The New York herald., 1873-11-06
OILS AND PAINTS.
Depression In tho Petroleum Refinerfcs-
No Export Tradc-Reduction OF Time
and WaEcs.

Depression In the Petroleum Refinerics-
No Export Decentralization OF Time
] and Wages.
| HERALD reporter yesterday went among the oil
men and to few or the paint establishments seek
ing information to the erect of the panic on the
Oil and paint business The oil men had nearly all
| the same story to tell. The export trade Is en-
tirely at a standstil and the domestic trade is
paralyzed for want Of money and want OF conf
| dence. AS reason for the cessation OF
foreign contracts it was stated by all
those visited, that during the year tae
price Of Oil so steadily decreased that foreign
stocks were laid in very fully. When the panic
came there was no immediate want OF oil, and the
condition OF the gold market and exchange was so
bad that no ventures could be made. None Of the
principal oil works, however have entirely
closed continuing in operation, not upon
current contracts but in the fulflment OF
old ones. When these are exhausted there
must come utter stagnation, and this
must necessarily cause the Unemployment OF
thousands OF workmen in the middle OF the wilter
Some lew OF the works are running part time
only. The domestic trade in oil has also suffered,
though there is good demand for small quantities.
SO far none Of the clerks in the oices OF the va
rous firms or companies have been discharged,
but If the effect OF the panic lasts to the end OF
Below Will be found the statement OF lew OF the
firms visited, which will be sufficient to show the
general state OF the trade -
Libby Clark, Of Maiden lane, say that their ex-
port trade at the present time is Simply nothing
but they have old contracts to supply which will
enable them TO keep at work until January. In
their four refneries in Brooklyn they have 125 men
employed, and they hope TO be able to retain them
all at least until the end OF next month. Their do
IN estc trade is not large. This firm is exclusively
concerned In parafllne oil.
The Standard Oil Company whose Offices are In
Broad street, carries vast business in Cleveland.
The wages paid weekly to the employees amounts
to $35.0oo The contracts on the hands OF the CON-
pany when the panic broke out have kept all the
men at work SO far and probably will be able to
keep them going for q few weeks hence but,
should there be no change, business must come to
standstill, ant the large army OF employees must
90 adrilt until healthy condition OF business is
revived. In the storage warehouse IN Brooklyn
400 men are EMPLOYED, and these also are being
sun kept on. The company is engaged entirely
The house of Charles Pratt, Fulton street, SO far
as the export trade Is concerned, Is In the same
condition as tie two establishments named above.
~ mas a facttry In Williamsburg and another at
Hunters P0ilt, and the wage-roll foots up per
week $4,000. The contracts on hand will keep the
men at work until about January !. In the do
nestle trade there has been very serious falling
of, but the usual increase in the business OF the
mouse at TINS time OF the year is missed. This
house also Is engaged with petroleum.
The Brooklyn OIL Company, Pearl street. also
petroleum concern, have their works at Green
point and are at present employing 100 men, one
nan OF wh0m are TO be discharged at the begin.
ming OF the new year unless there be q change In
financial afairs sooner. Tney had had, previous
TO the panic, an export business equal to the fun
capacity OF their works. Lake the other establish
menis the only export business on hand consists
OF the Old contracts made before the panic.
| The Dowler Kerosene OIL Company Maiden lane
state that OF the 700 men employed In their re-
| fneries al Cory, Pa, and Boston, not one has
as yet beer discharged.
| The hrm owning the Atlantic White Lead and
Linseed vi Works, Pearl street, report that their
business, which Is entirely domestic, Ii only about
| one-haf what IL was. Payments for orders sup
i Piled are tOleraby good, and business, all things
| considered runs along more smoothly than might
\ be expected. About 800 men are employed at the
works, but only on halliday time IL IL expected
! by the firm that they will be able to keep the men
| so employed and thus weather ont the storm.
The StarIinseed OH Company, whose works are
1 In Jersey, ire running only every alternate week.
/ In the pint business c. +. Reynolds n CO., Full.
ton street state that In their Jersey factory they
have IS men working on hall time ana
! IN their Trooklyn factory 100 men on two-thlrds
time Th,ir collections are about one-third Of the
/ usual moment. This shows In lew words the
conditioner the trade.
Deyoe Co., paint manufacturers, In Fulton
street. state that their business is GOOD under AN
the circumstances, and no annoyance has been oc-
| casloned IN the collection OF bills, only lew men
nave beer discharged from their factory, In Hora-
! Nv STREET They anticipate nv cmbarrassmenL: