New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-12-22
LOCAL MISCELLANY.
TRADE AND RENTS.
THE DRY GOODS BUSINEss-DRCLINE IN pRtcps
TIP UPTOWN MOVEMENT

l.
The Dry Goods Trade of this citv baa 70
suited unfavorably this Fall than wa. 0cneraIx
anticipated Early In the season the market as mora
actye than for some years past and everything iudi
Gated very heavy business The september trade n,t
fled this anticipation, great number " buyer, from
the West and South then In town whose aggregate
purchases were, probably in tKcess ~ the september
purchases Of any year since the close ~ the Rebeo,
The European war showed no signs ~ ending and the
supply Of German and French goods in the market oL,
not be replaced to the extent q, usual the f,cor
OF both countries having been generally closed .c,r
city Of imported goOdsi and higher prices were there
FORE looked for-and many articles II was .,,ppo.ed
could not be obtained, at ALL Later IN the season The
crops had proved very abundant throughout the weter,
and Southern States and good trade il always looked
for when such T. the case.
After September, however the trade ZEN ,r a., -.,r
ers did not find the market they expected The Fail ba
been an unusually warm one, and the public have NOT
felt The need Of Winter dry goods the extent usual Al
this season. The South, too has been d.arDo,pted i'm
the price received for It's staple. which has very
declined since the crop was gathered This decline in
raw cotton has produced corresponding decline in the
goods Manufactured from IT, which has an nurions
effect on trade. People always ready 10 bny when
goods are advancing, and there Is fair probability OF
receiving pront but naturally enough when goods are
declining think they will decline still more and I'm
waDg IOr he lowest prices the passes and its
trade Is found unsatisfactory
good many changes are anticipated among dry goods
y
nent merchants will retire, number of new iOse,
viii be formed A difference is also di,ocrnlbIc in the
plans of doing business IN future The rxtroyaD,n,e
engendered among business men during the RobeIl'on
has been gradually diminishing each year since il, close
Decreased profits, depreciation Of stock and losses nv
bad debts have year by year, admOnshed business men
to curtai their expenditure large item in the expcn
~ dry goods business is the rent During the
civil war, many firms were led 10 expand their business
TO the full extent NJ their financial abilities aud often
beyond the bounds Of prudence. In doing this, largo
stores, in highpriccd, prominent locations,
sary. But when goods deprecated these stores were
ton nd cent maid
Factories formerly day and night TO sup
ply the demand for their products, and the Jobber
compelled order far in adN ance of hs want-. and
quantities much larger than his present requirements
order 10 get the desirable part OF his stock at all Now
merchant has no difficulty In supply ing his wants they
arise and though the factories not full time
they meet all demands for their good. II Is therefore
entirely unnecessary for Dbbcrs To carry heavy stock
and, with light stock smaller store can be occupied
The idea that broadway store is 50 much more de-
sirabe for wholesale trade than store well located on
side street il entirely exploded The experience Of those
who have occupied them, thinking that the latch;
trade" If Broadway would compensate for the additional
rent has proved that the idea was faacous, and shown
many well-ocated blocks between Broadway and
Church-st. rs on Broadway Itself
Last year most ~ the firms whose leases had expired de
ayed signing until very late in the season. and
greater pressure was brought bear on landlords man
the best terms and many who had hastily made their
arrangements had reason Tor regret IhS Year thre arc
proportion OF these on Broadway, where, in most
cases. stores have been rented az euHeuOh on a s
season commanded, however very fair prices. large
store 20 ny l75 feet Broadway well located for the
dry goods trade was rented for $4,000 per annum.
Another 80 by 200 equally wen located, bu lurlner up
town was rented at about $4,000 store OF extra size.
which i bruw rhe OF the dry goods business az
present located. leased few years ago. Tor sl6o
per annnm FOR I'VE years Inc oc'upt pa r b
tenants decline 10 pay more IMAM SOO,
and though Dill mas peen on the premises ,or 'o-
at higher The tenant OF an ADJOINING store sun
pays $4,000 under long lease not yet expired sore
al Tod four < her
Is now held at $4,000, but does not ind a tenant.
though it has been in the market for month. Other
stores similar in size and location, held at cor
responding prices. In general landlords OF broadway
property satisfied to accept the lowest prices OF last
demand further reduction The best cross streets Tor
the job6ng dry GoIas tbe nater 81 The two Wbsut
is more and given up to the commission business,
and after the first OF the year Comparatey rev oGn
exclusively used for the Obbng business, except III lew
instances west Of Churchst. m -
and as the jObbine trade moves IN that th9G
direction the commission rom. w R9gse' S AMY
Frankn-ss. all Of which, only year or two ago, were
abandoned to the commission business. A large store
was erected on Cana-st, nearly two years ago, for
IL was however of unusual size, ami had the advantages
OF fronting, by Of ell, two streets IL has.
however never been occupied, and has recently been
leased for $1,000 per snnim. good store good
cross-street between Broadway and Church-st be
rented at 5000 TO 5000 per annum or, II OF double
feature the is the removal of the boot and
shoe business, in measure to the neighbOrhoOd or
Grand-st east OF Broadway The streets running par
lei with Broadway west of that thoroughfae and above
Canal-st are being occupied by the importing trade.
and are becoming the fayOre location for importers
and commission dealers.
The jObbng business already extends far mp Broadway.
and rapidly getting in the neighborhOOd OF the Metro
poan and St Nicholas Hotels even extending ss far
a. the Grand Central In fact one jobbng concern Is
about from Whlte-st. To the neighborhOOd or
Amity-st II is probable that in very few years the
tire Wholesale dry goods business Will be conducted in
stores located above Canas and that the streets now
looked on as desirable. below Canast will suffer tho
fate that has Overtaken Warren Chambers, Reade and
other similar Streets that occupied by mixture or
all classes OF trade such locations never command
good price. "
As further illustration OF the remarkable decrease in
rents worthy of that since the above was writ
ten shOe-dealer has taken. for $3.50 year Broadway
store, Pears for which the man who rents pays
tl4 900 wear on long lease. The dealer Of
fered other stores Broadway in the same vicinity
for $1,000 less than the present essecs are obliged To pay
for them.