New Market. A style of ladies' winter cloaks, imported from England about 1880, at which time it superseded a style known as the dolman. New Market was formerly the name of along close-fitting overcoat worn by men when riding or driving, which derived its name from New Market, England, a town famous the world over for its horses and its horse racing. The form of the New Market garment for ladies has not departed far from the original, it still being a tight-fitting cloak made usually of heavy cloth the skirt reaching quite to the ground.