Jacksboro Gazette. (Jacksboro, Tex.), Vol. 13, No. 8, Ed. 1 Thursday, August 18, 1892 Page: 1 of 4
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—
H
Dtj (Ms, Notions, Clotting
BOOTS AND SHOES
CHEAP FOR CASH ONLY,
at the STAR STORE,
DECATUR, TEXAS.
r. W. CHENOWETH, Mang. ,
JACKSBORO GAZETTE
VOLUME XIII.
JAOKSBORO, TEXAS, THURSDAY EVENING, AUGUST 18, 1892.
NUMBER 8.
To the People of Jack County:
We solicit your trade ..
and will and can save I
you money. Come and
buy and be convinced.
Star Store, Decatur, Tex.
J. W. CHENOWETH, Mang.
THE
IMPORTANT TO PLANTERS
'AND COTTON DEALERS-
THE ANTI-OPTION BILL
ftMi
FOURTH
ANNUAL
GOUQTH
. V
ms
& ’
P "v
F
OPENS AT
ACKSBOBO, TEXAS,
OeTOBEf^ 4TH,
AND CONTINUES FOUR DAYS.
Open to Clay, Montague,
Wise, Parker, Palo Pinto,
Young, Archer, and Jack
Counties.
First Day Closes all Entries.
Come Everybody and see
the Fine Stock of Jack
and adjoining counties.
YOUNG COUNTY NURSERY,
L. J. BOWEH, Proprietor,
Bag on h fin cl a first-class lot of fruit trees that have been tested thoroughly; also ornamental
trees, shrubbery, and in fact everything usually kept in a first-class nursery. Trees delivered
fresh find in good condition. Apply to j. A. ROUSE, Agent.
And Cotton Contracts Set
Forth In a Plain Way,
By Latham, Alexander & Co.,
Bankers and Cotton Com-
mission Merchants.
New York, Aug. 8.—Having
received many letters from various
sections of the South making
ners bought 2,613,440 bales; add
these two amounts together and
it will be seen that the spinners
bought 4,032,708, which was 309,-
708 bales more than they required.
American spinners bought 569,560
bales less. Other dealers in cot-
ton bought 1,859,083 bales of the
planters’ crop.
This year during the same pe-
riod the spinners bought for con-
sumption in America 1,859,083
bales of the planters’ crop.
This year during the same period
the spinners bought for consump-
earnest enquiry concerning what
is called the Anti-option Bill now ;tion in America 1,558,856 bales,
before congress, its probable ef- European spinners bought 2,430,-
feet upon commerce, &c., &e., on bales; add these two together
July 12th, we issued a circular and 11 wU1 b,i seen that the spin-
letter to our friends and corres-
pondents, in which we endeavor-
ed to explain the difference be-
tween options and contracts, and
printed the only form of contract
upon which cotton is bought and
sold in the New York Cotton
Exchange.
In order that the cotton trade
of the United States shall under-
stand the present status of the
bill, we beg to say further discus-
sion of the Anti-option Bill has
been postponed by the senate
until the first Monday in Decem-
ber, when the House bill, as
amended in the senate, will be
considered as the original act.
Accordingly at the next session
of Congress it will come up for
action every day after the expi-
ration of the morning hour until
disposed of—this bill having pre-
cedence, and it will be voted upon
at the next session unless the
opponents of the bill can defeat
that end.
We would be pleased to print
this remarkable Anti-option Bill
entire, but the bill with the amend-
ments covers thirty-three pages
of printed matter, and' has been
floundering around in the senate
so long that it would require a
Philadelphia lawyer to understand
ners bought this year 3,939,606
bales more than they required,
If you want anything whatever in Summer Goods we will
SAVE YOU MOIBl'
H ..
McComb, Eastin & Knox.
have held previous to the first of
January (when money is very
stringent in that section) 1,859,083
bales of cotton, worth $45 per
while the dealers in cotton bought bale’ *8®’6®?’78JThl8 18 *he coi'
1,410,445 bales of the planters’ll t^t *e ^
crop.
