The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-11-07
MEETING or THE HARDWARE TRADE.
R~ursx NJ the Committee on the Proposal %
Cnanxe the Time Of Crcdits-FOur Months
Flxrd as the Limit-Lstter~ from Hardware
U~-lerx I'm the Principal Cities.

Dxslers In the Principal CITIES
We adjourned meeting OF the hardware trade was held
YESTERDAY afternoon In the Astor House There was
v,ry fair attendance Of dealers and as was known that
ahe rerort Of the committee in regard 10 proposition To
change the time Of credits would be presented, great
SesI Of interest was taken in the proceedings,
Mr. A. r wetmore presided, and Mr. John Davenport
s6cated as secretary. The minutes of the preceding
meeting approved after which the following letters
from members OF the trade in different cities with whom
che committee had corrcsponded read. Mr. Daven
port introducing them, said that they answers
the following circular, or letter.
cory OF LETTER ADDRESSED TO MEssRs CURTIS
HAND, PHILADELPHIA; GEO. II. GRAY DAN
FORTH, BOSTON; ERAsTrs CORNING CO., ALBANY;
scHAEFrER LoNEy BALTIMORE. = o,-
AT meeting of the hardware dealers of
city held the Esd oct to consider the proprey Of
bng trade and other matters Of interest committee was
appointed to confer with members Of the trade IN other
cities upon subject obtain their views and the
yrobabiy general compliance OF the dealers IN ths
Atlantic cities such movement, andto report at III
fura meeting up0 the whole subject beg leave there
fore 10 address YOU regard this and TO ask that you
vii confer With such OF the trade in your city as you may
deem desirable. either privately or by general meeting
called for purpose and 10 give me. a. rs early day
practicable the result of such ooiIesence with any
regard 10 this subject prompt compliance will be duly
appreciated On behalf Of The committee very respect
R-An adjourned meeting of the trade will he called
BY the committee think, on Thursday, 9th November.
REPLIES.
PWiApElPMA Oct. 81, 1857.
We i receipt of your favor of 3oth, and in reply
state thai have for years condne our sales strictly to
credit Of six months and willing TO make credits
shorter provided is general thing in the Atlantic cities
We however commission merchants and not jobbers
and therefore have deicacy in taking the initiative
Your best would be to address Of job
bers say Trueu Bro Co. Nurlin, Marshall Co, or
move in the matter We have for years lost sales TO
some OF our best customers, owing to our New York
friends being more liberal in time. We are now well
respectfully, CURTIS HAND
BALnxoRK, Nov. 3, 1857
We have your esteemed favor of the 30th ult requests
hng US obtain the views Of the Jobbing hardware
chants of this city reference to shortening their credit
their sales. Finding impossible TO get the trade to-
ge;her general meeting in time 10 report 10 your
ing of the 5th inst, have conferred privately with
number Of them, and feel grathed in being able say
that as far as We learn trade Baltimore will be
willing cooperate with that of New York and the other
Atlantic cities in furtherance of an object that all
feel the necessity of, and which is acknowledged TO
be q desirable Some think no feasible plan be
that we think there will be trouble in adopting
q plan that will meet the necessities Of the case,
and be Of incalculable advantage to the trade. Our
grocers sell four months credn country customers
and they consequently get better paid than other job
beers They reduced their credit from six mouths To four
mouths ie~ years ago, and hhding worked admirably
continued il at that rate Now, We no reason why
grocer who buys his goods on four and six months and
who realize for his stock in twenty -four hours
OF necessity should be able 10 sell at four months credit
while the hardware trade, selling 10 the same persons,
have TO give from six to twelve months the hardware
paying cash, its equivalent for the bulk Of their
goods oregn) with cash duties and being necessarily
required 20 keep Large stock of goods that cannot be
forced the market except at runous The
merchant comes 10 market frequently with but
a small amount Of money, and he tells he
obliged to pay his grocery bill and has but little left ~
The hardware and other trades have TO give him
enable him buy his cash articles
grocer The great detail Of the hardware business
curing heavy expenditures in conducting IL the heavy
stock with loss OF interest that obliged keep
with large outlay ~ capital required proportion
Of busiue done, should make the credits given
short than any other branch the obbng
o
the committee, 10 be made on the 18th inst, with sketch
OF the proceedings the meeting when we will take plea
sure calling the trade of city together and will lay
the before them For ourselves decidedly In
favor Of shortening 10 four months one great advantage
This would be that customer visiting the markets
twice year would always have his bill due when he
cane on whereas frequently occurs now even 10 six
months purchasers that they before their former
seasons bill Is due, buy another BILL and promise when
Ay g.t home they viii send tn, money for the old h,
which they generally forget neglect do. Hoping
the New York obbers Ia trade will be able adopt
desirable plan 70 benefit the trade generally and that the
trade OF the other Atlantic cities viii JOIN them ia such
movement, We remain, yours, very respectfully,
sCHAitfhR LoNEY.
