The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1875-02-13

caused w the
HAVAGE4 90 rae flhE flfNpi
which during the past year has lali
waste three blocks la lhe heart Of The
business portion of the city, besides
two whole blocks anal paltol n O lfd
further Out Gn one nj pur maln business
streets, iGlm, These blocks were
buil among the first after the advent
Of railroads, one aud half years ago,
aud had become 30 dangerous, belng "
wood almost entirely, that II was not
possible 10 secure Insurance In good
aud reliable companies, most Of which
had gradually entirely ceased 10 take
risks on frame building In solid blocks
The policies held In consequence we're
frequently worthless, aud some OF our
best merchants who had taken all due
precautions 10 protect themselves and
their creditors, were astounded 10 find
that what they felt they held secure Tor
the protection Of their creditors had ~
well persisted In the flames ~ be Ia
worthless fire policies. ANY one will
500 NJ u glance how much Of tho debt
Of merchants 10 northern and eastern
~ well m our own merchants, which
has been repudlated IL attributable 10
misfortune aud not 10 dishonesty or
maladmlnistratlon OF business
WITH THE OPENING OF FALh TRADE
aud the feeling Of universal desp0nd'
ency over the crops, much exaggerated
by the customary cry Of ruin sci up by
the average run Of farmers whenever
anything lac produces suffers damage
and dlsappoInls him, there was much
hedging 10 secure debts already due by
the interior 10 the city, and TO get the
cash trade coming IN, and money was
eight and not to be got, II seemed
from the tenor Of the general cry. But
arrangements bud been made by some
large buyers TO III orders for the staple
on account of largo New York factors
and eastern spinners, which last wa o
new feature In our market, and the
crop, which came in very slowly ut
frat, was gradually run up to such fig
ures that hope was entertained OF high
prices somewhat making amends for
the short production.
Then came q reaction and u fall IN
the price, caused partly by favorable
reports from other states, increasing
the estimate Of the crop of the year,
partly from the fact being ascertained
that the dry weather had in this sec
ton injured the staple to some extent,
particularly in the grades most in de-
mand BY spinners.
This caused u temporary with
drawal of these buyers, and those who
had lost by the sudden fall in prices
during the time required to market
what they had bought, and the market
was dull aud large quantities were
stored in our warehouses and in the
cotton compress, while much was
shipped to Galveston and other points
advances being made on same with
the understanding it was to be held fol
u time, rs the planter did not feel like
selling at the ruling rates. However
the farmer getting the cotton ginned
had to realize as he needed supplies
and had to sell to get the necessa
ny cash to buy with, and again TIL,
purchases were heavy and receipts anc
shipments large, when the rainy
weather set in, accompanied by sucl
cold rs was quite unusual in this lati
tude, rendering it impossible to hau
over the roads.
This has lasted with two or three
short intermissions mp to the presen,
time. Advantage was of course taken
to get into market what cotton it was
possible to haul during those intervals
of good weather, and bulk of crops has
now been marketed, though severa
thousand bales are yet to arrive.
Prices have been gradually going w
as the fact OLA shorter crop than was
generally believed would be made, be-
came apparent, though the universal
Indictment weather in the cotton belt
delaying the arrival of the product al
the principal markets, has doubtless
had some effect in conducting to this
gratifying result, though it comes toe
late to benefit the majority of the pro.
ducers or even of the buyers.
There has of course during this dull
season, been but small trade compar.
ed with the immense business done by
our jobbing houses during the same
period of the last commercial
year We have, by the
placing of freight at uniform rates by
the different railroads, which were
much lessened by the competition ex-
listing last year, lost our advantage, in
the prices Offered for cotton, over Waco
and other points, and hence those
points have been enabled, in some
measure, to regain their control of
some of the trade which would other
wise have sought their wares in our
market Again, we have lost some
trade by the high waters west of us,
caused by the excessive rains. The
Brazos river has been impossible a
large portion of the last two months.