The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1878-10-17
Marie: reports.
OFFICE OF FoRsTEK & &c. !
BANKERS. AUSTIN, TEXAS. !

Octoetr IL. 1873.
General trade was active and salts
factory during the past week. DIV
goods houses ard grocerymeD report q
fair average order business, and retail.
ers find sales Increasing.
The market fer cotton is best chsr,
acterized as z'g-z4g market, ending
agaia in lower prices, with still lower
figures to look IN in the near future.
Liverpool, at 1915 NJ, comes quiet
aud unchanged; midiling uplsnds
sled; Orleans & 9-16i, vi h sales cf
COCO bales, and arrivals / 3al cheaper
and closing dull.
NV York y quiet for spots. and
futures make 10 20 10 10 26c for Octo-
Der; 1921 to 10 24c for November
1923 to 1866 tor December.
Galveston is quiet but firm, with
8 3-Sc for lox mlddling, and 8 8 for
middling; whilst our market is steady
at Z sac to 7-Sc for low middling,
and s 1-So to Ia for middling.
Shipments from Austin since
September l, 1878, previous
" reported to the fourth il
slant, bales. ...... 4Sl7
By the International from the
fifth to the eleventh instant. 760
By Texas Central, do. .. 65I
Total bales to date. 49,. G22S
Shipments from Round Rock
since September to OctC-
Der "A. .................. 1907
From October , to October IL 93l
Total bales 20 date go. 413S
We have often given reasons for the
decline in cotton, aud we have now an
additional one in the failure or the
Glasgow bank, with liabilities of $50,
900, 600. The failure is supposed to
have grown out of trouble in the India
trade, and from the most culpable mis-
management and dishonesty. The In
dia firms were largely interested in cot
ton goods, which kept on declining,
whilst cotton remained dear, hence
financial embarrassment; to show their
condition more clearly We state the
price at Liverpool:
Date. MidUp. Com 40 s.mule. sI4 70 Shirt
oct, ~ G!s q. 9a Gs11add.
We see here cotton 1-2c dearer per
pound, and products are the same
price as in 1877, but even at last years
prices for cotton, spinners claimed to
lose money. The natural consequence
is, that cotton will go lower, although
slight reactions will occur. As a rule
the bulk of the crop is marketed be-
fore January 1, and This year will
show no exception. We are quite GER
tain of higher prices on January l,
1879.
Hides are dull and nominal. Wool
is scarcer and prices are weakening.
We quote the market dull at TIC for
clean six months clip, free of burs.
The wheat market was more active;
sales were made at SOC for round lots
the tendency is for higher figures for
sound wheat.
Oats are in demand at 81 1.2c, with
light offerings.
Corn commands soc a bushel, and
cotton seed is scarce at Sc per bushel.
The market for securities has been
dull and transactions were few. Some
pension bonds sold at 102 and interest.
No county or city bonds were offered.
Treasury warrants remain firm at 90 to
SO bid and asked. The favorite Sc
curity was pension certificates, for
which Csc was paid. o. K. accounts
sell readily at 70 to SOC. Transactions
were restricted Tor want of offerings.
The structures made last week on ma
of gold by the Treasury
ring in New York apply with greater
force now. Gold went up in New
York to 100 1916 bid, with 10 per
cent. paid for borrowing cash gold,
and will just as suddenly drop as soon
as Sherman and his allies have turned
an honest penny by this squeeze.
Silver dollars cannot be obtained by
private bankers except through the in
of some favorite bank
we cannot quite see the difference be-
tween the meney of one citizen and
that of another.
Exchange is firm at IA to 1-2 dis
count buying; banks draw at par to
Ia premium.
FRANCIS B FORSTER.