The Galveston Daily News. (Galveston, Tex.), Vol. 50, No. 307, Ed. 1 Monday, January 25, 1892 Page: 1 of 8
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168 TO 196 COLUMNS
Bach Week; for 52 Weeks for $2 50
The OahestOB Sunday New® and Tbe Gal-
veston Weekly Kevin to one address for $2 50
year; for six months, $1 35; three months, 75
cents. The Sunday News has numerous special
features that make it interesting to all classes ol
readers, whilo The Weekly News contains con-
densed reports of the week's doings from all
quarters of the civilized world.
Subscribe through local agents or direct to
A. U. BELO & CO., Publishers,
GALVESTON. TEX.
TREMONT OPERA HOUSE.
TO-NIGHT, MATINEE TUESDAY AND TUES-
DAY NIGHT.
THE PEERLESS
GORIHNE!
SUPPORTED BY THE
Kimball Opera and Comipe Burlesp Co
CA81IEN UP JO DATA.
FRIDAY-THE TWO SISTERS.
We have withdrawn our Travel-
ing Salesmen and will continue to
sell from Stock only.
Over £200,000
DRY GOODS,
NOTIONS,
11
BOOTS, SHOES AND HATS,
Lately owned by Weis Bros., must
be sold
REGARDLESS OF COST
A3 this businesss will be closed
soon as possible.
TERMS EASY.
Correspondence solicited and in-
formation cheerfully furnished by
mall.
THE EALVESTDS
CO,
A GOLDEN OPPORTUNITY.
A successful business of 20 years' standing is
now offered for sale in bulk by J. cfc S. Koppol at
Austin. Tex., on account of sickness. The amount
of stock is $30,000, consisting of Dry Goods, No-
tions. Clothing, Hats, Furnishing Goods and
Trunks, at reasonble terms. Address
J A 8. KOPPEL,
Austin, Tex.
A. & E. F. McGOWEN
IRON AND BRASS WOKKS,
HOUSTON. - - "jTIZirsr
INDICATIONS.
Washington, Jan. 24.—For eastern Texas:
Generally fair, variable winds, fair till Tues-
day.
WEATHER SYNOPSIS-FORECAST.
Galveston, Jan. 24.—The following daily
synopsis of the weather and local forecast are
furnished by the official in charge of the
United States weather bureau at this place:
An area of high pressure overlies the south-
ern portion of the country to-night and isobars
slope evenly to the northeast and their trend
in nearly parallel from southeast to northwest.
The temperature is generally high; the low-
est on the map is 30 below zero at St. Vincent.
Clear settled weather prevails, and there are
no indications of any decided change during
the next twenty-four hours.
forecast.
Galveston, Jan. 24.—Local forecast for
Texas east of the 100th meridian for the
forty-eight hours ending at 8 p. m., January
26; Fair weather: slight change in tempera-
ture j variable winds becoming southerly.
Weather Bulletin.
Galveston, Tex., Jan. 24.—The following
stations report current temperature to-night
at 8 p. in., 75th meridian time, as follows:
Abilene, Tex., 58; Atlanta, Ga., 48: Bis-
marck, N. D., 34; Brownsville, Tex., 52; Cairo,
111., 48; Charleston, S. C., 52; Charlotte, N. C.,
48; Chicago, 111., 32; Cheyenne, Wyo., 46; Cin-
cinnati, O., 38; Corpus Christy Tex., 52;
Davenport, la., 3G; Denver, Col., 52; Dodgo
City, Kan., 48; Duluth, Minn., 44; El Paso,
Tex., 54; Fort Assiniboine, Mont., 56: Gal-
veston, Tex., 50; Huron, S. D., 40; Jackson-
ville, Fla., 54; Kansas City. Mo., 48; Little
Rock, Ark., 54; Memphis, Tenn., 52; Miles
City, Mont., 34: Montgomery, Ala., 52; Nash-
ville, Tenn., 48; New Orleans, La., 56; Nor-
folk, Va., 46: North Platte, Neb., 32: Omaha,
Neb., 42; Oklahoma City, Ok., 54; Palestine,
Tex., 52; Pensacola, Fla., 50; Pittsburg, Pa.,
38; Rapid City, S. D., 50: Santa Fe, N. M.,
36; San Antonio, Tex., 56; Shreveport, La.,
60; St. Vincent, Minn,, 30; St. Louis, Mo.,
48; St. Paul, Minn., 38; Toledo, O., 38;
Vicksburg, Miss., 60.
A Cowardly Deed.
f Weimar, Tex., Jan. 24.—On Saturday night
between the hours of 9 and 10 o'clock, as a
■well known negro named Neal Shaw, who has
been living here for some time, was shot just
below the right shoulderblade with what ap-
pears to have bean a pistol ball of about 45
caliber.
Neal was in his own house and the party
who attempted to assassinate him was in the
street and shot him through a window.
The person who did the shooting was sup-
posed to have been on horseback, judging
from the range of the ball and the hurried
horse steps which were heard just after the
shot
As yet there is no clue to the perpetrator of
of the deed. The wounded negro is badly
wounded and it is doubtful whether he will
recover.
A Texan Suicides.
Fort Wayne, Ind., Jan. 24.-—Howell Brown,
ft prominent young politician of El Paso
county, Texas, shot and killed himself this
afternoon in the presence of his young wife in
the house of his father-in-law in this city.
Brown came here with hjs wife in search of
health. When the inquest was held Mrs.
Brown claimed to know nothing of the cause
which led to the suicide, but in the dead man's
pocket a note was found, which accused her
of infidelity.
