The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1873-10-23

The Dry Goods Trade Unfnjurea
and ON o Safe Financial Basis
Russnesa steadily Imp<oVIng.

Business sisadily Improving.
From the Tribune, October 18th.
A Tribune reporter visited a large
number OF the leading dry goods mer'
chants to learn the effect produced on
the trade by the Wall street disturban-
css, the present state Of the trade and
its prospects. Among all the firms
called upon q most cheerful and hope.
full state of affairs seemed to exist.
The panic created q state OF distrust, and
there was IN most instances a large
falling off in trade for month past,
compared with the same time last year.
This seemed more particularly to be
the case with commission dealers, but
the trade was on firm and not an in-
flated basis, hence net so extensively
affected by the panic as some of the
other branches OF business; the manu-
fscture and demand were nearly equal,
and but for the distrust created by stock
gamblers, the fall business would have
been better than that OF any previous
year. The latest panic had no percept-
liable effect, and orders and collections
have been steadily on the increase for
a week past. To this testimony there
was but one dissenting voice. One gen.
tleman, q commission dealer, said that
there was no trade. TIE quietness Of
his store seemed to indicate that in bis
own case, at least, his opinion was cor
rect. But in every other case there
seemed to be an active business. The
members OF the firms said that though
orders were small, remittsnces were
coming in well, and everybody seemed
to be trying to keep out OF debt
Country customers, accustomed to order
by the case, were making smaller Or
ders, only Sufficient for their present
wants and such as they were able to
pay cash for; thus they were only max
Ing three or more email purchases,
whereas they used to make one large
one. Unless some unforeseen exigency
should arise, there will probably be a
good trade during the rest Of the fall
months.
At A. T. Stewart & Co.'S Mr.. De-
grove said that during the past ten
days there had been a steady increase
in business money was much plentler,
orders were coming in freely, and the
trade was IN every way much better
than It had been since the panic begun.
Receipts were not much behind what
they were year ago.
Mr.. Claflin, OF the firm OF II. B.
Claflin Il Co., said that business had
been much better than usual this year
up to the Goth of September. During
the past week, however, there had been
An increase OF orders and OF collections,
and more especially in the west since
the Chicago banks had unlocked the
currency there deposited. Business
with the south was still dull, owing
probably to the fever more than any
thing else. Collections were only three
or four per cent less than lsst year.
Everything seemed encouraging; the
trade was solvent and working on 8
firm basis.
Chase, Stewart IL Co, commission
dealers, thought that, though trade for
the past month had been somewhat
less than for the same time last year,
there had been an encouraging increase
within the last few days, and there was
prospect for a good tsll trade yet.
Collections were coming in well; men
said that it was hard for them to get
money to pay, yet they did pay, and
everybody seemed to be trying TO get
ont of debt. Money was much freer in
Chicago and Cincinnati, on account OF
the banks having unlocked the large
amounts held in deposit.
Mr.. A. G. Paine, OF Paine, Goodwin
i NOVEL;, said that the wooden branch
OF the dry goods business was on a per-
fectly sound BASH, and WAS go when the
panic came on. 80 that it was not ma.
terially affected by it. He believed
that the 1oolen trade had never been
in 30 sound condition for ten years as
it was at the present day. Trade was
increasing, and was not below thst OF O
year ago. lie had cold more goods
Yesterday than on any preceding day
during the last month, and during the
last sixteen days he had sold $3.50, 900
worth OF goods for cash. Remittsnces
were coming in satisfactorily, and
among all his customers not single
note had been renewed or protested.
Several other merchants were visited,
all OF whom agreed that the present
aspect oithe situation was hopeful, and
that there was q good prospect of a
steady increase in every branch Of the
hpeipaes