The sun. [volume] (New York [N.Y.]) 1833-1916, 1882-12-03
THE SILK TRADE LAGOIN0.
Gloomy Prospects Acknowledged By Some
Patterson Manufacturers.

Patterson Manufacturers.
The silk industry In Paterson Is duller
than 1t has been for years. and the prospects
are anything but encouraging. All sorts of
rumors affecting the financial rating OF q mum.
her Of small manufacturers. some OF whom
have already failed are nnoat. The small fac
tories in Paterson are run peculiarly. With a
protective duty Of GO per cent. the prof
its are immense. This is shown by the way in
which tho business is conducted The
manufacturers make lot of goods on
credit for the stock and then take the goods to
New York commission agents. who make GER
tain advance OF cash in anticipation of the
sale Of the goods by auction. This advance
enables the manufacturers to get more stock
and mako another supply. The goods some
times bring remarkably low prices at auction
compared with what they fetch in the stores.
and yet the method seems to be satisfactory.
The most OF the immense profit. Of course, Is
npsroGu Oy the e0mniiss,Hn MS ms
and the goods bring fair prices, brit as soon as
there Is slack in the market from nm overstock-
II comes back on the small manufacturers
who must in time succunh: This period the
reached. and the prospects are that quite
number will have to go under. Probably the
remainder of the year. This situation is fully
appreciated BY al concerned, and those who
are considered IN the least shaky are now en-
periencng n good deal OF trouble in obtaining
necessary credits to cont nue their business.
At the various SILK dyeing estGbi shments
last week the propr!etors, said they we're
fairly busy on orders for the large manufac.
turers and they did not seem u think that
IN e w ss ira At BeSs rLlnft er c o
immense factory il was sud that there ~ Just
nov nr tt',e sau OF h"iIy business r n T% l
looms in the city than there had been for some
time, The weavcrs We're being dropped on
IftatlV no EnAn fll,.Ip ufaE -
ployncnt In the city than there had been in two
indicate II speedy resumption of brisk trade.
This firm said that all the manufacturers were
emergency enc cI which bic might and mirh; not come.
reaction was expected y the demand ior
prng o"d hut TN, Jd n%' eeme t S, ir
est. The veteran silk manufacturer and orig
inator of the business in Paterson, John Ryle,
at sea He could not tell the cause of the de-
preston in the, business. There was no ap.
parent cause. He did not believe anybody in
the business could assign the cause.
,bs an r OF the sunh rah IN
is very peculiar. 1t IS often sick. but never
dies, and although no one can tell when the re-,
viva will come ! Wn Is no doubt that That i viii
much distress, in Paterson"
with the present depression. because the goods
great extent The American silks are gen.
orally low-priced. and sell ut from 81 cents to
s R a! 9fd s wins tcd hs from to
70 r be- the aSt and aoW s9 there
the conclusion to Try the costly experiment OF
throwing aside all other work and deyoting
himself To- the production OF the eXpensiyI,
ali the same: The demand for silk landSer-
d chiefs which has long Kept many Paterson
factories busy seems TO have been mere
freak. and has died away as suddenly as it
came. Mr.. Rvle concluded that the undsrvalu-
alton Of foreign goods might have had an in
tiuence in making the present market. ~ there
have been dull limos on the Other side OF the
have had 10 compete with the product of for
e!gn looms entered below their real value.
Only the most rahid rnrE!lsnn mp n E
Commission has had anything to do with the
present state .i the marEet. All said they ap.
war tariff. which had been permitted to remain
for one reason or another and none regarded
i as perinnn"nt ARRANGEMENT. The manu-
I Commiss on have said that if the tariff was
made 40 or AZ per cent. instead of GO. the laws
honest basis. they would like it better than the
present apparent high tariff which does not
that the silk business in Paterson just now is
at low ahb. and the prospects for the future
are anything but encouraging. When it is con-
sderrd that fully 90 900 Of the 50 0UD people in
Paterson are dependent on this industry. its
The firm Of Il. 4 II. Adams Of Paterson.
which recently failed for nearly 81 900 900. may
Henry Adamss brother r hfrt who is looked
upon as the bnst II not the only man to lift the
concern our Of trouble; has accented prrnp9,
was the only way the creditors ielt that the
concern could be kept going.