The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-06-03
FINANCE AND COTTON.
FINANCIAL.


GoIp is being exported from this country at a
owing 10 the turning Of the balance Of trade
srainst us, and there seems no hope of checking
he outflow till another crop is made and ready
for the market But in casting up this balance
~ trade, there is an inyariable failure TO take
into account the immense revenue of immi-
grants constantly arriving. This Is clear gain,
doesn't cost cent and should be charged to the
credit side of the balance sheet. While we get
70 Europe, the countries of Europe
get no return whatever for the men
expor,ed to America. Now eacf
Immigrant is estimated at money value of ST..
0OO and $4,000 are equal 70 sSOhv0H000, nearly
as much as the whole amount of American ex-
ports. should the balance of exchanse Of CON-
mercial products turn against us to the extent Of
$4,000 ,000 in other words, should we be COM
PEELED to send abroad $50 COO 900 In gold per an
nun, to pay for whatwe buy, this inflow of i'm
migrants, Tor whom we pay nothing, would still
bring us out even. The whole amount of specie
in the country is something over 5000, 000, 600.
When this was exhausted, our transatlantic
cousins would have to credit us for the other
two hundred millions, but the $500 goo GOO worth
Of immigrants would still come. The country
wouldn have dollar of specie in IL, but we
would still be richer by s2OoooeOoO worth of ac-
tual property.
The election of the new board of directors of
as follows; John g. Moore George + Baker,
George w. Ballou. Jay Could Russell Sage,
George s. Scott Harris G. Fahnestock George
G. HIven, George Gould, George A, Holt and
Charles +. Peck.
The election of Gould and his friends to the
board of directors Of the Mutual Union settles
the question Of the future relation of the two
companies, They are TO be friendly and coop
eratiye and conservative In business. This cleo
ton was freely made without the presence of
nnrt11 NJ n M IrvinUtnn Wagtaru
telegraph company has scored another import
ant business victory Since the leasing of the
cables and the formation of the pool that COM
pany has been looking to permanent establish
rior lines leading into London have now been
confined to the Western Union.
A NEW YORK paper says the exhibit this week
Is the most unfavorable one that we have ever
had occasion to record The depression which
has so long prevailed in eastern business cen
tiers appears to have spread out and affected all
parts OF the country Even manufacturing GEN.
iers, which, backed up by high tariff, have so
long withstood the adverse influences atwork In
other sections, are beginning TO show marked
falling off in buflness. In few points are there
any signs of special activity In the distribution
of general merchandise, and the industrial out
look is far from a favorable one. The total
gross exchanges in twenty-five leading cities,
from which returns have been seceived, foot up
sSSSO05, 975, against s97S. 1916 In twenty-five
cities last week. The percentage Of decrease
during the week Is 1912, against q decrease of
Si3 last week and Ills the previous week;
By an instrument filed for record In the
registers office, last week at New York, It was
shown that at a meeting of the stockholders of
the Mutual Union telegraph company, held u
year ago, in May 1881, the directors were EN-.
powered to borrow e5,00O000 for the purpose Of
extending the lines Of the company The In
strument gave to the Central Trust company a
first mortgage on all property of every descrip-
ton belonging to the Mutual Union company as
security for the payment Of 5000 8 per cent
bonds, aggregating s5OOO,0oo. or s1,00O each,
which will come due 1911.
The Boston Transcript makes mention OF the
following curious feature of the exchange bust
ness in the price Of English soyeregns. At this
season of the year gold soyereigns are In good
demand for American travellers going
s sSov sig6texchanse bills because Of their
greater con venience. They ought from intrinsic
worth to rule to-day at $3.50 TO sty2, but immi-
grafton is now bringing them to this country In
such quantities that brokers are selling them at
S4si each. though American travellers go out
with their pockets full Of them in each steamer.
The imports this year at New York have been
sos 1884, So an increase ofs3l, 600 the cor
responding period last year, leaving heavy
balance to be paid with produce, gold or bonds.
The imports for last week were much heavier
than usual owing to the arrivals of number Of
delayed vessels. The total was sll SIG $50, ofwhch
sQ,97l, 100 was general merchandise, and the re:
mainder (slS5,9ig dry goods. The principal
items were sugar, Of which q, ls9, AS was re-
ceived; coffee, tl,l52,34i; India.rubber and un-
dressed hides 81, 1924 Since January the
imports amount to s20S, 1884, 49, against $i77S0l.-
iiO for the corresponding time last year. This is
apretty heavy balance against us for the year
so far, which will have to be adjusted between
now and autumn, either by produce or specie
shipments or American securities.
The syndicate which held an option till July
upon s2,O000J0 Of Northern Pacific per cent
bonds, has taken thom from the company, max
ing SIS 200, 900 marketed by the company out Of
the $40 1000, 200 loan.
The state debt of New Hampshire Is q trile
over IS. 100000. TWAS reduced az, 200 last year.
and the reduction for the present year. 1t Is esti
mated, will reach $4,000.
DALLAS EXCHANGE AND COIN.
N.Y. Y Buying; Selling, =. BuyIng, Selling
Chicago. .Kg4ParaA N. h9SPar@k
Galveston X Par@A Houston..k Par@A
=, Exchange, all points \ ton discount Sterling
Sight 81 IS Francs, sos 10. Marks, Is
Trade dollars. .9Octs. Mexican dollars. .Goct