The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-06-07
FINANCE AND COTTON
rtNANoiAL

The .naucal Chfonica says OF ihe SUI
alton the general commercial situation
shows some improvement ia the last week.
The principal favorable change las ueeh
lhe settlement Of the difficulties between
employers aud operatives IN the iron as
iricts Of pltlsburg and vicinity. western
cities have not vet followed the lead ol
Pittshurg, but If manufactures are able TO .
aooede to the demands made there, acqul' !
esCeuce at all other points can Ohiy DC
delayed for short time r,--,...,
The condition and prospects OF the wheat
crop show no material change during lhs
week though 1t IS generally achnoWleugeu
that winter wheat in Indiana ana limos
will be short. Speculation i'll petroleum
has been rampant in the past week. ana
the volume of transactions unusually
large. prices being advanced from Il to 10
cauts prr barrel. The imports OF foreign
dry goods at this port have been declining
for several weeks, and are smaller than
year ago.
The statement of the averages of the New
York banks on May Goth showed an IN
crease OF S34l6 775, making the surplus re-
serve 50 III 400 against "A POS, G25 at the cor
responding time last year. The domestic eX-
changes have all been in favor of New ork
even including Boston, which bad Prev
ously for sometime been against New ORE;
The tendency of money, therefore Is SUN
towards this city, AID the plethora IN the
local money market continues. hates lot
mercantile paper have, however, remained
nominally unchanged, at Al and % on flrst
class double names and l-2 and on hrst
class single names. Call loans on stock
colIaterals have ranged from IL to . IL
and on governments were 2 per cent.
On Yesterday, June LIST, the interest on
the United States IL per cents, amount
ing to 81 1872 100 was due and payable,
The estimated reduction ofthe public debt
far NAV is 81 800 600. The bond redemp-
tions curing tie month were about O,5OO,-
600, besides large payments OF pensions
Foreign exchange has been advancing
during the week, and is l cent on the
higher than week ago.
The amount of revenue taxes paid on to
bacco from 1862 to the time Of the recent re-
duction is alb )ut 500 ,OOOUOO:
The savings to the banks by the decision
of Attorney General Brewster, that nc
taxes Az due since January l last, is esti
mated at 5000 600. ,--
The national debt, less cash in treasury
is 81. 569, lSO 40S. The reduction for May
was nearly five millions.
The distribution of $12 900 900 pension
money next month is expected 10 nave
salutary effect on business. Besides th'
two more regular quarterly payments
the same amount there will be the paymen
OF pensions III dIEtdIo, S"Stt W
total to be paid out this year to 100000,
900.
Besides the discovery made some year
ago bv the Northern Pacific company tina
Duluth was the exact center OF the uni
verse, says the Indicator, it is now fount
that the town, or the spot where the tow
is supposed to be. is inlaid or undertake
with metals OF the precious sort. Ore tina
indicates silver has. been unearthed, an,
the presence of gold is strongly suspected
A cubic inch of gold is worth $40;
cubic foot, 1852 $50; a cubic yard, 9,79l.
762. This is valuing it at SIS an ounce. A
there was in the world 1927 900 900 in gold
This had diminished to $57 ,G0OO,O 600 at tn
time America was discovered, when it be
gan to increase. Now the amount OF golt
in use is estimated at Sc, 0OO, 100000.
The Bank of England reports gain
1857 600 bullion for the week and 9l4S,OO
ON balance on Thursday and Friday, ant
an increase of OF per cent in the proper
ton of reserve to liabilities. The Bank o
France lost 3 ,425,O francs gold and gained
107 500 francs silver.