Note: The following is a republished excerpt from P. & F. Corbin’s History of the House of P. & F. Corbin. Published in 1904, it recounts the companies’ history on it’s 50th anniversary. We have made no changes to this excerpt and what you see is exactly how it was printed in 1904, albeit in a different medium.
Corbin, Whiting & Company (1849-1851)
The first traveling salesman for the concern was Mr. Henry W. Whiting, the new partner, who had previously done some work of this kind for Doen, Corbin & Co. and made three or four trips during his connection with the firm.
In the early years of this business goods were sold upon long time. The custom was to make settlement twice a year – in January and July – accepting in payment of accounts notes payable in four months. Customers would naturally defer making purchases until after the settlement period and then buy heavily, and the result was that on a large share of the goods almost a year’s time would be given. To hasten payment, manufacturers were wont to allow a cash discount of five per cent. at settlement time, or one per cent. per month for later prepayment of the notes. There was but little money in circulation, and a quick return upon capital such as is demanded to-day was not possible. This made it correspondingly hard for a new concern with limited means to make rapid headway.
In addition, American goods were not always looked upon with favor. The domestic manufacture of hardware was in its infancy, the known brands and favored goods coming from aboard. Importers and dealers, with their shelves stocked with foreign goods for which a trade was already created, were not disposed to buy domestic wares of no general repute which would have to be sold as substitutes for the well-known importations. To make articles already manufactured in this country would be but to add to the discomfort in introducing his line, so Philip Corbin decided at the very beginning to, so far as possible, make goods not then made in America, and thus eliminate one source of competition. Continue reading





