The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1877-01-31
COMMERCIAL.

HEnALD OFFICE, Tuesday, E'enins. !
| Jan. 80, lG7 J
A quiet, steady business during the
day. Weather mild and spring-like.
The numbar Of country people in town
g-egter than At amy time for u week
past. We have no market changes to
note in the leading staples. Money
continues sufficient for commercial de-
mauds aud the accom- mediation of
parties with good collaterals. We are
ylad 10 note better and more hopeful
feeling prevailing in busiuesa circles,
and note II good PROJECT for reac
ton. The recent failures ARE to be at-
tributod more 30 IN unforeseen combi'
nation of circumstances and shrink
age Of values than any lack Of p close
adherence to cardinal business princi-
pies.
Many of the merchants in the South
bought heavily of i0hbers In New York
just before he panic in 1873. The
panic then came ard the very goods
they had bought n few months before
went down from third to half.
Then it was that the West bought;
consequently her merchants are in Il
better state than those Of the South.
The Southern merchants, to hold their
own and meet portion Mt least of
their paper, had to mark down their
goods ut ruiuOus rate. Cotton prints
which they had bought jnst
before the penic Nv twelve
cents, some months afterwards
were sold by the New York jobbers for
ak and half cents. 10 compete then
with those who bought after the panic,
those who had bought before it were
compelled to cat down prices lght and
left. The reault was that the Southern
merchants have been pulling against
the current, sacrificing property to
meet paper and in many instances
ilOurdeling along undcr al over
whelming REORGANIZATION Of paper, The
stagnancy Of ,rNde for three years has
not enabled them To meet it. II they
had bouuht after, instead OF before the
panic with all the lights before them,
they might have so trimmed their sails
rs 10 have weatherod the storm.
They have as class carried their bar
dens mautully, and succumbed only
when crushed by the weight of them.
They merit and should receive the
support and credit necessary to re-
cuperate their shattered fortunes.
What we have said is as applicable to
the merchants OrTeXas and Dallas, NJ
anywhere else ia the South.
The subject of manufactures con
tinues to receive attention. The COM
pletion and operation of the cotton
seed oil factory has demonstrated
what little energy and capital will
DO. The quality Of the oil is as good as
that made elsewhere, and the farmer
Is offered another source OF income in
the sale OF his cotton seed
The Commercial Gazette Of the 20.h
says The agreement of the congress
sl0ngl committee upon plan for the
counting Of the electoral vote, has been
received with almost universal salts
faction 10y the entire business commu
nifty OF the nation, and the hopeful
news that the bill seems almost sure
to pass adds to the pleasure OF all, save
the most partisan. II ia one of the
most cheering signs Of the times that
10 many gentlemen OF both parties are
OF a similar opinion, and that the OPP
position comes mainly from dema-
gogues like Morton, who are noted for
their inconsl tent hostility to the ill.,
terests of their constituents. Some
concessions from both parties are die
tated by the exigency which says that
unless some legitimate compromise be
instituted civil war and chaos must re.
suit.
The general tone of the merchandise
markets Is of more decided improve.
ment than has found expression for
several weeks. Trade on mail orders
aud from salemen's efforts IL growing
decidedly In the number of bills order.
ed, II not in their size. The Ice block
AIDE continues to hamper our river
trade, and receipts and shipments OF
produce have been interfered with by
the detention OF weather-bound trains
to some extent. The money market
has not presented any new phases dur
ing the past week. In our last
review we noticed growing ten
dency to greater ease, and remarked
that itwould probably be seen during
the coming week t1at outside paper
would be more freely taken by all the
banks. The result has fully justified
our expectations, for the stock of loan.
able funds Is now large enough in all
the banks to fully warrant them In
accommodating all Of their customers,
and discounting good deal OF outside |
PAPER besides. The falling Off In the |
demand for money Is due more to the
inability OF shippers to obtain sulIl.
cient transportation than TO any other
causes which combine with the scarcl.
" OF cars TO restrict shipments.
One difficulty Is at the seaboard.
The prevalence of ice In ali
the barbors greatly impedes the move.
ment OF vessels and enhances the cost
OF loading a vessel; and the stormy M.
ture OF the season compelled an nd.
vanced rate OF freight. The RAILWAYS
have also advanced their rates and
united to the rise In ocean frpIuhta cuta