, 1874-01-04
BUSINESS IN CHICAGO.
Transitory Effect of the
Panic.
Interviews with a Number
Of Leading Firms.
All Branches Of Business Pros.
pering with Hardly
an Exception.
Where There Was Depression 1t
Has Generally Passed
AWay.
Sales in 1878 Contrast Favor
ably with Those in
1872.
1t Is Universally Agreed that Business
Is in Healthier Condition
than Ever Before.
A Large Trade Confidently Expected
in the Spring.
Collections Are Good, Especially from
the Country.
1t Is Universally Agreed that Business
Is in a Healthier Condition
than Ever Before.
4 Large Trade Confidently Expected
in the Spring.
Collections Are Good, Especially from
the Country.

Wholesale and retail, in order to learn whether
the influence of the panic Of September had yet
passed away, and, if not to sec whether it was
expected that it would soon do so. The results
Of his investigation, which are given below, arc
Of most satisfactory and encouraging nature,
aud show that tho trade of Chicago has rallied
from the momentary blow which it then re-
ceived. and is III q moro prosperous and SO under
condition than ever BEFORE
THE WHOLESALE GROCERY TRADE.
Probably more relable and intelligent
authority on tho subject OF the wholesale gro
ccry trade could not be selected than Nr.
Franklin MacYeagh, tho head Of the firm OF
franklin MacYeagL j. Co., and the subjoined
interview will bo read with more than usul in
terest:
Reporter-Tm TRIBUNE, wishing to lay before
its readers somo facts rs to tho general state OF
business would like your views On tho subject.
For d beginning, is the panic over, so far ~ az
lects your trado ?
llr. MacYeagh-Yes-if,i indeed, there could be
said to have been any panic 60 far as our trade is
concerned
R.-Tnen your business compares taTorab1y
with the ea1n5 month last ye1r, and with tho
year 1879 throughout?
Mr. MacY.-Our trado is and has been much
better than ever before, and our books show d
handsome increase.
R-Is that the case with the wholesale gro
gerry trade OF Chicago throughout j?
Mr. MacV.-I believe they hive all p1oapered
exceedingly, though speak only for our own
house. Take the fact that the prices in several
staple articles have ranged from 25 to 80 per
cent lower, together with the fact that tho
amount of our business, in dollars, is fully as
great as last year, and you can sec that
trade has greatly increased. Our December trado
this year WAS much better than last.
R.-Do you imagine that Other Western Cities
Cincinnati and st. Louis, for example,-can
show as healthy state Of things eince the
panic?
Nr. MacV.-It Is well known that they can
not. Chicago fairly carried off tho honofs in the
panic. The East was greatly astonished and
impressed By the pluck, nerve, aud eoundness
shown by Chicago merchants. Indeed, do
not know what some Of the New York houses
would have done for money for q few weeks if
it had not been for Chicago. This has been a.
very peculiar year in business circles. Many
weak concerns have been squeezed out,
and it can be truly said OF the
Wholesale grocery trade in Chicago that it is not
ogerdono; and I believe tho same ia true OF
other departments OF trade.
R.-Have you experienced difficulty in making
collections at any time?
Mr. MacV.-Money was hard to get at for
few weeks. but during November and December
collections have been good. The corn region
has picked up greatly Of late, owing to the en-
HANGED price Of corn, and in the city, collections
are better than last year. Our city trade is
larger, and business ia satisfactory in all re-
spccts. 3:
nlr. George II. Wells, Of r. D. Cossitt & Co.,
in reply to an inquiry as to whether the panic
Was over so far IS their trade was concerned,
said:
"Yes; ne are not now conscious Of it's conse-
Reporter-How does the volume Of trnde CON-
pare with last year?
Mr. W.-Dnring the last weeks the demand
has been mora active than usual At this season.
The aggregate OF business compares favorab1y
with last year. There has been great decrease
in values. Teas, for instance, have cheapenod
from Is to so per cent. while coflees have
Increased in price about 50 per cent within sir
months. Sugars have also been lower, and the
average Of values has decreased. Our collec-
tious we're never better than now.
IRON AND STEEL
Mr. s. D. Kimbark, Of kimbark Bros. l. Co.,
said: III do not consider that We hare had any
p0DlG IN our LIaQG. 1utlo uad Aefc1 ucbH q
time wher We had not perfect confidence in our
customers, and when We did net fill their orders
without question. Our business has been larger
than last year; We have sold more goods. though
there has been an average decline Of about rs
per cent in iroa- There is now feeling that it
has touched bottom, and We look for an active
trade. There is already brisk inquiry,
and orders arc coming in plentifuly.
As concerns collections, all Of our
smaller accounts-with merchants and general
nanufactu1e1a-have at all times been
paid with perfect promptness; on the other
hand, our large accounts-those with MANI
facturc1s connected with railroad interests-we
ara still carrying. We anticipate increased con-
fidcnce throughout the country very soon. and
ne expect steady improvement in business.
ar. Dane, of the firm Of Dane, Westlake l.
eorert, did not think that the. panic Was over,
but considered that the present state Of affairs
uas much better than formerly. Ho did not
think that the state OF the business Of his firm
was 1t any one time fair criterion OF trade in
general ns they dealt ii number Of specialties,
each OF which had busy SEASON OF its own.
Tic trade in SONIC Of these specialties had nn-
.dou5tedly been decreased by the panic; for
example, the firm had not sold more than two
thirds OF the number OF e.ove-boarda which they
would lsYe done but for tho hard hme5. Ono
proof that the panic WAS pretty well approaching
of haaYv from tho