Pierre weekly free press. (Pierre, S.D.) 1889-19??, 1892-04-21
AGREA1 RISE IN RAW SILKS.
Excited State of the European STAR

-
Excited State of the European mar-
! '-s- .---,-- --.-.--..-,- kets.
Among the recent arrivals from Eu-
rope, returning after nearly eigh, years
residence III France 10 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 bnt American
markets, which imports from eleven to
| twelve million dollars annually of this
material for home manufacture. natur-
ally creates great interest among Amcri-
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 reported
capital Of 20,00O,0oO francs. and sue
ceeded without difficulty in obtaining
control of the principal markets. Milan.
Turin, Bcrgamo, Venice, Mcssina Flor
cncc. Verona in Italy. Lyons. Marseiles,
st E.iennc in France, Crcfcld and FL
| berfcld in Germany, Moscow in Russia,
/ Basic and Zurich in Switzerland, in fact
all the principal AMI secondary silk CEN
ters participated in the movement
Prices Of all grades Of silk advanced
from 2 to b francs the kilo and finer
| qualities TO 6 and francs TIE rise
has continued in spite OF the desperate
resistance OF manufacturers. particular
" thost. oil Lyons, The greatest silk en-
! porinm OF the world, where ii is assert
cd no money has been made in the pro-
ducion of silk fabrics for more than
five years. his opposition. however.
had little effect. though supported hv
the stubborn fac, of long coniiut."d de
| pression, not to say characterization IN
the business Of silk goods. Having y
solid and legitimate basis. the rise in
prices continued and is still going on.
and is likely 10 increase AS the orders for
the trade OF the new wear come pouring
in, as pour III they arc likely to do. ,h:.,
capricions goddess Fashion having Mt
length once again pronounced in favor
of pure silk goods. after several years of
coquetting with wool, cotton and other
materials as principal auxiiiarcs. The
famous ,dressmakcrs 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 cx-consul.
"ncvcr in history had silk fallen so low
as before this present rise In 1868 the
best qualities of French organzinc 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 10 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 similar disas-
trous decline. The European silk in
dustry was reduced to starvation prices.
Hundreds of thousands of growers and
weavcrs were compelled to seek other
occupations. Millions of mulberry trees
were uprootcd and other and more
profitable agricultural products plant
cd. There was 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 100000 kilos. In Spain the
crop fell short % to 80 per cent, i'll Italy
from Is to 20 per cent. while China has
had for export for several years pas,
scarcely more than $4,000 to $4,000
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.
ductioD, has universally prevailed. 1a.s
4 Notwithstanding all this, so varied
and diversified have been the uses tic
which silk has been adapted that the
consumption all along has equalled the
production. Some few loading fabric.
have from time to time yielded haLd
some profits, but in comparatively in,
significant amount. Keeling and
throwing mills in France, Italy anc
Spain were abandoned by the hundreds
The wretched raiser of silk fell prey
TO the capitalist and was either driver
to ruin outright or to mortgages Hal
the properties in France. and perhap.
as many in Italy. are under mortgage
to-day, while thousands are closed anc
utterly crumbling to pieces. H. w.
elm face of this condition of things
A viewing the actual stute of stocks or
hand. the fact OF manufacturers being
all but denuded of suppiies, having
bought only from hand to mouth fol-
Z 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. I con.
slider this work TO be Legitimate, having
for its object the permanent revival o.
the six industry, as we'll as for the i'm
& mediate promoters. Silk hes advanced
in the past two months from 10 to x
Isper cent; taking Ill sorts, The average
had been f"lly is per cent. II is DIES
q tined TO &c s:gher. The demand fol