, 1873-10-11
FINANCE BUSINESS
Effect Of the Late Panic on
the Chicago Whole
sale Trade.
Our Merchants Report a
Satisfactory State
Of Affairs.
4 Very Healthy Demand for
Goods...Prompt Remit
tanCes.
New York Banks Honor ALL De-
mands for Legitimate
Purposes.
No Formal Action Yet Taken
Relative to Full Re-
sumption.
Cincinnati Banks Commence to With
draw Their Loan Certificates.
Numerous Strikes Among the Phi|adeI-
phia lron-Workers.
4 Decided Improvement in Internal
Revenue Receipts.
No Formal Action Yet Taken
Relative to Full Re-
sumption.
Cincinnati Banks Commence to WITH
draw Their Loan Certificates.


Now that the decidedly uneasy feeling which
prevailed tn banking aud business circles for a
feSorish fortnight has subsfded, tho naturally
arising speculation Is to whother tue effect of
tho tar which the commercial machinery Of tho
Western metropolis and it's enyirons, tho West
ern States generally, sustained IN tho panic, ie
still felt. With Wow to finding out whether
tho merchants Of Chicago, with thoir accustomed,
buoyancy, had overcome the effects of the,
trouble which, although now hardly mentioned
was. week since. the ono absorbing topio ot
conversation, TRIBUNE reporter WAS yesterday
detailed to mako visit among the wholcsalo
businessmen Of tho city and elicit their opinions,
OF the existing state Of affairs, ard vewB as
to the probable duration OF tho effect of the pan
10 upon our commerce. Tho first warehouse ys-
tied by the reporter WIS TINT Of Messrs Towle, l.
Ropor, Wholesale grocers. Here Le mot
Mn. ROPER,
who at once expressed his willingness to be in
terviewed on the subject. Tic following con-
yorsation ensuod:
noportcr-h1r. Roper, now that things h..vo
quieted down generally and got running in tho
old grooves, people will want to know to what OK
tent, If any, the trade Of Chicago has suffered
and may be still suffering from the late u11-
pleasantucsa.
L
know il at their nervico. Atpresent trade seems
to DO steadily improving. This may arise from
the fact that the Exposition ia bringing people
from the surrounding country to tho city but,
from whatever Bource tho improvement comos, I
can Say TINT tho present aspect of affairs ia most
satisfactory and is much better than what an-
tlcipatod ton days ago. Last week there were q
couple or 80 Of dull days, but have Bcep 1t
dulor at the same time of year In previous buai-
ness HoasonB.
Roportor-Theu you consider the present state
Of affairs quite satisfactory
Mr. Roper-Quite 30. 1t very seldom happens
that all branches Of industry arc simultaneously
enjoying full swing Of prosperity, Sometimes
the agricultural districts show q falling or; ut
others, tho manufacturing; at others, tho min
ing; but the trado OF Chicago is 10 extended TINT,
when one OF these fails somewhat as source Of
demand, the othora mako up. This Inns been my
experience in other years.
Reporter Then, suppose, tho demand from
manufacturing SOURCES just now is lesBenel7
Mr. Roper-It must be; but the agricultural
districts arc we'll axed. They have good crops,
and must become buyers OF staples to sufficient
extent to keep trade satisfactory.
Reporter-How was trade before tho panic?
Mr. Roper-Firat-1ate. And so it was during
the panic. It WIS not felt by us until week
4fter it struck Chicago. Az compared with tho
trade Of the Bame timo last year, tho buBincse
three woeks ago was much ahead,
with before tho trouble2
hlr. Koper-It has fallen of little.
Noporter-uoW are collectiouB2
Mr. Ropor-Oollcctions are getting botter
slowly, but consider them much better than at
one time l feared they would provo,
Roporter-As far at can reasonably be judgod
what do you think of tho prospects for this
Mr. hoper-Unless something happens to sot
things back, think trade will continue good
Whatever branches Of industry may be atil
hampered, agricultural labor is well paid, and
az long aa that IL tho caso, the city must do bus
iness., Il liberal policy is pursued all round,
/ Ill will bo well.
A1R. srRAuuE.
1T THO ., reporter neSt called upon tho grocery
cusuod:
hepoEtor-Aro the eGoota Of tue recent panic
still felt in your limo Of buBinoBg2
Mr. Spraguo-The volume OF our trade IL
slightly diminished as compared with that before
tue crisis. This vas probably caused by tho
| calling in, during. tho excitomout, by several
gregory houses, Of their agents.
Heporter-Did you call III your ageutB?
Mr. spraguo-Wo did not, and tic result ia
that We are now doing, relatively, more business
than those houses Which did. | had faith that
all wag - rs going 70 como out right aud tho reBult
heporter-1ow do you tiud tho country NOR
chants behaying7
|. Mr.. sprague-RomittanceB aro coming in as
well aa uaual. OccaBionally parties take atyal,-
tago of tho recent condition If afTairs, but they
are tho exception, and not the 1ulo.
ltePorter-How WAS buBiuoss before tho
panic
hir. sprague-Juat before tho panic trade was
heavier than the year previous, and the promise
then NAB OF much lcayior trade than WAS done
last Heaaon.
heportor-,Do you think the Exposition Is
helping tralo2
Mr: bpragus-some OF the business VIC arc
now dong III duo to the show. Ne have sold
gooas to parties in the shop who would not
probably have purchased otherwise.
Neporter-What III tho present prospect for
hr. bprague-I look worry hopefully to the fu-
tnro. stooAa in tho country are light, and, with
salos Of gran tho coury % me,ohauts u must 4'D be.
como heavy purchasers OF city stables, They