Brown was 33 years old and prominently
connected in Texas. His father is the clerk
of Travis counts. Tex,
P3flTAWT.TSiren IM7iJ
J. I MORRIS' SONS
HARDWARE, STOVES, MILL SUPPLIES
-J 01 U i LU|
AGENTS FOR
Brinly Plows, John Deere Plows
VOL. L—NO. 307.
GALVESTON, TEXAS, MONDAY, JANUARY 25 1892.
ESTABLISHED 1842.
47,49,51 MAIN ST„ H
MILLS DECLARES HIMSELF.
INTERESTING FIGURES CONCERNING
FOREIGN 00MMER0E.
Balance of Trade Large On the Right Side.
A Bill for Free Lumber—Wash-
ington News Items.
Washinoton, Jan. 24.—[Special.]—Mr.
Mills confirms the reported relegation of
himself to what ho calls a place in the ranks,
and says it has been done with the view of his
enjoying more freedom of action when the
discussion of the tariff begins in the house.
Ho does not approve of Springer's pro
gramme and his intention is to antagonize it,
A Washington paper prints the following:
Representative Mills was seen by a reporter
in the lobby of Willard's last night and
asked:
"Is it true that you intend to push a general
revision of the tariff in opposition to the plan
proposed by tho ways and means committeo?'
"I am but one congressman in tho house,'
replied the distinguished gentleman from
Texas, "and represent my constituents, to
whom, and not the newspapers or anybody
else, 1 am responsible. T propose, in so far as
I am able, to see that tho democratic party
fulfills the pledges it made when it went to tho
people at the last election. I reserve the right
to move to amend any bill as I see lit, whether
that bill bo introduced by Mr. Springer or
anybody elso, and you can say for 1110
further that I do not propose
to consult either tho newspapers
or David B. Hill as to what amendments I
shall offer or how I shall vote in this congress.
If tariff' bills are introduced and they do not
agreo with my ideas of democracy, I have tho
righL as has any other member of congress,
to offer such amendments as I see fit, and that
right I will certainly exerciso."
When asked point blank whether I10 would
insist on a general revision of tho tariff as
against the introduction of bills relating to
specific articles, Mr. Mills declined to say,
only replying with emphasis that ho would
amend as he saw fit.
lie view of Foreign Commerce.
Washington, Jan. 24.—[Special.]—The chicf
of the bureau of statistics, S. G. Brock, has
completed his compilation and review of tho
foreign commerce of this country for 1891.
The figures are even more astonishing than
thoso which have been coming from this
bureau for several montlis. October exports
exceeded those of any provious month in the
commercial history of the United States.
November went $10,000,000 over October, and
now December goes $10,000,000 beyond No-
vember, reaching the enormous total of $120,-
000,000. The year's showing is $200,000,000
ahead of tho yearly average for years past.
The imports show a healthy increase, but
the balance of trade is larger than before on
the right side. Major Brock's review, which
has gone to the secretary of the treasury, is as
follows:
The imports of merchandise during tho
month of December were of the value of $69,-
444,655, an increase of nearly $9,000,000 over
tho value of tho imports of December, 1890,
and about $13,000,000 greater than tho average
value of imports for the month of December
during the past ten years.
The value of our imports of merchandise
for the twolvo months ending December 31,
1891, was $828,312,646, an increaso of about
$5,000,000 over tho value of imports for the
twelve months ending December 31, 1890,
during which latter year our imports were
groatiy increased, because of tho unusually
large importations in anticipation of the en-
actment of the new tariff law. The averago
annual value of our imports for the ten years
from 1881 to 1890, inclusive, has been $701,-
862,430. It will thus be seen that our imports
for the calendar year 1891 exceeded this aver-
age for the ten yoars by tho sum of $126,-
450,261.
The value of our exports fox the month of
December, 1891, attained to tho unprecedented
and remarkable sum of $119,932,532, which
greatly exceeds tho value of the exports for
any other month in the history of our com-
merce.
Our exports had never reached the value of
$100^000,000 during any month until October
and November, 1891, when tho values of the
exports of merchandise were respectively
$102,857,243 and $110,103,536.
The value of our exports of merchandise
during the month of December, 1890, was
$98,451,752 and in Decomber, 1889, $96,901,340.
By a comparison with these corresponding
months of prior years it will be observed that
the exports of December, 1891, were not only
very surprising but very gratifying.
Tho value of our exports of merchandise for
the calendar year 1891, was $970,506,282, which
is much in excess of
any prior teak.
The value of our exports for 1890 was $857,-
502,548, and in 1889 $27,106,347. It will be ob -
served that the value of the exports of the
last calendar year exceeds that of 1890 and
1889 by the sum of $113,003,734 and $143,399,-
935, respectively, and it has exceeded the av-
erage annual value of our exports for the ten
years from 1881 to 1890, inclusive, by the sum
of $206,653,150.
The increase in exports of domestic mer-
chandise, stated in tho order of magnitude of
value, was principally in breadstuff's, raw cot-
ton. copper and manufactures of iron and
steel and manufactures of cottou. There was
a decrease of oxports of provisions, mineral
oils, cattle and wood, and manufactures of
other articles of domestic exports and their
values. If a comparison of exports with im-
ports for the month of December and for tho
calendar year 1891 be made it will appear that
the value of the exports during the month of
December was $119,923,532 and of imports
$09,440,665, or an excess 111 favor of exports ;of
$50,487,877. The value of exports for the year
1891 was $970,500,282 and the imports $828,312,-
646, or a balance of trade in favor of our ex-
ports of $142,193,636.
