New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-10-27

A TRTRUNF reporter visited on SaJHuaJ
several leading houses the retail dry goods and any
goods trade for the purpose ~ learning tue
financial depression upon their business. with te ior
lowing results ,.co
A, tho retail establishment Of A. T. Stewart Y w.
Broadway and Tenth-st.. the monetary str'ngono,
seeued Co have little tendency 10 diminish tho no'i"e
throng of shoppers IN the various departments. i"
porter was fold by one in tho eonhdenoo OF tno L."
that their business was somewhat depressed Ike ever,
other department Of industry In view OF the i"c' ~
the manufacturers OF domestic fabrics had been nn
roduoton. in prices from day 10 day during tue past
week or two they had been able to offer their socAS u
These goods at cOrrespondingy reduced rates " va
thought It would be two or three weeks Oei"o ."
market would become settled ssain -,
Mr. Stewart while In Europe. was said to have Donhu'
large ouantes of goods at low rates for cash. ana o'o
hove hoan arriving 10 weekly nstallmenis ever Shc'
aud o,e now offered at rates suited 10 the stihgch'
times silks which sold only lew mouths ago u. " %
are now nut upon tho market at IS cents Iheso WI"
cpened 10 the public to-day. Tho house tofesa" 'no
presson in trade and proceeded to put their socA :"
condition TO suit the times All goods are ohereu q"
lower rates than before tho financial trouble pesa"
People seem to purchase freely ~ ever except VI wv
richer class OF goods. -,
At Lord & Taylor's MI Warren. the superintendent
saws they are doing larger business tuh ever
although the profits not 90 great, since III 'u"Pe
themselves to the times they arc compelled 70 uiaho
lin radu
condition of affairs they have resored 10 tue "uc''
, II il said TO De natural that IN times Ike lhoso'
n ,yhetbcr rich or In moderate circumstances. natu'
rail- wish their families retrenGh aud that TINS io
lrenebment must Of necessity aheet tue re''l ','1
They have been unusually fortunate IN making o"'0
lions Tho trade OF last week was larger thah tpH' "
rho period last year. They prepared ''
the STORM and did crowd their shelves WIN soO
~ tir ADVANTAGE OF the business depression abroad
,e, arc now ablo to give the home market the Deiiel u
lower rates They have reduced prices III over! uep-'
meut Of The house. They viii DO more suaFuo" '"""
heretofore about opening accounts VINO III 'r' PV'
perous times they dd not consider out OF 'ho ""y
Give six months credit, the present terms Oh Nc"
ccouut range from TO 90 days For the present oS
,rnoso keepinp near tho sbore They feel that II is h
sle IN ten the tcue financial state OF business men,
Irstead ~ distressing their customers however II -
their purpose 70 favor them as iar as posSe D'o'H
that the present dark times will prove ony temporary
A. lame. McCreery a co.'s tho ira ie ID said 10 De e's
,, W., oN,eefed as the Fall opened 40 auspl-
ciou,ly the panic had held sway III Wast - week DC
fore they could any difference IN their retail oep
ment When the banks ceased to pay ont currency te)
foI difference in their business hut tho falling on vas
more in their cash sales than IN those 10 families WIN
whom they had been keeping open accounts just III
proporti0n a. currency becomes more penttl are Sos
resuming activity. Tic volume Of business III 'ho
retail trade generally Is uOf quito 50 largo
"a that Of former years. blt - oH'taV "'iA0N
by extra caution the part OF ana Is therefore
healthier The prices OF descriptions Of goods are
unremuncratye. but the decline ~ yalues as general
thing has not greater tnGn in other descriptions OF
property. While there Is rather more diihcnHy thdh
formerly in making collections, they do not thiDh thrre
is larger percentage than usual OF debts Gely 20 prove
WORTHLESS.
Arnold Constable say that they can discover
perceptible decline IN business. There seems 70 boa
disposition on the part of generally 70 demand that
their wives shall practice economy there IS not so much
extrayaganco rs formerly. There IL general
reduction in prices. Dress goods that sold
az 81 yard before the financial do
preston are now offered at G5 cents. They say that
there are but few inspirations at present ami taatovory
merchant having stock Of Winter goods VIII DO likely
10 close It out on the terms possible The majority
OF the trade are unable TO two stocks. and must
work or their Winter goods before TIE ARRIVAL Of Spring
Then il was thought business viii Dc likely 30 resume
its wonted channels.
AIR II. Macy d Co n the presence " q large 'hrong
Of purchasers was Indication Of anything but nnn
cal depression. Posters in the windows and through
out the store announced that goods being sold at
a discount OF 10 per cent, which the nrm regard as
specie basis-t0 which they think all trade should bo
brOugl speedily possible. On most OF their goods
imported during the summer and early Fan, The duties
were paid with gold az 70. Now that gold IA down to
g. they are disposed 30 Tx their goods at the
actual market value specie basis. The sys
tenn works well; custOmers appreciate The extra induce
ments offered and show disposition 20 purchase as
freely as ever There IS pcrccptbe difference I'm the
trade any department except IN the sale of the coser
Injuries The firm have not account on their books
and consequently know nothing u the annoyance Of
making collections. They have imported large stock
OF dolls toys aud other fancy goods samples OF which
will this morning be opened IN one Of The rooms upstairs
set apart for the purpose, and on these special induce
ments beyond the 10 per cent viii be offered to those
who purchase to sell again. Mr. Macy thinks that there
will be no regularity in trade until after Jan. I.
b. Altman & Co. report that they doing as large
business as ever. though tho profits not good
They say that all merchandise moro OF less affected 10y
the monetary stringency. People who used 20 bay
freely and pay Ugh prices, show disposition to
hesitate, do without luxurcs altogether. Merchants
are therefore compelled resort 70 expedents 70 force
a trade. Collections difficult. Frequently
when an application made TO OF large wealth for
the amount Of bill, which would formerly have met
with the ready cash. request would be returned for
few days time as there 10 oose funds at hand An
collections are more or less dicu and the complaint
is universal that money Is tight. The firm do not give
extended credit, hut aim 70 do prompt, cash trade
They report no falling OFF In ono class OF goods more
than another except in the coster articles Customers
generally manifest caution than formerly In the
purchase OF expensive articles md are generally dis
posed TO make goods VI a lower price than formerly
answer their purpose In consequence OF the ghtness
the money market, the dr1n get reduction their
purchases, aud thus enabled 70 make correspond
ing reduction 10 their customers. Goods have been
marked down in every department, In each OF which
special nducement il offered to attract attention.
While the reporter prosecuting hislnquiries, %
leading retailer and importer told him that the
chants Of New.York suffering from the rapid
increase OF smuggling than from the financial crisis
and all other causes combined vessel recently ar
rived from French port having 100 passengers whose
aggregate amount OF baggage tons on which