New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1916-12-04
Outlook in the
Dry Goods Trade

Interviews with merchants in differ
ent sections Of the country. appearing
in the December issue Of DRY Goods
indicate that their confidence in the
future is mistaken. They are never
theless cautious and voice warning
to dealers not to get loaded up with
high-priced merchandise lest a decline
in values should set in that would
cause heavy losses.
Money has been cheap, and the
temptation 10 over-expsnd has been
great The promise Of large profits
has led many to overtrading. Ex-
tracts from some Of the interviews
follow;
John c. Shedd, president Of Marshal!
Field & Co., Chicago:
While our confidence in the future is en-
phasized in our preparations for an In
crcasing demand, yet We cannot refrain
from adding word Of caution 10 dry
goods merchants. We anticipate an ca
and beyond that II conditions abroad con-
tinue 20 favor our country with war con-
tracts for munitions and foodstufs. We
believe. however. that when this condition
ends there will be a gradual recession in
prices
Calvin VI. Smyth. president Young
Smyth- Field Company, Philadelphia:
A foreign demand which is unusual un-
natural and unstable has put an artificial
value on our manufactured products which
may prove dangerous. Money has been
cheap. and the temptation 20 over-expand
has been great. and the promise Of large
profits has led 20 overtrading.
Retailers have been buying far i'm ad-
vance Of normal requirements. Specializing
on the probability Of greater demands and
higher prices. and the question naturally
arises a. 20 how they will finance the larger
stocks II they do not have early cold
weather 10 turn them into cash The
larger bills have not yet become due. the
accounts are Unusually large. and there will
be early demands FOR heavy shipments Of
spring goods.
George II. Partridge, president
Wyman. Partridge & Co., Minneapolis:
II is difficult to anticipate conditions for
1917 In the dryEoods line. The marked ad-
vance in price Of practically everything in
that line necessarily will lead 20 a curtaii-
ncnt In the quantity OF purchases and. in
some instances, we feel prices will be so
high goods will not be moved. However
as a fairly good spring business seems az
sured. fall business Is problematical.
l. -aaN aEvos f,Frw "a on .
whole have had a very profitable year. the
hanks AL through this section OF the coun-
try are running very strong. and II VIC can
secure an average crop the coming year.
see nothing 20 indicate other than a
continuation OF good times IN the North
west.
G.. Mack Wilcox, vice -president The
Daniels & Fisher Stores Company, Den
yer:
The mining sections are very active on
account Of the high prices obtained for
METAL agricultural returnH in the irri-
gated sections are quite satisfactory. OF
course. extraordinary foreign developments
might upset the metal market, otherwise
prospects for the year coming are very
encouraging
K. b. Paterson, president Spokane
Dry Goods Company, Spokane;
Business at this time Is progressing
steadily and expanding moderately. Agri-
cultural and horticultural interests
highly prosperous. Mining very Active.
Lumbering fairly 30. Labor well en-
ployed. Bank reserves highest on record.
etc. so Il may be said thst the outlook for
1917 Il moet promising
However. II Is realized that present price
levels for merchandise involve an element
Of danger for merchants. and u Is hoped
that We all may constantly bear this IN
mind and continue 10 operate cautiously
and with moderate stocks.