The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1876-05-24
GREAT DRY GOODS SALE.

TWO MILLION DOLLARS WORTH OF FABRICS
SOLD yEsrERDAY-HoPRs IN RRLIvAL OF
THE TRADE.
An auction sale Of dry goods was held yesterday In
one Of the s,orcrooms OF Messrs Wright, Bliss 4
Fnbynn, Of Nos. II and IS Thomas street, which is
very significant event in the annals OF the dry goods
trade CT Now York. tho like OF which not recorded
About two weeks ago the firm above mentioned sent
all tho country circulars stating that percmp-
tory sale of domestic dry goods which they, agents.
then had on hand would be put up at auction at tho
rooms Of Mcssrs. Townsend, Montant & Co., Nos 20
and 81 Leonard street This sale was or
dered by the directors and trcnsurcrs OF
many OF the greatest manufacturing CON-
panes in tho country for the purpose OF fixing
price for the goods TO be offered. For long time
past there has been ttlo want Of confidence among
the dry goods merchants OF New York account OF
tho instability OF prices This has caused great
emulation tho hands Of the agents OF the mills and
many Of tho mills havo been compelled to suspend
work.
In response TO the circular firms from every part of
tho United States thor representatives to this
great salc and for several days past has been the
chct topic Of discussion among the dry goods MGR
chants On Monday, however, II was discovered that
the sacsrooms OF Messrs. Townsend, Montant Il Co
would not DO sufficiently large TO accommodate tho
enormous number Of buyers who had expressed q do
termination TO be present ut the auction tho place
of sale was changed from Leonard street to tho large
storeroom OF Mcssrs. Wright, Bliss Fabyan, on tho
third floor of their building, which runs from Thunas
to Duane street. The room was arranged
ing been butl. near the middle, opposite
to 1t being raised desk for the clerks. who had
lively time OF a,l aay. Az eleven O'clock ING room
throughout tho Union beng represented Al tho open.
ing Of tho sale tho large sacsroom was unable TO con-
tain majority OF tho would DO buyers who, even by
dint Of pushing and squeezing, could not succeed in
gaming admission TO tho room, aud o number con-
tented themselves by awaiting on the stairway an
extended out into the street the Thomas street SIDE
filling up the passagcway and making II difficult Tor
trucks to pass. The attendance at this time could not
have been much less than 1900 persons. Probably
10, 900 persons visited tho room during the day.
The proceedings were begun promptly by Mr. VOL
BERT auc,oncer, of Mcssrs Townsend. Moniant Co.,
who read tho terms Of sale and then introduced Mr.
Acknowledgements finding so hearty response 10 hls
invitation. He sac that the belief OF the firm
that the timo had come for united effort on the part
OF merchants to put an end, possible, to the pro-
longed depression which had existed In the market
the autumn Of 1873, and that ssbottom prices"
should be ascertancd with view 10 inducing revival
OF business To do their part in their line they would
offer the entire stock Of tho manufacturers named In
the catalogue with the hope OF forming basis fer
future operations The quantity was really not so
great Il would at first to be- Il only equalled
in amount about the quantity sold by them by ordinary
Tho first line offered was a lot Of Pcppcrell X Brown,
In lots OF 1--WE bales, and started at six cents and
knocked down AZ seven ana quarter cents. T. Ia Luce
and j. Greenleaf Co. taking tho first orders. The
next tour or five lots sold NJ slight advance which
increased the excitement the goods bringing fair
prices and tho demand being eager that the auc-
tonecr repeatedly Obliged TO run up tho bid in
order the number Of those who were anxious
TO DO served This animation continued during tho
entire SALE which terminated mt half-past six O'Clock
in the cning. The upronr was so great nj times as
10 completely overwhelm The auctioncer The utmost
good feeling, however, prevailed The printed cata-
logucs which contained tho description OF the goods
which, by tho way gave out carly IN the day.
noticed only about O. 600 OF goods which all
that intended TO be sold ut the tlmo the cata-
logucs printed, which during the latter part
OF last week; but since that time tho firm have re-
ceivcd some 3, 900 addition. and tho crowd
evincod such anxiety to buy that The newly re-
ccived 5000 cases werc put up also and went OF as
rapidly as the first Many more could have been sold
had they been hand. Palmer plaid chcviots sold at
97xc per yard; Otis plaid 10sc. Bates basket 10c !;
32-,nch Glencoe, l01sc do, another lot. &C.. &C.
The average prices obtained for the goods sold was
entirely satisfactory to the sellers and they consider
the auction very successful affair The lower
grades brought the best prices, though all
sold we'll, excepting lew undesirable odds
and ends. In view OF this sale few lines
Of cotton goods have been sold by tho large
Jobbng OF this city during the past few days,
but the importance Of this sale Will be at
ceivcd when Is stated that the prices realized ycstcr
dny show falling of Of only abont ten per
from the last market quotations II IS estimated
that the aggregate amount brought for the L.
sold was In the ncighborhood of 81, C00,O00.
Tho loading merchants from all parts OF the country
conceded In tho opinion that this sale would have the
effect OF cquaItzng prices and placing tho trade on
hard pan. At the same time IL would serve to clear
tho market OF stagnatng surplus by widely distribute
ing the This would act also To Tx prices nrmy
and guido the manufacturers hereafter so that they
would be moro careful against accommodating an excess
which necessarily ovcrstocks tho market. Frequent
and emphatic expressions made to the effect that
brighter trade prospects were inaueuratcd