If the value of our exports and imports for
the month of December be combined, it will
be found that our total foreign commerce was
$183,377,187, and our foreign commerce, im-
ports and exports, for and calendar year
amounted to $1,798,818,928, an increase of
$17,918,654 over the total foreign commerce of
1890, when it was of the value of $1,680,900,-
274. The average annual value of our for-
eign commerce for the ten yearn from 1881 to
1890, inclusive, has been $1,465,805,561.
If a comparison be made it will be ob-
served that our foreign commerce for the cal-
endar year 1891 exceeded tho annual averago
for tho ten years mentioned by the large sum
of $333,013,367.
Tho treaty with Brazil went into effect April
1,1891, and the treaty with Santo Domingo
and with Spain concerning trade relations
with Cuba and Porto Rico took effect 011 Sep-
tember 1,1891. It appears in the following
vable, which gives the values of our imports
and exports from and to these countries that
there has been
a decided increase
in the aggregate of both the imports and ex-
ports. Sufficient time has not yet elapsed to
demonstrate the full effect of these treaties
upon our commerce with these countries.
Furthtnnore. wheat and wheat flour by the
terms of the treaty with Spain wore not ad-
mitted into Cuba and Porto Rico at the greatly
reduced duty until July 1, 1892.
The following statement shows the value of
tho merchandise of the United States with
Cuba, Porto Rico and Santo Domingo since
the reciprocity treaties there went into effect,
compared with the value of the trade during
the corresponding periods of the year:
Brazil, total nine months $11,550,147
Cuba, total four months 7,002,222
Porto RieOj tot al four mouths 973,090
Santo Domingo, total four months 316,238
It appears from a statement of tho value of
imports of merchandise entered for consump-
tion for the three years ending September 30,
1890 and 1891 respectively, that there has been
a largo increase in the imports free of duty,
and a correspondingly larger decrease in the
dutiable imports.
I11 the year ending September 30, 18S9, the
excess of dutiable imports over imports ad-
mitted freo was $232,098,477, and tho percen-
tage of dutiable imports 65.49 as compared
with 3-1.51 per cent admitted free of duty and
during the year ending September 30,1890, tho
excess in value of dutiable over free imports
was $242,370,305, and the percentage of dutia-
ble was 05.13, as compared with 34.67, tho per-
centage of free imports. During the year
ending Sopternber 30, 1891, there was a de-
cided change in tho proportion of imports
and there was an excess of imports admitted
freo of duty of $6,262,274, and tho per-
centage of imports admitted freo was 50.38, as
compared with 49.62, tho percenfcago of dutia-
ble imports.
It thus appears that there was an increase in
the valuo of imports admitted free of duty
during the year ending Sopternber 30, 1891,
over the like imports for the year ending Sep-
tember 30,1890, of $140,213,755, and an in-
crease in the percentage of 15.51. If com-
pared with like imports for the year ending
September 30, 1889, there was an increase in
the valuo of freo imports in the year ending
September 30, 1891, of $160,902,798, and in the
percentage of 15.87.
Sugar, however, one of tho principal articles
of import, was not admitted.
free of duty
until April 1, 1891, and from that date the
value as well as percentage of merchandise
admitted free of duty has greatly increased.
The statoment for the year ending September
30, 1891, ombraces only six months of the
time since the duty was removed from sugar,
and consequently the effect upon the imports
of free merchandise, as well as dutiablo, for a
complete year cannot bo known until April 1,
1892.
Undoubtedly tho value, as well as the per
cent, of imports admitted free of duty will bo
still greater.
Our exports and imports of gold and silver
during tho last calondar year were as follows:
Exports of gold, $79,088,312; imports of gold,
$44,970,110; excess of exports, $34,118,202,
Exports of silver, $27,196,937; imports of
silver, $18,192,750; excess of exports, $9,004,-
187. Excess of exports of gold and silver
combined, $113,122,389.
It will be remembered that tho exports of
gold during the first seven months of tho year
were unprecedentedly large, and only since
August have tho imports of gold exceeded the
exports.
Concerning Free Lumber.
Washington, Jan. 24. — [Special.]—The
ways and means committee has decided upon
highly important action concerning tho ques-
tion of free lumber. A bill drawn by Mr.
Bryan, the Nebraska member of tho ways and
means committoe, providing for the abolition
of duty on manufactured lumber has been in-
formally considered and an agreement reached
which will be embraced in a report soon to be
made to tho house.
On the authority of Chairman Springer, all
the items of this, bill are given and the disposi-
tion made by the committee.
Tho bill, as introduced by Mr. Bryan, pro-
vides that on and after the first day of October,
1892, the following articles shall be exempt
from duty:
Timber hewn and sawed and timber used
for spars in building wharves; timber squared
or sided; wood unmanufactured, not specially
enumerated or provided for: sawed boards,
planks, deal and all other articles of sawed
lumber, hubs for wheels, posts, last blocks,
gun blocks, heading blocks, and all like
blocks or sticks, rough, hewn or sawed ; staves
of wood, pickets and palings; laths, shingies,
clapboards, pine or spruce logs.
Provided that if any export duty is laid upon
the above mentioned articles, or either of
them, by any country whenco imported, all
articles embraced in this act imported from
said country shall be subject to duty as now
provided by law.
