
spatches that domestic dry goods are quite active
oar goods are still forwarded to selling agents as
usual.n
"When does pay day Gomez"
This week, and the money is all ready to pay
every man, woman and child OF em. This dog-in-
the-manger style OF managing BUSINESS he con-
manuacturing.n
'Is all your machinery movingS" your reporter
asks the agent OF the Androscoggn Mills.
'Yes, and within lew weeks we've started
thirty new looms. 1t seems to me that 1t is
SAFE TO MANUFACTURES GOODS now.
falling market Will find bottom, and con nsider-
ing the tremendous shrnkage in values OF the past
two months ana the correspondingly heavy reduc-
tlon In the volume OF business done In the country
1t seems TO me that the immense stores OF green
backs to be let loose as soon az confidence returns