From the foregoing figures it
will be seen that merchants, bank-
ers, dealers in contracts and spec-
ulators in contracts for future de-
livery of cotton bought of the
crop of 1890-91 in four months
1,859,083 bales.
In 1891-92 the same dealers
bought in four months 2,410,445
bales of cotton more than was
necessary for. the world’s con-
sumption. Adding two years to-
gether, the planters will see that
these non-consumers bought from
them 4,269,528 bales of cotton,
worth, say, $45 per bale in Liver-
pool, or $192,128,760, and on ac-
count -of these purchases they
may have lost by decline, say,
$44,317,700.64, for cotton declined
$12 per bale from December 31st,
1890, to July 31st, 1891, and $8.75
per bale from December 31st, 1891,
to March 18th, 1892. Not only
did these operators in cotton lose
some forty-four millions of dollars
by these declines, but spinners
! bought the cotton in the first four
! months also lost heavily.
The money lost was profit to
what the measure actually means.i *be planters, because they dis-
Ours is a firm of bankers and
cotton commission merchants, of
twenty-three years in the City of
New York, and we have never
been engaged on our own account
at any time in speculations in cot-
ton or anything else.
The member of our firm who
posed of thkir crop promptly, and
the speculators were holding two-
thirds of the crop when the de-
clines occurred.
On February 26th of this year
the visible supply of cotton in the
world out of the planter’s hands
was 4,720,872 bales of cotton,
writes this letter has been a mem-! wor^b» 8ay> $^5 per bale or $212,-
ber of the New York Cotton Ex- ^39>240, and of this enormous
change for about twenty years, stock PerhaP8 ninety Per cent-
raBurnmnnr
Has No. 1 machine bnS’efl fuil leather top a no baelt curtain, a
great improvement over the old style. Brewster iastaner on
baeU stays, Rubber Storm -Spron, silver plated joints, silver
plated bead around boot, sliver plated Seat Handles, silver
plated Bash Rail, silver plated Hub Bands, gsrven Patent
Whecls.boltecl between every gpok-i, tarnished tvph cm- patent
.-fifth, wheel, 'by which king bolt does’nt pass through the axle.
In Workmanship and finish it can not be duplicated in the
I market and supplies a Jet® felt, war.* for a full trimmed buggy
—4 a moderate price.' Ws*if© fibs- Kpeefnl IPsdee,
’e carry ever 506 Vehicles in stock of all kinds.
L
[BUGSY
is money
I placed
\ market-
sP
We carrv over 306 Vehicles In stock of all kinds,
and are Headquarters /or Hu -mess. We also
carry a full stock of h»y Presses, Baling Ties,
Sweep and Sulky Rakes, Mowers, Threshers,
Traction Engines. Sorghum Mills and Evapor-
ators. WRITE US FOR YOUR WANTS. AddreS3
PARMN & OftENDORFF CO.,
33AX4L..A.S, TEXAS.
has been a planter for many years,
owning two plantations in the
state of iflississippi and has now
in cultivation about one thousand
acres in cotton.
For the foregoing reasons he
has a right to express his views
concerning the bill with frankness
and freedom. The success of our
business we consider depends
upon the prosperity of the coun-
try generally. In business we are
was carried in the markets of the
world by t\ie same operators re-
ferred to, because of the contract
system, which enabled them to
handle expeditiously this great
product. Estimating the decline
on this large stock of cotton from
December 31st, 1891, to July 1st,
1892, the holders must have lost
on an average one cent per pound,
or $23,604,360.
By the foregoing figures it is
shown that about two-thirds of
SjA£!
m
:
$ 0. FI80HGR
HAVE MANUFACTURED
[OVER 90,000 PIANOS,
Julian any other first class maker.
rices, Terms, Catalogues, Etc., Address
4 A. WATK1N MUSIC C&IPAHY,
269, MAIN STREET, DALLAS, TEXAS.