It will be seen that this bill does not cover
all classes and grades of lumber. The com-
mittee has under consideration the schedule of
tho Mills bill, covering other classes, and has
concluded to report the provisions of that
measure with slight modifications. The corn-
mitteo has decided that when lumber of any
sort is planed or finished there should bo levied
and paid for each side so planed or finished
25 cents per 1000 feet, board measure, and if
planed on one side and tongucd and grooved
50 cents per 1000 feet, board measure; if
planed on two sides and tongued and grooved
75 cents per 1000 feet, board measure; and in
estimating board measure under the schedule
no deduction shall be made on account of
planing, tonguing and grooving.
This section is in the language of tho Mc-
Kinley bill, but provides for but one-half the
duty lovied in that measure.
The bill further provides that paving, posts,
railroad ties and telephone and telegraph
poles of cedar shall be dutiable at 20 per cent
advalorem, and that sawed boards, planks,
deals and all forms of sawod cedar, lignum
vitae, lancewood, ebony, box, grandilla, ma-
hogany, rosewood, satin wood and all other
cabinet woods not further manufactured than
sawed, 15 per cent advalorem; veneers of
wood, 20 por cent advalorem.
The committee does not intend to change
the present law covering casks, barrels, pack-
ing boxes, etc., which are now taxed 30 per
cent advalorem. Chair cane or reeds, wrought
or manufactured from rattans or reeds,
whether round, square or in any other shape,
will be left at the present rate of 10 per cent
advalorem.
It has also been decided not to disturb the
•resent duty of 35 per cent advalorem on
ouse or cabinet furniture of wood, wholly or
partly finished, manufactures of wood, or of
which wood is the component material of
chief value.
Message Expected To-Day.
Washington, Jan. 24.—The course of the
proceedings in congress during tho ninth
week of the sossion depends largely on tho
manner in which the president's message and
Chilean correspondence are received.
The usual course will doubtless be followed
in each house of congress, by referring the
message and accompanying correspondence
to appropriate committees. Pending con-
sideration in tho committees the message and
correspondence will bo printed.
After the members have thus had an
opportunity to inform themselvos of
the official history of the trouble
some of them may desire to bo
heard on the floor, but the disposition of tho
most influential men in tho senato and in the
house is advorse to the unusual hasto in the
consideration of the subject.
It is expeetod that the promised message of
the president and all the correspondence re-
lating to the trouble with Chile will be sont to
congress to-morrow. The senate will proba-
bly take up the Weil and La Abra claims,
which were under consideration when the
senate last adjourned. The newlr-reuorted
code of rules for the house of representatives
during the Fifty-second congress will
be the principal topic of discussion
in the house during the week, unless
a debate on the Chilcau controversy is unex -
pectedly precipitated. The appropriations
committee is preparing an urgency deficiency
bill to continue tho work of the census bureau,
and it will probably be ready for considera-
tion in the house during tho week.
The military affairs committee is in session
almost every day on the army appropriation
bill or military academy appropriation bill,
and within the next ten days one of these
measures is expected to bo on the calendar
ready for consideration.
Chinese Exclusion Hill.
Washington, Jau. 21. — Representative
Stump, of Maryland, chairman of the house
committee on immigration, has prepared a
bill absolutely prohibiting the coming of
Chinese laborers into the United States for a
period of twenty years, which he will lay be-
fore the committee at an early day.
The bill is a long one, of eighteen sections,
and drawn with careful attention as to details.
It is made unlawful, for a period of twenty
years after the passage of the act, for any
Chinese laborers, whether subjects of tho
Chinese empire or any other foreign govern-
ment, including those now here, or
who may hereafter louve the country
and attempt to return thereto, and
those who, having boon hero and departed
to coino within or cross the boundaries ot' the
United States, or to come tu or within or land
or remain at any port of or piaco within the
United States.
This provision applies to Chinese laborers
who come to the United States lor tho pur-
pose of transit only, aa well as those who
come for other purposes.
The words "iaboror or laborers" are con-
strued to mean both skilled and unskilled
labor.
DEEP WATER DOTS.
The Coming Meeting of the Aransas Pass
Harbor Company Notes.
Rockport, Tex., Jan. 24.—Business is almost
at a standstill hero on account of the cold
weather and strike combined.
Gardeners generally claim the freeze has
done but little injury to their crops. It rained
yesterday.
Captain A. J. Peeler, secretary of the Aran-
sas pass harbor company, went to San An-
tonio yesterday in the interest of tho company,
and D. M. Pickton is in Refugio on tho samo
business. A meeting of the stockholders and
directors of this company is called for Febru-
ary 2 to decide the question as to whether the
company will undertake the- work of remov-
ing the bar at Aransas pass or not.
The directors of tho company and thoso on
the inside say tho work, will promptly com-
mence and bo vigorously pushed. Others say
they are doubtful.
"If it weren't agin the rule" your correspond-
ent would say the work on the bar will bogin
in less than thirty days. It will be pushed
great vigor. In six months from this
with
date vessels drawing twenty feet of water
(with a capital T) will oe able to enter Aran-
sas harbor and ride there in perfect safety.
That thirty feet of water can and will bo
obtained over that bar within two years and
permanently maintained there.
That Aransas Pass and Galveston will be tho
groat gulf ports of Texas. Other email ports
may spring up, but from the nature of things
they will not interfere materially with the
prosperity of those.
CONSIDERING THE QUESTION
or Suspend
To Issue
New Securities
Dividends.
Chicago, 111., Jan. 21,—It is learned hero
that at the late meeting of tho directors of tho
distillers' and cattle feeders' company, they
considered the subject of releasing tho real
estate on which many of the companys' dis-
tilleries are located.
