New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1889-01-05
THE SILK SYNDICATE.
OPINIONS OF BUSINESS MEN ABOUT IT.
MANY THINK THAT THE MOVEMENT WILL

MANY THINK THAT THE MoVEMENT "ihA
PROVE TO BE GOOD THING
A Tribune reporter called upon NUMBER OF "ee-
clients of the city yesterday to gain inioFma"ou ~
rariinr the syndicate in silks which has been former
,,.,r a,s he ssects upon utccs During the fall
Of 1885, said prominent importer, the ID" "a-
tevial OF silk fell TO prices which were never eco0
known When in September the actnaA q"~""'e'
produced in the East, as well as ID Hui'Pe' -
known Il was found That there was shoiF supply -
comparison with former years me co"',n.'N
ing off I'm prices had the effect in Europe ana Hn0i
Of seepng the manufacturers very short In supplies o
hand This finally brought about cohd'uou ~" ~,
induced number of large banking firms ana IA" Sn
bouses on the Continent to buy up the arucie. i"o
MANAGEMENT OF the purchases was nrus'eo u
Cucrin Son & Co, OF Paris. am uncertain WV ~
other members arc although understand '"a' 80
Ncw-York firms largely interested III ,''e
prise. The effect upon the market Wy W
chases Is already noticeable. There has oeeh si.'
ual though moderate advance In the proee ~
while prices to-day are 10 per cent higner 'n" nv
ro,e ono month ago they still as low as 'hcs o'e
,crs beforc the fall of 1888. Since the houses ""'.
Arc interested I'm the syndicate are OF grea' i'a.>
strength, there seems no doubt tha' 'ho' "' " A. an
maintain the advances made, ana perhaps "u' ""0o
SIN further until, the crop comes In III 'upe' $3.50.
roher. McCreery, o. the silk department OF 'a"''
Metre o..
interested in the syndicate. but he thought ,ha' 0'
,ve,r Identical with those of last season. Iha' ss
d;ca,cs continued Mr. McCreery, was founded al INC
fine when the cocoons were ready to De oousu" Inv
farmers found the business unproh'aoie' anu ~
courage them the syndicate was formed ino! 80 80
ALL the silk both in Europe and Asia Inc ho'h''"''
and German end Russian bankers advanced ~
dca, of money This, fancy Is 'he S"he mt .
however. they may have especial object III VIC"
hoc a
,N, ,ie entir, season has been as cheap as e'oi
ho.ore I have moi taken the interest In IL WHICH
,nirbt otherwise have done. because maze Id k 0
tracts before the rise IN prices, ana IL VIII" .
M, affect me materially Since put in my contracts
{, has risen 80 cents pound. The same oil" go,
wss offe,ed at So so pound at that u".o 10 -,
VOW for ~ 80 Our storehousc is fun OF goouS' W
sjdcs those which we have in Europe anu III 'n'
.hrov-ue MILL used 10 avoid paying the uus vi
.,b,o,rp, silk The syndicate will undoup'edi! a'0'
,be rrtces still The trade VIII Doom loI 'no ~
being About go per cent OF the SILK hi"' no
been idle ND 10 the time Of this formation, anu
there are no, more than 40 per cent Idle. ihe o"o
for spring is very good. the Hse III SIN n'',"e Ia
ceuent effect mon tho market. But 1t VIII oiS "
Temporary We shall have a depression lono"''e Wv
,ise Personally. J hope il will not come
T. W prar.air, manager OF the SIZE department "
l. : Jan,av 4 Co.. sad that their LONDON houeo
had. sent word more than "o r.,
,pforroinq Them of The formation OF the syhuiCdo'
I,o hco, ,olj II. added that two New-for hrns'
,uo rrcnci bou<-s 4 ID In England ana laiS' aro
a.. chief opcs came. ted with the scheme Tho adVahce
=, tho s,.. n. v hch has leon about 81, causen ny
,ho srrd,c,tc has ma The market simply hriher'
,cn er. have teeS.aghed here tha' therc
lave becn s,'vanc In all iheir stuifs "helhcr ',
s,rco c.u lie ATTAINED rests with the future dehla'u'
7, socr,s nro,a5c however. that they Will get IT,
bscause hc trade promises better for the spring IMAM
IT has for several years ~
At lions fhe merchants and manuiac'"rois a'
y,,v mich excited over the matter. we arc So
-,,d ~ e. hardly think a depression will foio"'
Ian. believe iley viii be abio 10 hold the prices some
,,ro The svnd., aic could not have been formed al
a tcrer no.rcni because the manufacturers nave
hcen Twin glao,i from hand TO mouth Ibey nave
had no stoch on hand. since 1883 the decline III
p,iccs hG> h'e9 Vc.y great. ,,, ,o.r.
" H. Jai-at;. who has charge OF the siia depart
r,cnt in Ire FINN OF X. Is. Clatn Il CO.. was OF
o,,irion fhst III, syndicate had not lhh'chCed 'ho
r,arIc, ma; rally as yr;. " ! hardly hnow lie said
:" VIE. ere; % wiz finally EaFc ne ave o ma
b,.r aert 20 per cent. Every lttto rise IS wecome
iccous, We LcVc lad such rooi MARKET anu e M
II :, .ifcrefhcns tins il will be anvaniaeeons inc
fi,,,z .ugasrl in tie business In ibis cy nave Deen
loo th's ,-n' ron NJ De pciifaNeh'; ih h nae
irs i.t n - chang IN thr prices 80 FAR however.
C1o coed fii". g. that the l1!rigE mannacrers are
lrsr vi Or. which va! cN'N,faHN aiec' 's Us III
-. c-.n'l,- Tia. ureht - be BENEFICIAL Ihey
ar ,irariuc t1r the cNDOsi'1n ~ laFiS ana thlSS
Ir.r hriclf 3? Tic TGdc 10 Bern had drrinc the
last 80 g. ihr' year. that We like cloWhlns men,
ri..ch 3: pryi, IT,. &ils, yOr lnow. are coming into
f,sinr gan I'D will suUpiari in pait the Wo0llcn
r.,.cs. NV much prices VIII Change in consequence
! cgurc- .ay.' 800
tow q? r:ouncn' n;c'crants either agreed with
40 .ta..,o1t. cvcn above hal formed opinion
rc.a id.ns ;'c syndicate and lis effects