The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1879-01-23
Market Reports.
OFFICE OF FORSTER & Co.,
BANKERS, AUSTIN, TEXAS, Z
January is, 1879. \


BANKERS, AUSTIN, TEXAS, Z
January IS, 1879. }
The week under review has been a
quiet one in general trade circles,
though up to the ordinary amount in
corresponding years of late. Nor has
resumption Of specie payments had
any particular effect IN one direction or
the other SO far.
The cotton market has been a varia-
Bile one, but as rule, though prices
are still low, the tendency has been an
improving one, and the advance well
maintained. During the early part of
the week the market for cotton was
quiet, but at times became somewhat
excited, with WIDE fluctuations, gener-
ally favoring sellers. Toward the end
prices were hardening, and very full
figures were obtained, reaching cents
in one instance. We often advised
farmers 10 hold to their cotton, il able,
and We were right, US the prices now
show, and prices will 60 higher, al
though we look for fluctuations.
To-day Liverpool reports an active
and firm market at an advance of Lie.
Tiled for uplands, and SD for
Orleans. New York futures opened
quiet at 9.53 for February, while at
Galveston and New Orleans the mar
kets were very firm. Our own market
showed considerable strength. a lot OF
40 bales chasing strict good ordinary
sold for &c round. We quote ordi-
nary 6 7-6 to &c; good ordinary, Is
10 2 lac; low middling, z S-9 to z Ia
middiing, &c; good mlddling, 8 lie.
For extra staple cotton 10c was paid.
The receipts at Austin are slightly
: Increasing and with better prices. We
look for larger shipments.
Shipments from Austin since
September /, 1873, to jan
uary 10, 1879, bales. ..... 17,246
By international, from jan
uary IL to January II, 1879. 4s9
By Houston and Texas Gen.
trial, do. Ala
Total bales to date. ... $40
Selected hides are very firm at IL to
13e, with large receipts.
Desirable samples of wool are very
readily taken, and prices range from
10c for bury to 10 and .1sc free of
bnrs.
The grain market shows armness
not anticipated by many. Wheat ia
scarce at 75c, corn brings zoe and oats
35c, with an advancing market.
Coffee IL less firm, and decline OF
1-2c on all grades is reported. Sugar
Ia quiet and steady.
Hog products are very low. Hams
are sold at 8 SAC, and clear sides at
6 LAC.
Local financial affairs were very &C
i've last week. The counter transac-
tons of the banks were large, with an
increasing business. Money is in good
demand, but collatersls or names are
scrutinized, and moro caution is used
in discounts. The many failures and
assignments all over the State are very
discouraging, and affect the money
market.
Treasury warrants continue firm al
97c to CSC, where they can be used for
payments into the treasury.
Pension certificates continue to de-
cline; round lots sold at zoe, smaller
ones brought less. We believe the
Legislature will make the necessary
appropriation for every kind of legal
indebtedness. AS there seems to
be no doubt about the appropriation
for O. X. accounts, the market ia
frmer, Sic to sac being lid, according
TO amount.
Gold, silver and currency are OF par
and circulating side by side. The
United States had on the first of
January about 1926, 900, 900 in coin in
the treasury, against g-eenback cir
culation of $346, 900, 900. 1t may be
of interest to compare the condition
of the United States as to coin reserve
and paper obligations, with the ma
tlonal banking institutions of Europe.
We find that the paper circulation OF
England, France and Germany is only
trifie in excess of the specie reserve
s,hand. We have computed the pound
sterling at 50, United States currency.
RAnka. 2coIasnd Bullion. Circulation.
Enoiand S.NN..Y. $50 SIa2 221 An