The company owns oighty-five distilleries,
and are operating only eighteen or twenty.
When the purchase of tho plants was made by
tho company the land on which the distilleries
was located in many instances was leased and
not purchased. The distillers' company was
given the privilege of purchasing such real
estate before January, 1$>3. If the purchases
were not made before that date, the real
estate must again be released for another
period of live years at a revaluation.
It is estimated that between $3,000,000 and
$4,000,000 will be required to purchase the
leaseholds of the company, and the question
considered by the company was whether new
securities to that amount .should be issued or
dividends suspended until the purchases have
been made out of earnings of the company.
The matter was not definitely settled.
TIRE RECORD.
A Big Illuze at l.ovelady.
Lovelady, Tex., Jan. 24.—This town has
again had a big fire. About 5 o'clock this
morning fire was discovered in tho building
occupied by L. P. Hemphill, as a grain and
feed store. It also contained the assigned
stock of W. J. Rains. The building and stock
a total loss; no insurance. Loss 011 tho
two stocks about $2500; on tho building, $500.
Next in rotation were Montgomery & Law-
rence ; they saved about half of their goods.
Loss on stock, $2000; on tho building, $500;
110 insurance. Next was tho saloon of J. B.
Fifer & Co.; stock all saved. The building
occupied by them belonged to W. F. Demt,
worth $500; no insurance on stock or build-
ing. Next was the saloon of Wakefield & Co.;
£oods all saved; buildings valued at $750; no
insurance. Tho next building was vacant.
The next one was J. W. Morgan & Co.,
general merchandise and postoffiee; the
goods wore about all saved; 110 insurance.
The last two buildings were the property of L.
P. Hemphill, worth $1000, and are a complete
loss, as he had no insurance.
Had it not been that everything was as wot
as snow and rain could make it and for tho
bravo work of the entire town, ladies included,
all of the town east of the railroad would have
been burned. The lire was beyond doubt the
work of an incendiary. Mr. C. B. Moore,
clerk in the house where the tire started, says
tliat his wife being sick he closed the house
yesterday at 4 p. m. and was careful to close
up the stove and leave everything in good
shape. It was on tho 19th of January, 1890, and
on Sunday morning that Lovelady had about
such another lire.
ST. I,GUIS MARKET REVIEW
TEE MANIPULATION OF CORN BENE-
FITS THE MARKET.
Only a Series of Accidents for the Bull
Side to Look To—Oats Continue
to Come In.
St. Louis, Mo., Jan. 24.—[Special.]—There
has been for somo time past some very pecu-
liar working of the local corn market going
forward.
Under Control at Last.
Lam aqua. Pa., Jan. 24.—The first Lehigh
mine fire, which has been raging for some
time past and which threatened to destroy tho
entire mammoth vein is now under control,
and if no fresh outbreak occurs within the next
two weeks it will bo extinguished and tho men
will be ready to resume work.
Will Be Tried To-Day.
San Antonio, Tex., Jau. 21.—James Speers,
who is accused of having murdered young
King in Zavalla county, and from which coun-
ty his case, on a change of venue, was trans-
ferred to this county, is to bo tried in the
Thirty-seventh judicial district court here to-
morrow, aud Sheriff Ackers and a large num-
ber of the witnesses in the case arrived here
to-day attend the trial.
| and spring from the west. Though the actual j
I net arrivals hero wero only about 100,000 ,
! bushels, the stock in store is now 3,013,000 |
i bushels, 01* 29,000 bushels larger than a wcl; j
j ago, tho stock of No. 2 red being 2,109,000 bush- I
els. During several days of the past week quite ,
an extensive demand was seen for the cash |
article coming from local and outside milling
account, but after laying in supplies ;
sufficient to run thorn for some time, tho city »
millers bought very sparingly, and tho outside
orders were not many or large. Sellers of the i
contract grade had to depend mainly upon 1
speculative buyers, and though No. 2 red sold j
up to 91c on Thursday, ii had dropped back to j
89J-1.C by yesterday. The other grade's wero j
scarcer and much better sustained, No. 2 red ;
selling on Thursday at 86; jc, and yesterday j
commanding 86('/N>;av*. No. 4 sold at 81'4 fe 1
81)^0, rejected at 75c; No. 2, hard winter and I
spring, at 82c and No. 3 at SO^c.
,,, , The fact that St. Louis is 1 he best market to j
10 a man up a tree it looks very much as j ship oats to, continues to draw that cereal this
tough a certain corporation that is forbidden way. The receipts for the past week weri
286,615 bushels.
WE
s* tiLlii
J, TEL
rn
PUBLICJ INTEREST DIMINISHED
THE STOCK MARKET
IN
On Account of War Rumors and Gould's
Controversy With the Western
Traffic Association.
though a certain corpora
by the laws of the stab.' from speculating in
grain is the power that is pulling the strings.
The year option was manipulated, tho Janu-
ary option has been and it seems probable
that tho February and March options will go
through tho samo treatment.
What else, what other manipulation could
run the year and January options so close 111
price?
On Friday, at one time January was prac-
tically the same as May in value, both selling
at 35%c. Where tho money in this is for the
carriers, except in having the January bought
and tho May sold at a considerable wider dif-
ference, can hardly bo figured out. The carry-
ing charges from the 1st of February to the
1st of May are 3%c por bushel for storage, }£o
for interest, for insurance,. Here is a
total of 4%e por bushel to carry corn for three
months. Tho charges for two months would
be 3.08c and for one month 1.64c por bushel.
