New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-10-13
NEW YORK.

VI 6tGOCt S1B0kby UA8S0RDSQ-GiOo0
Opened stronssr-Excited During she
Afternoon-Activo IT tho Ciese-Wess-
ern Union Telegraph CeDpany-O0cial
Statement Of its AAairs-Arrivals Of
Steamships. e.
slightly disturbed to day by a story that a
Broad street bear was on the streets, and
that German banking firm will demon
strate in the gold room to lock up cash gold.
It is stated the Broad street bear is short of
5000, 900 of gold, borrowed to mako up
time. The German banking 6sm reported
long Of gold. The object of the Broad street
bear is supposed to be to advance gold for
the purpose of selling. more, as well as for the
tions ON Stock Exchange by activity in
money, which lock up Of cash gold would
make the object Of the Gemans to unload
their long gold on the market. Il il stated
Canada banks, which hold the bulk float
ing here, refuse to enter the scheme, but
will probably accept higher rates for the
use Of their gold in regular loan. .se
The New York banks hold twelve million
and half gold against twenty-one million
and half last year. These figures show
how easy O squeeze in cash gold could be
made by few operators in the present con-
dition Of the market. Tomorrow will show
whether the scheme will be carried out.
Meantime, much interest is felt in the mat
ter from the magnitude Of the interests in
vOlved.
Evening-Gold opened stronger, became
excited during the afternoon, and active
upon lookup.
'62s 1924; '6k 1l1la; '65s 111S; new
l1Oas; '67s HOB; '6Ss HOS; l0-40s 1861.
Arrived: Steamers Champion, Clyde, Of
tawa, Montgomery, Mongolia, Minnetonka
and Russia.
The following is an official statement of
the condition. of the Western Union Tele-
graph Company's service throughout the
country. On the first lof July, 1870, this
company possessed 81, 1879 miles Of poles and
ll2, ,l9l miles of wire, against 5O99 miles of
poles and lO4,574 miles Of wire at the same
time last year, being an increase of 1910
miles of poles and 76O7 miles of wire.
During the past year there has been an in
crease of 52l officers and 8S3 sets Of telegraph
apparatus. tut
The gross receipts for the year ending
July l, 1869, were $7,3l6,9l8 30; gross re-
ceipts for the year ending July l, 1870, ST.
1879 96-a decrease of $178,180 "a OF 2ls
psdss psd Sspt n The sT the
expenses for the year ending July !, 1869,
$4,568, l16 san increase of $342, ,655 81, or
~ per cent. The number of messages sent
during the year was twenty-five per cent
more than for the preceding year. From
October l, 1869, when the rates were re-
duced, to March l, 1870, five months, the
net earnings were 1857 ,879 73; from March
l, 1870, to August l, 1870, five months, the
total earnings were $946,8 1863 IS, being an in
crease $98, ,983 81, or II 6-l0 per cent. ~.
If the same rate Of increase should con-
tinue for the next year, the net earnings
would be q, 486, 400 5, which, added to the
amounts saved up by the adjustment of the
national earnings for the year ending July
l, 1871, is $2,686, 400 "a. We may, however,
expect much better results than these, for
the business for the five months from OctO-
Der to March !. is generally better than
the five months from March to August !;
the net earnings were 81 ,207 ,564 SO, and
from March I, 1869, to August l, 1869,
81 ,032, ,l24, showing that the autumn and
winter for 1869 were $175, ,440 SO better than
the spring and summer of 1869, while for. the
present year the spring and summer months
are $98,983 80 better than the preceding
winter months.
The average rates of tolls upon the entire
volume of business done for the year end
ing July IA, 1870, was twenty per cent less
than for the year ending July !, 1869; the |
average expense Of transmission per
message for the year ending July ], 1870,
was eleven and twO-thirds per cent less than |
for the year ending July 1, 1869. The net |
profits for the year ending July l. 1869, were
81, ,SOl ,457 48; for 1870, $2,227 ,965 81; being
q decrease Of $573,49l A, or twenty per |
cent from October /, 1869, when the re-
duced rates went into operation.
To April 30, 1870, the gross receipts were |
$233, ,273 SO less, and the expenses SIS, ,609 Ii |
more than for the same months of the pre- !
ceding wear, makingfa difference in the net |
Of $4l9 ,293 II. Thus, seventy-four |
per cent of the decrease in the net earnings
for the year occurred in the first months |
after the reduction in tolls. OF this de-
crease in the net earnings, $500, ,322 SIS oc- |
CURED during the first seven months, the |
decrease in the months of January and
February alone being thirty-fve per cent Of |
The decrease tor the year. After the reduc- |
ton Of rates in October Of last year.
the gross receipts did not come up to
bhOse of any year until May, when |
they exceeded the same month of the pre-
seeding year bv $7755. In July 1870, the re-
ceipts exceeded the same month in 1859 |
$50, ,399 68. In August, 1870. the receipts |
exceeded the same month of the preceding |
year by $41 ,124 49,
As the cost Of performing all increased
traffic increases in d certain proportion with
the service, the net earnings did not come
up to the amount earned in any month OF |
the preceding year until July, when they
were in excess Of the same month for l869 |
by 81 ,281 go In August, 1870, the net
earnings we're $21a64 IA. .1s