The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1885-10-04
MORE CAPITAL FOR TEXAS.
An Interesting Letter From Chicago OIL
on the Wants of Texas, From u None
tary Point OF View,

CHICAGO. Sept. 20 Il Editor HERALD.
i am quito interes ed in the efIor
TIM HERALD has been making Il
secure more capital at lower rates o
interest for the Use OF your people IL
Texas. This is matter to which
have given considerable thought dur
the past four or five years. In my
position here as passenger egent OF the
Missouri Pacific Railway company
and curing my frequent visits o. you
state, meet great numbers of youi
people, aud am well awsra that moth.
Ing Is retstding the vigorous improve
ments throughout your State more tn an
no high fa;ss which ara demand sd
flrih use ofmoney. While there ia an
abundance OF money soaking invest.
mon. and can be- hsd by Iowa, Illinois
and Wisconsin firmers NJ 0 and 7 D. I
cent. the Texas farmer or stockmst, is
obliged 10 pay from l2 to 10 per cent
lndsed, know positively thaton sho I
time hgst'ciass business men, who
would he rated very high here, have
been Obliged TO pay is per cent for
money.
have been trying every way for a
year or two past to Induce representa-.
tive capitalists 10 NO through your
State aud SEQ tho abundant
security that can DO given
for loaps. / have taken the
position that no loans offered in any
market are safer than those presented
by our people. In taleing over the
matter Of Texas loans with large cor.
poratians, ind they are ready to nd
nit my Statements, and yet there In q
feeling that your State laws will not
give adequate protection to foreign
C0mpanies, who would send their
money there Tor investment. have
been asked within few days, by capt.
ta'isiB OF this city, to ascertain IL
money could no loaned In your State
by chartered corporations Of this CITY,
and be fully protected by your stat.
utes.
My object IN writing this letter IL to
have you bos tho opinion OF some If
your best attorneys on this subiect,
aud publish same In your newspaper.
IL getting this opinion, 10 render ~
effective, IL will bs necessary to secure
the same from ropres ln.ativo mon In
your. State. Among such that are
widely known l would name Baker &
Botts oil Houston, Lieutenant. Cover
nur Gibbs. of d las, Judge Horny, Of
Dallas, John Hancock, Of Austin, and
"A. j. Peelrr, OF Austin.
think II l can demonstrate beyond
doubt that tho same protection given
10 com . snies In your own State will
be extended to foreign companies It
will DO possible 60 secure the
same terms In Chicago, Boston and
Now York for Texas people as are
given ~ borrowers Ia tho Northwest.
/ trust that you will recognize tho I'm.
pertauce Of my request aud Give II
your early attention. Tho special
poiut 10 determine is "the right OF
foreign banking companies to take
and hold re>l estate aud spersonsl 40
curit'es for loans, including tho right
to purchase the Same a. public sale, IN
payment Of tho indebtedness, aud tp
mold or dispose Of the sanie as indtvil.
usls mightdr.
1 cannot close this letter without ex-
pressing tho great pleasure we take In
fcaiing your newsv and interesting
paper. Oar oilice hero In headqn srtefa
frr rexss people, aud TnE DALLAS
urRALp IA IN graas demanu by those
wac ara spending tho summer here.
IL would afford mo iuuch pleasure 10
meet any one OF your iifin here la Chi
o. a. ANA reciprorats the many nrurle-
o. / have r3criyed at your he-ds.
'r fIH Yours trnlvs