Yesterday tho closing figures wore 36J^c
asked for January, 36c bid for February, 36)4c
for March and 37@37%c bid for May. The
stockholders in this corporation, unless they
stand in, with the speculative play, can hardly
figure out a profit in these figures.
There is 110 denying ono fact, that tho
manipulation of tho price of corn is of benefit
to tho St. Louis market by fixing values at
this point relatively higher than at any com-
peting market, and thus attracting country
shipments here. This has not boon tho result
so far, as tho country, having its corn sold at
the soabord for European export at consider-
ably higher figures than have ruled for somo
time, has been rushing its shipments through
to fill its seaboard contracts, thus, of tho past
week's receipts of 1,350,000 bushels, fully 80
per cent went through this market without
stopping.
All tho indications, however, now point to a
largo run of corn, the balance of this month,
to St. Louis. Bids sent out Friday of 36}^c,
and yesterday of 36c, brought a large amount
of corn, for prompt or for February shipment,
to this market. The knowledge of these
extensive puchases
was probably because of the sentiment in
January yesterday, that option being offered
before tho day closed %c below May, and not
a buyer in sight. Close observers assert that
tho manipulating combination has got out
about all its Jauuary, and is now buying Feb-
ruary and March and sellingMay. This means,
if it is so, a transfer in tho manipulation from
J miliary to these two more deferred options.
The stock in storo hero is now 535,000 bush-
els, of which 499,000 bushels is of the contract
grade, and an increaso in tiie total amount
over a week ago of 50,000 bushels. Outside of
speculative buying of the contract grade thoro
has not been much demand. Outside orders
wero small and local requirements moderate.
Yesterday's cash figures were 36%(i/36%c
for No. 2, 35}£e for No. 3 and 38)<|'@39c for
No. 2 white. Tho danger attending a heavily
oversold wheat market at this season of tho
year, and at the price it was the week before
last, was pointed out last week and received
the swift corroboration of a sharp upturn in
prices this past week. There was an advance
of over 4c from tho bottom and of from
the preceding Saturday's close, on Thursday
May soiling at 94^c and July at 89!^e. This
was nothing extraordinary in the way of an
advance, but it was enough to drive in most
of the smaller shorts, and one local trader was
forced to cover 600,000 bushels he was short.
The two principal shorts, ono in Chicago and
the other in St. Louis, aro supposed to have
also bought in part of their lines, but are still
credited with having a largo amount outstand-
ing on the sold side. The decrease in tho last
visible supply of over 1,500.000 bushels, and
rumors that war between this country and
Chile was imminent, gave the market its up-
ward turn, and though it did not hold its ad-
vances, it did not lose all it gained. Yester-
day's latest price 011 tho curb was 93c for May
and 87,^0 for July.
The failure of tho market to advance any
more than it did and of the European mar-
kets to respond to the advance on this side
as it was believed they would has shattered
most of tho bull confidence that had beon
worked up by tho lato reaction in prices. A
great deal of the disturbed
13ear confidence was hk8toued
by the same reasons and the shoit sido is once
more very popular. There is 110 going away
from tho bearishness of the situation when it
comes down to counts in the long run. For-
eigners have apparently enough in homo sup-
plies, stocks in cumulative centers and in
farmers' hands, either 011 tho occan or to bo
shipped from this country and in the near
prospective supplies from India, Australia and
South America to meet their requirements for
some time to come, hence their present apathy
and apparent indifference to advances in this
country.
The clearances from tho country continue
large, and the amount set afloat for Europe
for exporting countries average somo 7,000,-
000 bushels weekly, which is above tho estim-
ated requirements. Their crop conditions, so
far, aro excellent, and there is 110 present
pressure upon them to enter the field as buy-
ers. On the bull side there is only now a
series of accidents to look forward to for re-
liof—crop scares and war scares, or else spec-
ulative manipulation, and the latter is an ex-
tremely uncertain and dangerous factor to
bank upon. In the home market a break up
in the ice and resumption of river navigation,
it is believed, will load to largo shipments for
European account, and tho stock in storo hero
is not so large that tho shorts could with
equanimity view a largo depletion in local
supplies. The disappearance of tho present
snow protection of tho winter wheat plant
would also bo a source of danger to tho short
sellers, leaving as it would tho plant exposed
to any sudden and severe change in tho
weather, so that though the legitimate situji-
tion is bearish enough, too much onthusiasm
and too much short selling at this tune of tho
year will be attended with a great deal of
hazard.
Whilo the movement of wheat to market
shows little decroase, 251,356 bushels receipts
for the past week, against 280,946 bushels the
week before and 70,947 for the corresponding
week of last year, a larger proportion goes
through, tho percentage of "through" receipts
for the week being nearly 65, whore it was 45
the previous week. This "through" wheat is
bouud for tho seaboard, and is
destined for export,
going via New Orleans, Newport News aud
Norfolk. Most, if not all of it. is hard winter
. exceeding the week before by
49,000 bushels and the corresponding week of
last, year by 138,000 bushels. With all those
liberal arrivals the stock lias only increased
58,000 bushels and is now 166,000 bushels, of
which 53,000 bushels is No. 2. The market has
hold up well in price, in fact is improving over
tho preceding weeks' close, No. 2 selling up to
30c, -No. 3 to 29,'jC, No. 4 to 29c, No. 2
white to 31f4c and No. 3 white to
30jjj. During tho latter part of the week a
southern shipper took all offerings of tho
mixed grades, but white and color grades
being dependent upon the local trade wero
slower sale.
