The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-08-01
THE BUSINESS WORLD.
COMMERCIAL.

DALLAS, July 3l.-The month of July
closed on q blue scene in the trade field
Wool and hide receipts have fallen away to
the minimum and sale OF goods are smaller
In natural ratio. The wheat crop moves
sluggishly and has only family mended un.
der the better feeling north and east. The
story is distressing, tell it as
one may, of this cruel drouth that seems to
be without limit of duration or extent. II
commenced weeks ago and the brazen fury OF
the sky Is undated still. Cloud come up,
thunder rolls and heavy drops la4 Oh the
thirst ground, and after all it proves a tan
talizing deception. Farmers of Dallas
county and other counties in this dis
trict, who were in the city to-day,
reports young bolls and forms being Gust
under the all whitening influence of this
Gfouth. If good rains come in August, and II
no early frost falls, then we win have a good
trade season, on It's opening. the above ifs
are realized all will be well, and ON the other
hand " We grt 1901 rair ln august, an early
frost will not injure ANYTHING.
One Of the effects oi such restricted mar
ket as we now have in the Stock Exchange,
OWNS To IN" ai S nee Of the public, is the
r.fHrg, SCI Cas- FitiI which II can B. uu'.l-
pulated because the business being done ~
a few stocks comparatively speaking, II thrr.
or four of these can be thoroughly cliqued, n
becomes an easy matter to rush them up
The bears cannot sell them very wei, be-
cause they are difficult to borrow iordelivery
being all collected in "A few hands, Inc
trying time comes when having col
lected the stocks IN this way, and bid W
the prices with great rush, the cliques tnrI
round andt try To sell. Three or four times IN
the past two years Wall street has seen this.
and the .aIlilr which -~"s fr't started eau
tiously become myre rapid, and finally end IN
RcOmp.li. .Oui, tiie aelnbyrS III the pools
throwing over their stocks for any price they
would fetch. Such was the experience last
Eun hon no maj hot IA
and when the selling out came to be done
there followed one of the worst breaks We
have seen in Il long while. Mr. Could how
ever, who had engineered the rise,
started to sell out his line somewhat
earlier than the others, as is his custom, and
when the break came he was out OF the way.
Nevertheless IL went 81 last and so Tar INA
IL broke down his Western Union and Mis-
souri, Pacific, OF which he has heavy
amounts carried ON loans, and in the AT
tempt 10 hold the market he was so seriously
hurt that Wall street began 10 question very
seriously his staying powers. He has turned
the sharp corner again, ana the prcSch
market will enable him TO recoup lnrg'
amount Of his former losses There Is NJ
mistaking his guiding hand In this move
mcnt, and v vs. reasonable To SuppOsr, irOir
past experience, that the rush will be kept up
TO the very last extremity, until the market
finally exhaystS itself and can go no higher.
He will then he found to have sold out and
be rCady for trip Of pleasure and recreation.
The bulls had o day Of II on this, the closing
Of July. a Dallas veteran trader in stocks
declares that the bears having made fortunes.
are summering and that the present rates
will dissolve on their return. Northwestern
gained cents on yesterdays close, closing
to-day at 1857. Western Union gained l@s
PEI cent and closed at CHS.
GRAIN ASD BREADSTUFFS.
The winter wheat harvest east Of the
Rocky Mountains ends this week. In the