The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-02
COTTON.

shipments to Europe to-day have been
| larger than for several days previous. The
next receipts, however, continue to fall
below those of last year. while the stock at
all the ports is over two hundred thousand
bales above that of a year ago. In this city
prices are nominal and without changer
! GOOD Ordinary ............. els
Low Mluunhg '''',.'. ACKNOWLEDGEMENTS. %
riluInns iii;,.,.''''' ''''' '''''.''.....,. l04
1000 mddllng Observation-Disclosures. 101s
Mluuline ltlt ....,............ l05i
The cotton market in Liverpool was
quiet at former prices, middlings, 81; Or
leans, 6 ll-l6; sales, 5000, of which 900
were for expectation.
| New York opened quiet and nominally
unchanged, was quiet and steady dur
ing the day, closing in the same
tone, middling IL 1l-l6. Sales, sos bales.
! The reports from New Orleans were
meagre, and only stated the market was
quiet.
Galveston closed firm, middlings, III.
Receipts, S6l. Sales, $50.
| The st. Louis market closed steady at an
advance of an eighth of a cent, middlings,
liz. Receipts, 1SS. Sales, 1872. Min,
ments, l,435. Stock on hand, Il, G6G bales.
The cotton movement shows the let
receipts to be 32,627, against 81 OBS the cor
responding day last year, falling Off of S.
AL bales. The exports to Great Britain
were 5000; continent, 1l,S76, channel
ports, LOO; France, 1886 The stock on
hand at all the ports was ,0G5, Oi6 bales
The Memphis Appeal of the 25th saws
Yesterday morning Judge Pierce cast n
bombshell into the camp of the bucket.
shops. During the absence Of Judge Hor-
rigan in New Orleans Judge Pierce has re-
celyed the reports of the grand jury. The
judge has decided opinion that the buck
et-shop transactions amount to gambling,
and that bucket-Shop is no better than a
rambling-hell so far as the law is con
cerned. 1t is understood that the grain sold
Tor future delivery is genuine transaction
at the bucket shop-at least there are print
ed contracts so declaring The cotton
transactions do not contemplate
the handling of the "neecvn
at all. During the year fully five hundred
thousand bales of future cotton are sold TO
and from in Memphis. The middemen
make large amount of money, probably
sixty cents TO the bale. The number of
men who speculate in futures, and who are
ruined by it, is very large. The shop never
loses. During the last few weeks the
amount OF money changing hands has been
enormous. The poor devils who hang
around the boards, us well as the respecta.
| Die church members who like little sly
! speculation, have all been screwed by the
remorseess tumbles. One of the victims of
bad luck, Il, b. Micou, has brought suit in
the circuit court against the Tennessee
brokerage association tor 81, 500 damages
II is understood that his actual losses have
been about 81 200. Judge Pierce, yester-
uay, sent Tor the grand jury and charged
them concerning gambling IN futures as
follows 10
GgYrLEMEN-You have been charged gen.
orally upon the law of gaming, but the
court thinks it proper to charge you spc
/ cially as to the species of gaming that has
come to the attention of the court through
the public prints and otherwise and that Is
wagering AS to the possible future prices of
products, stocks or other property, If n
person should make q contract to buy or sell
any product or other property at n given
price, to be delivered at future day. and
actually intends to handle aud deliver said
product or commodity, even if he had not
the. property in his possession, provided he
had reasonable expectation of acquiring
IT in time for the future delivery, this would
be legitimate business transaction. But if
u person makes q contract similar to that in
form, expecting in the end to pay or settle
the differences only, and has no intention
or reasonable expectation of ever handling
or delivering said product or property, this
amounts merely to n wager rs to what the
future price will be- and the court charges
you that this Is playing at game of hazard
or chance within the meaning of the law;
and is in violation of the law and should be-
presented by Indictment And anv
one who Keeps open place for
the carrying on of such transnc-
lions Is keeping. Clearinghouse within the
meaning OF the law, and is liable to indict-
ment therefor. This is q great evil in this
community and one which demands your
attention. You will, however, examine
with care the cases presented and find in.
dictments only where the same in your
Judgment can be sustained by the proof in
this court. -
THE cotton factories of Columbus
Georgia, have a capital Of 81, 06S, 900, give
employment to 1850 hands, and consume
l1,SSO bales of cotton annually.
On two small streams in North Carolina
there are not less than twenty cotton fac.
tories, aggrega,ing several millions of dol.
lars capital employing more than 3 900
persons and using 5000 bales of cotton pcr
year. fN'