Yesterday the usual Saturday slump in prices
took place and No. 2 sold off to 293^c and No.
3 to 29c. Speculation continues thin and May,
after selling to 31% to 31;^c when wheat and
corn were at their strongest early in the week,
was off to .'i()7HC by tho close of yesterday.
Cotton developed considerable strength
during tho week, local spots showing more
activity than has been seen hero for months,
the local sales for tho week aggregating 11,710
bales and an advance of .'^c was established.
Spots in all the other primary markets show
an improvement aud an increased demand by
both eastsrn spinners and foreign buyers.
Tho weekly interior movement
shows a decrease
of 25,000 bales, as compared with last week
and is 60,000 bales less than tho correspond-
ing week of last year. This is attributed by
somo to bad weather. It is significant that
the falling off' in recoipts is howovor, nearly
uniform, whilo tho bad weather alluded to
only prevails in special districts and is not
unreasonable at this time of tho year.
Tho future market at Now York has ad-
vanced steadily up to Saturday, when about
14 points was lost from Friday's closing prices,
but the closing prices to-day are about 35
points higher than last Saturday. Tho feeling
is generally firmer and confidence sooms to bo
restored. The pormanency of any
advance iu prices depends entirely
upon the course pursuod by tho
factor and planter in preparing for next sea-
son's crop. This year has boon a most disas-
astrous one to tho south, simply from the
over-production of cotton ; and whilo tho sale
of the crop of 1891-92 has left the south in
debt it only needs another largo crop to bring
complete ruin to factor and planter alike. Al-
though it is too early to make any estimate of
the next crop, the indications point to a largo
reduction of acreage, superinduced by tho
present low prices, which will make it difficult
for planters to obtain monoy and supplies or
even liquidate their present debts.
Interesting Havana Items.
Havana, Cuba, Jan. 24.—[Special.]—Sinco
New Years the temporaturo has ruled bo low
from sunset to sunrise, 65 to 70 degrees, as to
greatly increase the number of cases of tho
grip, and it prevails generally throughout tho
city many prominent citizens being its victims.
The winter will be reinembored as tho cold-
est within the memory of the oldest inhabi-
tants. While this is favorable to tho ripening
of sugar cane aud the growing crops, it ser-
iously affects tho general health. Sugar mak-
ing is general throughout the island and there
is every prospect of realizing 3,000,000 tons
for 1892.
The Madrid authorities are busy planning
reforms in the expenses of Cuba, which
prom iso to lessen tho year's budget somo $1,250,-
000. The falling off of receipts at tho custom-
house occupies tho attention of the govern-
ment, and many plans are suggested to pro-
vide for tho deficiency.
Tho first step toward cheap bread for tho
people comes from Cardenaz, where 011 the
15th instant, the enterprising bakery "El
Gallo," paraded the streets with a car decked
with flags announcing that they would sell
bread at 15c per pound, paper money, which is
equal to about 7c gold. At tho samo time tho
bakers of Havana met in council and resolved
to sell the bread at an advance of 20 per cent,
above former prices, as tho duty was $4 per
barrel higher.
Tho bakers presumo a great deal upon the
patience of the people. The Spanish Bank of
Havana has been compelled to receive the
copper cents 111 payment of taxes, which it
had refused after putting them in circulation,
and to pay the costs incurred by those making
a legal demand upon tho bank and its
branches.
It is rumored that tho agency of the Morgan
line of steamerB has been changed to the large
importing commission houso of Messrs. Gal-
ban Rio & Co. Thoro is no good reason for
all the western flour, lard, corn, etc., destined
for Cuba coming round by New York, as has
beon tho case for a number of years, on ac-
count of higher rates of freight via New Or-
leans. ^
Heard Nothing About Garza.
San Antonio, Tex., Jan. 24.—Dr. Plutarco
Ornolas, Mexican consul here, returned to-day
from a trip to Eagle Pass and Cuidad Perfiro
Diaz.
He says that ho has heard nothing about tho
Garza revolution for some time and that very
little attention is being paid to it in Mexico,
and that it has but littie effect there. O11 his
return he called 011 General Stanley at tho
latter's residence, where tho general is still
confined to his room by la grippe.
Dr. Ornolas seems to think that the Garza
episode does not deserve one-fourth tho promi-
nence that has beon given it and that its prin-
cipal feature is the faot that the basis of Gar-
za's operations and his rallying points are on
tho American side of the Rio Grande.
Ho also thinks it singular that this govern-
ment has been unable to capture Garza.
Nothing for the Public.
Burnet, Tex., Jan. 24.—The convention of
the Farmers' alliance which has been in ses-
sion here since Thursday closed its labors yes-
terday evening. Every effort was made by
your correspondent to get such proceedings as
could bo given to tho public by earnest solici-
tation to its officers, but he totally failed to
gam any information of valuo.
The attendance upon the convention was
small, but seven counties being represented.
Llano county will bo the next place of meet-
ing 011 tho third Thursday in July.
New York, Jan. 24. — [Special.] — The
Chilean affair and Mr. Gould's controversy
with tho Western traffic association have been
the absorbing topics of interest 111 Wall
street this week.
Both have had a tendency to diminish pub-
lie interest in the stock market, because they
have increased the uncertainties of specula-
tion. Tho professional element has endeav-
ored to take advantage of this circumstance,
but, judging from prices, it has not been es-
pecially successful. The general conditions
affecting the security market aro such that
vigorous efforts to depress prices affect only
small marginal holders of stock aud do not
influence those who are about to combine pa-
tience with capital, with a view of making a
large profit.
