The following trade statement, issued from New York on Saturday, September 15, showed the effect of the great storm in commercial circles:
“The tropical storm that devastated the gulf coast, almost wiping out the city of Galveston and doing damage in other parts of the country, caused reduction in the volume of business at the South, and railroads in the gulf region have probably not shown their maximum losses of earnings as yet, but even after such a catastrophe a recuperative power is shown.
“From many quarters of the West and Southeast a better distribution of merchandise is reported in jobbing and retail circles. The weather has continued favorable for the maturing corn crop, with cutting progressing and the crop generally beyond danger, but damage to cotton by the storm is still an unknown quantity. Prices of staple commodities are higher for the week, hoisted by the sharp rise in cotton, but in manufactured products there is little change, though steady increases of business at the current level is satisfactory.
“Cotton closed last week at the highest price in ten years, and a large short interest was awaiting reaction. Instead, there came news of the disaster in Texas and sensational reports that 1,000,000 bales had been destroyed. At the New York Exchange trading was far in excess of all previous records, and prices rose by bounds. Subsequently there were less exaggerated reports from the South, but the market failed to respond and middling uplands advanced 11 cents.
“The rise in the raw material caused sharp advances in cotton goods. In one week standard brown sheetings rose from 5.67 to 6 cents, wide bleached sheetings from 20 to 21 cents, standard brown drills from 5.67 to 5.87, and staple ginghams from 5 to 5.50 cents. Buyers who have been delaying for weeks are anxious to secure liberal supplies, both instant and distant.”
TWO APPEALS WHICH BROUGHT MUCH MONEY.
Two appeals for aid which brought in much money were the following, the first one being by the G. A. R. and Women’s Relief Corps, Department of Texas:
“The appalling calamity that has befallen Galveston and the coast country has smitten hundreds of our comrades in the city, villages and on farms. In many instances, portions of whole families are lost; in a hundred others, houses are wrecked, live stock killed and crops destroyed.
“George B. McClellan Post of this city is doing what it can, but its efforts are all inadequate. Systematic organized assistance alone can avert distress, and we therefore appeal to the members of this department in behalf of these comrades. They had made their last stand and effort to secure for themselves and families homes on the coast country of Texas. Their all is involved. Far along in the evening of their life they cannot recuperate.
“If there was time to make another crop they have nothing with which to make it. Unless we help them they must abandon their homes, their all. If the principles of our order—fraternity, charity and loyalty—are of any avail, it is time to show it. Fraternity means organization—charity means everything and is the ‘greatest of all.’ Loyalty means standing by our comrades as well as the flag. They were our brothers in arms, they are our kindred in adversity.