The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1874-07-05
PROSPECTS OF TRADE.


Statistics.
In view or the interest which attaches to this |
important subject the HERALD on Friday delegated
one Gifts reporters to CLEAN The views OF the lead
ing merchants as to the progress and condition OF
the general trade OF the country, the crop pros.
poets and other matters of business import
The first gentleman visited was Mr.. David
Dows, OF the firm OF David Dows & Co.. No 20
South street. He was found in the large
Office over his store. HIS clerks and partners
were all busy at their several desks and tele-
graphic stock and gold indicator was clicking out
the prices in the centre of the otherwise quiet
business apartment. Mr.. BOWS received the
HERALD representative very courteously, and pro-
ceeded TO give his views in a concise and lucid
manner In response to various questions, he
| said :-"l nave had, OF course, large experience
in the general produce BUSINESSMAN experience
in fact that comprises about forty years of &C
| tive business career-and must say never knew
things to look more healthy ana promising
than they do at this time. The crops
OF the West are incomparaby fine.
TIE farmers are, and have been,
making money. Their grain has paid them a
profit on production, and as Europe has demanded
our products and there has been margin Tor proat
between the two continents, shippers have also
made money Crops In Russia have been bad; and
although Liverpool is always the great trading
| point, still, at the present time, Germany is our
best customer. Her agents come into our market
at times ana sweep it clear of graiD Credits
generally upon a sound basis, and no failures any.
where are reported. We sell meats, lard ana gen.
eral produce. or course our greatest trade is in
breadstuis, and England is generally our best GUS
TONER"
As Mr.. BOWS was known to be connected with
several Western railroads as q director, the re.
porter thought it proper to ask him what his gen.
eral views were In regard to the transportation
question between the railroads, the grangers, and
the conflict between the Legislatures and the COM
panies. Mr.. Dows said
'Regarding transportation. never have the
farmers been able to send their products market,
both ny land and water, so cheaply as at the pres
ent time; and it Is to the interest of both the rail-
roads and the grangers to harmonic their differ
ences. The trouble has been fomented by various
mercantile and political demagogues, the former
Tor the purpose OF making cheap capital Tor their
houses in the East and the latter for obvious
sons. Public sentiment will, however, soon modify
radical views on either side-it Is indeed already
on On the question will do much to make moderate
%h In regard 70 the late ADVERSE actos
OF tle Wisconsin and Iowa Legislatures against
ali a M I be m the ra
roads being willing to fix fair rates OF trans
pOrtltlOn to the SeaOOard ana unwilling TO submit
to an odous system OF blackmail whlcn mas existed
IN the East. The country Is entering upon new
era OF prosperity. In tact, the prosperity of '7a
hurried on our panic, strange anomaly as this may
seem. The crop OF the West came forward early,
our nome banks were drawn on Tor currency an
til they became bare and when they ID turn called
In their loans from speculative railway bankers,
the bubble was pricked; but England in the midst
OF our trouble had to have our gram. and would
have paid the god tor II Ii she could NOT have OBJ
tanned 1t IN any other way In tue midst then, OF
our gloom. there was mat ray OF commercial
Uh I
healthy from Its late lever"
The reporter next sought Mr.. Franklin Edison,
No. 23 Whitehall street, President OF the New
York Produce Exchange. The views of Mr.
Bows were fully confirmed here as to the gen.
ers were getting good prices Tor their wheat; the
| shippers were making money; no failures
aging news was received, and that from Wnona,
in Minnesota, where the grasshoppers were devas-
tating the wheat crops but 1t was to be hoped that
this scourge would be confined to section
Oswald Jackson Bro, No. q Beaver street are
reporter found rather less encouraging report.
Trade was quiet. There had been lively specu-
laon IN low grade Ffenca ana spanish h wles
would be change in the tarin; but this not oc-
curing. 1t was supposed to have occasoned
that his goods might be termed 'luxuries,"
there had beer falling oil IN consumption. The
higher classes were retrenching; they did not
smoke many cigars nor drink much wine.
The lower classes were situated about in this way
the laDorer owed the grocery man or the re all
dealer, the retail dealer the oober, and the jobber
the dlstiller or importer. For "IuXurles" there.
The reporter now sought Mr.. Anthony Oechs,
one OF the large wine importers IN America. He
ouna this gentleman at his warehouse, No: 70
ness was even better than last year, the prices Of
most OF these goods being higher than IN 1873.
The tobacco business was represented to be in O
nourishing condition and the trade throughout
the country healthy and improving. Mr.. A. $.
that the crops of Kentucky and border States
tobacco were very good and advancing in price.
! He thought trade in every department must re-
vive, and looked confidently for a line iall busi-
ness
| New York Cotton Exchange, Mr. II. Hentz, No.
! Hanover street. This gentleman was able to give
valuable information, an: tGronGn MIN the the, re-
formation which has not before been given 10 the
pubic.
1t appears that there is an increase OF the cotton
crop OF 25OO OO bales over that OF 1872 making the
probable crop 4,i15J0O bales. Bombay Increases
100000 bales and Calcutta 10000 bales. OF 800
pounds each. This, however, is short staple and
only equivalent to 900 bales OF American. The
crop of American cotton mas been exceptionally
fine, ireer rom sand and dirt ana better staple.
The Financial Chronicle says it is eight per cent
better in value but upon low estimate OF nve per
cent 1t would equivalent to an increase of 2000 900
bales. rhls gives an increased total product of
100000 bales over last year, from whca should be
deducted 100000 bales short from Calcutta.
large portion this increase not visible pres
emf, but amount is believed to be held by spin
DO not believe the consumption this year
Will be any larger than than that , OF 1873;
! The home trade In England Ton account OF
strikes, Nc.) is not promising American spnners
hold moderate supplies, but they are not encour-
aged to be large buyers. Last year was generally
an unfortunate one for the manufacturers, and
some goods are now selling at a less price than be-
fore the war. The present cotton crop has I'M
proved wonderfully during the last SIX weeks. The
fields clear OF grass, the stand Is good and the
plant Is vigorous and healthy. The Bureau report
Department in Washington gives from ten go
eleven per cent decrease in acreage IRON last
year. but this is not credited here. Planting com
/ menced in June In the cotton lands OF MISSISSIPPI,
but the Bureau report only mad advices TO the end
of May. A careful journal IN recent issue only
places the average decrease at eight per cent
| In the lower portion or Texas the crop JAILED
last year; but 1t promises WELL and IL Is estl-
mated that cotton will be received IN Galveston
towards the end OF this MONTH Going Dack 10 the
Shippig List in 1859 and 1860 u VIII be found That
the estimated receipts of new cotton IN August OF
the latter year was 81 900 bales more than ever be-
/ fore received; that crop had late start, with
| rains and overnows continuing until late In May.