New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-15

Wec1sccSst osraiSos hs winter, unies. 'i the chef
many others that might be addnced improbable
The decline in the price Of cotton - favonpiss
what they think H. its lowest point. some Of them
WIN probably put their mills full time again. Cotton
gland has raised ns rate to an unusual point,
IN order TO contract business In England, ana
try. K high bank rate means near low cotton
Moreover, shippers OF cotton TO England nave lost
Largely their shipments for the last six weeks
That fact OF course, depresses cotton In this country
1t is uncertain how low Prices for the differ
cnt grades now range from i2i cents 20 Is cents pe
pound Planters are bringing cotton IN from the coun
try and selling II for what they get. think me
cotton be laid down in Providence at la cents
Manufacturers often accumulate overstock OF cotton
yarnh llings and rovinCs In their running and man,
working up that extra stock. The Balou Mills nave
been using ONLY their extra stock OF yarns, rowing anu
filings for the last two or three weeks. -,
prices of goods have. of course, declined materially
during the panic print cloths and cotton goods are on
material is such that manufacturers can s manuiac-
ture profitaby 81 tho reduced prices aud use all tne
capacity II the demand were not 40 duh just now hna
collections so hard that they would be Obliged
10 pile up vast quantities OF stock, and wouIa
md II difheut to raise money enough or c in
penses Woonsocket mill-owners found some trouble 20
getting currency enough FOR wages buying currency ~
per cent premium. All OF them have paid IN csSh ~
full and promptly, and there are few Rhode isanu
great Mauvlle Cotton MILL with ITS thousand hands Is
the chief example OF failure 1t now closed aoge'nS
and wages have been PAID partly In banK oruers III
management in an unfortunate position. Ihe con
is immense, and call for very heavy pay nenI
came In just at the very worst tme aud they
were obliged TO put of payday some DAYS
and then pay only In part In cash. Inc opsIa
tiyea OF the mills which have been shut nav nav,
rot yet been dispersed 10 great extent Jhey uoh
know where TO 90. All the manufacturing towns arc
full. Some OF the French Canadians are going PACK 70
Canada where they live more cheapy during tno
Winter than here These Canadians have TO Rhode
Island troops OF late years. and form large part OF
the millwOrklng population We have many OF tnen ~,
mills Generally speaking, they are quiet, thrifty
Glass; tractabe and easier 10 teach tnan the iln
When asked about the sentiment among manufacture
as TO the Sprague embarrassmens, Mr. BaOu sid tnat
there is apprehension expressed. 1t Il th0nght IN
credible now the trustee arrangement le acccpieu,
that considerable body OF the creditors should desire
nJure their interests by throwing the SpTaguee
bankruptcy. But their bankruptcy, though IL
might distress and trouble IN the direct eou
nections their mills, could bring about no generaI
shrnkage OF manufacturing values in Rhode Island nor
would manufacturers general be involved by H. Inc
possible effect OF the Sprague failure mas DeeD eno
mOusly exaggerated IN NowYOrk and elsewhere. All
Rhode Island manufacturers were prepared Tor long
III advance They knew that with the fashion In winch
spragues carrying business, and with inc
Oanh which they were obliged 70 procure, AT
excessive interest their failure could only DC question
OF lime, and very short time too.