The New York herald., 1879-09-18
EUROPEAN TRADE.
THE OUTLOOK IN EUROPE RESPECTING BUsI-
NESS PROsPECTs-oPINIoNs OF LEADING
ENGLISH JOURNALS.
BY CABLE TO THE HERALD

- OS~~SOOAA
NESS pRosPEcTs-oPINIoNs OF LEADING
ENGLISH JOURNALS.
BY CABLE TO THE HERALD
LONDON Sept. II. 1879.
The Times in its financial article, says:-"we have
every reason to anticipate that the revving trade
will find capitalists better able take advantage
OF it than in former years in consequence of the
tious attitude they have maintained by refusing to
support speculative concerns like many companies
now being launched in Paris 1t to be feared that
French spectators and promoters of new CON-
panies have been for some time past preparing the
way for serious financial crisis in the Paris mar
ket. The course now being pursued in Paris is the
one dangerous element which mars the otherwise
generally promising commercial prospect. Al
though the revenue Of France has been wonderfully
elastic of late years the grain harvest Of this
year is partial failure, and of silk there is
not even half average yield. Circumstances gen
orally seem to show that the French fnanciers
should be taking in sail instead adding daily to
the list of new companies. As legards England,
Judging from very sensible decrease of COM
mercial failures there is reason to beaye that the
purging process has at length prepared the way
fos revival of prosperity. We hear much
less about the depreciation of silver atsct.
ing trade with the East. There is snail
miscellaneous metals are going abroad rather more
freely. Hemp and jute merchants declare that busi
has been better during the past few months
that at any time for the last five years. There
also signs of coming improvement in the cotton
market the stocks of yarn and goods being smaller
than at any time since the American war;. The Man.
chester Guardian says:-"Unt scarcity begins to be
actually felt and not merely threatened. it is not
likely that the short time policy at Old
ham will have any marked effect upon the
demand or prices. The deficiency in the supply of
cotton which is now being painfully realized means
ultimately deficiency in the supply OF yarns and
cloth. The quantity of cotton available during the
tion of more than 10000 bales per week ut the ut
most, and as the stocks of yarn and cloth
where large it is probable that the process of
failing production which is now gaining ground
much more healthy demand
ENGLAND's LABOR TROUBLES-srRIKEs AND REDUC-
THE COTTON TRADE-FAILUREs
The cotton operatives at the Bedford New Mills
at Leigh yesterday struck against five per cent re-
duction OF their wages. The masters threaten to
close the mills. which are extensive, alleging that
they can buy goods cheaper than they can produce
them.
The masters at Ashton have refused to grant an
interview to the operatives. The selfactor wnders.
who form the main strength OF tho strike,
would resume wock il the notices Of re
duction of wages withdrawn, If only
for a month, and the question Of reduction then be
The masters however feel difficulty in departing
from their resolution, that reduction of wages
has been accepted at Staleybridge and elsewhere.
The Cotton Spinners' Association has declared in
favor of the adoption OF the short time system of
working.
The Sovereign Mills at Preston have closed for an
work. Several Preston mill owners have announced
their intention to close their mills during the next
three months
Sir Edmund Currie's distilery, in Leonard street.
Bromley by Bow London, was burned on Tuesday.
The damage is variously estimated at from f200.000
to f4OO,0OO.