The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-03-11
FINANCE AND COTTON.
FINANCIAL.

average loss ratio was less than IS per cent,
even after allowing for $500 600 more unpaid
losses in the statements this year than the
wear before-which is due to the heavy fires
In the last week or two of 1881. A year ago
seventy-eight companies existed in that
state and made their reports Since then
seven companies have withdrawn-a larger
number than have disappeared in any one
wear since 1871, when the Chicago fire
wrought such wholesale ruin. L. is note
worthy. too, that the state OF New York
has not had so few joint-stock fire insurance
companies as now since 1885, when sixty
nine reported. Meanwhile, the list
has contained 1903 names lin 1850;
reduced to eighty-five in 1871; increased to
102 in 1874, and since that year gradually
becoming fewer until only Il remain. The
seven companies that have withdrawn since
January, 1881, are the New York City, Hoh-
man, Northern, Columbia, Lamar, Lenox,
and Republic. Although the capital now re-
ported Is lessened by $3.50 600, the Il com
panies now report nearly $4,000 more
assets and nearly $500 900 more net surplus
than the entire rs did year ago. And,
strange to say lin view Of all the fires, the
II survivors report now some $i0O 600 more
net surplus than these same II reported u
year ago.
TuE senate judiciary committee re-
ported a bill to establish uniform system
of bankruptcy, and twill be called up for
consideration as soon as the pending order
any person without fraud shall be
come involved in debts and liza
bilities beyond the means of pay
ment, amounting to $500 and upward,
he may apply, by petition in equity, to tn 0
United States district court, setting fort h
the cause of his insolvency and giving u
schedule of liabilities and assets, and may
surrender his estate for the benefit of cred
itors, except such as may be exempt from
execution, and, il good cause appear, the
court shall adiudge him bankrupt, and
appoint receiver, and serve notice to all
interested persons, and distribute the es-
tate according to the rules OF equity, and if
there was no fraud, the petitioner shall be
discharged as bankrupt; that when n per-
son runs away, or absents or conceals HIM
self, or makes fraudulent transfer of his
property or otherwise attempts to defraud
his creditors, the latter may file petition
for bankrupt proceedings against him.
Insolvency shall exist only when the
debtors liabilities exceed the value of
his property. Powers to extend the time
or to stay proceedings are conferred upon
the court. Any conveyance, transfer, or
pay illbut uui ISCtlNtu Ill NlCW VI lut
bankruptcy, may be set aside If found to be
contrary to the just rights of other creditors,
but the money obtained and used in good
faith, though unsuccessfully, to avert an
impending bankruptcy, or to save threat
ened sacrifice of property, or for sickness,
or for other like necessity, may be pre-
terred in payment or security by the court.
If it appears that any creditor has oppres-
siyely sought to force debtor into bank
ruptcy, or to obtain any fraudulent advant-
age over other creditors, the court may
deny such creditor participation in the
estate. District courts shall be considered
as always open for the consideration OF
bankrupt business. and all regular bank
rupt business shall have precedence.
The merchandise imports of the United
States for the year ending June 80, 1890
were valued at S667 ,954 ,7l6, of which sos.
sol ,S63 were in its free list. For the year
ending June so, 1881, the merchandise i'm.
ports were $6i2 ,66i CPS of which 500, 491 :
5i7 were on the free list. The domestic
merchandise exported was valued at 1898.
9i6, 1853 in lS79-S0, and 1888 9l5 ,9i7 in 1885,
The foreign merchandise re.exported was
valued at $ll Coz, 305 in 1S79-S0, and $751;
45l 800 in 1SS0-Sl. In the latter year our
exports to Great Britain and ireland were
NdiuSu Nv Stf ,fJJ,Oiur w Fiubtt, FOb,Oft,-
100; to Germany, SOS, 1853 ,571 to all Europe
and Turkey, S755 800, $685. to West Indies
and countries in North America, $76,457, ).
266; to South American countries, $24 COS,
30. The values of the chief articles of ex.
port were us follows:
Indian corn s jO,7e2673 Pork :, -. s ss72, 2SI
Wheat. -. ,lG76gs4s5 Leaf tobacco. ls 737, Og
Wheat Hour. b,0i7257 Boards, clap
Raw cotton .2i7,695.7iG boards, etc. s. 1872 o6l
petroleum ASlT6S2 Horned cattle 1i3I, To-
Bacon and Cotton yarns
hams ,u.,. 6l,l6i,2a5 and manu-.
FRESH beef. o.S6OiS features of
saltand cured cotton ..." ls57S,2S;
beef..,.... 2665.6ll Miscellaneous
Butter .....,m G,256u24 machinery
Cheese 49," 1885, iS and manu-
Lard ..,t.,.,,. 3o,22t,5b features of
Preserved iron DC. ,. 1921, I'd
" meats 900, a97l,9JS Leather. 7l537l4
The foreign commerce ofthe port of New
y ork for the week ending Saturday last
showed q large excess of imports over ex-
ports of merchandise, the former amount.
ing in money value to $l0603, $40 and the
latter to only $500 1874. The total imports
OF dry goods and general merchandise from
January to date are SlS,46i, 55S, against
Sl6,R37 ,5B for the corresponding period last
year. The specie movement for the week
was very light, embracing exports of $780,
100, chiefly silver, and imports Sl56, 100,
nearly all geld coin. The total exports of
specie from January to date are 1887 $50,
against $397, S6S last year, and imports OF
specie for the same period were 1894 ,347,
against Sl,77G,5 $50 last year.
The total imports at New York in 1881
uncluding speoie) were Si95, 42I 800, being
about two.thirds of all the foreign goods
landed in the United States during the
year. and the total exports Including spe-
nial lpsk hnt,,., ukn