AIBASY. Oct. 81. 1857
We receipt OF your letter Of 3on in reference to
movement beng made in New Iork for abrdge.
OF credits sales Of hardware TO the country trade
We have conferred TIA oi the dealers here and
that aprncpie 4 pretty generally approved ot The
question 70 he settled Is, how and when be inaugu
rated i aunot be done by the action OF two towns
cis TIE movement must he general ami sogeneral as
20 nc'ud. Weerr cities competing with II the sale OF
won and MISUNDERSTANDING and Cincinnati for example
without such concert nothing permanently good ana sas
tary result from the movement and herein
pate, hes the chief difficulty All In the trade freely ad-
init the evils az the present extended credits, and
rcem eager 10 bring about a reform But whether we
shorter crcdts-in the heat OF ccmpetton-wl be the
rub, We fancy still the object one OF sufficient conse
aUence to deserve a effort and YOU will find the trade
here We think willing to cooperate with their brethren
VI other 20 bring about reasonable aud wholesome
reform in the matter We observe thai the New York
German hardware houses have taken the initiative In this
matter, and We glad 20 IL, for think II should
begin with foreign houses and their agents and thus the
~l hg h.1 " mpzt
making shorter terms with parties 70 whom they sell II
the eject Of past Affections be TO diminish the facilities
ww good for us 70 be afflicted Very truly, yours,
ERAsTUs CoRSISG l. co.
Boeros Nov 4. 1857.
In response 10 your favor a the a0h October addres
sed Messrs. 6 III Gray panforth. meeting Of the
hardware, iron steel aud agricultural tool dealers
hed m THIS city, at "a. rooms OF The Board Of Trade
yesterday afternoon The subject 'of essenng the pre-
sent terms o. credit being presented for consideration
Tree interchange q opinion was elected upon that and
other kindred topics from gentlemen representing all the
above branches u trade, There was a general
currcnce opinion only that the existing terms OF
credit should be shortened but also that the obbng trade
should nslt upon more puncua settlement at the
tury Of open book accounts II further suggested,
worthy 81 inquiry, whether cash terms should he
hereafter held strictly 70 mean immediate payment, in
On motion il was unanimously voted sthat IS orpedl.
ent 10 shorten the terms 81 credit present gwen
by the various branches Il trade represented this
meeting
A committee Wa appointed q two from each q said
branches Of trade 70 consider the whole subject, re-
port plan for acton at future meeting
Tie Chairman and Secretary instructed inform
the Chairman q the meeting Of hardware dealers New
York Of the above and also 10 that
che request that the concurrent action with them Of the
other branches Of trade above mentioned may be %.
tanned Yours, most respectfully,
4 HoSsHR, Chairman
y " SsrrB Secretary.
B-Tbe committee will hold the first meeting 10
afternoon, with reference 30 early action
possible II will aid their deliberations you will send,
your earliest convenience the details 81 the al
ready taken in New York, also Of the proceedings
the 5th inst and subsequently,
BsrroN Oct 81, 1857.
Yours ~ 30ih inst hand this day. For ourselves.
business being mostly exporting We have only small
indirect interest the time given al home. We have,
during thirty years business objected ~ longer credits
han ~ months and very rarely exceeded ths-never,
We believe. for number u years past. indeed, have
been 20 hrm ~ this that have Lost many large sales
good parties Who wanted a lager time We believe six