The Warner sun. (Warner, Brown Co., Dakota [S.D.]) 1885-1???, 1886-01-22
a GREAT RISE IN RAW SILKS.
Excited State OF the European Mar
kafa.

Excited State or the European Mar
kets.
Among the recent arrivals from Eu-
rope, returning after nearly eight years
residence in France to settle and resume
the practice of law in this, his native
city, is ex-Consul Peixotto, of Lyons,
who is recognized both abroad and at
home as an authority in silk. The re-
cent rise in silk in Europe, which has
not only affected foreign but American
markets, which imports from eleven to
twelve million dollars annually of this
material for home manufacture, natur-
ally creates great interest among Ameri-
can manufacturers, the total production
of all kinds of silk goods in the United
States now reaching over forty millions
of dollars annually. A Tribune re-
porter called on MIR. Peixotto at his
office, No. 80 Broadway, and from an
interview gathered the following facts:
The advance in raw silks began in the
first week in November. An Italian
syndicate was formed with a reported
capital of 20, 900, 900 francs, and sue
ceeded without difficulty in obtaining
control of the principal markets. Milan,
Turin, Bergamo, Venice, Messina, Flor
ence, Verona in Italy, Lyons, Marseilles,
st. Etienne in France, Crefeld and FL
berfeld in Germany, Moscow in Russia,
Basic and Zurich in Switzerland, in fact
all the principal and secondary silk GEN.
tiers participated in the movement.
Prices of all grades of silk advanced
from 2 to 5 francs the kilo and finer
qualities to 6 and s francs. The rise
has continued in spite of the desperate
resistance of manufacturers, particular
ly those of Lyons, the greatest silk en-
porium of the world, where it is assert
ed no money has been made in the pro-
duction of silk fabrics for more than
FIVE years. This opposition, however,
had little effect, though supported by
the stubborn fact of long continued de-
preston, not to say decentralization, in
the business of silk goods. Having a
solid and legitimate basis, the rise in
prices continued and is still going on,
and is likely to increase as the orders for
the trade of the new year come pouring
in, as pour in they are likely to do, that
capricious goddess Fashion having at
length once again pronounced in favor
of pure silk goods, after several years of
coquetting with wool, cotton and other
materials as principal auxiliaries. The
famous dressmakers of Paris have is
sued their DEGREES, and the principal
fashion journals, both in Paris and Lon
don, confirm the ukase in favor of this
material.
1.-The fact is" said the ex-consul,
''never in history had silk fallen so low
as before this present rise. In 1868 the
best qualities of French organzine silk
sold for $50 to 100 francs the kilo; in
1876 the minimum price was rs to so
francs; at the commencement of the
present year prices had fallen to So
francs. China silks, which commanded
81 francs in 1868, had fallen to "a and
SO francs this year. Italian and all
other sorts had suffered a similar disas-
trous decline. The European silk in
dustry was reduced to starvation prices.
Hundreds of thousands of growers and
weavers were compelled to seek other
occupations. Millions of mulberry trees
were uprooted and other and more
profitable agricultural products plant
ed. There was a decrease in the pro-
duction of crops in China as well as in
Europe, while such countries as France
and Spain, whose silks were esteemed
the best as to quality, declined both in
quality and quantity. This years crop
in France, which formerly produced up
ward of two million kilos, fell off to
less than 600, 600 kilos. In Spain the
crop fell short % to 80 per cent, in Italy
from 10 to 20 per cent. while China has
had for export for several years past
scarcely more than $4,000 to 6 1000
bales.
Business in silk goods for several
years has hardly paid more than invest
ments in United States bonds. De-
preston in the silk trade, except for GER
tain novelties of extremely limited pro-
duction, has universally prevailed.
Notwithstanding all this, so varied
and diversified have been the uses to
which silk has been adapted that the
consumption all along has equalled the
production. Some few leading fabrics
have from time to time yielded hand
some profits, but in comparatively in
significant mount. Keeling and
throwing mills in France, Italy and
Spain were abandoned by the hundreds,
The wretched raiser of silk fell a prey
TO the capitalist and was either driven
to ruin outright or to mortgages. Half
the properties in France, and perhaps
as many in Italy, are under mortgage
to-day, while thousands are closed and
utterly crumbling to pieces.
ssIn face of this condition Of things,
viewing the actual state of stocks on
hand, the fact of manufacturers being
all but denuded of supplies, having
bought only from hand to mouth for
several years past, where formerly they
carried large quantities, the powerful
syndicate above alluded to organized
its campaign and has until now sue
cessfully prosecuted its work. / con-
slider this work to be legitimate, having