The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-06-08
COMMERCE. AND TRADE
COMM KCIAL.

COMMERCIAL.
DALLAS, June I'm the last few days several
prominent grain and commission men from New |
orleans have been in,the city arranging iorshiP
ments OF grain to that city, Instead oil sendinB IL
ST Louis where the great body oil cereals ron
this state has gone in former years III lnis
connection the picayune has the i0llowlhg. We
have frequently called the H.e"'i ,ha VI or r
inquiry to sell and the active oeina si,.o, ~
buy red rust-proOf oats. me eontiag,s |
thus far made for Juuc and Jnly uenvetles
cover about 200, % bushels, These contracts
nre nov maturing, and some deliveries ON
them hive slrc,dy been made. There were
several large sales yesterday, Out to-uay oq,
Cured the champion deal thus lar TINS season, ~
consisted of fifty carloads, purchased by that
enterprisIng grain dealer, Mr. John I, GIBBONS,
on a contract for June delivery NJ DC per
bushel. The sellers were the commission urn
of Messrs Glover Il Odendahl. II the crop gen
oroliv Is 10 be Judged by the samples thus inrre-
ceiyed, TOO much cannot 10 said IN praise oil its
quality. We have seldom seen oats cleaner OF
trecr from mixture. an, ,,
The following is also interesting at this Time
taken from the proceedings Of the New orleans
Produce Exchange ,.,.,.
"uayiup been called upon to make certain eN-
plantations, and ruling as TO whether, uiiueT
The rule of the Exchange, Texas red ruslprooi
oats are deliverable on contracts for NO
oats, the secretary W. NJ Smallwood re-
sponded as follows Mt the cali board to-day;
liputlemeu--On kCVtIal OcChhlOub lcVchNis
have been called upon TO explain why, after
having called the market on No. oats, make
further call of Texas red rust PROOF -oau IN
the same connection | have also been called
upop 10 make ruling on the delivery OF rust
proof oats on II contract for No. oats. The rules
Of the exchange prescribe the following grades
of oats In this market;
No ITO be pure sound and well cleared
No. ITO be reasonably clean ana mercnuht-
able
No. Norlhern--To be pure, sound aud well
cleaned northern oats
1nerchantablc northern oats.
No. White-To be pure white, sound ana well
cleaned.
No. 2white-To be puro white, reasonably
clean and merchantabo.
Reiected-An dirty, unsound and unnt for
Red Rust Proof oats--To DO sound, dry, rea-
sonably clean and free from mixture.
:. As you are aware the only grades OF oats call,
cd regularly are mo % andf'red rust proof
The reason for dividing the call has been that
Texas oats are not only sold Tor 'ieedihg pur-
poses, but later on In the season arc sold ior
seeding purposes, when II is not unusual for
them To command much higher price than
ordinary western oats
This severance In the call Is not only favora-
BILE to the Texas product but Is necessary %
meet the requirements of this market, There Is
often specific demand for rust-proof oats, and
the exchange has provided for such a grade N
order that contracts may take definitely tha
oats tenderabe on m ordinary contract fol
No. oats at the call boardg The rules declare
what shall constitute No oats they arr
simply 10 be reasonably, clean and mer
charitable" 1t Is not stated that they shall b'
western or Texas, or northern am clearly o
tho opinion that northern No. 2, or rustproo
grading No. q would be lenderable ON an ordi
nary contract for No. Goats II there Is any di
versity OF opinion on this subiet would sug
gest an appeal from this ruling TO the board o
directors for n revision of the same.
The foregoing Interpretation of the rules b.
the secretary of the produce exchange Is NJ
doubt correct and SO far rs We could ascertain
was acqulesced In heartily by the members. j
will certainly have the effect of placing ih'
Teas oat crop In an exceptionally favorable
position In this market and will be calculated I,
the crop this way"
From the above II will be seen that the estab
llshment of grain and produce exchange IL
this city is attracting the attention of grain deal
ers In other localities, and viii result in tn,
greatest benefit TO farmersin Texas and dealers
In Dallas. -
ON CHANCE.
Tho following named gentlemen were regis
tered as visitors on change to-day: Il. ii. Pen
dlcton, Farmersvillc; Charles Fred Tucker city
Robert H. Jones, New Orleans; j. A. Gray
Waco: A. NJ Rixie, Now Orleans; s. u. Thomp
son, Farmersville; George J. Dexter, city; Rev
DIR. Shuhl, city Richard Thompson, jr,, city.
SINCE the organization of the Grain and Pro
duce Exchange the transactions In grain hay
more than doubled what they ever were know
70 DO before In this city. The interest is increas
Ing among business men generally, and tn
grain. dealers aud commission men feel tina
II Is almost incumbent upon then
TO be at the board and take hand In the opera
lions. The sales to-day were larger than an
other day during the week. many of the mem
bcrs, however neglect TO record their transac
lions. Two cars ofoats, sacked, T. O. b. sold 70
rs cents cars of wheat next week. sold for
cents, and ears, next week sold Tor 90: car ~
May wheat spot was sold on p. g.; 80 pound
sorghum seed sold ON p. /, Other transaction
occurred which did not como under the notice q
the reporter There wer also several sales to
local consumption, to he delivered In the city
several parties were present eudcavorlng to cor
tract for oats next week, but the feeling was dc
cldedly bullsh, and IL there was any change |
prices, u favored an advance The telegram
from Chicago aud St. Louis stimulated this fee