Guitars, Banjos, Violins, Strings, Etc.
neither Democrats, Republicans,
Alliance men nor Grangers, and the planters’ cotton had been
seek no favors from any political; moved t° market in four months;
party or unfair advantage in busi- that *8’ bef°re January first of
ness from any section. each cotton year, and the contract
The American crop for the cot- ®J«t6m *8 the only way that it
ton year 1890-91 was 8,652,597 jcoald bave beGn 80 moved> and
bales. Of this large crop 5,891,- l,y this means alone the planter
791 bales had been delivered from i was enabled to receive promptly
plantations and shipped to cities, \ casb f°r bi® crop,
towns, ports and to Europe in We are at a loss to understand
four months, that is by December i wLJ any senator, representative ;
31st, 1890. or business man in the South!
This year the total crop of the j would favor a measure that would [
United States will be about i force the planter to hold his crop I
gamblers ” took
away from them in four months in
excess of consumption in 1890?
Could they have held the 2,410,-
445 bales of cotton worth $45 per
balev $108,470,025, that the same
“gamblers” took from them in
1891 ? Could they have held the
stock of cotton in the world on
February 26, 1892, which was
4,720,872 bales outside of the
hands of spinners, and worth in
round figures more than $200,000,-
000? Could they have held even
one-quarter of it, wort h $50,000,000 ?
Could they have held any of it
and met their obligations prompt*
ly ?
To present the matter in anoth-
er simple way: On July 2, 1892,
there were 3,373,501 bales of cot-
ton in the various markets of the
world? Now, suppose two million
bales of this cotton had to be
shipped back to the South from
various points where it is held
and carried on contracts for future
delivery, could the Southern mer-
chant and planters take this cot-
ton back and pay for it? Two
million bales of cotton is worth
more than eighty millions of dol-
lars. This cotton would have
to be paid for in gold, and all the
planters in the South combined
could not raise eighty millions of
dollars in gold and hold the cotton.
The treasury of the United States
could not stand any serious dimu-
nition in the exports of our cotton,
for the balance of trade would
soon be largely against ns, and, in
the absentee of cotton bills, our
bankers would have to ship gold
to meet the country’s obligations
abroad. Even now commercial
bills are scarce, and the conse-
quence is that gold is being
shipped abroad.
Previous to the war, planting in
the South was conducted alto-
gether upon a different basin- As
a rule the planters were rich in
lands and slaves, both of which
could then be easily sold and
converted into cash, and on this
account they enjoyed almost un-
limited credit; besides, the cotton
crops then were small aud were
carried to market by water ways
and wagons on poor dirt roads,
and large accumulations of stock
did not so frequently occur at the
cotton centers.
Now, lands are not readily sala-
ble, the slave property was wiped
out by the scratch of a pen, the
cotton crop has increased to enor-
mous proportions and railroads
have taken the place of rivers and
dirt roads. On account of the
impairment of the value of his
and the loss of his slave
9,100,000 bales, and by December against his will, and when by do-.
bales*bad pltsed out^f tt Sands j commercial business of the Cotton I f^* .Pessary
WM. CAMERON & CO.,
DEALERS IN
IGLES, SASH, DOORS, AND BLINDS,
LASTER AND PAINTS
[.FORD, TEXAS.
Free of Charge and Best Quality
[Prices that Defy Competition.
of the planters, and the planters, J Stales, for the cotton crop, which
as in the previous year, had re- j is worth about $450,000,000, is the |
eeived the money for it. basis of all business in the South.
Estimating the largest consump- But for the contract system it is
tion of Europe to be about 169,000 | not probable that dealers and op-
bales per week, and the United | erators would have taken even
States about 50,000 bales per j one-quarter of the cotton that
week, for four months or seven-1 tbey <bd take, and pay the planter
teen weeks the total consumptive i f°r» during the past two years ;, . .. ,, ,, .
, , ,, , , ^ ° ’ , , ’ .. . .. , ’ merchandise or many other things
demand would have been only and, had not this cotton been for fnture delivery ; this busiuess
850,000 for America and 2,873,000 Promptly taken by parties other ■ on’ for buudred,
for Europe-total 3,723,000-tbus than spinners, relieving the plant- ftf VAnrs ft ^ KnP,mA!111
showing that the planters daring ers by giving them money with
fonr mouths in 1891 shipped to ! which to pay their debts to their
the markets of the world 2,168,791 merchants, and enabling merchants
to pay their debts to other mer-
expeditious way possible in order
to meet his obligations.
