New-York tribune., 1877-10-27
CONDITION or THE SILK TRADE.

CAUSES OF THE RECENT EXTENSIVE FAILURES
| ABRo AD-PROsPECIs FOR IMPORTED AND
| AMERICAN SILKS.
The manufacturers of silk have suffered
severely from the general depression of trade and also
from speculative movements. Disastrous failures al
LYONS and other places have resulted Referring 10 TINS
subject member of large importing firm on Llspe'
nardst. said to TRIBUNE reporter: ." Ihe failures
among the silk at Lyons have been heavy,
and " ill doubtless gate millions OF dollars They
have brought about chiefly by speculative spirit
the part of the manufacturers, who bought largely OF
raw silk which afterwards suffered decline OF about
30 per cent When tho speculation began, goods were
forced up on a supposed short crop and an extensive
American demand The prices advanced 50 rapidly
and manufactured goods held at high figure,
that consumption fell of aud almost entirely ceased
Meanwhile the stock accumulated aud under
a pressure to sell there serious decline. The Rus
sian war broke out in the midst Of the specuaton clos
ing up large Eastern avenues OF trade. and the gen
erl sagnaton all the world has caused people OF
all classes 10 economic. silk dresses have not been in
so general demand ~ heretofore The failures reported
If LYONS We believe only the beginning OF the end
In the silk In the other silk districts matters
are less serious dealers acted prudenty
and there no ovcr-Inanuiacturing AT Lyons the
stock heavy that sales could only he made at dc
cline OF % per cent from manufacturers pices ana a
ur,s were inevitable"
Referring 10 the SILK trade in America. the gentleman
said: Ths country has been suffering from an over
stock of the large impOrtatOns and goods are
now selling lower tnan ~ any time during ilc past leu
years. Tha manufacture OF American sha haa bad some
influence hut has certainly not checked lmpuratons
Foreign manufacturers must have th MAJ kt a. m out
h, aud in Iac cannot the business with any
without It, The American manufacturer, 90 nov
enter serious competition with iOftEh makers IA
drrss sfl,s but tLry have well nlgh broken down
the foreign trade in silk haudkerchiois, ribbons
AID laces. The American goods are manufactured
Of raw silk imported from Japan. Canl and Europe
The various Kinds are mixed t0Eether, tLe Eui"p,@u
being used Tor the cham and the Cnl1e,e Tor IAhS
American dress slks are rctallcd 10 prices between
~ ami - per yard. the finer grades not being manuac
market at - cents to - per yard In some M
stances higher prices are paid the decline IN price IN
tni, market Oh wiorted SIZES dMhS the past llI ha5
been fully twenty-five per cent The same may ne sild
OF all GLASSES OF goods Of which S'ik FORM, part
Ncscts nave been scrisisy antc"d th' utcuhc ptlhS
e than 90 per cent fFOW last years prices Inc IN
dlcatiUns good Dr heavy consumption or NciNct,
The stock Large, the supply abundant ana az the pres
eut low prices all clssC, OF slk goods selling readily
and largely The low prices nav" stimulated the con
SUMPTION almost entirely ceased durinE the time when
turned when prices reached normal condition frees
auI the losses already entaed have taught man
ufctureTs the folly Of attempting 10 advance rates ii
ther." ... so.
gentleman SAID: "Thc duty imposed upon silks Is
heavy and diSrnimas tht II tends 20 break up i'm
before they into consumption OF course SILKS are
cia,.ed properly among Injuries ana Tor hat reason
aid IN bearing the butdenSol Dut ~ COM 1
Darison with the rates Oh other imported Injuries the
trh SILKS appears 70 me excessive lne VIooH % io
t.e year is good. PtoPie are settls ouV VI ue.l,
stocks are Extraordinarily light, ana there i no
reason why there should not be an unusuaiy heasy
trade Western and Southern mere hahts are aIcauy
buyuy unusually large lines OF goods, ana from every
nurter tho most encouraging reports OF a re-
viya ol trade Crops full aud farmers are hopeful
rar LYONS failure VII have serious influence on tue
American l0r silks The on.y eject VIA DC 90 de-
press pIicca surplus stock sent hesc to be forced