New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-25

MANUFACTURERS EMBARRASSAIENTS.
EFFECT OF THE MONETARY sTRINGRNCY ON COTTON
AND WOODEN MANUFACTURERs-ALL THE MILLS
TO CEASE RUNNING, OR TO RUN ON HALF TINE.
A TRIBUNE reporter learned yesterday from
conversations with the heads OF leading houses in the
city that the manufacturers OF cotton and wooden
fabrics have generally decided upon reduction In the
running time of their mills.
Garner Co. No. 2O2 Worth St. who represent the Har
mOny prncoth and jaconet mills at Cohoes, say their
mills will stop running this week, account Of the
light demand for their goods 1t is understood that all
the mills Cohoes manufacturing cotton and wooden
goods Will stop running altogether or be run on half
time after this week, until revival In business shall
warrant resumption OF fun time.
Frederick Victor AoheiS Of No. CO LeODardst, heavy
dealers in goods manufactured ut Cohoes, that
collections being slow, many houses are compelled TO
discontinue their cash advances TO the amount OF Two
thirds Of their assignments from these manufacturers
Five leading foreign houses have recently gone out Of
the business; and these houses have been
making cash advances generally, their re-
trement seriously cTipples the manufacturers,
who ind 1t difficult TO negotiate acceptances at
three aud four months. The result viii be that the
manufacturers who do suspend work altogether will
do lust enough to Keep the mills running The commits
sion merchants are unwilling to make advances on
goods which must be carried till next Fall They
consider that tWo-thirds the price Of the goodsthe
amount usually adyanced-is all they are worth, and
don't care 10 take any risk beyond that for
the small profit to be derived in case the
goods are sold. They willing, however, TO make
limited advances goods salabe at this season. Some
factories will DO compelled to stop running unless they
get the fun advances while the stronger ones viii
be able TO hold their goods and Will realize profit IN
the advancing price One advantage will be that mer
chants viii have chance clear of their old stock, and
healthier business will follow with the resumption
active trade
James Talcott OF No. lOs Franklinst considers one
OF the sagnaon In the trade be that
tive merchants dent TO increase their obligations
at present They there is danger Of overproduc-
tiou, and that enough goods be manufactured in
nine months for the trade Of the whole year Commis
sion merchants willing to advance cash for all goods
that can be sold Immediately but disposed to
put out their paper 70 any great extent.
Collins Within Co. OF No. 103 Frankin-st.. think that
the prospect OF the trade poor that the mills must
atop entirely half time TO prevent too large
accumulation of stock next Spring The manufacturers
will fad their profit In running On short time IN the en-
HANGED value OF their goods,
Cooper King Of No. 70 Franklinst think II would be
a benefit TO all parties for the mills to stop for time
There danger Of goods accommodating too rapidly But
for the monetary stngency, there would nave DeeA
fair trade the middle Of December NineteDths OF
the goods manufactured at COhoes are Fall goods ana
have DO carried greater portion OF the year. IL
IS better for the mills to rest than after January
BY 80 doing the need nc force their goods
on the market The foreign houses few years ago In
troduced system OF advancing thirds the value
Of the goods In cash. and that many Of them are
retiring from trade the small ufactuTers arc
embarrassed.
KIbbee, Chafee sbreye Co. of No. II Worth-st say
that bile money hed at tho present rates. 1t Isl not
good financial policy advance oash at per cent for
goods that must DO carried long There Is not large
stock OF desirable goods made up. and the depression in
the manufacturing interests cannot Dc VI long continu
ance.
Seth r. Hunt Co. OF No "a Rcade-st cay that those
VINO have been advancing cas heretofore no longer