Orleans County monitor. [volume] (Barton, Vt.) 1872-1953, 1880-12-20
LETTER FROM NEW YORK.
ESPECIAL CORRESPONDENCE OF THE MONITOR
Nnxu Vnnu H. 10 1OOn

CORRESPONDENCE OF THE MONITOR.l
NEW YORK, Dec. Is, 1880.
Coffee ought to be cheap but suppose
it won't be for the multitude, however
the grocers may profit by the turn of
events, for there has been another ire
mendoes failure by house who were
trying to engineer corner in that nee
essity of modern American life. Arnold
& Co. were among our older merchants,
very wealthy, and known all over the
world. They enjoy great reputation
for shrewdness and prompt initiative.
At one time largely engaged in the
China trade, and close rivals of the
Lows, they drifted into more general
importing business, and adopting some
thing of the Vanderbilt tactics, sought
control of many lines when they found
others prospecting and crowded out
weaker firms remorsely. If an enter
prising house struck lead, in say tin
foil from Madagascar (of course l only
use this by way of illustration), they
would find out who bought 1t and then
offer to import 1t cheaper. This proce-
dure in long course of years made
them many and bitter enemies, for the
men they ruined could not forgive this
cruel and apparently unnecessary inter-
ference, but it helped to make them
rich. Finally they dived heavily into
coffee and the depression that has over
taken that interest, and caused several
failures lately. Something went wrong,
however. and they have fallen into the
pit themselves. At least dozen banks
are among their creditors and their
coffee overruns many storage warehouses
all over every important port of entry
and many inland cities of the United
States. Crops at the scene of produc
ton have been forestalled by them, and
cargoes consigned to them are being
hurried over the ocean from all dirce
tions. 1t is a colossal failure and i
speaks we'll for the healthiness of bust
ness that its effect is so small.
The locking up of 100000 bushel
of grain by the early freeze in the cana
: regions, is another disaster for certain
produce spectators, and is lesson t
over greedy people not to daily till tn
n the last minute before ordering good
A forward in the hope of squeezing othe
folks. The shoe is on the other foe
e this time with several of our smar
Ie operators.
'r All the incoming steamers continu
, to be very much overdue and report tie
p rible weather at sea.
" The Roman Catholic Sisters of Char
re ty have been famous the world over Fl
ut their deeds of gentle mercy to all suffe
- ers, irrespective of creed or color, an
i. it is pleasant to find that recognition
g. this fact is becoming common amor
w even the straitest sectarians of other
or nominations. The Brooklyn branch
~ the sisterhood are now engaged in ra
to lug funds for building on large sea
at new St. Mary's hospital to replace t
present restricted accommodations n,
Dr. at their disposal and the Rev. Hy;
MS Smith-Congressman elect for the d
ne trict now represented by that bumptic
IN little windbag 5. B. Chittenden. who
the so loved by dry goods men, becau
me after he had retired from business W
up an enormous fortune, he went out of
ate way in an excess of newly crammed a
unassimilated information about pol