The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1880-07-09
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MONEY AND AIDE NOTES.

Texas, which tummenced raising wool in
1S45, has now T. 100000 sheep, and it ia esti
mated that Montana will produce 100000
pounds of wool in 1880.
With reference to the California crops,
the San Francisco Merchant says: There is
nothing new to say about the wheat crop now
being harvested. Some estimates are made
below the figures we have given--7000 900
tons for export with "A chance of SO 900 tons
more. Those who make the largest estimates
ore not ) emphatic in backing their views as
week ago. But we still believe at our
valuation will prove tolerably near the
facts"
A late Liverpool letter contains the follow
ing account of the crop prospects in England,
Scotland and Ireland: capital accounts
continue to be received from nearly all parts
of the kingdom of the progress being made
by our crops. The weather has, so far, shown
most of the characteristics Of dripping
June with just enough of hot fine days this
week to warrant people in believing that the
two hot months to follow will be what we de.
sire, and make the old proverb complete by
putting all things in tune. The wheat market
steadily progresses downward, all things be-
ing against it just now, but maize has had a
sharp rise since the beginning of the week."
The Commercial Reporter, speaking of the
Oregon wheat crop, says: "All advices re-
port the crop outlook Of the most encourage
ing character. The quality of the grain will
be greatly improvei. From east of the
Cascades all reports concur in giving the out
look favorable to an increase of from 100 to
200 per cent, and as the railroad facilities
will be increased, the crop will be removed
from there this winter. Our returns give the
outlook favorable to an increase of about
10000 tons surplus over last year, or a sur
plus for export of from 275,000 to 100000
tons, not including that which will 60 to the
sound. The consumption with US will be
about one-third more than the season just
drawing to close"
The average wheat production of the whole
of Europe is 62,766,l50 bushels, while that
of 1879 was only 7639S7 500 bushels, being a
falling off of l9S,37S,650 bushels. The aver
age yield of the rest of the world is estimated
showing a decrease of 17S 100000 bushels, or
The crop of Australia in 1879 was l4,650,000
bushels, being l,l500OO bushels in excess Of
the average crop of that country. The yield
III MI OIDtE COuHlTlce, cACtpV Sdilaua dilN LuS
United States, fell below the average.
The Pittsburg Stockman of late date says
"And still wool don't go. And itdont seem
likely to until the buying interest makes
some strong concessions. But in the end
the staple must be transferred from the
grower to the manufacturer, and this trans
ter will be consequent upon somebody weak
ening. The absorbing question is-who will
yield? 1t seems 10 us that the real advantage
of the situation is with the farmer. AS
general thing, wool-growers are not com
PEELED to sell just now, us times are easy,
money is plenty, and there is no great me-
cessty compelling them to realize on their
clips at an early day. An experience some
what similar to this occurred in the spring Of
1871. Buyers offered 80 to 40 cents, and
sellers demanded 80 cents; and there the mat
ter rested for weeks Finally the growers
triumphed, and the bulk of the fleece was
taken at the latter figure We do not say
that will be the case this time, but it can
certainly be considered among the probaeili-
ties"
At Now York the July disbursements for
interest and dividends are est mated at near.
ly S4S, 100000, ut Boston over Sl364000l, |
and at Philadelphia about S12000000. |
These heavy payments must add materially
TO the large supply Of money on the mar
ket, y very large amount of these interest
payments and dividends will naturally seek
reinvestment. The government will pay of
interest on the public debt this month, ut
y cent. an aggregate of S7,260,000 and at /
Z cent. quarterly on the new 4 T. cents over
81, 40S, 900 more. OF this amount some Sl0,-
100000 will be paid on registered bonds,
about S6,0O0,000 of which will be paid out at
New York Sl,S0O,0O0 at Boston, 100000 at
Philadelphia, S205, 900 st Baltimore, $780,
900 at Washington, $4,000 at Cincinnati,
SOS, 900 at Pittsburgh, $58.000 at Chicago,
S47 900 ut San Francisco, and smaller
amounts at some other points, The coupon
interest will be distributed in about the
same proportion. In addition to the coin in
terest there will be paid in currency. on &C
count of interest due on S64623,512 of Pa
ciic railroad bonds; in New York, over 81,
500, 900; Boston, 100000, and Philadelphia,
$50, 600, the total being over Sl,900,000
The following is a statement of the United
States currency outstanding June 30:
Old demand notes, all issues. GJ,975 90
Legal teGder notes. ..............3 i6 GSl 0lG 90
One-year notes of lS63...... E. 4i,.6l 90
Two year notes of 1903. ...... go. IL 100 %
TWO-year coupon nOles OF lSbj,,. $3.50 W
Compound interest notcs.......... 1850 10
Fractional currency, all issues. 1880 sG2 10
Total $780, ,65o OO3 20
The comptroller reports the additional ma
tional bank circulation issued during the
month of June 10 be S4S3, 6lO; the amount
surrendered and destroyed, S1,14l, Ole
showing decrease of circulation during the
month of $67S306. The net increase of ma
tional bank notes during the fiscal year end