Year: 1874

FALLING OFF IN THE DRY GOODS. CLOTHING, GRO


Gerry AND IRON TRADEs-vIEws OF PROMINENT


MERCHANTs--No REVIVAL EXPECTED BEFORE


FALL.


The effects of the financial crisis OF last Fall,
OF the strngency and uncertainty which followed, ana
OF the want Of financial policy in Congress- have been
marked with regard to the Spring trade IN New YORK
Wide and careful inquiries by TRIBUNE reporters In some
the leading lines OF business show seriously dimn'
ished volume of transactions In very important trades
aud lack OF spirit and confidence In almost every ac
tvity connected with them. Tho great annual stream
OF buyers which has its In every part OF the
country and pours itself upon this city every Spring
and Autumn. is considerably diminished Retail dealers
everywhere are slow any risk by making large
Investments, aud small proportion OF them hnd II
difficult provide what they to those from whom
they have bought. Collections generally slow, ana
in the South vexatously OF the four great trades
Uhe wholesale dry goods the clothing the grocery. ana
the trades) the first and the last appear 10 nave
suffered the most. The wholesale grocers have been
least affected their business caters to the appetite
where economy Is apt TO be tardy and Meeting


THE DRY GOODS TRADE.


Financial uncertainties and Alarms with the doubtful
basis monetary transactions have much impaired the
wholesale dry goods trade OF tnis city, The highest es


mates place the business done 80 far this year
at three fourths OF the amount done In the same time
last year. Buyers are said to be late In coming ana
tmid when they get here They give comparativeiy
small orders and the most tempting oilers cannot eso
them into extensive Investments. Most OF tne large
houses fluid collections slow and considerably en-
barrassed. Especially in the South Is apparent the
decrease OF purchasers and purchases aud the oncy
in paying what Is DUE sGne firms find difference 10
the character Of goods demanded by retailers their
patrons eschewng the elegant and expensive articles
even more than last season. Others recognize change
of this kind The retail dry goods business OF New York
does not appear to fallen off much as the whoe
sale trade and some prominent merchants report that
city sales have not fallen much below those OF last
Spring


H. B. Clahin stated to a TRIBUNE reporter that the
wholesale dry goods trade has been backward ana du
this season. Probably not more than threequarters OF
last seasons trade has been done by wholesale houses
throughout the city There has been some Improvement
bowever said Mr. Clafiin within q week or two. Tie
number of Southern buyers visiting this city s much
less last year. From other sections OF Ihe country
there is not so much decrease In the NUMBER oI pur
chasers as in the amounts Of their orders In Ne"Jer
eywhere there has been 80 much manufacturers uere
"a marked reduction OF demand. This reduction is not
so large the most expensive goods as might nave oeen
expected from the general disposition toward economy
Many dealers in NewJersey and the West think they
must have the costest goods as well as the suosana
The wholesale houses cautious In giving cred's' ou
not many failures in the retail trade are eAPectcu
Retail merchants generally have low stocks ana are us
increasing them. IL W
be noted in the character OF orders as the season
advances


T. 4 Jafrray remarked that business has been light
ths wear but is not now altogether discouragng The
sales OF his house far in this month mad been utte
I'm excess of the days last year. large propor-
ton OF tho dimnution in the general trade WHICH, IL
seems to me- said Mr. Jay has been over Is per cent
in this city, has due to the cutting OF OF great
part OF the Southern business Southern merchants VIII
Iax, I.r0a a,op pka give
credit 10 the planters until the latter realize Oh the
Fall crops and the disasters of last Fall have dscour-
aged that system. Hence Southern trade Is becoming
almost exclusively a Fall trade. Among western BUY
ers there Is serious decrease In NUMBERS anu
those who come give pretty fair orders The most ee-
CANT silks costlest laces and goods OK that Glass; are
not much called for for two three years the out
Law in those articles has been somewhat limited. 1t
might have been supposed that many buyers who ala
not come 10 NewYork with their reduced orders would
have sought Chicago and st. Louis, yet recent au-
vices from those cities show that the largest houses
there are not doing than twOthrds or last years
business Collections lind tolerably easy 1t Is really
marvellous how well merchants have met their oDilga-
tions since the panic. Even October, November, and
December the majority Of them paid up WELL do not
expect embarrassment many failures in the trade
Notwithstanding the reduced sales. The wholesale
bouses have prepared themselves and the retail men
buy lightly and cautiously Present indications ead US
TO look for a brisk Fall trade, unless the crops faii


Mr. Arnold of Arnold, Constable Co. said that there
had been dlscOuragng drag in the business, which
had been slow and light much of the time since the
opening of the year. few days ago 1t assumed some
Of activity but has fallen back again with
u.s. Buyers don't to the city so OFTEN as last sea-
son. They buy in hand-tomouth fashion and 10 cer'
tain extent avoid the highesprced goods Our house
does not much Southern trade but understand that
there is very heavy falling of In that section we had
rod hat would freely
this sprng because many Of them put of buying AFTER
the panic but tho fact is Western trade drags COL
lectons are not very difficult generally speaking Inere
were Sc yera failures the beginning OF the year. That
is the time when for the most part failures IN our trade
are TO be looked for Consequently serious embarrass-
ment is not anticipated now. Our retail business was
good March, and held Its own III comparison wltn last
year. but 1t drags now.


The head Of one OF the chief wholesale houses who OBJ
iects to the publication OF his name. takes gloomer
view OF the situation than any OF those quoted He
saws there twohrds Of the demand OF last year.
although that poor year. Tnere Is a unlVersai
disposition toward economy. People old clothes,
and don't buy dry goods till they cannot well delay
longer Railroad building has decreased from
last year at the rate OF 1000 miles per
annum, and in all sorts OF business there
is a pairing down and dulness. The dry goods trade
has been swollen beyond proper limits For tnree year
there been comparatively little profit In II, though
few fortunate firms made considerable gains In ie'2
From the voluntary or enforced economy tnr9ugnout
For considerable time their expenses nave Deen more
than their profits mSs Ssna s Ts
will be many failuresit be In few weeks there
certainly will be within q few months. The Southern
merchants are most crippled in resources but all ever
the country the from presumptu0us speculation
and from overtradng is severely felt Collections are
year My house Is very stringent about credits,
aud has prepared In every for the embarassments
In the trade which are coming.


THE CONDITION OF THE CLOTHING TRADE.


In the clothing business reports are in some respects
more favorable than those obtained In dry goods, but