The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-12-10
THE BUSINESS BAROMETER.
An Index to the Condition Of Trade
Generally.
MONEY ABUNDANT AND RATES LOWER
Banks show . steady increase IN
Dep0sks-COtton Seed Oils Very
Low-Notes Of the Trade.
Office Of The Post,

1OuSt0n, Wedns,s1ay, DeceHpeT "
The change In the general financial con
dit.ons OF the country during tho pas
five weeks has been very noticeable. ii
October 1t was practically impossible Il
obtain looms on the best class OF collat
eral. Now money Is abundant. the batlk'
show a steady Increase In deposits Whit
loans are easily made.
Money rates. which during tho month
OF October reached an abnormal level
Huctuating from day to day sometimes
as high as 30 per cent and rarely lower
than 10 per cert, are now quoted at per
cent for call and from to per cent for
prime mercantile paper. Money IS. as n
matter of fact n drug on the narkct.
London. to which the American financial
market n short time ago looked for re-
lief. IL now a borrower. The Bank Of
Engand's discount rate of per cent.
forced by the movement of gold 10 this
country. has been maintained by the state
of interna tional commerce which gives
the United States favorable balance sell
dom II ever before equalcd In the CONNER
cMl history of the country. and by the
fiscal operations of Russia.
According to the Chicago Records hnan-
cial review the steady demand for gold
pcslts recently Withdrawn from France
are not being allowed to remain IN Lon
don. but are being taken from the market
by purchases of gold as II arrives from
South Africa and other quarters. and be-
fore 1t can be turned into the Bank OF
England. The fan In Kafiirs on account
OF the decreased production OF the Rand
has further impaired the British spccu-
lative markets. London has for some time
been borrower n ths country on long
sterling exchange, which accounts for the
firmly maintained rates, and unless soma
relief is afforded tho stringent foreign
money market II Is asserted by the most
competent English authorities that Lon
don VIII be compelled to seek advances on
AMERICAN securities or sell them. IT l. "A
remarkable commentary on the change of
monetary conditions that money which
loans cal stocks IN Londoa at q per cent
commands only per cent n New York.
Cotton Seed Products.
Texas oil mills continue To report II cool !
demand for cotton seed meal and cake at /
the recent advance. Prices on these prod ,
ucts arc Si75 per ton higher than at THIS |
time laat year. henE quoted at Sli.25n
l5.76 Al interior mills according to iorl-
Ton, illS. on the oihef hand, show fur I
thor weakness and prices are 3d3tsc lower
per gallon than on this date last Decom-
Ger.
In reviewing the market for cotton seed
~, the Williams a Flash company of l.
NcN YORK snys, "lhcrs 81 no particular
mango IN the oil situation sine our LAST
"port Lard aid Ltliuw both Ccntinue
weak and dull. and this weakness with
NJ lower prices ruGng tor these art c,cs.
IS hr, rnfcctei In cotton seed oil, ,
when uas declined to 2ic for prime sum
ner yet 1w, wh!oh tx ~ ihtu 4 sent Il gal- ,
on 81 the loves, nguIc reached ddtiug
'st summers eNtre M dullnc.s and fuau-
ial a. pr esion.
"1hc most discouraEiuF ftalurc is TINT.
Vrn AZ ths proc. there * no improve
nent In the demand either for homo CON
himpiion or shipment to Europe, but .his
- not g. hr wondered at when We con-
iher That me principal out'-t for on IN
ms country rs for compound lard. AID
i the present low prl,, for pure lard
ne sal" of compound rs ne esBlrliy N.iy .
es'rrud, VIII le, rs rcgirls "a Earoprli
l Taull the cont nur ! decline OF Eugil.h
~ (which today = at parity of sufnr .
'rnts gallon hollow Americana k.nu.
he foreign huyrrs ont OF the market for
my considerable ,ois
ON tn other baud. the low prices row /
nl ng for oil must rrlucr th. oufput anl
o2her tr later ctusr "a falling off OF r. !
ops ana ouer4. 1ad w. can NOT but e.
mink that while ms luluo.4 nGd work.
less may prcVul throuAu this month /
'rccs are al or notr bottom and that I
my de IL i chang" WI, ho g me nature
" an improvements /