Yesterday's bank statement furnished addi-
tional evidence of the accumulation of unem-
ployed capital. Tho increased surplus reserve
to nearly $33,000,000, together with tho reduc-
tion 111 tho Bank of England's rato of dis-
count, is probably tho strongest argument
that speculators 011 the long side of the market
could desire. It is only a question of time
when this unemployed capital will seek invest-
ment, and as it finds no attractions in tho mar-
ket it will probably turn to tho security mar-
ket, as it always has heretofore.
Tho most important dealings yesterday
wero in distilling and cattle feeding, and they
resulted in a net advance of 26c. Tho demand
for tho stock provoked comment, because of
the apparent effort of Chicago operators to
depress the prico by circulating reports derog-
atory to the property.
The dealings this week have left Cleveland,
Cincinnati, Chicago and St. Louis distilling,
Louisville and Nashville and Northern Pacific
preferred, about 1'4 per cent lower than last
Saturday. On the other hand, Lackawanna,
and a number of specialties, notably Sugar
refining and Omaha common, aro materially
higher. The railroad situation has boon im-
proved by Mr. Gould's acquiescence in the
suggestion of President Miller, of tho West-
ern traffic association, that the charges against
the Chicago, Burlington and Quiney and the
Atchison and the Southern Pacific companies
should go over to the next regular meeting <»f
the advisory committee.
Tho charges against those companies a.o
not serious, so far as tho volume of bit »in< • *
concerned is effected, but aro important 1
question of discipline. Tins does not se m v>
be underestimated by the president of ii: • -
eociation, for bo has assured tho Misouri
Pacific that ho will call
a special meeting
of the association, if a quorum is not obtained
at tho regular meeting. Investors in railway
securities have been encouraged this week, by
tho announcement of the Misouri,
Kansas & Texas company that it
will pay tho coupons on its second mortgage
bonds, duo February 1, and by tho declaration
of tho dividend on Laclede gas preferred and
Rochester and Pittsburg preferred.
A11 meroaso in the dividend on Chicago gas
is among tho immediate probabilities. In ad-
dition to the ordinary increaso in tho business
of tho enterprise, the company expects to de-
rive a large increase in its profits on account
of tho world's fair.!
The stock of the National cordage company
has received attention because of tho diminu-
tion of tho competition and unofficial yet
trustworthy reports as to tho earnings of tho
company.
Distilling and cattle feeding has been de-
pressed by rumors ot litigation, which lack
confirmation. The company has reduced the
prices of its product, as it was entitled to do,
on account of the lower prico of raw material.
The market yesterday was irregular and re-
flected an absence of public interest. Com-
mission and foreign arbitrage houses did very
little business, and tho room truders were not
as aggressive as they have been during the
week. Tho bank statement shows an increase
of lawful money of over $1,100,000, a change
which is accurately reflected in the doposits.
The increase in loans is small and in conse-
quence tho net result is a material increaso in
tho Burpius reserve.
WHO FOR SENATOR?
Hon. J. W. Ilood.
Savoy, Tex., Jau. 24.—Hon. J. W. Hood
says:
"Either Culberson or Chilton will suit me.
However, I will cheerfully support Fannin's
favorite, bo he whom he may. As to your
second request, I do not think there will bo
any ground for caviling."
Hon. 15. H. Krsklno.
Derby Tex., Jan. 24.—Hon. B. H. Erskine
says:
1. "I favor Senator Chilton."
2. "I think tho governor will do his duty,
therefore it is unnecessary to say what I
might bo willing to do in the event ho failed
to include in his call tho election of a sen-
ator."
Celeste Democratic Club.
Celeste, Tex., Jau. 24.—The Celeste demo-
cratic club favors Roger Q. Mills for United
States senator.
THE STRIKE.
Killed One of Them.
Newton, Miss., Jan. 21.—lu an attempt to
arrest two desperate negroos, wanted in Clarke
county, Ala., for a murder committed nine
years ago, Oliver Council, one of the crimi-
nals, was instantly killed, and Weldon Nor-
man, a member of the sheriff's posse, mortal-
wounded. lsom, the other negro, gave him*
bull Up.
Sap Employes Assaulted.
Court s Christi, Tex., Jan 24.—Four new
employes of the San Antonio aud Aransas P;iss
railroad were assaulted in this city last night
in different parts of tho town.
The first assault was made 011 the engineer
of the Rockport train by two men: the second
was on G. Saunders, hostler; the third on H.
T. South, telegraph operator, and tho fourth
011 Charles Edwards, assistant hostler.
South and Edwards were roughly handled.
Warrants were sworn out at a late hour last
night and two men were arrested and locked
up. They will have a hearing to-morrow
morning. An engine was also ditched, but
this is attributed to carelessness on the part of
the new men.
Serious Train Wreck.
Jackson, Miss., Jan. 24.—A serious wreck
was caused on the Illinois Central near hero
last night by a collision of the belated north-
bound cannon ball, which ran into empty box-
cars, the engineer mistaking his orders as to
what switch to use.
Fireman Ellis Scofield was killed and engi-
neer Sain Berry had an arm broken. He was
also badly bruised.
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The Galveston Daily News. (Galveston, Tex.), Vol. 50, No. 307, Ed. 1 Monday, January 25, 1892, newspaper, January 25, 1892; Galveston, Texas. (https://texashistory.unt.edu/ark:/67531/metapth467013/m1/1/: accessed April 25, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Abilene Library Consortium.