The New York herald., 1873-10-14
TEE STATE OF TRADE.

Matters mt the Produce and the Cotton
Markcts-Failure Of q Largo Sugar
House-Statcment OF the Firm.
During the past three days there has been Q
decline in general merchandise at the Produce Ex-
change OF seven per cent, and it Is believed by
merchants that II this goes on day or two longer
there will be such general distress that failures
among the small merchants will be numerous.
Operations are almost at standstill, and the
contrast has been so great with the transactions
OF the week previous that the effect is all the moro
severe. Indeed. merchants are beginning to real
ize, 1t Is said by prominent merchant whom the
HERALD reporter interviewed. that they are only
beginning to feel the effects OF the late financial
panic In Wall street. Money Is very scarce indeed
as scarce as ever, ana little or no money
can now be obtained to send out West to
q stop to the receipts OF grain, from the
West and Is felt all the more severely that the
immediately upon that event taking place. This
is usually the most active part OF the year,
sa tn Se as ate panic IN has ass
cause OF this state OF affairs. and not only the
farmers OUT West, but the merchants here and the
trade interests In Europe will suffer equally. The
fall in gold, consequent upon the large amounts
which have been lately sent to this country, and
the premium upon greenbacks, have so deranged
trade that foreign exchange has ceased to be
quoted and the consequence Is that the market IS
At .cnaae ssanssel ON declining marKet The possibisy
OF a resumption OF business on the ordinary scale
cannot be predicted Just at present.
AT THB COTTON EXCHANGE
the present business is restricted mainly by the
stringency In money, and operations yesterday
were very uncertain. During the afternoon there
was falling or OF one-eghth, and the market was
weak and irregular. There were only sales oil 100
bales which was very small considering the time
OF year. The gross receipts were 63l3 oaleS, but
the actual receipts were thirty-tw0 bales. This,
considering that the crop has been mainly gatn-
cred is very small 1t is hoped that as the season
advances the money will pour In as the crop Is sent
:" SUSPENSION OF FIRM.
There was q suspension in the sugar trade yes
terday--that OF the well known mousse OF Burger,
Hurlburt * Livingstone. HERALD reporter called
in yesterday at their ONCE, No. 81 WAL street, ana
saw Mr. Livingstone and received snort state-
ment from him. He said:-
"Our suspension Will only be temporary, and
trust to be able to resume in few days, but cam
not in tho present state OF affairs say exactly when
The tightness Of money and the impossbtlity or
getting our payments in has been the Immediate
cause OF our suspension. We DO our business
mainly on credit basis, and just now credit Is at
standstil We OF course have our real values to
fall back upon and own large stock In our re-
hnery. But In the present state 0fa1are we could
NOS part with anything except 81 an enormous
sacrifice, and We preferred, under the ctrcum.
stances to take the course we did. Tho recent
eral business and particularly to ours, and II Il
only from this cause that we have suspended
Ours Is not failure and we will make good every
cent Of our Indebtedness 1 cannot make AM
| exact statement Of ngures.n
| 1t was generally reported among sugar men thal
the assets Of the nrm were over $l0O0,OO0, unlle
the liabilities were about half that sum.