American citizen. [volume] (Butler, Butler County, Pa.) 1863-1872, 1864-10-05
From the zoe York post Mondav, sept.
Trade and Prices.

general market
The auctoneers are just now doing q
business greater than has been recently
known, if their announcements are to be
considered as evidence but the truth is
that while the holders of the goods arc
anxious to sell, and are endeavoring to
realize by taking the highest bids in the
open market, their offerings are not dis
posed of in great quantities; majority
of the trade, it appears, believing that by
waiting they will be able to make still bet
ter bargains .f-f a.f.E.9
| During the latter part of last week
comparatively few goods changed hands
in this city; on Saturday therewas scarce
ly any trade, on Monday the market was
little better; and to-day the auctioncers
are monopolizing about all the business.
At two or three of the several auctions
in the various departments Of the dry
goods trade to-day, the attendance Of buy
ers and spectators is large at others
there are only few personsj but it sob
served that the bidding is nowhere spir-
tied though some goods are freely taken
at reduced rates-in few cases thirty
three to 40 per cent less than the regu-
lar prices of threee weeks ago.
1t is also noticeable fact that the auc-
tioneers almostwithout exception, are ex-
tensively passing" goods in their cata-
| logues-in some cases amounting to a
large portion of the entire offerings. This
indicates not only that the prices obtain
ed are not equal to what had been expec-
ted, but that the owners of the goods are
not yet ready to concede areduction rang
ing all the way from twenty to fifty per
cent.
The largest mercantile firms in the city
are " marking down" their goods-a pro-
cess which has been going forward for
the past week or ten days Some of the
men of best Judgment in this trade fore
saw what was to take place, and 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 ff-
teen per cent; on others thirty or more,
while the average is between twenty and
twenty-five per cent. Sheetings have fall
len about fifteen cents yard, and prints
which wersEorth nearly half a dollar a
yard, ten cents.
Woolen cloths are chcaper-as much
as three dollars q yard on the best impor-
ted beaver oyercoat-which now costs ten
to twelve dollars yard. Other imported
cloths have been reduced in the same ra-
tio-on new goods in exact proportion to
the fall in the prices Of gold
| The reduction in the rates for domes-
tic goods is not so large. These goods did
not rise as much as fabrics of foreign man
utacture, and through their nominalyalue
has been enhanced in some cases a hun
dred per cent. The quality of the goods
has improved, owing to theprotection our
manufacturers have received from the
high rates of exchange and the customs
duties.
The stock of goods in market is not SO
large as would naturally besupposed from
| the figures given from week to week of
the value of importations. Large quanti-
ties of the goods remain in bend; others
are reshipped at a loss to the importer,
and the quantity on sale is about equal to
the average at this season before the war.
While values may fall still lower, wellin-
formed merchants believe that such a
state of things would be attended with
an early reaction. The reduction in the
prices of foreign goods will, it is quite
probable, continue.
1t is evident that the "panic" in the
trade is lessening; merchants are prepar-
ing for the decrease in rates which has
already taken place, and may yet
come. asa r.
1t appears likely that the chief suffer
ers will not be the regular dealers, but
men who have invested means for the
purpose of speculation,
The goods now offered for sale by many
Of our standard houses were bought at
rates not equal to the hig ghestwhi have
ruled and the losses in the trade will
therefore be less than the extent Of the
reduction in the price of gold. bf,
| The asking rates Of many dealers have