The present system of contracts
for future delivery exists, because
the changed circumstances of the
situation absolutely demand it.
There is nothing new about selling
w i
MBBST £HB POULTRY
^SETTING.
I®
iirs.i, res vs&mts isfossahost.
flie McMilks Wovca lire Fence Co.,
IIS aaU ISO 21. ikarket Skj Chicago,
bales of cotton in excess of de-
mand for consumption.
I This cotton year, which ends
j September 1st, 1892, the planters
had shipped to market during the
same time—four months, to De-
cember 31st—6,400,051 ; and, tak-
jing the consumption of America,
Europe at the same figures as be-
fore, 3,723,000 bales, the producers
of the South in four months had
shipped and disposed of 2,677,051
bales of cotton more than was
necessary to meet consumptive
wauts.
In 1890-91 the actual purchas-
ers of cotton by American spim
ners during September, October,
November and December, ware
1,419,268 bales. European s/in-
of years. It is a European system.
Nearly all the goods that our
merchants buy abroad are pur-
chased from drawings or samples
.... ... i—the goods are not actually made
chants, banks and bankers, com-1 . ®.
mercial disaet.r would ceitoinly "he‘1 tlleJ, Sold! »
, . - , , r. they are sold six and twelve
have overtaken the whole South. ' . . . , .
months in advance of manufacture,
and it is astonishing wiiat crude
ideas prevail among many men who
ought to know a great deal about
. . .... , ... | the business system pertaining to
is not in condition to hold any i , , , 1 . . ,
. , „ .. . ... cotton, which lias been m exist-
large amount of cotton, for it. is .’ . „
virtually a circulating medium i„ e”“e m,.Ame"cf for m(0ra ‘h*“ a
the South, and without its rapid «™Mahon, and has eontnbuted 8„
movement all clas.es of business *° ,he, U
would be seriously hampered. i “** **>^ “
If cotton cannot be sold, and I for di«PO«ing °f the frud °f ^
To this as plain as possible, we j
say unhesitatingly that the South-
ern planter or merchant, even
were it desirable for him to do so,
should per force have to be held
during the fall, the effect in the
South would be about the same
as closing up the banks in that
section.
labor advantageously.
The most unwarranted assault
made against contracts is the one
charging that transactions in them
tend to depress the price of farm
go so far as to say that a reckless
“gambler” or “set of gamblers”
can sell, at will, farmers’ products
ss a pastime or pleasure, and then
force prices down, and, of course,
make money.
Did any of these men ever
think and consider that when an
individual or set of individuals or
a combination of men sell any ar-
ticle in advance of its purchase,
hoping for it to decline, that they
incur greater risks than parties
who buy au article hoping for an
advance? The seller takgs the
chance of buying in order to cover
his sale, and his loss cannot cer-
tainly be calculated upon; the
buyer knows positively what he
can lose, because his loss could
only be the total value of the arti-
cle bought, while the seller might
lose a great deal more than the
value of the article sold short.
In every exchange the number
of buyers of cotton largely out-
number the sellers of cotton ; but,
as far the quantity of bales sold is
concerned, the sellers would equal
the buyers; therefore, outside in-
fluence and speculation generally
favor the buying of cotton, and
this is a great factor in maintain-
ing the price.
If it were an easy matter, as so
many people seem to think, to
sell cotton or any other commod-
ity and certainly make money,
there would be but one side to the
market; everyone would become
a seller-even many of our senators
and representatives in congress
might be induced to sell a few
thousand bales of the planters’
product for future delivery, if
they knew the transaction guar-
anteed a profit. The trouble
would be, however, that this state
of affairs would last but a short
time, for there would be no buy-
ers. The price of cotton and oth-
er commodities would rapidly go
out of sight, and the golden op-
portunity would be lost. Men
who are “ bears ” are caught quite
as frequently as men who are
“ bulls.”
