The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1882-05-25
FINANCE AND COTTON.
FINANCIAL.

rAa New York Times says 'Jay Gould hay.
made an agreement on Monday, as reported
NM Times. leasing his cable company TO his
western Union telegraph company, Wall street
rs~esterlay interested In stories TO the effect
" stockholders of the cable company were
w wroth at the agreement and were prepar
,Mssito call upon the courts for remedy, The
sastract as made public was rated as exceed
sSsIy favorable To the Western Union The
s.sle company stockholders complained that
Sssssmuch as this contract was used to bull West.
s,n Union, Mr. Gould claiming that the terms
aere largely in his telegraph company's interest
!, was not the best that could have been
I.ae for them. They recalled the fact that the
sromIses by which they Were induced TO sub.
srrIbe to the cable stock was that they were
eventually 70 receive bonds of the company An
security Instead, Il guaranteed dividend is
oSered from the Western Union. Other claims
Ven made as against the action taken by Gould
N throwing the cable company over as Il tender
IA his Western Union, and II was asserted that
me agreement could be broken readily mas.
npch as the Western Union has no right or
Sdyiege to own or operate cable. Another
objection raised was TO the effect that the agree,
nelt between the telegraph and cable com.
pMles can not really go into effect until al a
krmal meeting of the shareholders of the COM
panies al least three tifhs Of the stock shall be
voted upon in favor of the contract. No such
meetings have been held"
The shipments OF gold TO Europe have had
favorable effect on the London money market
and have also stimulated the demand for Amer,
fan securities there. A striking evidence of
this fact was brought by cable to-day, the So.
elO0O loan OF the Atchlson Topeka & Santa
70 railroad company. recently taken by a syndi
tate. having been offered for popular subscrip.
ton through the Messrs Barring Bros and the
entire amount absorbed in less than
two. hours The price paid for the
bonds ,,D was Loan iVo per cent. Hat
o. 6 per cent trust mortgage bonds The World
says 'ln addition to this significant intelli-
genee there are other facts quite a. important i'm
their bearing upon the question of European
demand for our securities. The foreign hank
es, who ore naturally well posted as to the feel
Ing abroad regarding American investments
have this week made efforts to purchase bonds
ad stocks of completed roads, and we hear OF
one instance where larger premium was hid
and accepted for al important amount of bonds
for London account"
Nageneral review OF the situation, the Eve
ming Post says: I'VE are passing through n me-
rod Of suspense respecting the Crops, legislation
at Washington about banks. and the influence on
foreign markets, and reilectively on our own. of
gold shipments, and during this period the large
men In market are not disposed to do much. ono
way or ne other MS the facts to be developed
may modify the opinions which are now held
Mthe mining boards the usual hstlessness pro-
walls and Prominent mining broker says that
unless there is improvement soon, the board can
beclosed for the summer. South Pacific has
touched the lowest point yet and there are evil.
denCes OF quarrel among the outsiders. don't
think would sell at these figures If | had the
stock. There are chances that insiders win mi
nup again. aud If that's their purpose, they
would be only too glad to get 1t all In nj low
pHces understand there Is to be a thorough
Weihaullng OF accounts by the new manage
nent OF the Bradshaw and Washington MINING
companies, and that II will result In lawsuits
Gath Talking to friend of William Wander.
Gtyesterday, who was defending his general
CHARACTER the following remark was dropped
Ihe wealth OF Mr.. Vanderbilt is the most pre.
Eelerous thing about him or about our times
10 mink that an individual has 10000, 100 more
Invested IN government bonds than the entte
banGing capital of the city OF New York, The
money which moves the vast city and all It's con.
nsuohs amounts regularly to s6l,OO0.OOO
Anl MI vanderbilt has one-slXth more
money IN the government bonds than all
.hal fortunately he Is not much of an on.
glpfigihg, absolute, tyrannical man, or that
amount OF money wauld work degree of cor
iapnon about the legislatures and even on con.
- n, iIai "enld be fatal to the public liabii.
W., nope to God that wo shall have few such
"I'uhes accumulated in this country"
THE decision of the comptroller of tho our.
Yu! .naI banks deposiling United States bonds
Nsevullly ior currency can hereafter charge oir
saeh year one twentieth of the premium on "a
v ,on i on l-gs aud ono fifteenth on cur
iiyy.vy s, seems TO give general satisfaction
,ungrto some OF the banks OF the country have
N ,nsna rom paying the long bonds
Y,oTais they have had to charge oiY the
r,ui'uIh rapidly, thus interfering with tho paw
,,moi dividends; The decision Of tho COMP.
sv NJ uoes away with this objection, and makes
wy ,Ghg bonds desirable as tho best means IN
~"Vusn 'heir circulation on permanent basis
iat exports Of domestic produce from tho
49, New YORK during the week ending
,mvuuesday last show but little change In values
, ,V% me preceding week. tho movement con-
TSe 20 DC OF very moderate proportions.
ihg ~ '0tal Tor the week was So 2g7, 259 compared
ras wy. soeIt,0il for the corresponding week last
INV, PROVISIONS, breadstuifs and cotton woro
is,r, ~ h'nount while the movement of petro-
YIN was moderate, Since January 1 the az.
N.Y. aggregated is35T.sl9. compared with
''"-'ASoS Tor the corresponding period OF ISL.
w. nM YORK, May q. stock fairly active last
gbvvs money, 3 exchange. long, 4SS SIS do
Tenns,,,ss IL! state bonds inactive, cxcep, for
seua'ally unchanged.
DALLAS EXCHANGE AND COIN.
Nv baying Selling. Buying. Selling.
cheasna A sSSpargS 81 Louis h@4 par@G
'IpsyStIon x Par@s Houston. ParSsa
antA.ehsnge,a points \ ton discount, sterling
ia, s. Francs SOS 10 Marks, o.
so ,Io dollars. Scots, Mexican dollars. SCOT
SN'0"n halveH. ,{octs. Mexican quarters l5ct
COTTON.