Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1884-12-31
BRIGHTER DAYS DAWNlNG.

NEW YORK, Dec. Z6.-Ihe Herald
this morning prints letter from Fall
River, Mass, showing the real condition
of the mills in that city and the out
look for owners and operators. It says
"The real condition of trade here has
not been such as to warrant any one in
believing the sensational reports which
appear in newspapers outside the city.
Articles ere frequently written solely in
the interest of mill owners and opera
tives as well and thus great injustice
done both classes. A Herald represen-
tative who carefully and impartially
looked the field over, conversed with
mill officials, business men and opera
tives has reached the following conclu-
sion in reference to the situation: Forty
odd mills are running, affording en-
ployment to all operatives at
the wages paid since the strike
a year ago. No strikes are contem-
plated, and no further reduction is sug-
gested. The operatives here are intelli-
gent, and can see from the market re-
ports that print cloths are being manu-
featured at an actual loss of three-six-
teenths of a acent per yard to the mill
owners. With one or two exceptions,
the mill corporations will pay no divi-
dend on January, and those that do will
pay from the surplus of former years.
These facts cause an unusual friendli-
ness between the operatives and own
ers. Mill officials assert that the worst
is over. Many operatives own shares in
the mills. Mill stock heretofore has
been a paying investment. Many
investors were carried away with large
dividends In the past, and everybody
desired to speculate; hence, the fever
was contagious, and to-day finds the in
habitants of Spindle City saddled with
unproductive property. It is reasonable
to believe the assertions of mill officials
that the worst is over. They, as well as
others, point to the fact that the holders
of stocks are unwilling to sell OF the
market price. During the year there
has been only a few transactions and
brokers had hard work to keep their
heads above water. Weekly sales are
poorly attended. Brokers predict rise
very soon, and they seem to
see silver lining to the clouds. They
know there is no local remedy for
the present depression, as Fall River
does not control the print cloth market,
Notwithstanding that at present she
produces 10000 pieces of As yards each
week. Storekeepers have not recovered
from the effects of the last strike and
the subsequent running on short time,
which took about $750,000 from circula-
ton. They treat operatives well and
give them weekly, semi-weekly and
monthly credit, while many of them,
especially house furnishers, have inaug-
urated an economical loan system which
does not include the extortion usual
in such branches of business in
many places. The most suffer
ing among operatives comes from
the saloons which infest the city. In
quiry at the savings bank. post-office
and at the emigration agencies revealed
some interesting facts. The post-office
officials state that the operatives, de-
spite dull times and losses incurred by
the last strike, have generally remem-
bered their friends and relatives in the
old country during the year, and that
the amount forwarded through the for
eign money order department. was only
% per cent. less than last year. A
leading emigrant agent states that dur
ing the year he has sold between $780,
600 and 100000 worth of drafts,
and as far as he can esti-
mate one half this sum was
sent by operatives. The amount
forwarded for Christmas was considera-
bly, larger than in 1882 and 1888.
These facts speak for themselves. A
new mill is now being built, which will
soon put 10000 more spindles into OPP
Grafton. Fall River is to-day making
$4,000 feet of print goods per hour, be-
sides sheetings, shirtings and goods for
conversion. Although manufacturing
10000 pieces of print cloths per week,
it should be stated that only two weeks
production accumulates. This fact, to-
gether with the stiffness of the market,
is the reason which manufacturers give
for hopefulness of the future"