Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1883-12-29
wha, duilcr The receipts of grain were no,
quito 80 light.


whatever may be expected nom the contem-
plation OF Russia some tune in the dim NJ.
turc, thcrc is nothing In the present 90 excite
much approximation. Tho total exports in
October were tS.s.6,aso gallons, valued ~ ST.
ssi,sio. against is.sss2i gallons. valued at
sl,oci,sa FOR the corresponding month last
year. nn increase OF nearly Scp,oV gallons In
quantity and about $4,000 In value. For the
ten months ending octebersl The exports az.
srcgaied nSeetSs galioos valued NJ Sao2l,.
So, against iSs is7,S)t g,llons, valued At SsS,'
Sds, 90 tor the corresponding period OF last
year, an Increase OF over ii,oosooo gallons In
quantity and OF 81 ,s62.Ooe IN value,
COTTON NovEsNNr
The clnclnnsti Price Current says; "rhe
| course of recent cotton movements Inns had
avery depressing effect upon the markets,
the port receipts being las, week the largest
| ever known, and following week of receipts
only rev Thousand bales less, and nca,iy
equal TO the largest weeks receipts last year,
while tho export movement was compare
lively small, results In u further accnr,uln-
tion OF stock In this country which staggers
| the iatih In extremely high pr.ccS, 80 thnt In
stead OF u material advance In rates current
for cotton for forward delivery there has
been consldei able decline, but the fact that
under such depressing influences the decline
In spot cotton has not been larger indicates
that there Is an undortone OF confidence In
| present values. In fact cotton IN not high; It
| Is lower than u year ago and much lower
than the average price FOR season OF years.
The port stocks arc now $4,000 bales larger
| than % year ago and 5000 larger than two
years ago, having Increased lea,ool bales dur.
Ing tho week
The amount OF this crop Of cotton which
had come into sight on pccoinbcrii, estimnt.
| 10y the overland movement ami southern
! consumption sinco December l, couparS
with the corresponding time durin. the two
| years preceding as follow;
| 1881 1854 1881,
Fort rceoinis s.pds.lid ap0i,sdi ssndi'
September IT,. No,co sa.o.s tM.iii
| Overland not. ,...,.,. aS,Ol yso,O.n Ms QUO
southern onsption. loS,@o io,.otn s',ca
Total bales JSo,liB s,O0a,,il Gsfi,jtS
THIS indicates TINT S5isW bnlcs ot cotton
came into sight nom the plantations during
the week, aud there Is now a gain over last
year OF 1874 bales, aud over two years ago
OF 1924 | bales,
nARNISes OF CArirAi.
There are many Indications that the com.
! mcrclal situation Is not so bad as n Il goncr-
ally represented 10 be by the parties IN inter.
| est tits true that there are numerous mc'.
camille failures, but these We always have tn
n greater or less extent, and they are not
moro significant NOW than Ia many past sea-
sons some Misunderstanding establishments
| are closing Tor a season OF and repairs,
which ~ not an unusual course 60 pursue ~
this tlmc OF the wear, but others arc taking
advantage of the low prices of raw material
and other favorable circumstances for
chcapcned production. aud are continuing
| 90 turn out fabrics which eau hc sold
NJ moderate pr0ni, which Is much
better than to enforce idlcncss upon capital,
plant md labor. Thus tho Western nail
manufacturers hnvo Cor months beon con.
tempmting, or ut least threatening TO shut up
shop for "a month or siN weeks, bat ~ their
meeting on Wednesday, December o, they
conclude not TO do 30, Notwithstanding the
fact that nails have declined so cents per keg
during the past few months, Tho fact ls that
well managed manufacturing establish
incnts are making reasonable proftS-not As
large ~ they did il lew years ago. when com.
petition wac much losa, but probably ~ large
u pcr cont OF return upon the capital en-.
ploycd as could bo obtained Ia amy other
branch OF business. Tho enormous
Increment of capital la this onun.
try during tho last decade has
brought down rates OF Interest, mud incident.
ally margins of proat In all mercantile OPP
crations, "a result which X the logical sc.
quonoc of the increase In wealth. Thus the
advantage OF capital over labor has bocn ma
torially reduced, l<,llos, ia his treatise on
Labor and Capitnl." estimated TINT two per
cent. per annum. ms the g,in 0f eapiinl. was
equal to the compensation which labor ~
ccived. This was from an European stand
point many years ago, but the relations of
capital 80 labor ~ this country has never
been the snlIse AS there. although tiley ap
pear 10 be gradually approaching similar
condition. Labor. whether skilled or
otherwise. is relatively better paid ia this
country thnn In Europe, ana therefore
II 2 per cent h a relatively equal tomunora
ton for capital there as the curront rate OF
wages ia for labor, II follows that capital ~
this country would be entitled 10 a higher
rate 10 make IL relatively equal 20 componsa.
lion which labor receives here, but how
much higher n dinicu,t 10 determine 10
seomE, however, that n II not Ia bn expected
that profits upon capital employed In mcr-
enutiic operations viii yield ~ Large returns
In the miure ms IN the past. whom this met
IS recognized II VIII modify the attempts 10
do business without adequate capital aud
thus the mercantile n,iiures viii be reduced.
Cotton.
The market was active. The quotations
scTs ns iUilOwG
Jopd miuulng w
strict '''.'' ns