The New York herald., 1878-12-14

ming overtime business in the Ansonia clock fac
tory reported steadily increasing the Anchor Snap
Company of Northfeld. increases its capital ana the
knife works of the same place reports improving
business, with additional help employed.
These tell the tale better than generaizations
RHODE ISLAND.
HOPEFUL FEELING FOR THE BUSINESS FUTURE
BUT SIGNS OF ACTUAL IMPROVEMENT WANT
ING-pEPREcIATIoN OF yALUEs-MANUFAc-
TURERs MAKING SMALL PROFITS. m
NEWPORT. Dec. H. 1878.
In common with other sections Of the land Rhode
Island begins to feel that the turning point in bus
ness has been reached and that the future hooks
promising. Real estate and the manufacturing in
terests in the state have seriously suffered from the
general depression Of business but it is doubtful If
there has been much suffering among the poor
classes for in the manufacturing districts the oper
atives have been constantly employed and in but few
places have they rebelled against the low rate Of
wages which their employers have paid them.
Dgent inquiry reveals the fact that there better
feeling than there has been for three
Leading business men, manufacturers aud farmers
have been questioned. and their views.
possible are embraced in this statement They be-
lieve that there s to be stability in values, and
that we approaching that point where the profit
Of the business not absorbed by the shrinkage In
values. Farming is not entered into very largely in
Rhode Island, from the fact that the soil is too
poor The farmers, however, have secured
better crops this year than they have for
eral years, but, with the exception Of potatoes.
the prices have ruled very low, but they are
satisfied with their past seasons work. and
have no fears for the future. The manu-
facturers and their is legion. aso willing
to admit that they getting old dollar for
ono. besides keeping their property up and
adding new machinery when required; and they are
also able to keep large army Of men and women
constantly at work at prices which, to say the least
have enabled the latter to keep soul and body to-
gether. Prices for cotton and print cloths have
ruled unusually low. but there is demand for the
production for time ahead, s the case in Fall
River. which is encouraging sign. Singular as it
may seem, Of the manufacturers think that the
material is too cheap, and not few Of them are
Of the opinion that the South and West do not got
enough for their produce. aud this is one Of the
reasons why their business is dull They unable
in the Southern and Western States to pay the prices
for manufactured goods for the simple reason that
they cannot secure living prices for their goods
An advance. therefore. of the raw material would be
somewhat surprised to hear such theory advanced.
Some Of the mill owners who have managed
years. and have materially improved their property
The Rhode Island mills along the Blackstone River
and AL through the upper section OF the state
there being but few stockholders as is the with
the Fall River mills, and. consequently the divi-
dends, il any, have accrued to comparatively few
persons. 1t is true that the mill owners and other
manufacturers have been compelled 10 materially
monts but also in their homes. High salaried
clerks have been cut down, and everybody
knows that the operafives have been subjected
past three years. Many of the leading manufac-
furors claim that their help are as we'll of as they
several years ago. when their wages were thirty
three per cent higher than they ut the present
time. They the mill owners) have reduced the price
Of rents. groceries meats &c; for II s no uncommon
thing for the operatives to receive their provisions
from their employers who purchase such articles at
wholesale prices. and give, alleged togve thee
operatives the benefit OF the same. Cattle pur-
chased in large numbers and it will thus appear that
s % 81 y to
they could they to live in the city Some Of tho
leading mill owners keep their own shops and they
present inducements in the way OF credit Tor their
help to trade with them. fe @t
CAPITAL TIsuD. NA.
~ No now manufactures have been started during
the past three years to speak Of. few minor enter
prises have been born, but they succumbed for
There does not s seem to be any desire to indulge
in speculation, and now the leading capitalists
tinid. and there does not seem to be any dispo
sition To enter into any new enterprises. The de-
posts have not materially decreased during the year
in the savings banks, but it il TO be inferred that the
class who patronize these institutions those
who are not given to specializing in new enter
prises and who believe in these uncertain
times that their hard earnings can be better
than by themselves. large amount of money in
vested in commercial business has been quietly with.
drawn during the past three years and invested in
more permanent form, and during the past twelve
months large percentage Of the savings of tho peo
paliy the new four per cent securities. The bonds
purchased have been, to great extent. confined TO
those of the smaller denomlnations-yiz., $50 and
$100--which goes to show that such an investment
is moro preferable than almost anything ese for tho
are aat teS w or not Ss r
who may get the best Of the diectors To Rhode
Islands credit DO it said her savings institutions
managed with remarkable skill and Judgment and
but few cases record where any irregularity"
or thicving has been discovered. During tho past
year the eak banks have been obliged to show their
hands, and in due time they will be
wound up and the victmized depositors
obliged to take what is offered in liquidation
of their claims. There are, according to the
last report Of tho State Auditor thirtyninc savings
institutions in the State, with 99s65 deposors. who
dcpostors OF $500 and under $1,000 is 1885, and the
number who have $1,000 and upward to their credit
il l47le. making an average to each depositor OF
S5o5 49, In one bank there is depositor who has
$4S.092 81 and in connection with this statement IL
can be said that the bank which has this heavy de-
81 deposits from the previous year $1g935 II,
and there has been decrease OF 40 depositors who
rates OF interest low and there Is disposition
the part Of those having money to lend It to those
who don't want it, while those who would like TO hire
lind IL very difcut matter to do So for
which viii suggest themselves.
HARD TIME 10 GET RICH
Many with whom your correspondent convorssd
assured him that they did not think the people as
general thing ia this State any better OF than
they last year or even during tho two previous
years, while, on the other hand. not few were
found who thought the masses better 5ir now
than they had been for long time They were hope.
ful and felt that the dawnng better days was ut
hand. and with tue resumption of specie pay
ments business would revive throughout the
land, and that tho lessons in economy and pru-
deiice which tho people had been learn.
ing for several years past would rebound
to their permanent advantage and would enable them
to be prepared to meet than they were
previous Black Friday II must bo confesse ed that
in this generally prosperous state the situation
has been decidedly uifavorable to increasing the
peoples wealth. The Following figures will show
that the number Of failures has increased during the
past Ave years but ii will also be observed that the
amount Of liabilities has steadily dccrcaacd-
fedr. No. III Failures liabilities
ls73... OBSERVATION-DISCLOSURES. IS $15,259,DOU
lsI4. ................ III 1,25U,uV1
1875. log C,2Si ZOO
1876. 1913 6,U7o.0U0
1877. ........................... la 3,GJU,0OD
Nlr1lsaa auasas AIal lna NM