The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-28
FINANCE AND COTTON.
FINANCIAL.


r,,r New York World thinks there are several
~ reasons foIthe advance in stocks, the great
t.cine which had taken place being alone suf-
seient TO induce shreWd men OF means TO be-
sne huyers though other and still more i'm
W..snt considerations are at the basis of the
w purchases of railroad bonds and shares,
mbIeh have recently been made, The railroads
north east south and west-shOw a steadily
,ncressing traffic, and the open Winter has re-
dueed the cost OF operauhs the toaus; foI tne
srSt two weeks of March the gross earnings have
heen surprisingly large rs compared with those
AZ The same period in 1881, even after allowance
ismade for the loss Of business last year result
inc from the snow blockades, The World thinks
;here Is reason to anticipate continuance of
heavy traffic during the spring months, The
arm prospects are most 1attering, both for
cotton and wheat, and the Hoods in the south
and southwest Immediately mischicvOus as they
have bccn are likely to lead TO the largest yield
If cotton ever known in the history of the
country. Next in importance, rs affecting the
prces Of railway securities is the steady dis
placement of money caused by the rapid re-
aemption of bonds by the general government.
During the next sixty days the treasury will
probahly pay OF si5 900 600 of called bonds,
part of which will, of course. be reinyestcd in
government bonds, while still larger part will
be used In the purchase of other securities. On
The LIST of April w. 1857 00D will be disbursed by the
treasury for interest on the per cents and some
Ofths money Will also seek the stock exchange
for Investment When to all these favorable in
nuences are added the activity and prosperity of
the manufacturing interests, partly reflected in
the steady increase of the bank exchanges in
tho great manufacturing districts the World
thinks 1t will be seen that there is abundant
room for Il material advance in prices on the
stock exchange
THE New York Times prints Wall street
yarn to the effect that Jay Could and Russell
Sage have quarreled Sage, according to the
Times, was not ready TO have stocks so up so
rapidly His sales of calls were made on the
understanding that prices would be advanced
gradually, and the sudden jump in the stock
market compelled him to buy stocks at quota
tons which sadly demoralized his bank account
Sage requested Gould and Vanderbilt 10 call II
halt They informed him that the market
must go up at any expense" saRes call for a
halt in tho bull campaign was served upon
Gould and Vanderbilt Saturday night and the
refusal of the combination to respect Mr.. Sage's
calls was promptly forthcoming Mr.. Gould
and Mr.. Sage are said to have INDUCED in II
personal interview of an exceedingly entertain
ing character.
PROMINENT among the officials of the English
Association Favoring an International None
eIary Standard are the present governor of the
Bank OF England and his Immediate predeces-
sor in that office. The following are among the
resolutions adopted at the Mansion-house meet
ing on the Sth instant:
"First-That the contraction of the metallic
baSis of the worlds currency by the exclusion of
silver from its natural functions a. domestic and
International money Is to be deprecated, as likely
to render disturbances in the buying power of
gold Second-That it is of paramount impOr-
lance to England that silver should constitute "a
part of the standard of value of civilized ma
tons, seeing that the greater portion Of her
trade is with silver-using counties. Third
That the commercial interests of England cam
not be separated from those OF the world and
that therefore, I'M international agreement In
Paris is most desirable, and deserves the support
OF her majesty's government"
THE house committee on ways and means
adopted, bya vote of 6 TO 3, the following resolu-
ton
Resolved, That the subcommittee on change
In the internal revenue he instructed to report a
bill aboliShing all internal revenue except the
tax on distilled liquors, malt liquors. and manu-
featured tobacco, and the taxes on bank Circula.
ton, on alcohol medicines, leaving for their dis
cretion u reduction of the tax on sugars and
special ta on dealers, manufacturers, etc,
The following is the vote in detail: Ayes
Kelley, sherman, kasson, Dunnell, Mckinley
Hubbell and Baskell-6 Nays-Errett Randall,
Tucker, Carlisle and Speer-5. A motion to
amend by inserting provision cxempting the
sale of leaf tobacco from taxation, was rejected.
M voting against the subcommittee report
Chairman Kelley said his vote was cast In accor.
dance with the recent action of the republican
caucus, and was contrary to his judgment
TMB Evening Post having published In m
carly edition that Jay Gould and associates had
secured a majority of the stock of the Mutual
Union telegraph company George william Bal
lou identified with the company from the start
sent word TO the Post contradicting the state.
ment and In proof of his assertion cited the
fact that the entire share capital 400 900 shares)
is held In trust The Post answers I'VE can
only account for the statement of Dallou on the
theory that he may not know who are the real
owners OF certain lots OF the Mutual Union com.
pany's stock; while Jay Gould personally owned
not over 25OOJ shares of the company's stock his
associates own enough to make a total of 500
shares; or majority of 1000 shares"
The Post also says: Its understood, although
we have been unable to obtain explicit author.
lily for the statement that negotiations are pend.
ing with the Baltimore 4 Ohio railroad company
Tor the purpose OF bringing the telegraph lines
owned by that company into harmonious rela
tons with the Western Union, and that entry by
the Baltimore 4 Ohio railroad into New York
over the Central railroad of New Jersey is one of
the subjects considered in the negotiation with
the Baltimore 4 Ohio people. If these negota-
tons succeed, Western Union will have again
removed the only important obstacle to It's prac.
Teal control Of the telegraph business OF the
country.
THB imports OF merchandise ut New York dur.
ing the past week show decided increase COM
pared with the week before, their total being
ell ,Ssi 92s, of which SLg2i i2i was general mer.
chandise, and the remainder dry goods The lat.
ter are coming In freely, but the increase was
chiefly In general merchandise Since January
Isl the total imports At that port aggregate sO6,-
3l205, compared with $50, ass $50 for the CORES
pondng period of last year The exports of
specie during the week were rather light
amounting to but s26l23j all silver, except
sl,000 gold
DALLAS EXCHANGE AND COIN.
. Buying. Selling, Buying. Selling
n, Y. tx, ht6SPar@s St Louis ,H0aPar0a
GGa airass;n S@APpsr@s \: O.. h@S parsA
Exchange, all points X to Y discount. Sterling
sight 81 ~ Francs, sos 10 Marks, %,
Trade dollars scots. Mexican dollars scots
Mexican halves. iocts. Mexican ouGrcetS. lhcts