The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-02-14
MONEY AND TRADE.
yesterdays MARKET SITUATION.
Cotton More BuOyant but Highor-DallAs Receipts
and Shipments shce September General Gre
0sries aud Provisions stsady-Trads 40.
,tlVe-TLs.PnanoIal Outlook Etc.
DALLAs, Friday Ailarnoon, |
rahruArV IN. Lam.

February 10, laaO, \
The course Of trade Is still onward and up
ward. There was no dmInltlon from yostor
Tdy's gross sales or the day before, remarka
Vsf for tho heaviest In several weeks, The
excellent cool, braclng weather, dry condl'
ton Of tho roads, and tho easy situation Of
the money market have direct tendency and
do keep up tho spirit Of mercantile pursuits
in liza every ramincation, 10 say nothing Of
The demand for mechanics and all manner Of
laborers and tho increased wages they arc
being paid.
Corn Ia firm, with some dealers demanding
an advance over the quotations below. Yet
'as the bulk Of sales were made to-day upon
them they ARE allowed 10 stand.
There 10 better timo In tho coffee market
ana former rates moro freely ruling. The
stock on hand WINS increased by tho rocopt
OF four car-lOads In ono consignment.
Meats are In ample supply and steady ut
n for bacon clear sides. The consumption
10 still slowly increasing and will do so Ms
warm weather and farm work progresses
The general grocery market N somewhat
stronger with many staple articles looking
bulllsh, There Ia nothing among them that
appears the other way.
Iron Is held firmly nj tho extreme and OK
'traordlnary advance. Toyas merchants now
in New York write homo that tho top
has not been roac ed-that tho demand
df leagues ahead OF the production of lumn.
cea, with holders indifferent about making
aAlc0, even NJ the present high rates. Tho
boom Ia explained by Tho generally run
down condition of every manner of iron inn
plement, machine, and vehicle that emerged
from tho seven years panic and depression,
and the backwnrdnoss Of railway building
during that time Old and worn-out articles
are being thrown aside and now ones taking
their place, whilst tho work Of constructing
nov railroads and repairing OLD ones WINS
never more active In tho history Of tho
United States, All this makes heavy draughts
upon the manufactured iron, upon steel and
upon every article into which they enter
Tho rapid and heavy advance re-
Gently made in the price of cot
ton is firmly maintained II
hears superficial indications of reading still
higher prices, That it is remembered that
IL commanded 30 and 40 cents per pound
tlfteen years ago, and that Mt 81 per pound
It's cheaper than anything that has been pro-
uucou WIN Wnlcn 10 clotho the world cheap
or than silk, wool, fax or the skins of ami
mals from which garments are mado-tho
present rates Of II to l2S cents do not seem
in the least extravagant Nor would 20 !
cents per pound furnish any reason for great
'astonisbment.
"A singular as Il seems there is moro dan
ger to us in its reading that price than going
below, where il is now; for, in that case, 90 |
cents per pound, we would quickly abandon
all erJrts TO revive anything else and
Bpond all our energies on cotton. Horses, |
mules, CATTLE hogs sheep, goats,
grain, vegetables and fruit would be neglect |
ed in their production, bought from other
States, which would more than require all
our cotton would sell for, and remit our
farming Industries once more into bankrupt |
cy, as was the case in lS66-'69, and with the |
"all cotton and no corn" farmers, banks and |
merchants went down in one common ruin
FINANCIAL
The weekly cotton statement published |
herewith shows the net receipts 10 have been
H,120 bales and an increase o. 1856 bales
over last season. II also shows the disburse-
merit from Dallas Of $4,000, 900 for this one
sricle alone. Dealers are still. confident of
the gross total reaching $4,000 bales at the
end OF the cotton year, which, added to the
cash paid out for other things, will foot up
100000 distributed through the country
tributary 10 Dallas.