The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1883-03-17
FINANCE AND COTTON
FINANCIAL.

lhL ~ which importations o. gold may
elSlis,'..,sc,ei. is considered by the New
BE trrsn,rr Post As iolloHs; We would
le Fr>t no the par o! foreign exchange,
le lel ia 81 $3.50 20 the pound sterl1nS'
W." however, the nominal par IN Tue
,,.',orey OF account, the same as - y -
~. a., ~ be before it was chansed oy aet ol
uls,srsss. But although - 10 % j. me
W.,,,,2yr.,lent OF . pound Sterlihg IN hlteu
Sttstss money, and although a sovereign Is
sIS,ts - "a be "a pound, the sovereign,
unnA. .,,,ei AZ the mint here, and after pay
Nheiit .,nenses of recoinage does not yield
jug a. sin American gold The real par ex-
pus is therefore, 3i-l00 Of l per cent.
ShsN nan The nominal par, or say 81 ~ 81
W NE, he rate for demand bills OF exchange
Nlu, Nv, below this figure 10 pay expenses
Is I, s,,.,Tsnnrting gold from London to New
- lamentations may be expected II the
l VlH, Of interest are higher on this side than
ra'v' The expenses OF transportation are
lll'e,,,,r,r;ssd in three principal ilems-viz.:
TSIDi',,bt say, of per cent insurance,
+ ~ ,,ny cent. interest for three weeks at /
VI l rg,t saw I of lper cent, making q
vi w. ~ of per cent, Besides, there are
nc sBght additional CHARGES, AS transpor-
sotior from London 10 Liverpool, etc,
,'Sbicb would increase the cost OF transpor-
,ot;cn and interest ia, say 5o-lOO OF per
en- or say 267-lOO cents on the
vornd which, deducted nom the
SN3l, would leave s4O5-lOO
rs the price at which soyereIgns
@,ht he brought from London to New
VI without loss If rates OF interest,"
-, - enough higher in New York than IN
Ton5on 10 make the movement of the capt.
al Lam object, it would come at this price
,"r bankers demand bills. Some persons
ava Jisposed to view the present movement
Of srecie TO this country merely MS q "bOr-
yovin," OF foreign capital caused by the
.scapt advance IN rates of money in the
Tnitrd States, and considerable stress is
hoirg laid on the statement that it must
ali he Maid back We DO not regard the
nrssant movement of specie to this country
ss sny more of borrowing of foreign capt
tsl than the similar importations during
The thee years-lS79 1880 and lSSl-wheu
we imported over $500, 100000 OF specie.
THAT specie has never been paid back and
vet in the meantime, we have certainly
reduced our foreign Indebtedness. While
there are no possible statistics to show the
amounts of American securities held
abroad, it is quite well established that the
great bulk of the United States bonds held
In Europe a few years ago have all been
brought back to this country, aud there is
resson TO believe that the amount of Amer
icon railway and municipal bonds held
abroad has not increased 10 the same ex-
tent as the amount of United States bonds
has decreased The United States are bet
fer ablaao carry American securities than
four or five years ago. The evidence of this
il in the general decline i'll rates of interest
in all parts of the country in the last three
wears, In short, the United States has
grown richer, Notwithstanding that there
are some people who love to imagine we
are always on the verge Of bankruptcy.
FoR the month of January, 1888. Arizona
mines paid in dividends S350,000, against
$50, $50 for California, $62, 100 for Colorado,
$4,000 for Dakota, $50, 600 for old Mexico,
100000 for New Mexico, $Sl 600 for Ma
yada and $GI, 600 for Montana. Utah, with
$4,000, and Michigan, s93O,OO0, alone ex-
ceeded.
The Salt Lake Tribune gives statement
of the expenditures made in Utah territory
in 1882 by the various mines, The Horn
Silver mine leads the list by a total eX-
penditure of $l,333 800; the Ontario follows
with $97600O; SIX other claims have eX-
pended from 100000 to $772,000; eight
more have disbursed from 100000 to $lSl,
500, and about twenty more have spent
from $4,000 to $1,000. The list contains
thirty-tive claims or firms, and the total
amount expended in 1882 is So, 432 100.
number of merchants in New York
have Deen victimized by means of $40 notes
OF the Consolidated Bank Of Montreal, Can.
ada. The bank had large number of the
notes printed about two years ago. They
were unsigned, aud had blank spaces
for the names OF W. Irwin and j. Hincks
the chief officers. A bundle OF these blanks
were stolen, while being taken to the bank
from the photographers, and the signatures
forged. The bank, on discovering the loss
had new design prepared, and outlawed
the issue which was stolen, and destroyed
the blanks which were not stolen.
The Public, of New York, says: "Proba
bly, the organization of new Stock eX
change IS, in some measure an outcome OF
the angry controversy between Messrs
Gould, Field and Sage and the New York
Stock exchange about the Metropolitan
STOCK, The enterprise is supposed TO have
MIR, Field behind it, although we cannot
say why. But it is supported by outside
bankers and dealers in many cities ant
towns, and by bankers here, who conceive
that they can do better for their customers
in new concern than in the present Stock
exchange. The enterprise gains o grea
deal OF strength in public estimation from
the fact that ex-Secretary Window has un
dertaken to act as its executive head, ant
Messrs Gambler and Harrington, of tn,
trustee are also men of note and OF hole
upon public confidence. But when all il
done, the question with these gentlemen
as with others who have contemplated
similar movements, is, whether the invest
ing aud operating public stands in need o
a new nr.,auiyoi;C,, ~