New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-08-17
dltion, of the properties are changed said the re-

Yes, for the BETTER. MI huinP"iey'
"The physical condition of every ROAD improves
from the nature of things with tline' Eve" W.
increased bonded debts the railroads are In oe''er
condition unless the increase represents no improve
ments pIaced on the roads; and no railroad MANA
er increases its obligations without receiving Vaiue
therefor"
Charles Lanier, of Winslow Lanier d Co.. re-
turned to the city yesterday. He has been IN
Europe and SAID, sInilingiy ies
have escaped the lively times III
Wall Street IN the last few days. can see no reason
why everything should not move along smoothly
and conseryatvely. The business OF the country
is in a healthy and prosperous CONDITION. Inc
trouble in Wall Street has been local Yes, tnere HAS
been a considerable shrInkage In gram ana pro-
duce: there was room for 1t. There had beeh
speculation in these products. 1t could
continue for while, but people eo"ia
not carry their loads always and so they
had to drop them. But the contraction mas no.
disturbed the industries of the county,. i think
that people are more ikelg than ever to buy goOu
railroad bonds Those Investments generaiy are
made after sach furry as that WEIGH We nave h"u
"WnIle there has been trouble outside OF wall
Street." said Mayor Edison d" it has al come 1roul
reckless speculation do not thlhk mere rs a ah
reason for SIaup. Business houses that nave ae-
hered TO their legitimate trade and nave hot az
tempted to make large gains by speculation are an
right Inc failure IL Tie lafd tiaee, toI otOo'
caused by the widest kind of speculation-an Az
tempt to control all the lard in the county. Oiher
failures can be traced TO similar causes. :.
"Do you think these failures Will nave o'S-
astrous effect on business in general r.
'On the contrary believe il will clear tfe at
mos9here, and that by September we shall pe Oh
better footing. hear OF no trouble among houses
that have not been Specializing. There Is short
winter wheat crop which Will nave come enEct pus
that wiki be III part made up oy gooH %, e'oP rb S
spring wheat. i see no cause Tor any alerIn lug
business of the country, In my oplniOn Is IL soo"
condition"
PURIFIcAToN OF THE BUSINESS ATMOSPHERE
Alexander T. Orr, leading member OF the Pro-
duce Exchange, said: There is a.Good deal OF I'M
easy feeling in the community with regard 10 me
present depression, but it is more the result
of sensational whiting in some OF the news
papers than anythng else. The stock market
is not the proper index of the business CONDITION "a
the country any more than the Chicago markets,
under the influence of the bull and bear cliques,
are the proper index or the breadstuiis market.
The country is rich, and any body Can borrow
money at 3 per cent. ANY kind of good security
will bring money now at low rate; so that when
YOU learn Of failure either of individual or OF
corporation, you may set ii down that
it is because it is rotten at the core
and has been 80 for long time
think there Will be. aud there is, good deal of
liquidation and If pe"Ce we're 80 lose their heads
such condition OF things ~ existed IN 1919, ana
compared with that time the country Is rich and
prosperous.
n legitimate business with prospect OF good re-
turns If the desire 10 berOme rich too fast Is not
the main object in view. These sruSaiO9u tSl-
nres will no d0Gbt prove decidedly bene1clal-i
mean nose like The leather failures IN New-Lbgah1
and the Ialuu failure. The leather INNS were
rotten throughout, and We, had citdlt thal
enabled them 10 hay in competition w:th solvent
concerns ard cOmEeiI ii them tc sell ~ fuihons
prices TO meet engagements be IeaiLer tIaue mas
heeu afflicted with thc,e people for long lule ana
II is Od-send thai tbey are laid an lhe Sbet anu
thririnilueIce destroyed. The balance oI tTaue
il also IN favor of tins country ana II the ioolisn
aud :uicidal policy OF the rampant Iree-tradc1s l.
not followed there Is no reason why IL Sbouiu hoI
continue So" -, ~ l.,
Forrest IT, Parker, ex- president OF the Produce
Exchange and president OF the Produce Exchange
Bank SAID: " / don't see any cause Tor alarm
further than this - When there Is general
iee!Ing of distrust In the community u y
not possible to tell just what harm II VIII no. 40
moi think there is any reason Ion more thAn con-
servaiiye feeling ! think the very fact That SO lew
failures have occurred ateT sucl a serious decline
shows that the really sound portion 0i The D1 slness
community is IN healthy state. Speculation
and Others who have been dealing IN uncor-
tam securities will 80 doubt labor under nuch
embarrassment 10 keep their schemes aioat. Tut ne
are not in the condition OF things Tor irpeililoh
OF the pauic of 1873, aud such posslbiilly can
hardly be sugzested. The present situation IL the
natural reaction OF the wild speculation o. te last
two vehrs."
RUMORs N THE DRY GOODS TRADE DENIED
A TRIBUNE reporter held the following oOu'erSa
ton yesterday with Mr. John II. Reed, OF the we'll
known dry-poods firm of Bates. Reed q Cooley.
concerning the rllriors regarding ms hfm aHu me
dry-goods trade generally:
Reporter-Mr Reed, " ali Street rumors seem de-
ternin,d 10 have IL that your tlnn is in an rubar-
rassed condition gnanelally Have you any 'hIng
further 10 say IN regard tn TINS matterl
Mr, Reed can a0d to my former statement 10
YOU that every dollars worth OF iner-
ee Cha bought ". my. firm between jan
narv and July 1 Of THIS year was
discounted within from ten to sixty days Of
in purchase date, that on July We did not owe
for ,nerehanCse IN this country or III Europe sin
gle dollar due or TO become due. and We had money
enough on deposit III hanks 10 pay all oar notes
ma urng IN he uontn Of jay. Ard since HE brst
day OF July We have anticipated Our
merchandise purchases to the extent OF about
800 0OO and our entire bulls payable Tor the
mont of August are all charged up and deducted
rom our bank balances. Besides which We have
considerably over Si50,0O0 cash on hand. We
have no bulls worth mentioning that mature before
September 10 10 80, aud orr entire bii4s pava0ie
Tor the month Of September are Uniy 4IZ,0OJ,
while our mouey receipts for merchandise
alone Cor that month last year were over
$3.50 900. In addition TO tins. we have III our
pocket book nearly hall million dollars ~ Oils
receivable upon which we could at any Time realize
the money. If you can see any evidence OF iaiurr'
or even of weakness in this condition Oi our Affairs,
| wudid like 10 have you point u out
Reporte1-M-. Reed. what, III yoCf opinion, Is the
immediate cause OF these rnin"Isf
for stOc8jObblng purposes belDg circulated III
regard 10 our own aud three other houses ny tue
ear side of the market. which IN it's eager desire
@ break the price OF stocks. has not htltated 10
ilay th the charac er aud reputation oil "elI-ts-
abshed business houses. hOpiag thereby 10 excte
distIust ID regard 10 tue dry go0is trade,
and so break the price list of toe entire stock
kel IN which operation they would hope 10 reap
large benefit
keporter-Mr. Reed what in your judgment rs
the remedy for tins state of ahalIsY
Mr. Reed can speak only ain general terms By
SAVING there is nothing III the condition OF the
country at large, toe crops thai are ra'sed or Tue
| business taat Is being done 10 canse fear or
| even uneasiness on The part of mOneyed men. On
! the contrary, there IS ia most OF the
| States a favorable outlook regard 10 the
| value of tire crops gathered or growing, and the
nsiness thai may be exp.cled result from ;heIr