. The new New York : a commentary on the place and the people . ay areregions dedicated to shoes and leather, or groceries, orartificial flowers, or feathers and milliners spots, that sometimes cover many blocks, are,of course, broken here and there by interlopers in otherbusinesses; and there are literally thousands of firmsin lower New York that belong to no group and arenot affiliated with any of the exchanges. There is hardlyan important manufacturing concern in the UnitedStates that has not some sort of headquarters in NewYork below the City Hall, and hardly a great shippin
. The new New York : a commentary on the place and the people . ay areregions dedicated to shoes and leather, or groceries, orartificial flowers, or feathers and milliners spots, that sometimes cover many blocks, are,of course, broken here and there by interlopers in otherbusinesses; and there are literally thousands of firmsin lower New York that belong to no group and arenot affiliated with any of the exchanges. There is hardlyan important manufacturing concern in the UnitedStates that has not some sort of headquarters in NewYork below the City Hall, and hardly a great shippingor commission firm in any of the large towns that has notan office in the lower city. The great majority of these offices are merely brokerageplaces where transactions are financed or arranged for,but not where the commodities themselves are actuallydelivered. The buying or selling is for the account,and may result in a delivery at some future time in someother place; or it may be that no delivery at all iseffected — the settlement being made by paying the. Pl. is. — City Investment and Singer Buildings DOWN TOWN 87 balance, be it profit or loss. The sales, however, whereactual delivery at some time and place is made, as instocks, bonds, steel, sugar, cotton, wheat, oil, dry-goods,leather, are very heavy. If the estimate of them weregiven in dollars, it would have to be in billions, for millionswould be inadequate to express it. What actual delivery means in produce and manu-factures, aside from delivery for domestic uses, is sug-gested by the volume of New Yorks foreign trade. Itis five or six times as large as that of any other Ameri-can city, and amounts to nearly one-half of the wholeforeign trade of the United States. Each year overthree thousand steamers and a thousand or more sailingvessels come up the bay from foreign ports. They bringthe bulk of the things imported into the country,whether raw materials or finished products. Cotton,linen, wool, silk, furs worked u
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