The Windham County reformer. (Battleboro, Vt.) 1876-1897, 1893-09-15
VERMONT, FRIDAY. September Is. 1893.
THE LOCAL OUTLOOK.

THE LOCAL OUTLOOK.
What dur FlnancIers and Manufacturer,
| Say About Monetary and Industrial Pros
| pends on the Repeal Of the sherman Ac
Some Interesting and Instructive Opln-
ions.
Brattleboro catches the pulsation of hopt
and prosperity and returning business vigol
that is being felt through the country. 1t II
q little remarkable-aDd Gin fact the reviva
throughout the country Is w0nderful-be
cause the trouble was SO late In striking u.
that we would expect the recovery to be
about the last, and this especially with az
industry such as our leading one. the manu-
facture OF organs, luxury that Ia bought by
people of moderate means. But the fact Il
that the Carpenter Organ Co., finds business
month, and Its pay roll for August was but q
few hundred dOllars below the ordinary. The
Estey Organ Co., being:so much larger an es-
tablishment, 10 not SO much or quickly affect.
ed by the change, being like q great animal
with far-oxtending limbs through which It
takes more time for sensation to reach. The
Estey business, with it, enormous extent and
Its branch houses In every part Of the coun.
try, Is at any time prepared from Its stocks
of goods on hanG, to meet several weeks
demand and naturally orders have to come In
large number to accelerate the motion of its
wheels again But It is now ruuning at q
threc.fourths rate. s. A. Smith & Co., are
It'll shut down, but expect to start up next
week to some extent.
Our financiers and our business leaders are
as one Ia their expressions Of confidence.
President Dowley OF the Vermont National
bank. said yesterday: "There is no question
that the worst of the squeeze is over. There
10 more confidence In business circles, rates
of interest have dropped off and there is a
good deal of an investment demand, which
shows that the people are getting back their
senses. Right here the average man hasn't
known there was panic. l attribute that to
the fact that our banks were not obliged to
contract loans on them. Nobody has heen
squeezed or gone to the wall for lack of
funds. All have got what they needed.
Ii the senate repeals the Sherman act l pre-.
dict a good fall trade. II 1t had acted prompt
ly after the house did we should be doing quite
q hummlng business today. There Is not great
amount OF manufactured goods on hand as
should judge. This panic. while 1t lasted, was
much severer than that of 1873, and the re-
covery brought about by the repeal shows
that the conditions are not generally ur-
healthful. Money Is sure TO be as easy as 1t
has been tight. We have been fortunate here
In Brattleboro In having a good thrifty com.
have beeh no Withdrawals from our savings
banks through fear. The rank and file OF
Republicans as well as Democrats have con.
idence In Cleveland, and recognize In him a
sturdy champion of sound money!
President B. ID. Harris Of the Brattleboro
Savings bank says, Everybody can see what
we see, an evident letting up, and II the sem
reference 10 the silver purchase law there will
probably be an abundance of money, though
do not look for any great activity of bust.
ness until the tariff question Is settled. No new
manufactures are going to 60 up or old ones
to be enlarged until uncertainty Is ended.
This can be stated as an obvious truth with.
out saying whether any proposed action Is
right or not"
Cashier W. H. Bracketr of the Peoples Ma
ti0nai bank, says. "When the senate passes
the repeating act rates for money will soon
60 to the normal, but will not get much be.
low per cent In New York and Boston until
the clearing house certificates are got out of
the way. Locally It can be said that there is'
not much money for new business or to
branch out r. cd, BIT s4e'lsAfy legitimate
needs have generally been supplied. The
WORT part OF the pinch here wss In August,
but 1t Is q striking fact tnat the people
In Brattleb0ro and vicinity never met their
paper In better shape than In the last
60 days. Actually, there were less protests In
this bank In August than In any month this
year. don't think trade on the street for
the next 60 days will be up to the average
the reduction In the pay rolls will be felt by
the merchants now. But money will be
much easier inside OF 80 days. We have now
IS good deposit account as two months ago. |
All these prophecies are based on the assumr-
lion that the senate will reDeal, an action
which the country has discounted. II It |
shouldn't should look for a rotten time.
Treasurer N. +. Cabot of the Vermont
Savings Bank, who has this week returned
rom the west finds wonderful improvement |
n the last ten days or fortnight. Mr.. Chs ndler |
It Chicago thought money would be close there |
)ut there would be enough to move the crops. |
Currency has been plenty there except for |
! few days. 1t looks better all around. |
Money Will be abundant soon. Mr.. Cabot |
expects this whether the repeal bill passes or
lot. In fact he thinks that Bill has bad little |
o do with the trouble, which he
attributes to trusts, boems and |
welling up of things. s.There Is
hardly town but has had more or less of |
boom. They are all choked dead and will |
tay dead. The money the booms have been
handling will go Into legitimate busiress. The |
loan and Trust companies and institutions
II that class are now doing simply nothing.
M. Austin, Jr., The secretary CT the Carpen-
er Organ Co., and with W. G. Carpenter,
IS active manager, says: "Our business Is
,icKing up remarkably, though l don't ex-
'ect quite an average fall trade, because the
came too late. A business like
urs strikes 1t last. Others have got TO
move first. But stocks are pretty low ABOUT
be country and there cannot help being
airly brisk demand. For this mouth our
rade is pretty near II not quite what 1t was
ear ago. We are running on full time, and
aven't In fact shortened our hours at any
ime, though we bave not kept the full force
ding. As far as the general situation is con-
erned do not expect boom. New Eng
and at least will be better OF when the tariff
uestion is settled; but this Is an influence
realty overrated. No one questions that
1hen tariff changes are made, the time for
heir going into operation will be put far |
nough ahead to enable all interests to turn
themselves; II Is always done SO. So the
reyent production long way ahead or {
which II 1t were done would be [
hly so much to coma out of the future
,mewhere. So moderate moveme Is not !
n unmixed evil. The silver question Is the
ne tnst has made the trouble, an,l II repeal !
1ouldnt pass It would be worse than II It {
ad never been tried. l had letter from {
pr largest foreign agent this week IN which Z
. says: {
= We are glad TO see that United States trade {
looking brighter since the silver qucs don !
,emed iiksy 10 be settled. We hope this will !.
ended soon because we feel 1t will have q =
lip on trade here, as the world is too closely !
now for one nation TO suffer alone. I
our geod trade will help us to good trade I
o." c
However. with both silver and tariff set \
ed, we will all be In shape to talk more un.
4
f. J. Holman. manager of the Vermont I
ban and Trust Co., finds the Future full 1
encouragement. The one great thing we 8
,ed Il q decisive vote BY the senate on the 4
peal bill. Within two weeks after that :
II becomes law. money will seek six per cent
New York snd Boston. II repeal shouldn't :
lss. the panic would return worse than ever
III be the worst ever experienced"