New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-05
THE sHRrKAGE OF VALUES.

IHE HilhINhAUB VIZ f4AAiN'+'
4 SLIGHT DECLINE N PRICES OF GIc'TLENlEN's FUR
NIsHING GOODS, BOOTS AND sHoEs. HOSIERY AND
GLoyEs-A FALL IN TIE DRY GOODS MARKET
ORDINARY AND PANIC PRICES COMPARED
Although the very general depression and
stagnatlon attendant upon the present unsettled con-
d.tion Of AFFAIRS in the financial and mercantile eomm0'
nifty would seem to indicate the certainty OF material
reduction I'm tie prices OF the commodities constituting
the stock In trade OF every branch Of business the de'
crease Is neither great so comprehensive as
would at first be imagined Certain lines OF goods not
strictly cassed "a staples, but which arc articles OF
common necessity and every day and indispensable
70 personal comfort and appearance have not declined
a cent for q year Including this description OF
merchandise rated gloves and hosiery and gente-
mems furnishing goods. The stocks held are compare
tiyev small but OF excellent quality, and could not
be replaced at their original cost consequently they
are not disposed OF at forced sales their owners prefer
ring hold them IN store rather than crowd them upon
tho market at sacrifice. Indeed, there are few
nouses An these trades who say that they cannot afford
70 make reduction in their prices, their running STOCK
being barely sufficient 10 supply tue periodical demands
Of their regular customers.
The boot and trade has experienced only nomi
nal decline in jobbins rates buyer who purchases
for cash can OF obtain considerable advantage
over tho man who buys four six months credit
but While special terms offered the merchant who
accompanies his order with the ready money, little
difference is noted in the regular Of trade. The
boot and shoe interest is considered OF the safest
and most prosperous industries IN the country Under
the system which at present governs manufacture TINS
trade Is looked upon by those engaged IN II as
in an exceptionally healthy condition. WIZ
only two exceptions all the shoe manufactures
in New England and elsewhere, which supply
the New York market, are owned aud operated
moi by incorporated companies but By single individuals
or firms Again, the production Of these factories is en-
trely on orders jobbers in different parts Of the
country Consequently every dealer and manufacturer
knows exactly where he stands, and can see the end
from the beginning, a. it were No blind risks are
assumed; orders can be nelligently given consunp-
ton and production ont VI proportion, and there
fore stocks do not accumulate n0Idiuately but are
readily cleared out by the end OF season to give
place to the goods OF the next This concert OF
action end community Of interest exhibited IN all de-
parmens OF the trade have resulted bcnccaly TO the
manufacturer, jobber and dealer.
There are numerous houses representing the various
important manufacturing, interests ceuering In Now
York, the pgoprctors OF winch have made no special
reductions their productions. These firms report
that tLcy selling scarcely goods at present ana
tcy do not desire TO dispose Of any under existing cir
cums.ances. They are not now manufacturing ITO any
great extent some mills having cutalled the ;hours Of
labor oucthirl, others one-hulf, while few have
stopped work altogether, and all have reduced the
wages Of their operatives. These gentlemen say that
their stocks small and that they could duplicate
them for money than it cost 70 manufacture the
goods hand but they prefer to hold the present
small supply aud submit 10 possible SHRINK
age than sell during the existing financial
strait - they wOuld ra.Ier have the goods
than little cash and p0cketiu OF bills receivable.
But the greatest and i'm fact the only marked shrnkage
in values is observable in the dry goods market In the
general list The reduction Is from 70 u per cent the
latter figure being considered very heavy ral for dry
goods. Below given few staples in this ne with
the prices Of each the 1st Of September compared
with the figures current yesterday These are standard
goods Of leading marks. regular corpOratiopproduc-
lions, manufactured by the large mills IN New-Engaad,
and rule the market