Green-Mountain freeman. [volume] (Montpelier, Vt.) 1844-1884, 1864-10-04
Decline in Prices.

Decline in Prices.
The New York Evening Post of Tuesday Of
last week, in an article on the Dry Goods Trade,
says:
"The fall in the premi I'm on gold is having its
Legitimate effect on the prices Of all descriptions
Of foreign dry goods and the disposition to sell
/, the feature OF the general market.
The auctionesr, are just now doing business
greater than has recently been known, il their
announcements are to be considered as evidence ;
but the truth is that while the holders Of the good,
ara an1iou. to sell, and are endeavorng to realize
by taking the highu, bids in the open market
their offerings are not disposed Of in great guam
titie,; majority Of the trade, 1t appears, be-
lie,ng that by waiting they will be able to make
still better bargains.
During the latter part of last week compara-
lively few goods changed hand, in this cisyi on
Saturday there was scarcely any lradej on Monday
the market was little better; and to day the auc-
tioneers are monopoliring all the business.
A. two or three Of the several auctions 10 the
various departments OF the dry goods trade to-
day, the attendance Of buyers and spectators is
large at others there are only few persons
but it is observed that the bidding is nowhere
spirited though some goods are freely take at
reduced rates-in few cases thirty-three TO forty
per cent. less than the regular prices Of three
weeks ago.
1t is also noticeable fact that the suclioneers,
almost without exception, are extensively pas"
ing" goods in their cataogues-ln some cases
amounting to a large proportion OF the entire OF
f.rings This indicates not only that the prices
obtained are not equal to what had been expected
but that the owners o! the goods are not yet
ready TO conceds reduction ranging all the way
from twenty TO fifty per cent
The largest mercantile firms in the city are
" marking down their goods process which
has been going forward for the past week or ten
days. Some Of the men Of best judgment in this
trade iore,aw what was to take place, aud made
their arrangements for the permanent change OF
rates they believe the present to be.
The reductions vary materially On some goods
they do not exceed ten to fifteen per cent? on
Others hrty or more, while the average i, between
twenty aud twenty-five per cent shestings have
fallen about fifteen cents yard, aud prints which
were worth nearly half dollir yard, ten cents
Woosn cloths are cheaper as much m three
dollars yard un the best imported beaver over
coating-whch now costs ten to twelve dollars
yard. Other imported cloths havs been reduced
in the same rato-on new goods IN sx'ct proper
ton to the fall in the price OF gold
The reduction in the rates for domestic goods
is not so large. These goods did not rise as much
az fabrics of foreign manufacture, aud though their
nominal value las been snhanced 10 some cases
hundred per cent. the quality of the goods has
improved, owing to the protection our manuiec-
turen have received from the high rates OF eI-
change and the customs duties.
! The stock of goods in market is not so large
as would naturally be supposed from the figures
given from week TO week Of the value Of import
slion,. L,ree quantities of the goods rsman IN
| bond; others are reshpped at loss to the i'm
porter; and the quantity on sale is about equal
| 10 the average at this season before the war.
While values may fall still lower, well informed
merchants believe that such state Of things
would be attended with an early reaction. The
reduction in the prices Of foreign good, will, It Is
quite probable, continue.
|. i. evident that the "p,nic " 10 the trade is
leuening merchants are preparing for the de-
crease n rates which has already taken place, and
msy yet come
Ii appears likely that the chief sufferers will no,
be the regular dealers, but men who have invest
ed means for the purposes OF speculation,
The goods now offered for sale by many OF our
standard houses were bought at rates not equal TO
the highest which have ruledi and the losses 10
the trade will therefore be le,s than the extent OF
the reduction in the price Of gold.
The asking rates OF many dealers have not been
materially changed but they must very soon con-
form to the new rates, or cease to do business
The decline in prices Was as sudden in Pha'
delphia. The Inquirer Of that city says:
"a, the auction sale Of one Of our leading dry
goods houses, shawl', pieces Of silks, and other
imported goods, sold At the same price as when
gold was at PER, which is a decline Of over one
half OF course the great decline In gold was
the subject Of general and anxious conversation
One prominent merchant stated that, owing to
the large stock on hand, his 10. would be over
hfy thousand dollars. Another declared that he
had promptly marked bis stock down to the pres
eni market rates lie saw that although a large
loss some thirty thousand dollars, was inevitable
he would, nevertheless, save many thousands by
anticipating ard avoiding iurlher decline by
rapid sses