New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-17

feet Of tss uBo o9u bnyne on
trade They that the retnef seliuc AZ from 80
~ 20 days Their customers have 10 arn ,he crash
goods 70 Vh fo small dealers could not meet ther
ononsements to the wholesale men a ny ~" % nTton
were through whom the influence extended 70 the n.
oorter The fact rs many Ienhets 9aVo peen aiIu
Themselves the privilege OF buying tue raw sugar on
four months time and selling me rene1 mar Sa 9 heS
Dut into bmdings. machinery, bonds Ffth-ave lots,
' II requires a large amount OF money TO erect a
trade generally enormous but the business mas ben
eus are purchasing IN quantities only sunl-
cent to meet the actual demand ana Sc, r5u
The refners follow their example, and, curtalng pro
ducton 10 conform 10 consumption order rom the IN
porters in correspondDgiy decreased amounts, me
latter have large stocks hand and are anxious 10 sell
the crop will he ready for market ia three OK four
months and these facts have resulted III decHneo
about cent pound which is very marked iaI lOI
sugar. Among the 30 or more rehnerles IN New VOTE
aud vicinity there not more than hVe VINO guy LOT
cash. The present trouble Will undoubtedly mahe
a change In tins respect 1t taxes bnt Que
failures among their customers 10 itigheh Iue
importers and OF them endeavorlng 10 receue
from the four months arrangement aud aoopt Gasn
basis. 10 was this effort that caused te rScehI
noted in the trade The house IN cues uon had sde Us
engagements and issued its paper with the ,ehpecaoh
Of reapng the benefit OF the usual lnId oI ttl
when this denied them they were oplgeu 70 20
applied 10 them, although the reiners and importers c
very wealthy and can resist the financial STRAIN as long
"a any other commercial class OF the community
THE TEA TRADE.
Carter Hawley ~ Co, importers Of teas, Of No li0
Pearl and No 100 Water-st, sanguinc. They eX-
pressed great satisfaction the present healhnl state
of the trade and decided in the assurance that the
influences which caused the suspension OF the house OF
Gillespie Trowbridge Co. have had no effect upon the
Tea and grocery trade generally. They stated that IN
the case OF the house mentioned Lnlure 10 colect
their debts was the immediate cause OF thels
tSs Trade - at xrse and Of the Messrs.
Carter Hawley & Co in parcua was tnat collections
several persons from that portion Of tie country mad
only paid their bills. amounting 10 thoIsnI t oi
placed their credit in tins city Ihs hrm thought ts
testimony of the majority OF Tue HOUSES IA anu
The firm OF Sanger Beers a Fisher, iobbers IL teas,
cOlecs spices, Nc OF NO ~ flonCst Heio f
encouraged BY tue present aspect anu i''ul1 m go
the trade Teas have not fallen on ~ value % maNe
cofaes. which have declined II cents pound lhey
at first inclined TO oe rather SURPRISED az tn U.
when il Is remembered That importers nave DeeI seng
al loss for time IL j. fair presumption tha teas
have about touched bottom Very hide Tea Is peihg
exported nom China at the pte1en lmo ia ia', ,ic
receipts the importers at tins time last year were
hundreds Of thousands OF pounds IN excess o. e pres
FURNITURE DEALERS DoLErUL
Warren Ward. furniture manufacturer ON springst'
said he would ike to hear of the that the panic
did not affect He had been compelled 10 discharge IS
men out Of $50 and to lower the wages of number OF
those who remained. In both the wholesale and reta
branches OF trade the effect felt very dsasOuSy
|
not venture lay in large stock or could not pay Iot
it, In the retail way new fnrnlture was CONSIDERED
something OF a luxury. which people could do without
and Ihey generally preferred to DO without II untli
filings became more settled. He had been IN the bls
ness Twenty-Five years and had never before found bis
factory fun Of men without work for them 10 do Inc
manic of 81 did not equal il, the unsettled tunes OF
The war In 1857 they had good trade with the SOuh
" hch helped 10 keep them going. Now they have q
tte trade with the South, but much. He was still
busy delivering orders but did not care 10 cut on; any
great amount OF work ahead He thought the worst
was vet to COME believed the Government was pre-
pairing FOR specie payments.
MT Edward W. Baxter at Canal and MuDerIN.sts,
said he had discharged any yet, and dld not
know that be would The effect OF the panic was very
plainly felt in his department OF business, especially IN
order heavy stocks ahead and manufacturers c0ud nos
afford 10 lay heavy stocks TO anticipate trade hc
Thought the panic would be before II got better
that manufacturers would have discharge large mum
hers of mechanics, and would he dun Of.
Allen of J. T. Aen,G CO.. Canal and Mott, SAID that he
had discharged 40 men out OF force oil about l5V Ou
manly on OF the fact that he had put them on
as an extra last Winter in anticipation OF strike
and now found that his stock was as heavy
as his orders justified. The main uounle
that affected him at present was due
10 a lack OF beraity in the banks, who did not accom-
MEDIATE merchants much as they should He found
that many of his Western customers who used 10 pay
hun IN cash now pay him in paper, good enough and
easily negotiable, except for TINS close pOcy on ihe
mart of the banks. He received many orders Tor
goods as usual fact October being usually "A goOd
month his order book showed rather orders thu
in the other months OF the year. lie felt that the
gamblers Wall-st. were responsible Tor the whole
trouble aud hoped the banks would be wise enough ~
the future 70 keep out OF the hands OF the stock brokers