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Condition Of The Dry Goods Interest

Condition Of The Dry Goods Interest image
Parent Issue
Public Domain
OCR Text

A trustvvorthy commercial agency in this city has on its books tho namea of six hundrod and sixty New York firma engaged as importars, domestic oom mission merchanls, and jobbers in tho dry goo-s tradc, including mili: nery, furmishjotf goodf, cárpete, and clothing. Of theso only ninety-eight have failed within the last six months, or fifteen per cent. of tho hole. Tho Southern swindlo has fallen heaviest 0.1 the jobbers, because they have cultivated Southern trade most assiduously. Of sixty-nino general jobbers, twentytwo have failed, or tbirty-two per cent.; oi fourteen woolen houses, four have failed, or thiry percent.; whilooi twenty-silk houses, eight h:ivo failed, also 30 percent., the average of thu 110 be. ng 31 per tent. This includes all who have assigned, cumpromised, or obtained extensión. Among the fallares were some having very largo liabilities, with an equalproportion of small houses of limited credit, whose debts were light. Tho probability is that 25 per cent. would cover the proportion of indoljtedness ialed upon ia the jobbiüg business during the last six months ; while, assuming 50 per cent, to be realized from this indebtedness, tne result wuld sliow a net loss of only 12 per cent. on the debts due from the jobbing interest einco tho new year, This is rnuch lees than common rumor had assigued it. in mr ni


Old News
Michigan Argus