The times. [volume] (Richmond, Va.) 1890-1903, 1893-07-21

Lack OF Orders Causes Several To Close.
Many Laborers Out Of Work.

MILTON MILLS. N. H., July 2O.-The
fgent Of the Waumbeck Company has
issued orders FOR closing the mills here
for three months. as soon rs the goods
| now In process Of manufacture are fiu-
ished The reason assigned for this
action is lack Of orders, except at
ruinous prices.
This is the first time in the history Of
this company that work has bee1 ordered
20 cease on account OF the condition Of
the markets. and the present action will
be serious blow 10 many employees
who are dependent upon their earnings
In these mills for their support.
PORTLAND. Me. July 2O.-At direc-
tors meeting to-day it was decided 10
shut down the mills OF the Westbrook
Manufacturing Company. makers OF
ginghams. from July 9th until September
Attn. There are three reasons that unite
10 cause the shutdown. The goods now
being manufactured cannot be sold until
October. and nc money can be realized
upon them until next spring 1t is not
deemed advisable 10 pile up goods. The
mill has been In operation thirty years
without "A shutdown, and some repairs
are necessary.
why the Mills Are Shutting Down.
FALL RIVER. MASS, July 2O.-The
Daily Evening News says tonight edi-
torially regarding the situation: Brokers
are offering 7-Sc. for print cloths, which
Is less than the cost OF production. Pre-
dictions are made that some mills will
have 10 break or sell al that price 10
get money TO pay their help, II the looms
are 10 be kept in motion. With the
close Of July contracts, manufacturers
will face the alternative Of shutting
down and selling at less than cost, or
paying exorbitant rates for money 10
meet their pay-rolls. Few corporations
in the country are so well prepared for
hard times as the Fall River mills. Most
Of them are out Of debt, and have
handsome surplus accounts. but 10 run
with the certainty OF piling up goods and
carrying them at high rates Of interest.
and Of selling at less than the cost or
production. are conditions that confront
them. The other alternative Is TO shut
down the mills, by which II Is claimed,
the stringency Of the money market
will be lessened 10 some extent, conii-
dence restored. and the return Of pros
perity would be hastened. No concerted
action has yet been taken. but the air
is full Of talk Of a shutdown, or re-
duction I'm wages.
Fall River has not yet realized the
suffering that many localities are ex-
periencing. but IL will require the best
thought and energies Of our business
men 10 minimize the effect Of the blow
10 local prosperity that is approaching.
II severe measures are necessary, the
present season Of the year Is the best
time 10 adopt them for the welfare OF
laboring men and women.
Iron Mines Shut Down.
PLATTSBURG. n. Y, July 20.-The |
Chataque ore and Iron Company, whose
mines and iron foundries are located at
Lyon Mountain, closed down to-day as |
did also the Crown Point Iron Cap Mines |
and Iron Makers at Crown Point The |
cause given Is dullness in the iron trade. |
About one thousand men are thrown
out Of employment.
BALTIMORE. July 20.-A third fur
mace Of the Maryland Steel Company at
Sparrow's Point was banked last night.
all the furnaces which had
been I'm operation out Of blast. About
300 laborers are out Of employment from
he shutdown. The Bessemer Steel
NH will be run three days In the week
and will use the supply Of pig-iron which
has accumulated at the works.