A little inquiry at any one of
our Exchanges in any part of the
country, of the individuals who
are said to possess the remarka-
ble faculty and ability for selling
farmers’ products down, and
thereby certainly making money,
will satisfy ail skeptical minds on
this subject.
For the benefit of those who do
not know it already, we beg to
say tbat men, or combinations of
men, who engage in large specu-
lations, do not sell contracts for
fnture delivery recklessly; they
always have, as they think at the
time when their operations begin,
substantial reason for their action.
They do not buy or sell cotton
without some apparent cause, and
they take that side of the market,
because at the time it seems to
be the most favorable. Before
buying they consider the state
of the money market—wheth-
er it is likely to be easy or
stringent, the stocks of cotton in
the world are computed, the
stocks of manufactured goods on
hand are considered, the capacity
of the people to increase their
purchases or not is weighed in
mind, the condition of the grow-
ing crop and its probable output
are calculated, and innumerable
other things are taken into con-
sideration. If these conditions
are favorable to better prices the
majority of operators buy; if they
are unfavorble then they sell
Supply and demand are the con-
trolling forces,except occasionally
when unusual influences exist,
and then such influences are gen-
erally known to the cotton trade
everywhere, the planters included
Even with all this kind of infor-
mation at hand it is often the case
that conditions change so rapidly
that success does not attend one’s
ventures.
Planters, as a rule, are as intel
ligent and reputable as any other
class of citizens. Many of them
are familiar with the principles of
our government and the workings
of our financial and industrial sys-
not have the same opportunities
to become familiar with questions
of finance and business methods
as men at the commercial centers
who have made these questions
the study of a life time, and who are
kept daily informed by letter, tel-
egraph and cable with the work-
ings of business throughout the
world.
We do not believe that the
Subtreasury nonsense or the Anti-
option Bill was germinated in the
brain of the planter. We believe
that such impracticable ideas as
these measures contain were pre-
sented to the planting interest by.
some scheming political, whosi
idea was that the planter was ig-
norant, and on the impulse would
advocate his plans, hoping that
they might give some relief to the
depressed state of the planting
interest.
Just before the elections the
politician invariably falls in love
with the dear planter and the
honest working man; but his af-
fections, and his impracticable
schemes, originated professedly
for the benefit of all mankind,
rapidly subside after the elections
are over.
Planters’ interests are entitled
to the fullest consideration by
the law makers of the country
but they should not expect special
legislation, neither can they hope
to monopolize all the various
branches of trade and make them
subservient to their interests.
If a planter is out of debt he is
not*forced to sell his cotton, but
after he has sold it, his jurisdic-
tion ends and he cannot dictate
what the buyer shall do with it,
nor ou^ht he to propose legisla-
tion that might seriously affect the
buyers’ interest after he had re-
ceived the money for his crop.
It is our opinion that no better
or safer method for handling the
cottoncrop than the one now in
existence can be devised. If the
planter is put to any disadvantage
we cannot see it. We can see,
however, many grievous mistakes
that planters make which if they
would rectify there would be no
opposition on their part to con-
tracts for cotton for future deliv-
ery. The business of planting
itself is risky and specula-
tive, and many planters like
to speculate when they believe
they can make money. Spec-
ulation in cottou is particularly
fascinating to them. The worst
thing a planter does is this: not
content with raising five hundred
bales of cotton, he will buy in ad-
dition five hundred bales of cotton
in contract form; when he has
done this, he has a thousand
bales of cotton to sell, whereas
he should have sold his five hun-
dred bales of cottou raised on bis
plantation, or have sold five hun-
dred bales of contract for future
delivery against the croiv he was
raising. If all planters were to
adopt the rule to sell contracts
in addition to their crop when the
market would served, and not
buy contracts in addition to their
crop, they would come out much
better. By buying contracts in
addition to 'the crop they raise,
they increase enormously the
amount of cotton they must sell.
We believe iu farmers’ clubs
and alliances that are organized
for social intercourse and for the
free discussion of agricultural
subjects. Such organizations are
improving in the highest degree
and should exist in every agri-
cultural community,. for by con-
stant intercouse all men’s ideas
are quickened and enlarged, and
in social reunions there is much
pleasure.
