Cotton goods, which includes nettings, voiles, printed and bleached cottons, are sold to manufact urers of shirt waists and underwear, and to jobbers and retailers. The usual terms are 2/10/60, sea son's dating, the latter being October 1 and April 1. Delivery is usually from May for October dating and from November for April dating. Some cottons, however, such as cotton goods for the shirting trade, are sold on 2/10/4 months. In some cases, cotton goods are delivered as early as February with a No vember 1 dating and with the usual discount of 2 per cent for cash in ten days thereafter.
Velvets, which include plushes, are sold chiefly to manufacturers of suits and to the millinery trade. Terms are usually 7/10/60— with dating April 15 and October 15, in the case of the millinery trade. To manufacturers the dating is usually January 1 and July 1.
Silks, which also include satins,'-are sold to manu facturers of waists, skirts, suits, and also to the re tail trade. The terms are practically uniform in this line, being 6/10/60 with dating of January 1 and July 1. The date of delivery in the Base of these goods is not quite so early, being rarely more than two months (sometimes only one month) before sea son's dating.
Silk ribbons differ from other silks only in that they are sold chiefly to the millinery trade and as such in common with velvets and other goods used by that trade, subject to dating of April 15 and October 13. As in the case of broad silks the terms arc 6/10/60.
Linens are wholly imported goods. They are sold to retailers chiefly on what are known as "regular terms" of 6/10/60, which means 6 per cent for pay ment in seventy days. When the quotation is "net terms," it is understood to be 2/10/60, which consist ently means 2 per cent in seventy days. A third quotation is "net net," which means "no discount and no dating"—in other words, spot cash.
Other terms upon which linens are frequently sold are 3/10 e. o. m., which means 3 per cent off if paid within ten days after end of month. Again, in the term 3/10 r. o. g., the abbreviation means "receipt of goods." At times linen goods are sold subject to delivery from the other side of the Atlantic. In that case the terms quoted are usually 3%/10 r. o. g.
Shirts and collars. The terms on which men's col lars are sold appear to be more uniform than those which govern the sale of shirts. The former terms are almost invariably 5 per cent off in thirty days, or 6 per cent in ten days. Manufacturers of shirts coin nionly quote terms of 2/10/60 and 6/10/60, the terms apparently depending somewhat upon the class of trade to which the goods are sold. Some manufactur
ers quote terms as liberal as 8/10/60, while others are said to sell only on terms of "net ten days." Terms to jobbers are almost uniformly 2/10/60.
7. Men's and boys' suits of the better grade are usually sold to the retailer on a sixty days' dating at 7 per cent off for cash in ten days thereafter (7/10/60), or four months net. Cheaper grades are sold on a sixty to ninety days' dating net.
Season's dating in this line is May 10 for spring term and November 10 for fall term. Deliveries for the spring term usually begin in February, and for the fall term in July. A common quotation of terms in this line is therefore 7/10 season's dating.
Some manufacturers of men's clothing quote 2 per cent in ten days, thirty days net, which in other cases is varied to read 3/10/30.
Cloaks and suits of the better grades are sold on terms of 7/10/60 (7 per cent in seventy days) which, when payment is "anticipated," equals 8 per cent in ten days. On cheaper grades of goods the terms are usually 2/10/60 or 3/10 net.
8. Customary credit terms in the lumber business. —The business of lumber manufacturing and selling is, as might be expected, highly competitive, since such operations are scattered over the entire country from east to west and from north to south. Many associa tions of lumber manufacturers and dealers have been formed, and much has been done by these associations to foster the interest of the lumber trade. Uniform ity of grading, dissemination of information relating to production and marketing of the product, etc., are the chief objects sought by such associations.
The National *Wholesale Lumber Dealers' Asso ciation has adopted a uniform schedule of credit terms, of which the following constitutes the chief part: Settlement to be made promptly on receipt of each car. Freight net cash. Balance by note at sixty days from date of invoice or less per cent discount for cash, if paid within fifteen days from invoice; or 1 per cent for cash if paid within thirty days from date of invoice. No discounts allowed after thirty days. If car is not received within the above discount time, and discount is desired, prepayment on account will not be held as acceptance of the shipment, and the right to make corrections and complaints will not be forfeited thereby. In making delivery to prices, cost of goods delivered at destination is guaranteed, but not against delay in transit. Claims for count or quality must be re ported as soon as car is unloaded and tally proven. No claims allowed if not reported within ten days after un loading.