New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-28

INDUSTRIES IN SOUTHERN MASSACHUSETTS
NEw-BEDFoRD AND ITS vICINITY-EAsTERN CArITAL
INVESTED IN WESTERN ENTERPRIsEs-No MANU-
FACTUREs STOPPED IN NEw-BEDFORD AND FEW
DIMINISHING PRODUCTION TO ANY SERIOUS TX
TENT-TIIE CONDITION OF AFFAIRS NOT GENER-
ALLY UNAVOIDABLE NO SUFFERING ANTICI-
PATED.
IFRoM SPECIAL CORRESPONDENT OF THE rRIBUNE.l
NEw-BEDFORD, Mass, Nov. 22.--This quiet,
sleepy city has felt the effects of the crisis but differ
emily from such seats Of manufacturing Providence
and FAN River No remarkably great number of work
people here yet out OF employment, nor has airy
suffering been brought TO light in this charitable and
wealthy community. TIE two great corporations OF
New Bedford the Wamsutta and Potomska mills, which
employ over 1000 hands, have not reduced wages nor
has the latter cut down running time The Wamsutta
mills have been running four full days per week all this
month The operatives sustain themselves by the wages
they get from two-thirds time without outside assist
ance It is upon the wealthy meD the capitalists, that
the troubles have had most effect. Most OF them are
largely interested Western enterprises such as rolling
mills in Chicago, Milwaukee Wyandotte, and Detroit,
Michigan railways and numbering. Almost the whole
Of the stock of two Michigan ralways-the Flint and
Holly and the Flint and Pal MarQuette-is held 10y
few individuals here. The Changers movement, by
threatening 10 impair the prosperity OF Western rail-
ways has been watched here with some anxiety aud
alarm Close on the heels OF IL has come the panic,
tlal or complete suspension of rolingInis, and the
general of such relations hoee IN which
New-B Bedford is involved. The usual dividends have
not been declared and the minds OF stockholders here
have been and are now anything but rosy. But they
suffer 70 silence and make no sign.
The reasons why this city is so much interested IN
Western affairs may be thought little obscure. The
proyerh has obtained Of late years that NewBed-
ford has ten dollars Western railroad or enterprise
where Abe has one undertaking at home When SO
little readiness and energy have been shown IN develop
ing Eastern resources and taking advantages OF oppor
tnnes here II is surprising that 80 much capital has
been furnished unried fields One OF the leaders OF
buspess here explains the matter In this wise: The old
canliss OF New-Bedford became rich from the whale
sberv and those OF who survive retain the bust
ness habits and dispositions engeDdered by that mode
of business, while those VINO nave passed.
away have left their sentiments as well as their riches
an inheritance their successors Whaling was an easy
going eisurey sort OF business for the shlpowners'
Their only busy time was for about two months in the
year, when they were fitting out their smps. 90 they
fell into slow and quiet ways which did not leave them
when the prosperity OF whaling passed away ana they
were lett without opportunity Tor investment for much
of their capital Manufacturing was too brisk and siren
nous for most Of them. They looked with dis
favor on tho early hours and incessant toll
which built up the great Fall River mills ana
made the riches OF the Bordens, the Durfees'
aud the Valentines In venurng into any business out
side OF that to which they had been accustomed they
wanted leader one to direct them. TO act Tor
them and almost TO think for them. The New-Bedord
man most prominent 10 Western investments IL W. W.
Grape whose father went Michigan from New-Bed-
ford, started large enterprises at Flint near Saginaw
aud became Governor Of the state Through relations