New-York tribune., 1893-11-24
DRYGOODS MEN HOPEFUL.
ENCOURAGED BY THE BIG COTTON SALE.
LOOKING FOR MORE WORK AT THE MILLS AND
GREATER PROSPERITY.

LOOKING FOR MORE WORK AT THE MILLS AND
GREATER PROSPERITY.
After the sale Is over. after the notes are signed
--the enthusiasm which prevailed IN drygoods
circles still exists The exact amount realized at
the Rl,ss Fabyan & Co sale of cOttons on Wednes-
day. November g. cannO. be positively stated,
though IL will not he short of N'no,OM The an
nual product of the mills whose goods were soid ~
when the times nominal. about Szo'W'"oo
Hence tn. SALE though large one, Represented
only about one months product and was about
one-haf as much es should be sold next month
And vet. under the existing circumstances. taking
into account the fact that mills have been running
on short time and short-handed and that some have
been closed entirely. the Offering was iars" 'or-
nelius n. Bliss. of Bliss, Fabyan n co. says
Last year. between November 10 and Christmas
more than twice many goods were disposed OF
at regular sale as this auction lot represented ana
a, that time stocks were not SO down as they
ara now Stocks are depleted all over the country
from the largest dealer down to the SMALLEST con-
sumer and merchants had to stock up. Ihey khc"
Also" he added. that the catalogue contained all
the stock available. and that there was "o "'p"
cate stock to draw from.
The sale" continued Mr.. Bliss. was In every
particular satisfactory. We disposed OF our goods
at satisfactory prices. and the trade purchase' ~
figures equally satisfactory to them. The mercah-
tile world Ia no longer In a comatose state. as IL
has been for months-prices have Deen hhed
values settled. For the last six months We nave
had a demoralized condition OF affairs III business
circles credits have suffered. values were uncer-
tain and the result OF yesterdays sale WIN have a
highly beneficial effect.
As to the effect on the mills MI Hiss adi'u'
"The prices realized give us sufficient encourage
ment to warrant the starting Of some of The mills
and for some time at least. keeping our hanas en-
ployed These producers of merchandise are con
sumers az we'll. and upon their purchases depends
much Of the trade.
S. w Smith OF Smith. Hogg & Gardner. wh"n
asked his opinion Of the effect OF the sale on ousi
mes. in general said: THE effect will he highly
gratifying. The auction sale was one OF tho most
successful In years. and, though no goods OF ours
were sold the effect produced In the drygoods mar
ket helps all The terms were yery fav9ranl. @ s,
OF the mills have been closed so much Of la;,
that many feared goods would be scarce MssSr, rs
t's the good srsfa@ EJECT preduced T BY their sale
aus1re. m fpPs IN PSelkshre Comfy Massachusstts said
that yesterday one Of the buses. days tnry sc
ha to the sood feeling produced by the Bliss Fahya
& Co. sale. Buyers came here from a.. pa.'s 500, .,
OF prices FOR their auction purchases; ana , hat
stimulated them to buy more ana teei ina, aney me-,
~e't 10 the 'vS' Whole trade
C. p Moss Of Lawrence Tayo, c,H1y Coz said snd
had done the dryg9ods trade much good ,.cod |rhe
prleei l. "s'" so., Of w. 81. L. strong Co. remarked
1--WE are not in the cotton trade. and can do moth
ing toward starting our mills till We know which
way the Tariff cat wiz jump. but even In our
line we feel the bencfcial effect OF me big cotton
sale. The prices obtained we're better Than any my
one could expect and most buyers paid more Tor
their stock than they had marked on their ca.a-
ioaues such n condition Of affairs must make IL
self felt In all branches.
H. NJ. Townsend. Of Townsend & Yale large @ % op.
orators In cotton goods. was seen. and said since
July the stocks of the iobbcrs hav" been depicted
tbev have lived from hand to mouth. buying Just
ar little as they could get along with. MIL. have
been shut down have been running on half time
and there was n depressed state In manufacturing
ms we'll as In selling crc'es. peop:e had begun to
think that goods had vairc but the sale IN
question which. n business were good, would not
be considered very 1or%s-shows that there ~
bottom price goods and that the bottom mas Deen
reached: IL gives us good reason 10 believe also
that II there Is change In the near future. 1t iw
be for the better At the sale, Mr. Townsend
added ''the consensus of opinion WAS that prlcch
arc right and the sale created hopeful feeling
At The commission house Of neering Milliken 4
Co w. r. Johnson spoke IN this way: The sale
OF drygoods has had good ana IA stimulating ef-
feet: IL has demonstrated that goods have some
value. | have seen buyers here to-day IRON az
over the country and they are all happy. Wniie u
s true that goods brought within a Few points OF
asking prices think, 81 there were another such
sale Tomorrow, prices would be better STILL