New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-02-09
RITBBER TRADE DEPRESSED.
FACTORIES TO BE CLOSED TOMORROW.

FACTORIES III DE- CLOcED lO-hOhhO"'
A MEETING OF MANUFACTURERS YESTERDAY
CAUSES OF THE DEPRESSION.
Tn accordance with an agreement made by the
CONSERVATIVES OF the leading rubber companies OF
The United States who met in this city last month,
the following companies will close their factories
tomorrow: The New-Brunswick, the Meyer and
the New-Jersey of New Brunswick, n. j.; the Good
year Metallic, the Goodyear India Rubber
Glove, and the Boston Company, of Boston
the l.. Candee and the National, OF
Bristol r. l.; the Woonsocket of Woonsocket, K.
l.; the Union, of Harlem; the Lambertville, n. D."
and the Haywood, of Colchester, Conn. The clos
ing of these factories will throw at least oooo per-
sons ont of EMPLOYMENT The reasons for thls ac-
tion of tho manufacturers have already Deeh gwen
In THE TRIBUNE. Never In the history Vi 'n'
Der trade have prices been so hlgh as uu'ins INV
last four months. These high prices are sad u oe
dine largely to the operations OF cnques "ni'n a."
working towards speculative ends. Inc opp '"N,
ties for controlling the ruDber n'aAo''
40 stated offer an excellent chance for spectators
so long as the supply nearly equals the u'ianu'
For several years the prices have been advancing
This has been due TO the effects of two cliQues, one
comnosed of Portuguese merchants whose headquar-
te,s are at Lisbon and the other composed OF Jews
whose Headquarters are at London and Liverpool
These houses backed by capitalists and operators IN
the United States have succeeded in monopohzlhg
the products of the Amazon. To the ambition OF
these caues rubberdealers say, must be traced the
recent unparalleled advance in the rubber
market Undoubtedly they were stimulated
by the fact that manufacturers last
epring. finding that the demand had overtaken the
supply, made heavy purchases to cover their wants
at comparatively high prices. From the staghat1on
of trade which now exists it is thought that this
stimulative demand has ceased. Manufacturers
admit that there is a surplus amount of goods in the
rOuntry and assert that If only one-haf or the rub
Der machinery of the world were kept III nouon the
production would meet the demand. The alarm
felt found expression IN the conventions which
have been held In this city. After due delibera-
ton the manufacturers Geclaeu 70 suS-
Due-half until time should arrive Wnen tney coma
see reasonable basis for resuming They fixed the
crude rubber had advanced. Their contracts had
been made, and there was no chancetor them to es-
cane when the rise came. The factories were kept
rnnniug AT a loss. The reduction in the consump-
ton of crude rubber which was made last month
has diminished this loss somewhat. The closing OF
the factories Saturday Is declared 10 De the only
remedy out of their dlthculty. -
One manufacturer said 10 a TRIBUNE reporter
yesterday that it appeared IRON letters which
he had received from South America
that the receivers on the Amazon have
been given exaggerated and incorrect rel orts OF the
movements of manufacturers here. One OF the
largest spectators at Para seeing that he was not
strong enough to force up the market alone, sue
ceeded in deluding the receivers INTO the beef that
the manufacturers of the United States were com
Inning TO prevent them from realizing fair profit
on their rubber, and that In order TO save them,
selves from loss they should combine with INN 10 hold
their stock at a high value This was very shrewd
movement the part OF the Spectator, as he sup
posed there would be sufficient time to unload is
large holdings before any agreement was made.
Unfortunately for himself and those associated
with him. the situation of the market has not
helped him out of his troubles. The manufactures
also said that if this Spectator would leave the Para
receivers alone they and the consumers here would
be much better of the interests OF the latter are
identical. At present both buyers and
for they did not know what 10 do. The
manufacturers said that they would not mind pay;
ing 81 pound for their crude rubber, If they could
sell their goods at couespondlngly advanced hg-
ure but for them to to work and turn out goods
rubber at 81 a pound, and sell them few months
later at discount Of 20 per cent, would be more
than any company could stand THIS .o was the Sc
since it became known that the de-
ciaOn of the convention would be car
ried out, there has been gradual decline
in rubber Fine Para has already sold as low 90
cents per pound but II must SINK TO oO or 90 cents
it was declared, before manufacturers can resume
A private meeting Of the rubber manufacturers
was held at the Aston House yesterday. represent
atives from fifteen of the eadidg rubber companies
of the United States were present The object or
the conventions held in tins city in the last four
months had been to discuss the condition and out
look of the rubber market But as the
announcement of the rubber shoe companies that
they would close their factories tomorrow
had already settled the situation III favor of de-
cline in the prices Of crude rubber, the convention
YESTERDAY devoted It's attention TO consideration
of the ACCESSIBILITY of forming consolidated rubber,
manufacturing company which should include an
the best companies now doing business IN thls
country. There was considerable diversity In the
opinions OK pressed by those present. some were
decidedly opposed to the proposition on the ground
that they did not desire TO have their identity
swallowed up by huge corporation; Others favored
tine proec; declaring that II was the easiest solution
of the difficulties which are liable 10 arise b0th III
the market for crude rubber and that Tor manufac-
tured goods II was also argued that in case such
a company was formed, rubber could be purchased
In foreign markets al a much more favorable figure
than AT present The different factories could then
be devoted to specialtes and would be able to turn
ont first-eass goods at lower cost. After general
discusson of the subject ii decided TO leave the
matter TO a committee Of SIX manufac lurers, who
will make their report at the next meeting.