The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-04-04
FINANCE AND COTTON.
FINANCIAL.

TuK control of the Mutual Union Telegraph
Company has passed into the hands of friends
of the Western Union Company, and the two
svstems will be operated hereafter in complete
harmony. No attempt TO unite the companies
more closely will be allowed at present butby Sc
curing control of the rival line the friends of the
Western Union have removed all danger of ac-
live opposition to that company The negotia-
tons which were brought 10 successful issue
last night have been in progress for several
mouths Jay Gould has brought $3.50,
shares of Mutual Union stock, and George
r. Baker president of the First Ma
tinuul bank and George Scott own enough more
stock TO make the wholeamount 5000 shares, The
entire capital stock of the company is $4,000 Geo
so that these three men own an absolute MAORI.
try They haye.united In an arrangement by which
The Mutual Union will be operated entirely in
the interest of the Western Union company
The agreement was signed on the 30th inst Tho
81 600 shares Of stock have been placed IN one
pool and under certain restrictions will DO used
Ia insure harmony between the two companies
The litigation in which the new com.
pany had become involved is 10
plans Of the present management but only so
far as the eX enSions will be TO the ad
vantage of the Western Union
The business of the new company will he de-
yelopcd to the full capacity of its lines, far as
they may be considered part of one vast system
In effect the lines of the Mutual Union company
will be operated precisely as If they formed u
part Of the Western Union system,
AREylEw of the returns from tho clearing.
houses of the United States for tine year 1851 Sx-
hibits an unprecedented growth in the financial
transactions of the country. The number OF
banks belonging To the twenty eight clearing
houses In the United States during 1881 was 446
with n capital of S226 66I. 25i aud surplus
amounting to S79,6C9,0li, against l37 banks
with capital Of 800 43,7ll, and sur,
plus; amounting to ,s96767927 in 1850 The total
exchanges for 1881 amounted to 1850 SIS, 6SI
being an increase OF u. per cent over those OF
the previous year OF these Sig, 376 So $50 were
AT New YORK, being an increase of 20 per cont
over the previous year, and 81, ,6g s02 out
side Of New York. being an increase Of 2S7 per
cent over those OF the previous year. The nom
inal cash required to effect these exchanges was
O2A, 25l, being only b,s5 per cent of the
whole. At New York. however, the cash re-
quired 10 balance was only 3,55 per cent. of the
exchanges, while outside of New York 1t was
1883 per cent. The total exchanges Mt the
various clearing houses since their establish
ment up To December 81, 1881 have amounted to
Sl65SlI, $40 $50. The balances paid in settlement
OF these enormous transactions may be esu-
mated at not oyer So coz. C0O,0O0 in round num-
beers, or GA per cent of the exchanges but the
actual cash employed has been considerably
less than this, us only part of the balances are
paid in money, These figures show not only
The wonderful growth of business activity, bn,
the extended use made of the instruments Of
credit in ellecting mercantile transactions
PROMINENT New York booker. discussing
the Nanderbilt.G Gould alliance, said ut IN
pretty evident that Messrs. Vanderbilt and
Gould have an intelligent appreciation Of the
future and are willing to back their opinions
with their millions. OF course 1t would be
prematu re to make public any details of their
prevent some inkling of them from leaking out
and from what have heard | am satisfied that
the whole world will be astoundcd at their
magnitude and COmprchcnsiyeness. In general
terms believe they embrace, first, practical
consolidation of the Vanderbilt trunk lines, in.
GLIDING Northwestern and possibly Union 4
Central Pacific; second, similar arrangement
for the Gould properties, making n great south
western through route to tho Pacific; third II
money pool among the coal roads, which will
regulate production so as to insure reasonable
prices to consumers and regulate dividends &c
the producers; and, fourth, consolidation Of
the telegraph and cable companies, Il transfer
of the same to the government, and posta
treaty between the United States and Grea
Britain, under which the people of both coun
tries will have ample telegraphiC facilities at the
lowest possible rates"
SENATOR SHERMAN, speaking of the ambigul-
ties of the existing sugar tariff declares that the
artificial coloring of sugar has defrauded
the government out of s., OO0. e00. annually
On April LIST the clearings in Chicago were
Unexpectedly large, being ST., 600 O0l, making
sOoOOOOO for the week. aud sllo, 0JO, 900 for the
month.
The Mexican mercantile bank was opened on
the 18th with sLOCO,OOO OF paid-up capital 1
will issue 81, 800 900 in bills aud open branch e.
in the principal cities. II is under the manage
mcnt of natives,
The remarkable fact that over IS per cent o
the amount collected in Cincinnati from license,
has been lost through embezzlement and IA III
per cent expended for the cost OF collection
making q total OF ~ 40 on the small amount,
collected, Is sufficient evidence that radica
change Ike that proposed by Mr.. Russell is re-
quircd.
The question of u new bankrupt law VIII com
up for debate in the senate next week. There |
great deal of interest throughout tho countr
manifested In the passage of II competent bank
rupt law and II is very likely that this session
Will satisfy that interest The house judlciar,
committee will report favOrably what Is know
rs the Lowell bill This bill win be substituted
in the senate for the Ingalls, bill whca the do
bate comes w next week.