The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-05-01
FINANCE AND COTTON
FINANCIAL.

The London Economist treats the suoleel
ogniniug investments most iavora0ly. IL
~. 1T is common remark among
& ars in securities that mining stocks, a.
r",s are worthless, and they will neither
go themselves nor counsel their friends tC
~ Investments in them, And yet any
nnnrsindlced person, alter careful survey
oG thr history of mining ot the last lew
vsars cannot fan to reach the conclusion
mai practical mining Tor the precious met
Ishas met with u success not accorded to
Stherpnrsuits-that, i'll fact, the profits aris-
inc are exceptionally great. Startling as
he statement may seem, 1t is none the less
horne out by an array of facts, that more
money has been realized in dividends on
mining stock, in proportion to their capt.
tsizAtiun, than has been received from the
railroads Of the country, the tact being that
the mines have paid since 1879 more than y
ner cent. on their quoted value. During
HAT period, according to Henry Il. Clifford,
NJ. E., who is an eminent authority on the
subject, II old dividend mines, which have
a cnrrent value OF $i7 ,55S 9O2, have paid
sl9 500 $50, and 80 which may be called
nav having a value Of S2i l65, $50 have paid
A. as 800. One mine has paid 1876 conseou-
live dividends, and 10 others have paid over
% dividends each. The same authority
gives the total market value Of the above
named mines at $7l ,72i ,Go2, and the total
dividends paid as having reached the enor-
mons amount OF $l34, 6l4 976. When these
results are compared with net earnings of
railroads. it will be seen that of the two,
mining has been much the most profitable.
On total capitalization OF about $1,000
uDOO0 less than q per cent. has been paid.
And vet, the stocks of roads that never have,
and in all probability never Will pay div
ideEd are actively dealt in by spectators,
and even sought as permanent investments,
in the decisive hope that in the future they
NAV become valuable. That there are mine
which nave not paid and may never pay
dividends is fact, but good mine, well
managed, will always pay" The conclu-
sion which we would naturally draw from
this is that investments in good mines,
properly managed, will pay the capitalist.
riE Journal OF Commerce says: The
bank of England and all bankers in Eng
land require check that is payable TO or
der to be- Endorsed, but they do not require
the indorser TO be identified. An act of
parliament provides that any draft or order
drawn upon u banker for sum OF money
payable 20 orler on demand, which shall
when presented for payne purport to be
Endorsed by th6person 10 whom the same
shall be drawn paya BILE, shall be a sufficient
authority to such bank to pay the amount
of such dref or order to the hearer thereof;
aud 1t shall moi be incumbent on such
banker TO prove that such Endorsement. or
any subsequent Endorsement, was made by
or under the direction or authority of the
person To whom tue said drift or order was
or Is made payable, either by the drs Ser or
any euuorser thereof This makes sight
draf $ or checks paid to any bearer good
payment, provided it purports to be prop
erly endorsed, and hence there is no pro-
lection TO the holder. He may lose check
to his order, and any finder who is willing
to run the risk may indorse and collect it.
This is why short sight sterling exchange is
now drawnin three days instead Of at sight.
The act only applies to paper that is paya-
Bile on presentation"
The Boston Commercial Bulletin gives a
statement OF the semi-annual dividends
and interest payable in that city in April.
The changes in the bank dividends for the
SIX months are not numerous. Of the fifty
nine banks within the limits of Boston, five
pay per cent. zone y per cent. quarterly,
lVe per cent, two 81 per cent, twenty
I'VE per cent, sixteen y per cent, two .
per cent, one So per share. Two pass div
ldends and one is new bank. Six increase
The sum distributed among the stockholders.
Following lsa summary of the dividends
and interest paid out III Boston this month
with comparisons;
Bank dl7idends ......... . 81 5n6 . q
interest ON city and U. 5 bOnds..,..... 30 1888
interest on railroad bonds..".., 2l67 755
atlIoau dividends. .,.,...... '''''',,.. SIS 73S
Miscellaneous dividends. .........,. g6l75O
n t"ai III, 40
" M ,'''''..,.,-..,.,..,.,..,, 1Ob5S2l
~ b,i73 $50
~ . ''ot ''''''. .,........,.,s,,,... ll3UlI
THERE is no denying the fact that trade
IIurlng The first quarter of the year has been
uuIier aud more unsatisfactory than in any
season since the resumption of specie pay
laents, The lull was rendered necessary by
Ihe overactlon and straining of credits dur
lus lhe last three years, and to the extra
caution and conservatism that has for sew
e,al months been displayed by merchants
y y no uouot due our exemption from much |
note serious embarrrssments and disturb
ahces IN the world Of business than have
'aNen place thus far during the year. The |
IPuuatlOn that has been gong on for |
!, ohIhS has obviated all danger of ANYTHING |
IKE rHVulslon, which had been predicted |
y the peSsimists, and there are now signs |
!. iecuperatien on all sides. Commerce |
= growing stronger, money is becoming |
as,er, consumption is slowly gaining on |
'ayuuctlon IN many branches of industry, |
he tne Tread of atiairsis PROFESSIONALLY IN |
lie right direction.