The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-12-06
FINANCIAL AND COTTON
FINANCIAL

srr,Go TnsEs; When Secretary Folser In
,Vstiempt to relieve the money market In
W Yors, went TO the extraordinary leLgth Of
| .ssrsg to redeem any 81 per cent. bonds that
mi be presented, TO the amount of 100000 ~.
~, having already ordered prepayment Of
VA bonds at the rate of $40, 001d week, Il
y snnounced Ihata better feeling prevailed
wall street The better feeling grew out of
,rsctations thatwere notreali2ed. People who
assrrted to borrow money At as low rates as pos.
,@,e for stock operations were the ones who ex-
si,nced the bet or feeling They supposed
s.ithe several orders of tue secretary, which.
| sssn iosethcr, amounted 10 uu Offer TO redeem
| snce $50 O0t ~ out of some Of Si0a 600. COZ of
,yrer celts. outstanding, would bring in The
Ssas for redemption at a lively rate. and that
N money paid out Of the treasury for them
| s@pd DC promptly invested In stocks ny
sseed on stocks. Upon this supposiuon thew
Tdtd But their expectations did not prove TO
| Swel grounded. The bonds did not come I'm
| \ .rate indicating that holders Were anxious
realize, and only 1000 600 worth were pre-
snNd in three days, and there is no evidence
"a. the money paid for them went straigbtway
MI the stock market
The trpth appears to be that there has been
osiriugene! as has been reported Rates on
numerical paper have been excessive The
inch, so fer as there has been any pinch VT all
las been confined To the stock loan marset aud
he secretary has simply been trying to use the
rsssury to help one set of operators and hinder
uOher set. lie seems TO have deemed
h his duty TO do what he Conld to cam.
trSCt the doprts ing cfltcs of the late
ACTIONS upon the great properties Of
heCOunlTy lie has failed, parity because the
eppssing effects have been very much less
han one set OF wall street operators have rep
psmtel them to be, and partly because tho
nelsnry /, not the source from Which real reIiaf
knbe expected Treasury relief was tried I'm
r-3by the unlawful issue Of o26 600 eUOor grpcu
tackS, butiE was quite Intellectual. ANY similar
ltempt to relieve the money market shOsld
honey really become very tight would prove
equally futile Secretary Folger had better not
~ his hand at dCctoriug the money market. lie
hsueilher Tue skiil nor the medicine that the
ase demands.
FINANCIAL ITpMs.
The municipal bank of skopiu, Russia. hss
hlei for over Ela,OCO 600, running The whole
pvn
hgthe month of Novembcr mounted TO 81. 375
ISIS
The debt of Memphis Is four and n half
Ions, and The Avalanche says IL is Increasing al
be rate OF $40 cooper year.
The United states minis are reported 10000
behind in orders to supply silver ten-ceut
pieces.
Collector Robertson has poceived $40 l2l SIS
hat.lax on vdotgrants collected at the port of
New York during the past three months under
Ae provisions of the law passed ut The last SEES.
alu otc0ngress. which imposes a tax Cf5O cents
Zach on every immigrant brought 20 this coun.
by, The tax is paid by the steamship cJmpa-
MES The receipts in August were sli, 1875 go in
September SIC 6Gi50 and In October Sl56lS
Las. year the productive industry of the coun.
tT was $780, Geo. the liquor traffic was
ili9}N9OO labor received 81, 100 coo, OCO; IL
cost to 9lothe the American people, S8aS OOOOOO
!aaplbic schools costslOO,Q0 600; the churches,
BQ0lQO,
I The Total yield of gold and silver for New
Mexico up to December, 1884, as reported by the
lntd States minis, was ST. los, 1lO3l. During
Title over two months of the present year more
han $4,000 were taken out of one camp alone
hthat territory.
Aihc present. rate Of payment the debt sub
lNticcall viii be liquidated In about six years.
Two bundled and fifty thousand dollars is not
subject to call until 1891 and $685. 81, $50 cannot
epaid, except at the pleasure of the holders,
until lgT If the government wishes to extin.
glsh any portion of the 900 bonded
AOt due At the present date and before 1t ma
t'es II will have TO go into market and pay the
market price for its paper The total interest
eealng debt on the first OF April was 91,5lg,-
1850 The balance is mad up of legal tender
noles sSi6 40, S)l, and other items not bearing
lNfest amounting In all to sl5l, 363,Gjl.