New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-31

could possibly attend in fact business had improved
considerably during the past week.
NEWARK MANUFACTURING INTERESTS.
THE HAT MAKERS MISUNDERSTANDING or NEW.
JERSEY FIRMS.
Information as to the condition Of manu-
features and trade In Newark, obtained By TRIBUNE
reporter yesterday, justnes the conclusion that ths
general financial embarrassment Of the past month has
fallen upon that city with especial severity. Newark
being largely engaged In manufacturing enterprise has
beou moro affected by tho constrained stats Of
finance than towns moro generally engaged In
other pursuite, and has consequently larger
proportion Of men out OF employment, the number nov
out OF work m that city being cOmpeteny esnatod
not less than 1880 All enterprises other than
retail transactions in staple articles OF necessity.
also noarly sandstil and tradesuen generally tell
the story OF dearth Of business and dcGtY In the
matter OF collections gentleman Of means reading
in that city, informed tho reporter that
he had been offered 20 per cont for the
use OF money aud that good mortgages hal
been offered him at rs per cent discount He IN turn
was unable TO draw hts money from the saving, banks
without tho legal aotcatiOn OF ninety days, they being
appreheDsiYe OF a He thought that spr! Of CON
servatism prevailed amoug all moneyed men. Gene
rally speaking the retail dr. goods trade Is hotter than
week ago. but this Is reckonod to be necessity isc
dent 10 the rather than indication OF return
ing nealthfuness ia trade wholesale transactions m
every liue Of trade decidedly fat Mschiniss are
doing very little except one or two cases. where
special machinery being Manufactured fors
fore IN market Builders have In several Instances
stopped work on unfinished structures and tho amount
of buildings going up Ia 80 cent less than IN
former seasons carpenters masOns, and painters bng
generally out OF work. Newark, In conjunction with
Orange and Bloomfield doing the bulk Of the hat manu-
featuring the United States that branch OF business
was made the subject OF special investigation.
Agens & Co.. manufacturers of hats. fatigue caps.
tab nya NJ Va
ST. who have been engaged IN this business 40 years.
passing through three pancs that have swept
over the country declare that they never knew ther
business be- than now, aud that II Is not worm
following according to the present outlook Dir. ASeH'
of that firm has ust returned from tour In Europe.
during which he made the hating business OF tho ooun-
tries through which he passed special cub
jeot OF observation. H. conclusion IA TINT
America can successfully compete with tho world
IN hat making and that American workmen In that os
OF manufacture can make more money than IN any
other country. He however, estimates That 1909 JOUR
neymeu hatters out OF employment In Newark.
aui predicts less suffering among them before
trade reyives This is the season Of ntcrnIsslon. be
tween finishing up OF the FAN and Winter trade and
tho beginning OF work upon next spring aud summer
styles This latter work usually begins In November and
II the present financial st1ngcncy continues. Mr. Asons
fears that many manufacturers will be seriously embir/
raised in the matter OF procuring stock and necessary
labor In some respects the storm camo at fayorabs
season FOR the hsters most OF their Fall and Wnte,
stock being contracted for early IN the season ~ u nsd
occurred Jay wG you maze nSn Teep s Of tRnss
| continues past the season Tor manufacture OF lhe
70 next years trade Hstiyrs must closely follow te
seas0ps with both manufactures aud sies eea ~ ~.
wHen out Of season are out OF style ana consequently
dead prOpetty." T1is firm intend TO DISCHARGE nDno
OF their hands although there will be large roduetion
in time. They say tdat the present condhon OF INC
hat manufacture Newark not caused by any dearIs
Of orders Tor II money wac 40 pieD'y 10 ~ r''
Messrs Yates Wharton IL 90. of No H1 10 lbl Com
mcrce-st are manufacturers OF soft iet nIs a.s yI.
panic upon business has been the fang on In tno
september salos 20 the extent OF making necessary
shifting down Of work some weeks earlier than usual
They usually suspend operations at tnis uno OF
year until sprins and, summer STYLES are deter
weeks with their force OF workmen reduced however.
about seventy per cent o. business
experience OF IS years they think, VIII Justify mo pre-
January and they are arranging tleir plans accord
ngly. Their Fall trade was satisfactorily ana, before
the panic bid fair " exceed tAeir mose sangune
pectations. A slow Spring trade In their speciality
last season made dealers CONSERVATIVE an mo
OF falling of in trade just experienced they be-
eye be due 10 that consesy ttism than 10 tho
panic proper Altogether this rm take cheerful View
OF things but nevertheless with the nrm above
mentioned that C the present financial condition con.
tnues into uid Winter II "l prove disa'douS !" 'h'
r. W. Vail & CO.. at Union and Mlrke,-sts. mauufac-
they estimate that tie falling OF ia their business at
riDutabe 10 the financial uttiOn Is 10 per cent ISe
trade late this season but opened sharp and would
have continued probably TO the middle OF NOYcmper.
Many large hand at the opening OF che soos
were cOInermaDded and they are not now employing
more OF their usual complement or 800 nads
They mention as the chief cause Oh apprehension aoas
manufacturers the fact that collections are male wh
so difficulty that they are at loss 10 know from
what quarter the money Is u with pro
for the Spring styles, work upon wleh must
ia time. The matter OF unely relief BY
the banks is no longer a matter OF hopeful coz,
slderatOn, aud dependence must ther siOre Do had
npdYSual decentralization Rxenanse Is also 80 hSS
Al
to make collections from distant custOmers Their re-
turns sales OF Last sprng in. which.
being added to the recent Fall trlde bulk VI
credit which Is not desirable 10 Increase From pres
indications they SEQ nothing specially encouraging
Corey stewart Of Nos I'll and 7ls Broads., moro
cheerful; gentlemen's silk hate. their speciality being
apparently less affected than other branches OF TIC nat
and although their factory Is running on snort time.
they do not expect 10 stop atogether aud are already
TSer orders would Justify an expense account a. tie
factory OF $1,000 week but the difficulty Of prOcurfDe
i've pocy Their retail trade ia ne six has has been
Lee the past weeks than Ia oil the pre-
vlous. Generally speaking they found collections ah
cult but there great difference to be observed In
different OF the country; for instance In Cen
trail and Western NewfOrk there only slight back
wardness to complain Of while In Massachusetts and
Pennsylvania It was nearly impossible 10 collect any
continues ino January 1t will destroy ali prospect Of
sSs banks could and would adopt more liberal policy
they should enter upon more prosperous trade IHis
John W. Neal of No. 20 schcnckst makes a speciality
OF the manufaeture OF ladies' fur hats lie has felt
depression In his line OF TRADE up ~ within few days
and does not anticipate any marked falling OF In his
Winter sales His recent shipments Ia ades' fur hats
have exceeded 5000 dozen which he VERY fair
bdsness. Prime buyers he says, laying IN as large
stocks In former seasons, aud he believes there viii
be shunkage In business except In the eases OF
buyers who may have become account
the unsettled money market. lie believe tnA1
the present ughtness OF money will continue, because
the collections are daily growing easier whic fact no
considers good Indicator OF tho current monetary
affairs. The recent warm weather had somewhat de-
layed his trade, but that cooler weather
Is anticipates a sharp nd his goods wbich n