The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-06-17
COMMERCE AND FINANCE.
COMMERCIAL.

DALLAS June l6.-In conversation to-day
with a well-known business man, a member OF
the Merchants Exchange, and leading Spit,
in all that tends to advance the commercial ail1
material prosperity, welfare and greatness OF
Dallas on the business outlook, we were gwen IN
the following expression OF opinion, winch Is
worthy the attention of the business conlliu-
nifty not only of Dallas but OF Texas geneiaiiy
"rhe trade and commerce of the United states
as indicated by the reports Oh the cie",,i u
houses In the most important cities IS not sa.is
factory, at least not encouraging many VI 'nc
most experienced and shrewdesi Droke,s on
Wall street have BEEN "reefing their sails and
advising caution" as they MINK tney Sc sec
signs indicating Il repetition of me pane OF ~
1t is pretty generally known That ,here mas eeen
afall of over per cent IN pig ne, u ha , nnst
of all the necessaries oflife, as is manifested ny
the restlessnoss of operatives III mines ana
founderies at the north. Those VINO look
an interest In such things In 1873 VIII remember
that prior to that panic there had been great
activity In tho iron interests--excessiyc con-
sruction of railroads, etc, and that the country
was rushing at II headlong speed uppaicntly
making rapid progress The wall street brokers'
then sounded the alarm, but no aventlon was
paid TO h and Tho crash came Let II be hoped
that this present apprehension is peg0tleh py
their fears, and that the country VIII not nc
called upon to pass through announcer sucn o,uenl
AT any rate, people in Texas should DC pruussn.
and avoid oyer.tradng aud too great extension
of credits and then should the storm break, we
may hope that 1t will spend us iotce before .I1i,
reaching this state. as was the case III 1915. WIN
our large ont and wheat crop harvesteu, our
corn crop almost assured and our hne prospg,cts
for cotton. we may congratulate ourselves, that
with ordinary prudence and caution, we nave
but little 10 apprehend from any disturbing
forces that may cause anxiety In the commercial
mind In other states of the Union
ON 'CuANGE.
No future transactions at Dallas Merchants
Exchange to-day. Spot transactions were very
light buyers and sellers beingslill apart BUY
ers demand of sellers concession Ill prices,
owing to uniform decline In the principal mar
kets of the country which is not granted how
ever the difference was only about TWO cents
per bushel, and AT one time only about one
cent stood between transactions involving III the
aggregate about twenty carloads of oats. There
was an offer Of 10 carloads, September delv-
cry; at 30 cents which was declined; There
were two cars spot Mt II IA TO Al H.. The aver
ago price of spot wheat was 81 90. Corn, she'll
cd and Sucked. sl.l0 From wagon ear corn, 80
to9Ccents. Barley 60 cents. In st. Louis spot
wheat to-day declined gents, and In the last
three days the decline Ms been nearly seven
cents, having fallen from SLY to sl.2o IS. July
wheat showed to-day SLOT 6-S as against VI % =
yesterday. No quotations on corn; none offered.
Oats, Is bid decline of one cent since yes
terday.
The first case of arbitration under the luris-
diction of the Merchants Exchange of Dallas,
was disposed Of to-day. The following is the
a., DALLAS. TEXAS June ,ld, lss 81; In
broker "A for W, c. IlaSrpold ' vs., ":
G., Howard \ Co.. we the undersigned
OF the Merchants Exchange Of Dallas, by which
the contestants have agreed to abide, declare
the. contract void, by reason Of W. q. Harpod
falling to put up margins in due time, atterbeing
called upon for same, A OPpENuEIMER
THoMAsF MCEsNIs
This Is another Illustration of the utility and
benefit Of such organizations as the Merchants
Exchange In the transactions OF commercial bus
mess often delicate points arise, involving
different opinions from the parties interested
and the result Is often serious misunderstood.
ings. great Inconvenience and much pecuniary
expense. But by this mothod of arbitration CON
Quoted by honorable business men, agreed upon
mutually, everything has been amicably ad-
lusted, and the expenses of long, tedious court
legislation, ageregaling, probably III uSandS of
dollars, have been ayerted, and the parties to
the case are perfectly satisfied, without the
forfeiture Of honoro integrity, and ready for the
transaction of business with each other, which
would not have been the case but for this yalu.
able system of arbitration.
TEXAS takes the horns" on new oats at st.
Louis, as will be seen by the following. from the
81. Louis Republican: There has been an ar.
dent desire among the commission merchants tc
be able TO announce the arrival of the first lot o
new oats and the expectancy Of II has been very
confident but In two instances the dark horse:
came IN ahead. The first car-lot was received
yesterday by Messrs, George Shields 4 Co
which was rust-proof Texan product shipped
from Waco. and was sold on change at the pre-
MUM price of S. cents, II graded No 2
Messrs Redmond Cleary & Co, also received Il
sacks of the new crop from C. G. Wilson Il Co.
Terrell Texas, the first Of sacked of the new
crop, and for this they received IS 1.2 cents pei
bushel
TIL. past week has been grand growing
week for crops, particularly cotton, The warn
weather which set In eight days ago and ha,
continued unbroken, Is just what has been need
cd. The remark has been frequently made, unt
Is eminently applicable that you could alnos
hear II grow" The HERALD to-day received
the first cotton bloom of the season. II was ,
splendid specimen, and was picked from llol,
oitwenty-fve acres on the plantation of W. II
Wright two miles south Of Plano, In Collii
county.
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