New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1874-09-01


enormous in it's aggregate, from our COM
mercial and industrial classes. The extent
Of the demand is shown by the higher rates
paid for money, on AL signatures, than in
Northern markets. FROM its natural ten
dency to flow whittier it is most wanted
and thereby establish a financial level, it
might be inferred that its greater value in
this market would constantly add to our
active capital accessions from the North
and from European money centres; but this
has occurred to only a limited extent. A
considerable portion of the stock in our
banks is owned in New York and abroad,
and adds, to that extent, to our active
capital. European and Northern cap
italists have made some investments
in permanent loans on real es.
tate. These present important sources
for augmenting cur supplies of mon
ey. But all that has been done thus far
has been on scale by no mems in proper.
ton TO the solidity of the security and the
remuneration offered. Hence it may we'll
attract the attention of our commercial
classes, and especially those interested in
our great staple, whether, as We have sug-
gested elsewhere, more important Access
sion Of active capital may not be obtained
either from Great Britain or the continent
of Europe. A British or continental bank
established here with capital of e., 600, 600
it safely at mean profit of not less than 10
y cent per aInum. and not only repay its
shareholders for their enterprise, but be
the means OF largely augmenting the sup.
ply of that description OF cotton in which
the British and continental spinners have
the deepest interest. Manchester wants
Gulf cotton more than Surats, and had far
better make her investments in New Or
leans than in Bombay.
Tho which commanded Last
fall was pcotracted rather longer than usual.
lasting until February, when it disappeared
under cop.ous cotton and sugar receipts and
sales. From this time the market has been
comparatively easy, but We already see
symptoms of its hardening and exhibiting
increased activity in the demand to move
the incoming cotton crop. The presumption
is that we shall pass through the same cycle
az in previous years, witnessing a hardening
market in October, and some pressure in
November and December, after which we
may look for permanent relaxation for the
rest of the year. In fact, these features
represent the normal condition of the
market The making up of cotton
crop, and of sugar as well, involves .
large outlay which can not be refunded
until the crop is sold. In the meantime
planters strain their credit in every quarter
to raise the means to carry them through,
advances possible on the anticipated yield.
Competition among factors on the other
hand, from the desire to increase their
receipts. leads them often to extend accom-
modations to their country friends beyond
the ability of the latter to refund, unless
favored by bountiful crop and remunera-
tive prices. Not unfrequently their liber-
atty has extended far beyond the limits of
prudence, but in the past year they have
ruo fIVyn md
are involved to diminished extent in the
result of the maturing crop.
The fluctuations in gold have been in
accordance with the course OF the New
York market, and on the whole have OK
hibited greater variation and a higher pre-
MUM than last year.
The following dividends were declared
during the year by insurance companies,
viz:
The Sun Mutual Insurance Company,
after setting aside $4,000 to the reserve
fund from the net earnings OF the year end
ing December 81, 1878, cash dividend Of
10 y cent on the net earned participating
premiums, and 10 y cent on the capital
stock The Commercial Insurance Com
pany for the year ending March 81, l87 4,
il y cent on the capital stock of the
company. The Merchants Mutual Insu-
rance Company. for the year ending May
IL,
The Crescent Mutual Insurance Company,
for the year ending April 80, 1874, a quar-
terlv interest of 2la " cent on the capital
stock. and a cash dividend Of . y cent
on participating premiums. The Factors
and Traders Insurance Company, for the
year ending April 30, 1874, 10 y cent
interest on stock and 30 v cent to the
stockholders on the net earned participating
premiums. The Peoples Insurance Com
%bo INV S0 1874 IN
Y cent placed to credit of stock notes and
Is y cent cash dividend ON the net earned
participating premiums tor the year. The
New Orleans Mutual Insurance Company,
for the year ending December 81, 1873. 10
y cent to stockholders. The American Mu.
tual Insurance Association, for the year
ending January l, 1874. 10 p cent interest
on the capital stock. The Hibernia Insur-
ance Company, for the year ending April
80. 1874, 10 Y cent on paid in capital; 5 t,
cent dividend on same; 25 y cent dividend
on premiums participating in profits; inter
est and dividends as above placed to the
credit of stock notes; above dividends IN
addition to rebate of IS y cent allowed
to stockholders as we'll as non stockholders.
The Salamander Insurance Company. for
the year ending December 81, 1874, 10 =,
cent interest on the paid up capital and 10
y cent dividend on the net earned parti..
cipating premiums, placed to the credit OF
stock notes.
The Germania National Bank declared a
dividend of y cent on December 81, and
71e y cent on June 80; the State National
Bank v cent June q; the Canal Bank v
cent June 90, the Louisiana National Bank
T. cent December 81, and 6 v cent June 90
the Hibernia National Bank y cent June
80; the Metropolitan Loan and Savings
Bank 10 !, cent December 1, and 10 y cent
June L. the TeutOnia National Bank 2
| cent December 30; the Union National Bank
5 y cent January /; the Southern Bank
! !, cent January 1, and t'cent July l; the
| Bank of America Ito reserve fund.- q cent
January /, and ca July L; the Louisiana
| Savings Bank and Safe Deposit Company
3 y cent interest Ito Savings Department
January l, and 3 Y cent July l
the Workingmen's Bank cen'
interest Ito Savings Department. Jan
uary land y cent July 2; the Me
chanics and Traders Bank p cent Janu
ary and 5 y cent July l; the Bank of La
fayette S v cent January and 5 y CEN
July L. the Carrollton Railroad Company
" cent December 90 and Y cent June
30; the New Orleans City Railroad Com
pany A y cent September 10, p cent
| December 10, 4 u cent March Ii and y
cent June 10; .the Orleans RAILROAD
Company 50 y share June 9; the Crescen
| City Railroad Company ~ Y snare AAfct
IL; the Canal and Claiborne Street Rail
road Company 81 so share September
the st. Charles Street Railroad COmpan,
3 y cent October 10, y cent January 2,
y cent April 3, and 3 v cent July 3; tn
jefferson City Gasli2ht Company 3 y cen
April IL; the New Orleans Gaslight Com
pany s. y share December Is, and rs
share June Is; the Sugarshed Company ,
y share January Is, and 81 p share Marc
u; and the Levee Steam Cotton Press
cent March 20, and ' cent August -. =