The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1873-09-27
WHAT THE PRODUCE MERCHANTS
SAY,

The panic does not seem to have taken very
desperate hold of the mercantile community 80
far and the indications are, judging from the con-
fdence generally expressed by the produce
Dealers cotton merchants grain dealers and others
In the various branches OF trade, that they Will all
be able to weather along without any failure
should no new and additionally greater crisis en-
sue than at present prevails. nov,t .F
HERALD reporter yesterday paid visit to
South street. Beaver ana Broad streets, and had
talk with many OF the merchants doing business in
that nelghborhood. They we're one and all very 10th
to be quoted in fhe, newspsAefs; several, indeed,
fearing that theif names Fppld appear. absolu.
tely refusing TO give any ilfori aen. N their pos
session as to ersftment or to ven-
ture any view Whatever IA fhe situation.
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The PetrOls um Dealers.
'There is no use talking to me, . said one OF the
heavy petroleum Dealers whose ONCE is in Pearl
street; II don't care to have it said about town
tomorrow that helped to bull or bear affairs BY
some word dropped which was not intended for
either the one etIect or the other ! win say, how
leum men. We think we can stand this crisis
just about as long IS any one; ior we
are not living In the original petroleum days, and
our correspondents are as easy with US as we are
with them" CT" 10 ltt ~ gq4|
AS q rule the petroleum men encountered de-
clared that the panic had not affected them ma.
terialy and that they could not as yetsee any just
ground for anything ike alarm in the trade on &C.
count OF the scare IN the stock market and among
the stock dealers generally,
what we want" said one Of them "is not to be
interiered with by "a G,.a% aih'
CILauEs AND COMBINATIONS
gotten up IN the other trades for general specu-
lauve purposes" ~
The Grain and Flour Dealers.
Among the grain and nour men 1t was found
that between receivers and dealers the best of
feeling prevails. ,, ..a..
Mr.. Moss, Of the firm Of L. Roberts b Co., Of No.
II South street. said that there had already sprung
up in certain quarters quite an export demand for
our; that -four had fallen fifty cents per barrel for
certain brands below the price asked for 1t last
week. }tttf
'Do you not think that gold going up as 1t seems
to be going today win have good eject on the
cit certainly iight very materially affect the
price OF exchange"
"What general erect has the panic so far had as
far as the grain market is directly concerned Y'
'Grain OF all kinds have been depressed: but
there is
CONFIDENCE ALL ROUND
In the trade and buyers and dealers have transac-
tons together just az freely and with NO more
wrangling over payments payne than before"
being spoken to on the effect OF the panic on the
trade, said -'Sales have, of course, been re-
ns, ana d ,1e e o. sgni Gratis rom the
siderable degree, the movement in the crops. For
instance, there are 900 barrels q week and
100000 bushels OF wheat at Chicago that are
stopped. But dealers are acting in the most liberal
spirit, and the matter OF payments is not maae q
serious trouble.n
"How so ~
"wen, mean II a man was good before the
crisis he is looked upon as Just as good as ever,
him otherwise II he hasn't got the money HANDY
TO make his purchases he IL given credit as usual,
and when payments become due anu the man Is q
little short he 10 not pushed to the wall The fact IL
there Is no alarm In the trade and every one seems
to be willing to stand by one another"
Mr.. Oscar Ryder, OF NO. So Front street. ex-
pressed views similar to those gwen by Mr.. smith
John A. McCreight, a miller from Harper's Ferry,
who was also met IN South street. said that 80 far,
down where he had come FROM the utmost con-
fdence prevailed and no alarm had as yet been
created. He remarked, however, that there were
m n whe weie very anx0us ~ yse
ment OF any kind made Dy the grain dealers In New
Mr. Hustled, Of the house OF Jesse Hoyt, was met
at the Produce Exchange, bnsily engaged. He was
Kind enough, however. op beng Intercepted, to
answer few questions pqt e nim y me reporter
inability Of exporters 20 ns6tste their S bills of Of
exchange against the shipment Of their. goods.
Inc vital point about the situatfon he believed to
De inns That II the panic continued and the Diff
cuity In the matter OF negotiating bills OF exchange
Dy tne exporters continued the movement OF crops
would DE stopped. "You see,' said he, at will keep
away nour nom US. The difficulty would extend Oil
round II the exporter finally gets 80 that he cannot
negotiate his bills OF exchange, and the farmer
would be unable 10 get his money for his grain and
then he could not pay MS storekeeper: and so The
whole thing would go round and make the situa-
ton anything but pleasant Still there Is NO alarm
In the trade, and everything is going on charm.
ingy. Yet think the government ofght to sten
In and get the country above the danger OF any
such contingency" 80
ain what way do you think
THE GOVERNMENT COULD GIVE REAL HELpYn
asked the reporter.
"Well, l think 10 could do II In this way. Let it
purchase three or four millions Of foreign bills Of
exchange and remit them 70 Europe, where 1t al
ways has to have plenty on nand for Its own uses
at She legations and Tor other payments that must
be made ny bills Of exchange. This wonld relieve
the holders OF bills here very much indeed"
u. W. CpleLAlDa Of u, W, Coleman 4 ca AZ tIQpt