The sun. [volume] (New York [N.Y.]) 1833-1916, 1876-07-23
A New Phase in the Dry Goods Trade.

The immense auction sales Of domestic
goods III this city, commencing in May last
aud extending down to the recent sale 10y
Mcssrs. MORRIS. FENNER x Co., which COM
prisod the largest line of 1anncls, twe,ds,
blankets, and woollens generally ever yet
offered to enc assembiage OF buyers in this
country, have attracted marked attention
In dry goods circles throughout the United
States.
The early spring sales were brought about
10y q determination on the part of several
manufacturers TO put an end t. the slug
gishuess and inactivity of the market by
peremptory sale of a large quantity OF
goods which found no outlet at private
sale owing TO an apparent want of conf
denoe in future values. The sales proved
entirely successful. They were widely ad-
vertised and buyers from all part of the
United States fiocked hlther in great num-
bers. The prices obtained were some ten
OF fifteen per cent. below the market.
While the buyer laid IN his stock Of goods
Al lower prices than 1t was possible for him
10 have obtained in any other manner, the
prices were satisfactory to the seller who
Effected what was practically equivalent
Is just now eagerly sought after by banks
md capitalists.
The manufacturer thus finds himself in
iposition TO profit by the great reduction
m raw material, TO buy his wool ard his
notion for cash at what he deems the most
favorable moment before manufacturing
goods for the coming season. What was at
nrst an experiment, seems quite likely to
become permanent feature in the New
York dry goods trade. The system is 80
mutually advantageous to both manufac-
turers and jobbers throughout the coun-
try that II cannot fail to become every
day more and more popular. 1t will, If
permanently established, draw both whole
Iale and retail dealers from every ection,
North, South. East and West. to this CEN
tire. All buyers are on an equal fooung.
The small trader, who only buys two OF
three cases, gets his goods at The same rate
Us Mtssrs. HORACE b. CLAFLIN & Co., or
A. Il. STEWART & Co., with all their advau-
tages of Unlimited capital.
Under q system of immense dry goods
auction sales in New York at certain
seasons of the year, say spring and fall,
business OF all kinds would for time be-
come concentrated here, and New York
would present at those periods very much
tho appearance OF Frankfurt aud Leipzig
on the occasion of their fairs. The whole
sale jobbers from all our large cities, the
small retail houses, aud country store
keepers from Maine to Texas and from the
Atlantic 10 the Pacific would come them
selves or send representatives 10 be
present at those sales. They will not on'y
buy their fun complement of dry goods,
but they will likewise profit by the oppOr- |
tunity to 20 through the market and make |
NIL other neediul purchases to replenish |
ther stock. No other city can offer them !
the same choice or the same advantage.
New York would soon become n very
much more important distributing point |
than she has ever yet been.
The increase OF the cotton manufacture |
during the last half century is one of tho !
most interesting events in the history Of
commerce. Tho consumption OF cotton
cloth by our own forty-,hree millions OF |
people IL virtually in our own hands.
The high taIiff 30 long maintained IN |
this country has brought our producing
powersup to and beyond our requirements
During the term OF free trade agitation
II was argued in England that pro ect ed
Industries failed, that tho quality de-
'erlnratrd' ana the cnterprising manufac-
'nre's u'Eah 10 'tHguate; but they hayo
'Hce admitted that those uigun .u,s do
not secm 70 aLp,T Ia A..iin.,, u,,,,,,tao-