The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-05-22
FINANCIAL

Unne OF the strongest inuoiseAns -
,.,ional banking system says tne postum
Commercial Bulletin, rs the estaoilsnhenl
0onla;onai hanks in sections OF the country
o. QUA money is wanted for legitimate pur.
we II & noticeable that almost all of
Pnsu hanks established are now located
W, hs west and southwest, where there is
Inn'sStsntly-increasin population, and this
W.ns new business and the proper iacil-
n liG.s for trapsactiug that business. Money
h1,allv flows, like water, where there is
nas law II Men do not invest their surplus
us na, in banking or other institutions I'M
nv tbere is a reasonable expectation of
,nrnipc it over to some advantage.
unThe largest increase OF new banks in the
sorthern states in the past half year is in
TeTas and their aggregate capital is $3.50
aco Texas is great state. 1t is giant
among the states, washing its feet In tae
~aters of the gulf, Texas is advancing more
andy than any other southwestern state;
hence the need of more capital there. Even
in Dakota, which is still an infant in SOW
ereignty, eight national banks, with an az
srsvate capital of 100000 have been estab-
i;sbsd in the past six months. Dakota, like
Te,as, is growing rapidly, and its people
want the convenience, which the national
hank system affords, of doing an increasing
business without the risk OF handling mon
sv The new banks thus established are
nat speculative ventures, but auxiliaries to
trade"
COMPTROLLER Kuox reports the number of
new national banks which have been organ
ztdruring the six months beginning No.
yember /, and ending May /, to be l32, with
sc,p,tal of Sl4,958 800. OF these banks 10
hayins capital OF 81, 0O5, 900, are located in
New York; IL, with q capital of 7S5 OO0, in
Pennsylvania; l6, with capital of $780,
0N, in Ohio; 10, with capital of 2970,0OO,
in illinois; 0, with capital of $500, 1000, in
Iowa; 6, with capital of 1925 600, in Ne
praska s, with capital of 100000 in Da-
kota, and in Texas, with capital Of $780,
OCO. The number of banks organized in the
New England states is 8, with capital of
$1,000; in the Middle States, % banks,
with capital of $l,S93 600; in the
in Missouri and 9 BANKS in Kentucky,
9 banks, with a capital of So, 100000 in
the western states, 70 banks, with a capital
of 50 $50, 900; in the Pacific states, banks,
with a capital of $4,000. Twenty-three
banks, having a capt. al of SO ,S36, 900, have
gone into liquidation during the past six
months and relinquished business.
London dispatches say that the project of
second Suez canal is rapidly taking shape,
and, unless delayed for political reasons,
will undoubtedly be developed at an early
date, The present canal is unable to ac-
commodate the traffic, and it is probable
that by the time the second is finished
there will be enough business for both.
With modern engineering and appliances,
aud the experience derived from building
the present canal, there can BE- no question
OF the commercial souDdness Of the new
venture The capital will he forthcoming
in abundance LONDON without the slieht.
est uplsv The canal shares have fallen IN
Paris, and Count de Lesseps treats the Eng
lish proi-ct with contempt.
The mportations Of specie and bullion at
New York during the week ending April 6,
were S93S, 039, consisting of $1S6 52S in gold,
and Sl5l ,5ll in silver. az against total OF
S24 g9S for the week ending April last
year. The importations since the 1st of
January compare as follows with the move
ment during the corresponding period last
year:
Since Jan. |, Since Jan 1,
1888 1881
Gold. &,l25.06i s4S9, 5li
Silver !. 659,442 667 748
Total s5,7s456 si,l07, 254
Mining assessments falling delinquent in
May amount to 500, 400, levied by l6 mines,
making a total for the first five months Of
1888 of 1851 ,234, against So 100, 900 during
the same time III 1882. OF this months
assessments Nevada mines want $2i9 400,
California $1,000, Ariz1na S. 900, and Mex,
leo $4,000.
The bullion receipts at the various offices
in New York from the mines for the week
ended May IL were $4,000, as against
$4,000 reported for the previous week.
The receipts from January l, 1888, to date
are $l4 ,S36 7l3 So.
A silver mine has been discovered near
Hartford, Ark, with a very rich lead. Old
instruments used by the savages for smelt
ing led to the discovery
Thus far the count of Uncle Sans cash
reveals an excess of four cents over the
treasurer statement.
The issue of standard silver dollars from
the mines for the week ended May - was
$l65,5W. The issue for the corresponding
period OF last year was Sill 500.
The dividends disbursed in San Francisco
mining corporations IN April aggregated
s592l20.