New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-09-25
NETWORK DAILY TRIBUNE,
transactions In money to the effect that 1t was offered
at onohalf per cent and interest.
TABLE or sHRINKAGrs.
WOODS OF CHEER FROM BUSINESS MEN.
TnE DRY GOODS OUTLOOK GOOD.

hOhDO VT EhOM BUSINESS MEN
THE DRY GOODS OUTLOOK GOOD.
The eifects of the upheaval in the financial
Of the metropolis have yet shown
affect heavfiyNhe great business activities with which
stock brokerage and speculation have nothing to do
The principal dry goods houses report serious
OF confidence among buyers now in the CITY, marked
decline Of prices, and apprehension for tho
future 1t is true that shipments have fallen off little,
and purchasers feet their way cautiously before making
large investments but unless the financial sringeney
should widespread suspension OF country banks
the filing up of depleted stocks the villages and small
cities from the abundant stores In NewYork will
smoothly. There approach TO panic among tho
importers They consider the trade in healthy condi
tion and liable 10 be diverted from steady advance
unless disrust and failure shall take in much larger
circles TRIBUNE reporter yesterday visited Of
the chief wholesale houses and obtained the following
opinions from authorities In trade:
At the house OF H. b. Clafn & Co. II stated that
crisis had apprecaby affected the dry goods trade,
but not to serious extent There many merchants
in the city who have come to buy and most OF them
making their purchases with undated confidence.
part have tmd and hold back for clearer sky.
Prices have not been depressed vet has there
been any embarrassment Of note. The events OF the
next few days will determine whether the trade is to DO
injured heavily not The increase OF suspensions OF
banking houses and banks and the extension of the feel
ing insecurity would inevitably be severely felt In the
dry goods trade and other departments Of business The
volume of dry goods business possibly at present
be curtaied about firth by the troubles in the financial
world The essening OF shipments does not yet eX-
coed that proportion.
Geo L. Terry OF the firm OF Peake, Opdycke Co.. said
that the great pressure Of trade in dry goods for this
season is now over The heavy Western buyers have
come and gone The month from August Is 10 septem-
Der 49, is the busiest time In spite OF the partial panic
In the city the trade is active for the time of year
Country buyers have had the opinion that the trouble Is
only a Wall-st affair." and have invested with consider
able confidence. They need good stocks, as they have
been carrying light for several months This Fall
the crops are large, and they must be moved Such
demand among the patrons OF the country buyers exists
and expected that they have TO lay In good Stocks
Prices have not declined account Of the commOton.
II the troubles continue few days longer buyers would
probably be frightened into excessive caution, but at
present in tho case OF this house and OF the other large
houses so far is known they purchasing freely
Unless the country banks should be forced to suspend
and thus cut off the OF the buyers the dry
goods trade III be seriously affected by the panic
The trade now in very healthy condition. because
year ago merchants took warning, and fearing financial
troubles in the future kept their business upon sound
bass. and have kept collections close ana conducted
their affairs with prudence.
Mr. Mclean of the firm OF Cochran, Mclean Co.,
stated that the panic had not much effect upon
buyers already in the city, and who from consd
cradle distances upon those In neghborng towns and
cities, who are accustomed to visit New-York almost
every week or fortnight. The former are buying with
fair confidence, and prices have not been depressed
But storekeepers from Nyack, Newburgn POughReepse,
Bridgeport, New-Haven, and other towns and cities
near at hand have this week omitted their usual weekly
visit to NewYork and wait the result Of tho monetary
crisis before buying further. How far country buyers
are alarmed by the panic, and how far they will abstain
from purchasing for while cannot be certainly known
as vet The trade has not yet received serious injury
and impossible to give any estimate OF the amount
of decrease by the sackenng of the two days
trade-MOnday's and Tuesday sthls week. Prices arc
not yet shaken. longer duration Of the troubles
would doubtless alarm buyers and they would only buy
from hand TO mouth TIL more settled state OF affairs
was reached. The suspension q the country banks
would cripple the trade but OF that there seemed little
prospect.
Other leading firms In dry goods were visited by the
reporter and from the statements Of the principals ana
from his own observations it found that the estab-
lshments were lively with purchasers, whose earnest
discussion Of the position of affairs did not deter them
from considerable investments lead them to expect
a decrease prices. wholesome confidence in the re-
laton OF the importers and their patrons appeared to
exist.
NO CHANGE N THE IRON TRADE.
j. b. Cornell, member of one Of the largest
iron manufacturing firms this city, asked, yes
teriay, by a TRIBUNE reporter whether the present
financial stringency had seriously affected the iron
trade He said that it had not thus far. His own firm
had large orders for work. and had discharged no en-
ploy6s. Referring to the discharge Of men from the
Rogers Locomotive Works at Paterson. he said that
that was by the annung Of contracts for loco
motives roads and could not be accepted as a
criterion of the action OF the iron manufacturers at
large He could for interruption Of the
iron manufacturer. The country prosperous in the
MAN, and the crops good and in demand abroad.
Thus far his firm had not suffered from the panic They
received accommodation at the banks as usual All
that was needed bring everything out all right
confidence.