The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1881-12-15
FINANCIAL.

THE New York Sun shines.on the stock
market in the followin G manner: Every
body is afraid to buy, and but few specula
tors have the courage to sell short The
commission brokers have to hunt for orders
all day long, and, when they get any, il
turns out half the time that the orders OBJ
tained are of a very inconvenient character
either of short sales of already oversold
stocks, or for purchases of stocks upon
which the banks lend but very little
or nothing at all. The bulk of the
money of the country finds easy and
and. profitable employment in legitimate
business, while the owner of that portion
which.is laid asideprefer bird in the hand to
two in the bush, and stick to governments
and first mortgage bonds. The fact that all
railroad interests of the continent have been
concentrated in the hands of a half-a-dozen
individuals has frightened the investors
away. The situation seems to be considered
critical, even by the confident Britisher,
who was but q short time ago so anxious to
intrust his savings TO American enterprise.
The Daily Telegraph, of London, had re-
Gently u long editorial in which the state of
affairs in regard to our huge monopolies was
analysed in way by no means
likely to encourage fresh in
the securities OF our corporate institutions.
The press abroad has grown to understand
that men like Vanderbilt Gould, Scott,
Garrett and Huntington are practically be-
yond the control Of any power Full JUS
tice is done to these men, in comparison
with WHOM all statesmen and legislators
OF the United States are declared to be pig
mics But the criminal folly of allowing
Few individuals to tax 5Q,600,O00 of peo-
pie at their pleasure, and to place the
whole business Of the continent AZ the alb
solute mercy of a few INSCRIPTIONS monop-
olists, is pointed out in uncommonly tell
ing language.
PosTMAsTER-GENERAL JAMES in his late re-
port, urges the establishment of postal
savings banks, which have been tried with
SO much success in England and which will,
no doubt, answer good purpose in this
country. Under the operation of the Eng
nth system deposits are received at all
money order offices. No person is allowed
to deposit more than $3.50 in any one
year, nor to run up total of more than
800; any less amount from shilling
upward will be received and interest at
the rate OF q per cent. is paid from the first
OF the month following the date of the de-
post. When the depositor wants money
ne IS not Obliged to draw from the Office IN
which he has deposited, but can get it from
any postal bank in the country. A deposit
tor can have postage stamps placed to his
credit in these banks by FASTING twelve
stamps on a paper that is furnished by the
postal authorities. When it is considered
That IN many sections of the country there
are no such institutions as savings banks.
the utility of the system recommended by
the Postmaster-General becomes apparent.
OUT of a total value of the exports from
this country TO foreign countries in 1879.
amounting TO $777, 093777, we received for
the direct and indirect product of our soil
S6Oi 100, a02; and in 1880, from the aggregate
declared value of our exports, amounting to
SS23,ai6, 1853, SAG, 1857 ,052 were realized from
these same products, thus showing that out
oil total value of exports for these two of
our most prosperous years, amounting to
$l,Gq ,04Ol30: 81 1851, IA, IA was paid MS for
our direct and indirect agricultural produce,
leaving only the comparatively small sum
OF Si9O,9l5,6S5 as the amount realized for the
foreign sale of all the other combined pro.
ducts OF our industry.
In January next interest falls due on the
outstanding continued G per cent. bonds
amounting IN the aggree'c to about 81
10000; an the OUTSTANDING per cent bonds
amounting to about S7,3S7 ,Och, and on the
currency Is outstanding iouunut 81, OBS 900.
TO pay the interest on these loans requires
the filling out of about seventy thousand
checks, This work has not yet been begun
but will be within the next few days. Treas.
nrer Gilillan says he expects to
have the checks ready for mailing
by the 9th or Goth inst. 1t has
not been customary to anticipate the
interest due on these loans beyond period
ola few days. Whether it will be done
this year has not yet been determined.
Secretary Folger says he has not yet con-
sidered the matter.
The total liabilities OF the banks doing
business in the Dominion of Canada OH
October 3lst, us reported to the Finance
Department, were Sl37 l90, 400 and the total
assets $2ll ,55l ,265.