Year: 1873

pected, however, that trade would be dull
all the Winter. Prices are lower since
the panic took place, and would keep
down; month or 80 might make an i'm
provement: The quantity OF stock In the
factories was not heavy, nor near so great
as last year. Business with the manuiac.
turers was dull the whole season through
and, in fact, very little material was man
ufactured-not near as much as usual"


In the "Wool Market" dealers are very
chary Of making sales except for cash In
which case q slight discount on prices Is
allowed, which are about the same as be-
fore the panic. "There appears to be q
very generally hopeful feeling in this
market, and as stocks are light iurther
advance in prices is expected to occur on
those already made before the 1st Of sep
tember, which were from five to ten per
cent. Stocks are lighter than usual, and
there is but little foreign wool expected
to arrive, which tends TO confirm tne
opinion that higher rates will be the RUE
as soon as trade once more settles IN the
uEuluaIJ StOo'So'


Concerning the "Cotton Market" busi-
ness is reported to be increasing on real
sales, land while there is more cotton ar
irving in New York, Savannah, and
Charleston than freight can be engaged
for, yet holders endeavor to meet the
market and make free sales, although at
prices ten per cent below those existing
before the panic. This reduction is, in
some measure, due 10 the difficulty ex-
perienced Of engaging freight, even at the
rates now in force, and which are consid-
cred exceptionally high. For cotton to
arrive In the months near at hand prices
remain about the same, but for those far
of higher prices are asked and paid. In
comparison with the values obtained in
October, 1859, the prices are ten per cent
lower. Stocks on hand at present are
very light.


In regard 10 the Iron Trade ""the
business manager Of an extensive iron
factory in Beekman street, in speaking Of
his business yesterday, said that he ap-
pretended dull season for some time to
come, but with the restoration Of conf
dence the commencement OF the next year
would be characterized by great activity,
and he believed business would be ex-
ceedingly brisk. Many firms in his trade
were compelled to reduce their force un-
der the very extraordinary pressures
which were brought upon them as a result
OF the panic, and the continuance Of these
causes would undoubtedly involve similar
action by many others. Money did not
flow In as rapidly as was desired, and
there were more requests for extension of
time than there we're payments.


Lastly, in regard to the Sewing Ma
chine Business" we have the following
report:


"The panic had certainly hurt the
trade: 1t was almost impossible to make
and sales were decreasing
daily. Prices remained very much the
same, but 1t was necessary to pay agents
a largely increased commission on the
transactions which they effected. While,
however, business had been more or less
unfayorably affected by the money crisis,
the main cause OF the stagnation, which
undoubtedly existed, was the insane way
in which the country had been flooded
with machines. Every man or woman
who could find no other employment
took an agency for q sewing machine
company. For two years such people
had oyerrun every village and town In
the land; families had been actually
forced to buy machines that they did not
want. Goods had been sold on the in
stallfnent plan, making 1t only necessary
to pay S. to secure the use OF q machine
for an indefinite period. Some companies
had even gone so far as to give machines
on trial without any payment. To supply
this false demand, the companies had
largely, and now that bad
times had come, and money was scarce,
they found themselves with an immense
stock Of wood and iron on hand, but with
no money to pay their workmen. Sales
for this year, taking it as whole, would
undoubtedly be one-hali less than they
were last year, and from present indica.
tions the trade in 1874 would be even
worse than this year" '9