The Dallas weekly herald. [volume] (Dallas, Tex.) 1873-1885, 1883-08-02
FINANCE ADDICTION.
FINANCIAL.

The Chicago Times says the anticipated
July call for bonds has been issued. 1t
covers all the SIS continued at IL per
! cent. that remained outstanding The
amount of these when the last debt state
ment was issued was $32 ,082 600. The
amount still remaining is said to be about
| SOL 600 600. something over million hav-
! ing been sent in for conversion into 3 per
cents since the beginning Of the month.
The call will mature on the LIST of Novem-
Der, at which time interest will cease.
The present call differs in some respects
from any that have preceded 1t. In the
first place, notice is given that no more
bonds will be accepted from date-July rs
for surrender and exchange into per
cents Hence so much OF the act of July
IL, 1882, as provided for this exchange is
no longer operative. In the second place,
notice is given that the quarters interest
on the called bonds, due on the LIST OF No.
vember, will not be paid by checks for
warded to holders, but will be paid with the
principal at the time OF presentation.
Finally, the call itself offers prepay ment at
any time, with interest to the date OF pre-
sentatiOn.
Secretary Folger would hardly have
made this offer to prepay il there had
been reason to suppose that very large
proportion OF the bonds would be presented
Immediately Heretofore, or at least for
two years past holders have been slow to
avail themselves of the offer to prepay even
in times of great stringency in the New
York money market, and when interest
has been paid without rebate. In view of
this experience it IS not to be expected
that the bonds will be sent in very rapidly
for redemption under the offer to prepay.
That, however, will depend somewhat up
on the state of the money market. AS
there is no apparent reason for expecting
stringency during August, the PROBABILITY
is that not more than So, OOO, 600 will be pre-
scented for, payment during TINS month
In September the amount presented may,
very likely, be considerably larger but we
may expect that fully one-halt OF the bonds
called will be reserved by the holders until
October.
II mas been stated several times of late in
Washington dispatches that treasury ex-
perts were making estimates TOR the guid-
ance of the secretary in the matter OF TINS
call. Nothing has been said as to the
nature OF these estimates, but the results
must have been somewhat beyond the an
t;cipations of the congressional 'experts,
Kelley and Morrill,, who, at the time OF
the passage of the new tax law, estimated
that it would cut off from $65, GOO, 600 to
$75 900, 900 of revenue the first year. There
is no reason to suppose that the secretary
has changed his views respecting the re-
o.
estimates must have been such as to satisfy
him that there will be surplus of about
$40 OOO, 900 per month to apply to the reduc.
ton of the debt. If after all the Boosted
tax reduction of last winter we are still to
have a surplus of $40 900, 600 year, the
new congress wJli hardly be able TO dodge
the question of taxation. The custom
house returns indicate that we are getting
about as much revenue under the new
tariff as we did under the old. The receipts
in New York for the six business days
ending the 18th instant amounted
to about SO, $4,000, which is ut the
rate of about 690OO,OOO year.
Assuming that three.fourths Of the
customs revenue is collected in New York,
the collections during the week referred to
were at the rate OF about $2ll 900 900 year
for the whole country. This is within S9,-
600. 900 of the revenue from this source dur
ing the last fiscal year. III the present rate
of receipts continues. therefore. a surplus
of $l2O 600, 600 this years. highly probable.
TIE total number of claims for rebate on
manufactured tobacco in the hands OF deal
ers on MAY 1, under the United States in
ternal revenue for the first district OF Min
nesota, are 374. and amount to $l2,O6S. Ii
is anticipated by the officers that these
claims will be paid about the LIST OF January
next.
The Salt Lake Tribune says: During
the two weeks ending June 30 there were
shipped from osit LAKE 20 caIs OF blllion,
I,9le .573 pounds; cars copper matte, %, $40
pounds; cars ore. 20S. 200 pounds; o cars
ore, 1874, 400 pounds-making grand total
of 80 cars, aggregating 302 604 pounds.
Over sis, 000, 600 In Uuited States frac-
tional currency is still outstanding, though
il is practically out of circulation. Most OF
il is supposed TO be lost or destroyed. 10
IL clear gain Of this amount TO the gov
eminent.
The Leadyille district claims that next
June the ore output will be Al 900 tons, in
stead Of "a 800, as II was last month.
II Is reported that the Egyptian bank At
Paris has offered 10 place loan OF SIS .000.-
600 for the Mexican government.