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Yes, M. Thomas & Sons of Philadelphia, Pennsylvania was one of several nineteenth century auction companies that operated weekly Auctions from their "Auction Store" located at Nos. 137, 139, & 141 South Fourth Street. They were a non-stop Auction machine until they were acquired by Freeman & Sons later in the same century. Freeman's is still operating in Philadelphia today and boasts that they are the oldest operating American Auction House beginning over 200 years ago with the first Auctioneer's license in the city of Philadelphia.
The contents of a sixteen page catalog for the week of July 14th, 1885 bears witness to how the Auction firm of M. Thomas & Sons operated. The principals were N.A. Jennings, J. Harbeson Barnes, John H. Lofland and Samuel S. Ellis. The top front page of the catalog states "For Stocks, Loans, & c., to be sold Wednesday, see pages 15 and 16 of this Catalogue." Real Estate was offered at "TWELVE O'CLOCK precisely." There was "NO POSTPONEMENT ON ACCOUNT OF WEATHER."
Their schedule was clearly spelled out on the lower front cover; "PUBLIC SALES OF REAL ESTATE at our Auction Store every Tuesday at 12 o'clock noon. PUBLIC SALES OF STOCKS AND LOANS at our Auction Store every Wednesday at 12 0'clock, noon. SALES OF FURNITURE. Paintings, &c., every Thursday and Friday, at the Auction Rooms. SALES OF FURNITURE at Private Dwellings receive prompt attention. SALES OF PRIVATE LIBRARIES and Miscellaneous Books. SPECIAL SALES OF PAINTINGS in the Art Gallery. Copies of this pamphlet may be had at the Auction Store." In addition it states, "1,000 CATALOGUES OF REAL ESTATE ISSUED WEEKLY."
In the event that we think they are not busy enough, the bottom of the catalog corrects the notion, "On our PRIVATE SALE REGISTER will always be found Valuable City and Country Property - including every description of Real Estate - Dwellings, Stores, Building Lots, Farms, Country Seats, &c., &c.," There work is performed at a pace that "ALL ORDERS RECEIVE PROMPT ATTENTION."
This particular catalog of real estate for the Tuesday July 14th Auction describes 14 numbered properties. Again, these catalogs are produced every week. The terms to the Sellers of the real estate are quite simple. "For the Sales of Real Estate, we charge one per cent commission, in addition to the expense of advertising. When property is subject to mortgage we charge commission of one per cent on the encumbrance. If property advertised is sold previous to public sale, commission will be charged. The Auctioneers reserve the right to require a cash payment to be made at the time of sale on Real Estate, Stocks, Loans, &c., whether so advertised or not. Sale of Ground Rents - All the accruing interest goes to the seller up to the time of settlement."
Each of the fourteen numbered real estate offerings have a paragraph of description and any special terms are listed. It appears that successful bidders needed to post one hundred dollars as downpayment on each property they successfully bid on. A larger property required $200. The first parcel was a 3-story brick tavern and dwelling, the next three were three story brick dwellings on different city streets. The fifth property was a large lot on Sycamore Street, the 6th was a three story brick store and dwelling. Seventh, a tavern and dwelling. No. 8 was a 2 1/2 story frame dwelling and 9 was a two story brick dwelling. No 10 was a wharf on the Schuykill River. Eleven and twelve were dwellings, while thirteen and fourteen were "Well-secured Irredeemable Ground Rents." The real estate offerings bring the reader up to page nine of the catalog.
Page nine of the catalog is dedicated to "Notice Sales of Furniture in our store Thursday and Friday. We sell two days in each week. Thursday's Sale includes the contents of the Second Story and Basement Salesrooms. Commencing at 9 o-clock Friday's Sale is confined to the First Floor." The second Auction was to commence at 11 o'clock.
Page ten of the catalog describes an "Executors' Sale at the Hagy Mill Rose Glen Station of Paper Machinery by order of the Fidelity Insurance Trust and Safe Deposit Company, Executors." Page eleven twelve list upcoming auctions including an "Excursion" Auction, meaning "on-site" of 100 very desirable Lots in Ocean City, Cape May County, New Jersey on the premises at 12 Noon on Wednesday July 22nd.
Page thirteen lists the nine newspapers where they regularly advertise their Auctions as well as providing information on how to obtain a handbill on any single real estate property of interest a week prior to the Auction. There is also a list of eight real estate properties to be sold on July 21st. Four properties were already listed for the July 28th Auction and two for August 4th.
Page fifteen and sixteen list all the cataloged lots of stock and loans that were to be sold on Wednesday July 15, 1885 at 12 o'clock noon. Each lot is listed on a single line, "30 shares Spring Garden Bank, par $100." Another listing is "39,900 shares The Omega Copper Mining Co. of New Jersey, par $3." The end of the listing of twenty-three lots is a note "Additional Stocks and Loans will be found in the Catalogue issued Wednesday, the morning of sale."
The bottom of the last page addresses the "Private Sale" of real estate. "Elegant Residences, also Elegant Country Seats, Valuable Farms, Valuable Business Stands, Small Dwellings, Building Lots, Ground Rents, &c, including every description of property. See Private Sale Register."
M. Thomas & Sons Auctioneers of Philadelphia was very successful at conducting well orchestrated, cataloged Auctions on a weekly basis in the late nineteenth century. They provided a viable regional market or exchange for sellers and buyers, proof that the Auction Method of Marketing was an integral part of the American tradition. Today, the Auction Method of Marketing is flourishing. Auctioneers and Auctions have built, and still are building America.
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