When planters endeavor to be-
come cotton brokers, merchants,
bankers, exporters, &e., they are
bound to fail, because they cannot
bring to these various branches
of trade sufficient capital and ex-
perience.
When their organizations be-
come purely political, and they
endeavor to influence elections by
introducing measures for their in
terests alone, they must fail, and
Let Us Have Peace.
El Paso Times.
Governor Hogg is going to be
renominated by the Houston con-
vention, despite the most strenu-
ous efforts on the part of the more
conservative element of the party.
The men who honestly believe
that this renomination will be
hurtful to Texas have entered a
zealous and dignified protest
against such action. This protest
should be formally entered after
the meeting of the convention.
It will evidently have no effect
upon the majority bat it may exer-
cise a wholesome influence on the
fnture action of the party.
But after this protest has been
entered we fail to see any good
in persistently warring against
the Governor. Already tl
been too much
campaign. The Hogg men, i
in the majority have been
gant beyond patient enc
but it is time to “ let bygon*
bygones” and go in to fight for
the basis principles of Democracy.
•-----
Tlie Temptation
To go out of doors in rongh
weather is not strong, but we are,
many of us, compelled to face
rough weather frequently. Dis-
eases which arise from a chill are
peculiar to no season of the year.
This is true, therefore there
should be in the closet 6f every
household—what? Not an unmed-
icated stimulant, absolutely de-
void of anything but an excitive
action, but a tonic combining, in
the effective form of an invigor-
ant and an alternative, the quality
of defense against changes of
weather. Hostetter’s Stomach
Bitters has three or four proper-
ties that no other article of its
class possesses. Not only does
it relieve the complaints which it
eventually cures, it fortifies the
system against the bad effects of
changes of temperature, fatally
and too often shown in the dead-
ly form of “la grippe:” it pro-
duces a radical change in the
weakened condition of a system
peculiarly liable to be attacked by
it, and it tends to provide against
the danger resulting from an im-
poverished condition of the blood
and a disordered state of the liver
or bowels.
IIP
mm
9j
ill
1
m
glgg
■ ai
ili
3|
: UllS
V 1
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1
:ym
Pears’
Soap
»Si
!.
.
J
3S
■. ';:if
Could the planters of the South ers’products j and many persons terns; but the great majority do Concluded on Fourth Page.
Why is Pears’ Soap—the
best in the world, the soap
with no free alkali in it—
sold for 15 cents a cake ?
It was made for a hospital
soap in the first place, made
by request; the doctors
wanted a soap that would
wash as sharp as any and
do no harm to the skin.
That means a soap all
soap, with no free alkali in
it, nothing but soap; there
is nothing mysterious in it.
Cost depends on quantity;
quantity comes erf quality.
All sorts of stores seH
it, especially druggists: all
sorts of people use it, espe-
cially those that know what’s
what._
“Any Port In a Storm.”
That’s a good maxim, but it will
not work as a rule in the purchase
of a remedy for rheumatism. Any
of the cheap nostrums will not
effect a cure—iu feet none of them
wiD. Don’t trifle with life and
prolong agony. Get Dr. Drnm-
niond’s Lightning Remedy, and a
’speedy cure is certain. It costa
$5 a bottle, but oue bottle is
worth a hundred of anything else,
and for that reason it is the cheap-
est when a cure is wanted. Sent
to any address by prepaid express
on receipt of price. Drummond
Medicine Co., 48-50 Maiden Lane,,
New York. Agents wanted.
If you feel weak
a.nd all worn out take
BROWN’S IRON BITTERS
m
wfii
m
• <
mmmi
m
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Jacksboro Gazette. (Jacksboro, Tex.), Vol. 13, No. 8, Ed. 1 Thursday, August 18, 1892, newspaper, August 18, 1892; Jacksboro, Texas. (https://texashistory.unt.edu/ark:/67531/metapth730193/m1/1/: accessed July 16, 2024), University of North Texas Libraries, The Portal to Texas History, https://texashistory.unt.edu; crediting Gladys Johnson Ritchie Library.