The Waco daily examiner. [volume] (Waco, Tex.) 187?-1888, 1882-01-27
FINANCE AND COMMERCE.
Yesterdays Quotations ana
state of Trade--Misceiihne-
ous Commercial Matters
rngnERHIAI
COMMERCIAL

EXAMINER OFFICE, January 90
To-day decided change for the better
in the commercial atmosphere OF the
city is noted. The frequent CLEANS OF
sunshine seem to have infused conh-
idence when yesterday all was despon-
dencv. A telegram announcing con-
siderable rise in cotton caused general
caucnsinp together of dealers, and pre-
dictiops of wonderful sagaclty were
made. None were surprised. Unfor-
, tr1l.atelv there was little cotton IN for
| the enthusiastic to scramble over
/ Everything seems to promise amend
ment before the week is over. A small
/ iobbing trade was all of especial interest
| in trade circles to-day.
As may be expected our quotations to-
day, of cotton and grain, are almost en-
tlrelY nominal.
The south in taking a new industrial
departure, should not overlook two mat
tiers of great Importance, viz: greater dl-
versity in agricultural production, ami
an abandonment of the pernIc1ous sys-
| TEN of heavily ni0rtgaging the future by
an abuse of the credit system. There Is
| no good reason why the southern farmer
should not continue to obtain his butter
from the east, his hay, bacon and mules
from the west, and then tell the world
that farming don't pay III the south. The
fact is, he don't know what farming Is.
He has too long had cotton on the brain.
WHAT WE PRODUCE IN RAW COTTON.
While the United States produces
about four-fifths of the raw cotton of
tie world, it manufactures less than one
sixth of it. There are l0,9O0,OOO spIndles
IN the United States, against 4O,O0u,ut0
In Great Britain The United States ex
ports in a year S10,00O,OO0 worth. The
United States ought to make better
showing than this. True, Great Britain
has the advantage IL cheaper labor, and
capital. and Il century IL experience, but
these ought to be upset by the smaller
cost of the raw material and unlimited
water power, to say nothing Of our pro-
tective tariff.
Eighty-six national banks were Or
ganized in the United States during the
past year, with a capital of between S.
0O0O0O and $l0,000,000. This Is the
largest number established in any one
year since 1872. Twenty-siX were dis
continued. National banks are IN ex-
istence in every state except Mississippi, |
and in every Territory except Arizona. |
The total number Is 2,5Sl.
Last year 1I3, 400 shares of stock, $685. |
100000 OF railroad bonds, and SS6,363,O0O !
of state and government bonds were
dealt in on the New York stock ex-
change. Allowing one-eighth for each |
100 shares of stock, and the same for |
each $4,000 of bonds and we have to- |
tai of 81, 766, 700 paid as commissions to
that peculiarly American institution, the
stock-brOker
Texas and St Louis Railroads.&c.
scription, s10,0O0,000; 20 per cent. paid
in. Another installment (No. = of 10
per cent. is called from the subscribers,
payable on December u. Line Of road
in two divisions marrow gauge, Texar-
kama to Waco and Cairo to Texarkana,
connecting with Cairo and St. Louis to
East ST. Louis. Subscribers will get
100 per cent. first mortgage bond, 80 per
cent. incomes and 50 per cent. stock.
Price 50 to S11@.