Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1874-01-11
The Dry Goods Trade.

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The year 1874 promises to be more graft
flying to the dry goods jObbers of this city
than any year since the war. At the
present time the merchants are busted with
the completion of the regular half-yearly
inventory of the amount of stock on hand.
A visit to a number of leading houses dis
closed the fact that they are generally carry
ing lighter stocks than they have for years
before. The reason of this is attributable
to the late financial panic, and consequent
revulsiOns of trade. With a foresight ac-
quired by long experience, the managers of
the various houses at the commencement
Of the panic instructed their buyers in the
different departments to buy only such
goods as were required from day to day,
knowing that the prices Of merchandise
forced down by the panic could not regain
their former attitude in the reaction which
was certain to follow. Consequently the
stocks of the majority Of jObbers consist
wholly Of desirable or staple goods. At
present very few sales are being made in
the city, the larger portion of the statesmen
being engaged in personally visiting their
customers at their respective places of hIIsi-
ness, thereby more fully aScertaining their
wants for the coming season, at the same
time taking their orders for such goods as
are required for present use. About the
LIST of February the active business Of the
importers, manufacturers, and jObbers in
full packages begins. From that time 10
the 18th of the month the buyers Of jObbing
houses dealing directly within the retail
trade are occupied in buying their spring
stocks and arranging prices and discounts,
which, with few exceptions, will remain
finn during the season. The agents of the
jObbing houses report that through the West
and South the retail dealers are carrying
very light stocks, and, in fact, are almost
destitute of the ordinary articles of mer-
chandise. The prospect is that they will
come on to the city as early rs possible, in
order TO ship the bulk of their merchandise
before the frost leaves the ground, as many
of them, being located of the line of rail-
road, have to transport their goods for miles
in wagons. The proportion of country
merchants unable to meet their obligations
is very small. Many Of them asked for a
short extension of time on their notes, and
few were enabled to take advantage Of the
discount for p.ompt cash; but the number
who We're obliged to suspend from want of
funds was not in excess of the usual num-
Der of failures at other seasons. The large
class of employees in the capacity Of depart
meut statesmen and stock clerks suffer most
from the late panic, rs the majority of the
iobbing houses took advantage Of the pres
ent hard times to reduce the salaries Of this
class Of employees from twenty-five to forty
per cent. As the regular employees are
hired by the year, from JanUaryt to January,
this blow falls rather hard upon them. \
few Of them having resources Independent
of their salaries, made half-yearly engage
ments, but the larger proportion, being en-
tirely dependent on their salaries for sup
port, were obliged to accept the sum fixed
upon by their employers, not caring to run
the risk of being out of situation in the
dull season of July and August.