New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-15

| il isn't going to be much of shower"
| The feeling of gloom which pervaded trade
| circles three weeks ago has nearly disaP-
peared The dry goods trade is rapidly recOyerngj
and enormous sales are going on in the great houses
| of A. T. Stewart & Co., II. b. Claiiin & Co.. Peake,
Opdycke g. Co.. Lord & Taylor, and other we'll
known firms. In furniture there is less doing. The
cool weather has frightened up the furnishing goods
| trade; and dealers in fancy goods, jewelry, and
silver ware anticipate fair holiday business
THE DRY GOODS STORES CROWDED.
| sALUTARY EFFECT OF THE FALL IN PRIcfs-TIlE
| CASH AND CREDIT SYSTEMS COMPARED.
| The moving throngs Of shoppers visible
crday In the various dry goods stores certainty
not indications OF stringency in the money market
Goods have at last been marked low that people seem
to consider policy to make their necessary pur
chases now rather than the risk Of an advance by
| longer delay. Almost every firm visited oY TRIBUNE
reporters Offering some speciality as An ndnceueh
for people buy Some had gone through their Shelves
where goods had been accommodating for the last 10 years.
and tubed the contents upon the counter for less than
one half the original cost Altogether, merchants ap
peared more hopeful than they did week or two ago.
| Ala T. Stewart & Co.'s. the stock Of goods was re-
ported Iowa point arrived Mt by the managers for the
purpose of being ready to take advantage OF the market
In making their purchases from day to day. They
/
| which having rapid sale They report that
trade was never promising at present-the crops
OF wheat corn, and rico being abundant and only con-
ndence being lacking to have the mercantile business
resume its wonted activity They would willingly sell
every dollars worth of goods in their store to people
who are already indebted 10 them. The merchants or
the country they say, will all be able to pay their bills
but they are worth much less to-day than before the
financial trouble began consequence OF being com
PEELED 70 share the depression in trade caused by the
movements OF bankrupts. In answer to an inquiry as
to whether values had sunk as far as they could, tho
reply was I'VE tell better in week from to-day
Too many merchants in their craze to sell goods, are
doing an lleg1timate business, and people who have
started on capital OF $4,000 with the intention OF doing
careful honest trade, must stand and suffer IN conse
quence" In legitimate trade they think there were no
more failures this year than last. They regard the
whole secret of the decline prices lying IN the neces
sites Of the holders OF goods; those In the hands Oh
needy persons the only ones which are sold at
sacrifice; but, as soon as their lines closed out,
the tendency will naturally DO upward again
They report collections being gOod-up to the
full standard In their retail trade, A T. Stewart Co.
arc marking down all their goods 10 meet the comDeti-
ton Of the market. Some lines are lower than they
were week two agO, but these same goods are aOe
to como the market again next week at advanced
rates. They regard the cash system as the only cure for
the present domoraized condition Of the mercantile
trade and argue that young merchant may start with
a capital Of 5000. and selling little lower than his
neghbor, who does credit business. be able TO turn
the same stock over three umes-with as many
protts-whe tho other turns his only once and better
than all he suffers no depreciation In his steadily grow
Ing wealth from the accumulation Of worthless debts
II. B. Claim Co. report the market as having a
downward tendency, but they meet this BY
selling for 30 days for cash. at prices which Will
compel the movement OF their goods. Here
ofore their has been done 90 days and months
| time Trade last week about the same as on the
before. with only little. II any, variation in prices
They report the house being out Of its temporary
! embarrassment ami regard the outlook as decidedly
| hopeful.
The openug sale OF Tuesday largely exceeded their
most sauguine expectations, Their salesmen were
hardly abe attend to the demands of the many Gus
toners. The crowd OF Duyers continued throughout
the day. and suC seemed the excitement around the
building that large crowd OF others soon gathered
and became interested spectators as well as nuisance
10 those who mad business. The sales OF the day
amounted TO over N,OCOGo, and the prices realized
were better than the firm had reason to expect; in
fact they were only from 10 to Is per cent less than
the ordinary prices The purchasers were largely COM
posed OF the rcta dealers Of the city and vicinity
although large orders received from various parts
OF the country Snch have been the extent Of the sales
during the past four days that the clerks have found 1t
an utter mpOsblity TO make the entries as purchases
were made Though working day and night In entering
these charges they are st over day behind In the
work. As a consequence, no total figures could be
gained is understood that they have been nearly the
same as upon the FIRST day four such days In success
SION they have never before experienced. When
visited yesterday along both sides of the store,
ranged pile upon Je Of every variety Of goods already
purchased and IN packing large force OF men
were asly engaged arranging for delivery as large
iot already ia their hands. IL was most encouraging
5ght A member the hrm stated that the cold snap
of me past day Two had seemed TO revive very
wholesome retail trade and there Was constantly IN
creasing hrons or retain purchasers ID ho@'ef "intof
goods. ..
Peake Opdvcke. 4 Co., al Broadway aud H0wardst.,
repor trade as rs per better than week ago. but
Onequarter less than 10 was year ago at thlS ume'
Last year. however the best Tor their business ever
known and they hardly expected an uninterrupted con-
tinuance the same prosperity. Collections are mostly
in the country, and reported as satisfactory They
r,csc 10 sell goods next thirty days for prompt
nav at such low rates viii be likely TO bring them
lively trade They working the theory that there
is money the country and that t can % brought OUT
q sIlc,ant induce uents are offered. They believe
that The long credit system is injurious TO AL oou
cerned - ho tendency OF those who follow it
D.iug To consume more goods than they
can afford aud tbat AL engaged in it Larger stocks
th.n are actually reQuhod They will hereafter pursue
ina short tfme policy. They say the panic is not
se we're the Wes that buyers from that section have
een here for tho second third time this FALL and
report their business brisk They believe that mer
chants VINO srseuergec and active wil nd their stores
well filed with customers. The depression, they say, is
felt infancy goods than as 20 articles ~ more
general demand They think that trade VIII return to
III normal condition by Spring. and believe that from
survey OF the field tns country and in Europe
the next year looks promising 90 those who are con
tent to do Il leghimate trade.
Lord & Taylor, &C Broadway and T"entiethst. report
tbe ir cash trade a healthy condition. while their
accounts average about the al this time last
wear They exercise more in giving credits than
formerly and VIII pursue this policy until the market
becomes more settled Prices have been reduced IN