Fort Worth daily gazette. (Fort Worth, Tex.) 1882-1891, 1889-01-16
ON CHANGE.
Spot Cotton Unchanged; Futures We're
From Six to Seven Points Higher.
Wheat Opened Unsettled, Irregular Through
out the Day, Closing at Small ADJ
vance-Wooi Unchanged.
Daily Review.


OFFICE OF THE GAZETTE,
FORT Worth. Tex, jan 10, 1SS9.l
The intervals of good weather with
which Fort Worth is favored occasionally
these days, serves to unearth one import
ant fact, that there is an under run
ming tendency toward heavy
trading that only awaits an
opportunity at the proper time to
break forth and put business on boom
in this market. During the hours of the
day, when the sun was not covered by
the clouds, the places of business were
filled with customers who had sloshed
through the muddy streets to do their
buying, so eager were they, and dealers
say the volume of purchases is heavy.
Wholesalers report a better business than
the time of year and the conditions of the
weather had led them to expect.
Ramie culture and manufacture, which
have long been desired industries of the
South, but which for lack of feasible
process have never received much atten-
ton, are likely soon to come into prom
inence, as a process of the simplest pos
sible character has recently been discov-
cred by a gentleman i'll Charleston.
Ramie is manufactured for use IN fine
domestic goods, linens and similar cloths.
The available balance in the federal
treasury is now over SCI ZOO, COO.
The overland movement of cotton in
December was 204 ,459 bales, as against
25I ,729 in 1887, and since September l,
1888, COZ 1876 bales, comparing with 708,
III i'll 1887.
The Norwich national bank, probably
the oldest bank in the United States, has
gone into voluntary liquidation. Had
the bank remained in existence five
years longer, it would have been one
hundred years old.
The price of iron and steel beams has
just been reduced for the Eastern trade
from $40 cents per pound to $40
cents per pound. The consumption for
the current year is estimated at 100 200
tons as against * 900 tons in 1888.
Mr.. c.. r. Makepeace, a leading mill
engineer of Providence, in letter to the
Manufacturers Record n short time ago
on the South's advantages for cotton
manufacturing, said:
The mills of the Southern states possess
a decided advantage over the mills in the
North and Great Britain in that they
have the raw cotton at their doors, and
that this alone represents q money
value sufficient to give them con-
troll of the coarse goods has been
fully demonstrated within the last ten
years This difference can be more
clearly shown by the following Illustra-
ton: Let us assume a 40, 900 spindle
mill located at any well-selected site in
the cotton-growing section of the
Southern states. This mill, properly
equipped with the latest and most APP
proved style Of machinery for the manu-
facture of standard "A sheetings to Nos.
y to IA yarns, would cost complete
$500 900, and would consume 20 900
bales of cotton per annum. 1t is
variously estimated that the difference in
cost of a bale of cotton-490 pounds-be-
tween the mills in Augusta, Ga, and
Fall River, Mass , is from So to Sc per
bale. Assume the lowest estimate of 81
per bale, and You have 20 ,000xS4 equals
$50 900 in favor of the Augusta. mill, or
a saving of 10 per cent. on the complete
cost of the mill III cotton alone.
PLENTY OF MONEY.
There is great deal Of money in the
country The increase in deposits as
shown by the bank statement Saturday Is
enormous; unless we are mistaken, they
are the largest known in the history of
the associated banks of New York. 1t
shows that there is money enough in the
country, and that it is centered in New
York; that there is an abundance of
money awaiting investment. 1t is not
awaiting speculative opportunities, but it
represents the results of accumulated in
vestments and is ready to be put into
good securities From 1887 to 1888 there
was no increase at all in the amount of
deposits, while loans were expanded
nearly S12 900 900. But in the past year
the banks have gained very nearly $40,
600 900 in deposits, while the loans have
increased only $50 900 600. A large pro
portion of these surplus deposits will find
their way into railroad securities as soon
as capitalists feel assured that railway
managers are determined to make their
properties as profitable as possible =
Wall Street News.