Thank you for visiting SNEWPapers!
Sign up free
Story
July 22, 1867
The Evansville Journal
Evansville, Vanderburgh County, Indiana
What is this article about?
Report from New York Journal of Commerce on recent dry goods business suspensions due to losses on imported goods, naming specific firms, while assuring solvency of leading houses and no cause for panic.
Clipping
OCR Quality
98%
Excellent
Full Text
The New York Dry Goods Failures.
[From the New York Journal of Commerce.]
Within the last few days several suspensions have taken place, mostly from losses in the sale of imported dry goods, and these have been used as a text to throw discredit upon a large interest, and to create almost a panic among those who have much at stake in that connection. There is no occasion whatever for such an alarm. The leading dry goods firms in New York are not only solvent, but stand as strong to-day as at any portion of our history. It would be far better, we think, to publish at once the names of those houses, which are reported as under suspension, than to speak of them in such general terms as to exaggerate their number and importance. Acting upon this theory we may mention Messrs. Geo. A. Wicks & Co., dry goods jobbers, and Messrs. Fairchild & Fanshawe, and Loeschigk, Willard & Rhode, dry goods importers.
The chief loss in all the cases has come, we suppose, from the depreciation in the value of dry goods, and their consequent sale at a heavy loss.
[From the New York Journal of Commerce.]
Within the last few days several suspensions have taken place, mostly from losses in the sale of imported dry goods, and these have been used as a text to throw discredit upon a large interest, and to create almost a panic among those who have much at stake in that connection. There is no occasion whatever for such an alarm. The leading dry goods firms in New York are not only solvent, but stand as strong to-day as at any portion of our history. It would be far better, we think, to publish at once the names of those houses, which are reported as under suspension, than to speak of them in such general terms as to exaggerate their number and importance. Acting upon this theory we may mention Messrs. Geo. A. Wicks & Co., dry goods jobbers, and Messrs. Fairchild & Fanshawe, and Loeschigk, Willard & Rhode, dry goods importers.
The chief loss in all the cases has come, we suppose, from the depreciation in the value of dry goods, and their consequent sale at a heavy loss.
What sub-type of article is it?
Business Report
Economic Event
What themes does it cover?
Misfortune
Fortune Reversal
What keywords are associated?
Dry Goods Failures
New York Commerce
Business Suspensions
Imported Goods Losses
Market Depreciation
What entities or persons were involved?
Geo. A. Wicks & Co.
Fairchild & Fanshawe
Loeschigk, Willard & Rhode
Where did it happen?
New York
Story Details
Key Persons
Geo. A. Wicks & Co.
Fairchild & Fanshawe
Loeschigk, Willard & Rhode
Location
New York
Event Date
Within The Last Few Days
Story Details
Several dry goods firms suspended due to losses from selling imported goods at depreciated values, creating unfounded panic; leading firms remain solvent. Named suspended houses: Geo. A. Wicks & Co. (jobbers), Fairchild & Fanshawe, and Loeschigk, Willard & Rhode (importers).