The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-01-24
AND COMMERCE.
FINANCIAL.

CONCERNING the condition of the financial
institutions of New York the Daily Indica.
tor makes the following report: 1.-The
movement of money from the interior and
the very general liquidation of accounts
that has been made since the beginning of
the year has restored the banks to condi-
ton of strength not held by them ut the
same period in any year since 1879, as
shown by the comparative statement of the
condition of the New York clearinghouse
banks in the early part of January for
three years, and for the week ending Janu-
AIRY II, 1882. a review of the loan market
at the beginning of each year since 1879 pre-
scnts u close concurrence between 1t and
the statements given out by the banks.
In January, 1870, cali loans were
quoted at to per cent, and prime COM
mercial paper at A to for the saIne
month in 1850. Call loans ranged at per
cent. TO & with / per cent. commission
added, and commercial paper 81 to 6, At
the same time in 1881 call loans were fully
up to the legal rate and commercial paper
was quoted to 81, At the present time
call loans are quoted to u and commercial
loans ut A. to &. Considering the inCreas-
Ing demand for money, the present rates
for loans compare fuvorably with the period
mentioned in the past three years."
THE House Committee on Banking and
Currency to-day heard Representative
BuCkncr in opposition to Dingley's resOlu-
ton advocating the continuance of the
national banking system, after which u vote
was demanded on the resolution, resulting
in its adoption by nine against two negative
votes cast by Crumm and Buckner The
Grape bill TO enable national banking asso-
pi inne N Ayippl Ihnir si.t
was referred to Il subcommittee consisting
of Messrs, Grape, Dingley and Harden
burgh.
The net profits of the Bank OF England
are Sl35 600 week, or about 81, 500 day.
Carrying the calculation little further, the
profits are $500 an hour, taking the money
day to consist of six hours. Such an aCcu-
mutation Of wealth in one body or corpora.
ton must tend to make somebody poor.
And SS,OOO,OOD u year will make n good
many rich one. richer still
During lhe year 1881 the Connecticut
Mutual Life Insurance company has sold
for 500, 92251 real estate costing $3.50
$500 and valued by the commissioners IN
1879 NJ only $1Gl, 3H02, the gain over cost
being Sl2G,063.5j, or 10 per cent, and the
gain over the commissioners valuation be-
ing Sol ,5SI65, or 20 $40 per cent. Only
one piece sold below cost
II costs the neat sum of 100000 q day ~
run the Government. Nobody need feel
poor over this statement, however. Our in
come is over 5 100000 per day.
The Treasury Department received for
interest during the current month, $lO.-
$1,000, and $4,000 in redemption OF
bonds. There nre 100000 standard silver
dollars in the Treasury, and $1,000, 600 silver
certificates outstanding,
At the close of business last Saturday
there has been redeemed at the Treasury
Department SlS,02O, 200 in United States
bonds under the l0jth call, and Sl0l OjO
under the lOGth call.
There are so tons OF silver coin of the
value of so dJu0OO and III tons of gold OF
the value OF so 100000 in the Treasury.
New Jersey has assessed her valuation
for taxes at $52I 100000, the county OF
Newark being set down at over $l0S,O 900
The value of taxable property in Ohio /,
Sl,5S7 ,201 so.