The weekly democratic statesman. [volume] (Austin, Tex.) 1871-1883, 1879-02-06
Market Reports.
OFFICE OF FORSTER & Co.,
BANKERS, AUSTIN, TEXAS,
February s. 1879.

Though there are no very active in.
| dications of large improvements in the
volume of business, there is fail
trade done by our wholesale houses
| aud retail trSde is considered good.
At this season of the year business is
always more or less restricted by the
inclemency of the weather. by the re.
duced stocks of all kinds IF goods
which merchants are now replenishing
for an active spring trade.
The market for cotton was active
during last week. The best grades
were "gobbl d up" eagerly by every
buyer at full prices, which were stimu-
lated later on by a hardening Liver
pool market which comes to day at
3-Sd for upland and LA for Or
leans. All other markets ruled finn,
light offerings. Ia New York a
speculative demand from Wall street
as we'll as somewhat limited receipts
helped the upward tendency of the
staple. so far the receipts of the crop
of 1S7S-79 up to January 81 amounts
g. 1863, TAO bales against 3, III, 74l bales
Tor the same period.
The future of cotton looks cert family
more encouraging; fluctuations are to
be the rule, hut Inc pronounced ten
dency is to better prices. The now
adverse influences are passing away,
gradually it is true, still they e pass
ing. Our exports to Great Britain are
N arly as large now as before 1861. Eng
land must have American cotton, and
even 5000, 900 bales are readily absorb
cd and larger crops will be made from
year to yesr. Our market is firm at
the following quotations: Seven cents
for ordinary, Z 1 &c for good ordinary,
z Lee for low mddling ard Z 3-4c for
middling. Higher grades being s 1-2
to s 8 4c, the latter the bsstJ cotton
from fredericksburg.
In this connection W. want to draw
the attention of our merchants to
the fact that the iudicious in
vestment OF a comparatively small
amount of money in repairing
the Fredericksburg road has paid Aus
TIN already largely in the receipt of
cotton, which, otherwise, would have
gone to San Antonio fer market.
The lesson is too practical to need any
further remarks, tut, in order to make
Austin The most important cotton mar
ket of the interior, we need a cotton
compress, so as to bring foreign buyers
here AID induce farmers from a dis
lance to market their cotton here.
Shipments from Austin since
September 1, 1878, to Jan
uary 81, 1879, bales. ...... 19,942
from T.
ruary to February z, 1879. 254
By Houston aud Texas Gen.
tral, do. 391
Total bales to date. ..... 90, 5s7
Little was done in wool and bides;
the latter are firm at l2c for dry flint.
Corn is again higher, retailing at 90
10 Csc, with. smaller supplies. Oats
are firm at 400. Wheat Is scarce at 75c
Flour remains unchanged. c flee is
tirmer and sugar on e., wi h good de-
mand from retailers.
The speculation in Chicago in all
hog products has raised prices of hams,
lard and bacon, but our market is
largely supplied with Texas bacon,
which sells very low indeed and is
equally as good as Northern bacon.
Financial affairs continue active and
money in demand. ID fferent securi-
ties are in the market all inviting local
capita lists to invest. United States
witness and jury certificates are selling
at 90 cents, ans bankers here have a
chance to shave Uncle Sam 5 per cent.
with absolute security. 1t is fair that
our own State pa bei should be little
lower than Un4Ie Sans, therefore
o. K: accounts thing bu; 50 cents and
pension certificates rs cents. State
warrants are quiet at 95 and SO cents,
with declining tendency.
The five per cent. bill now before
the Senate is very good measure, but
we still think four per cent. bonds of
small denominations better, besides a
part Of the deficiencies could be abb
sorbed in them.
Exchange is firm at - buying, ia
selling, on all points East.
Land certificates are frmer for
straights and internationally. Alter
mates are retslled at SIS and round
lots are offered lower!
FRAHcts Is. FORSTER.