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sioiial buyers, they are selling to buyers who do nothing- 

 else from one year's end to the other but buy goods at auc- 

 tion, and as a result it goes much more rapidly than back 

 on the farm where you are closing out at auction and where 

 the farmers are not so accustomed to buying. They do not 

 work so quickly. This one man getting up there talking to 

 the audience as I am talking to you, only about three and a 

 l,{ilf times more rapidly — this gentleman sells 80 to 100 cars 

 in a few hours, dividing it up into small lots. 



You ask me to whom does he sell? You hear people 

 sometimes say, who do not love Mr. Dillon or his assistant, 

 or anybody on earth — and I sometimes question if they love 

 the Almighty, they are so almighty mad at everything I 

 1 ave ever discussed with them — they say, "They sell to the 

 commission men." Four-fifths of all the stuff that the 

 auction company sells in New York are sold for the com- 

 mission men. Do you think those commission men turn that 

 stiiff over to the aiu-tion company to sell for them because 

 ihey can get less than they can for it at private sale? If 

 tliey do, they are not treating their shipper very well. The 

 reason they turn it over there is that it is highly perishable, 

 they get quick action and large competitive buying. They 

 ^'■et centralized selling at private sale, they get centralized 

 buying and diversified selling. There is not much chance 

 to jeAV down an auctioneer who talks so fast himself that he 

 can 't hear what you say. 



Who is in that audience? Well, the best, the highest 

 j)riced merchants in the city are represented there, the peo- 

 ple that Avant the fine goods, and that next class that want 

 the medium goods and the padones buying for the poor Itali- 

 an section, and the Hebrews; there are as many dilferent 

 languages in that audience as you can imaguie, and there 

 are men that we only know by their number, but they have 

 arranged for their credit so that the losses through the auc- 

 tion company sales are almost nothing. I think there were 

 only $2800 last year and the sales ran between $25,000,000 

 v.nd $30,000,000 that were given out and I understand there 



