The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1882-12-07
FINANCIAL.

CHICAGO TINES: When Secretary Folger, in
his attempt 10 relieve the money market in
New York, went TO the extraordinary ledgth OF
offering 10 redeem any 3ls per cent bonds that
might be presented. 10 the amount OF 100000 q,
after having already ordered prepayment OF
called bonds at the rate of lOOOoOOO week, y
was announced thata better feeling prevailed
in Wall street. The better feeling grew out OF
expectations thatwere notrealized, People who
wanted TO borrow money at as low rates as pos
sible for stock operations were the ones who ex.
perienced the bet er feeling They supposed
that the several orders Of the secretary, which,
taken together, amounted to an offer 70 redeem
at once s2O,0o0o0O out Of some Of slQ2 10 OF
So per cents. outstanding, would bring IN the
bonds for redemption at a lively rate, and that
the money paid out Of the Treasury for them
would be promptly invested in stocks or
loaned on stocks. Upon this Eupposition they
traded. But their expectations did not prove TO
be well grounded The bonds did not come In
at a rate indicating that holders were anxious
70 realize and 9ny sVV9y9SO n1, WEI p1s
that the money paid for them went straightway
into the stock market.
The truth appears to be that there has been
no stringency as has been reported. Rates on
commercial paper have been excessive. The
pinch. 80 far a. there has been any pinch at all,
has been confined % the stock loan market and
the secretary has simply been trying 10 use the
treasury 10 help one set Of operators and hinder
another set He seems 70 have deemed
it his duty 10 do what he could 70 c0un-
elections upon .'fhe great properties Of
he country - he has failed. partly because the
depressing effects have been very much less
resented them 70 be. and partly because the
treasury Il not the source from which real relief
i 10 be expected Treasury relief was tried In
1873 by the unlawful issue u " OF green
backs. but Il was quite Intellectual Any similar
attempt % relieve the money market should
money really become very tight would prove
equally futile. Secretary folger had better Dot
try his hand 81 doctoring the money market. lie
her nnffhor the rkIr nor the Medicine that the
case CAS- Z demands.
rIsANcIhL ITE1s
The municipal bank Of ekOpir, Russia, has
failed for over 1900 900. running The whole
The Internal revenue collected At Peoria dur
ing The month Of November amounted 70 tl,ss5,-
ne debt ofMemphis i four and a half MIL
Iona and he Avalanche says Il L incrensing a.
The rate % go oo0 per year.
The United states mlut are reported 80 %
behind IN orders 70 supply silver ten-ceni
Coiiector Robertson has peoeirsd o. fzi %
head-tsr on inmiRrauts collected e. Tie port Of
res York during the paEl three month"; under
DE provisions q he Law passed a. he last ses
glnr u c0nrresa which imp0ees AZ q 81 cents
each o. ever INN grsn, Dioas., " -. so.n
ulea The rrcelDis IN Aurust were E4llt54 m
serterr ter 81 "a % ana n October fl5.eis.
Las year ne prDducfivt INDUSTRY q ne eo1n.
nv va f7.oo.o 90 Co. TIE bqr0r traflc vas
fl.f1aN1Of- laD0r received fllo1 90 90 u
r-Irf " slnfhe ne lrnerIc1n reOrle - - -
he pubic schools c0sttlg9oo 90 ne churches
~ ,o.sI yIsls Of ruid sns snref ~ Eer
weirIrr N ~ flrrrrnfrr 14sl 81 rer1rfe1 ~ ne
rrIrf aintaE rlnfs wns $40 1la1L Dudnr
i.s - - ~, , \. -. = ~ ~ - e..ss sIS5s
= ~ n - r-s.s ne q r.71s-f ne osls ~
- - c1l vi - l1-l1.ied n 80, - Is--.
--'I'I.-~ - rr1I IrIr 1s'r 80 50 II - rEru1I