New-York tribune., 1873-07-29

Country dealers had learned that they could send
orders by telegraph aud supplies by rail- The
present condition Of the trade is only one incident I'd
the revolution which is being effected oy
steam and telegraph. The same sources o'
information are in the hands OF the many
which were formerly in Che hands OF the ic"
and business can never he reorganizsd on s ola pss
Competitlon in China has been increased through faci
iues afforded by English capitalists by means OIL uoo
meptary credits :" thus small dealers come III "ii0''
competition with the large, and trade is io''ou 80,
healthy limits. Chnanlen are oi'en '"o i 80
pera, inv oicing through foreign houses ioi VI" ~ IN
obtaining English credits which wouiu no. Oo
tnen directly. Mr.. Nelson thougnt 'l'. '"0 - e.
stood the shock remarkably well ana Una. o"s n,0
f,,I,rss v,os a very good showing under the cireum
stances. ,, C,..o r. IA tea
,,r told the reporter that there were 4s,V'''oVV
mounds of tea on hand on the 2Sth OF June, io'- ~
h,bIv not less than 100000 pounds wneh tno ",i
6rction took place the 1st OF July, as nothinR ~
- -, ,,t Some sales had been made, but )ooDers
~, ,nortcrs kent their stock in bond. reduction Oh
,,s nor nonud 10 the consumer ought naturauy W
have led 10 large increase in the ueInanu' anu -
action of the dealers based on this eNPeo''io"
Rut tho country dealers commenced SIX moh'iS pio
s,,, IN trim, and shape their business 80 as 70 get ru
NJ their stock before the reduction lhe "Ei'"'io "
a.. ,,bcc, in Congress all through the session OF 1911
,oao II evident that the measure would utlha1eS 'o
odo,ted and the same causes operating abroad sun, I'm
uiaipd impOrafOns. which were fOr lhe Yetr enu.le
lime l. 1872, 5i6250)O pounds against 4.o'VVy 10
Dreyions year Dealers never made Dettet
than they did last year, Dut the Oi"oo0 AZ" "''
merchants mlSled.
REMOVING OF THE REVENUE FOR ONCE DISASTROUS
Nfr Cibbs man of large experience in England sald
that there never had been Instance there IN WHICH
ir,norters had not derived some advantage from
change in the revenue; but the rule failed IN ts case
He sod that il would be difficult to say what percentage
afa a n
what the losses would aggregate; some men au Dee III
the right position 10 take advantage OF Ihe uV'iuo,
while their ueghbOrs might be Loaded up, ana Ose
heavily lie believed that the trade had pecn SoVu III
some disaster 1854 and still worse IN 1891 DeaerS are
now acting cOnservatively and are sending OUT Otut
with srrct limits 1t will take some months 10 Set INC
business regulated. 1t Is not prosPeUuS uiS !o'''
th0ugh IL IL an Improvement on that OF loi3 80,
NJ f. Power tea broker &C No IL Nd-sJ, sau V,iaS @
hiring the latter half Of 1871 and etDe hst nan OF i9iz
c0intTv dealers ordered Ouy sufficient quanles OF Yea
10 supply immediate wants, owing to tne aglIalon III
t mat fine entertained the idea that they coqu get as
mnch after the taken oil as OeIOrc-Dy corner
inc the market. The first start was enCOur2Glg, ana
nTtfv full prices wert realized, but the country tTaue
seoueutly there accumulation or STOCK, anu tne
suul. Of carried over mtg the last SIX ut
of 15-1 In addition 10 this the crop came aoIb 80 list
bv railroad that holders had 10 force thef goous on e
MARKET regardless of loss in order TO meet their draitS
importers have forcing their stocks since Jan9ay
las, at loss Of ut least % per cent Ihe uOuDes WnCu
grew out of the trade itself were greatly AGRA 'dtt ~
fbe tiphness OF the money market Anew grades ol yea
are high when they were paylnS la|S @ u,9 pu
lere has been great depreciatlon IN O0long an9 Oth
bIack teas. Low and medium grades nave 1tlleh on
from is TO % per since January dst ana Oh o0 W
81 per cent since the duty was reduced