The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-12-08

COMMERCIAL MATTERS, Etc.
The Money Order Department transmitted
$40, OOO, 900 during the year, at an apparent
profit of about $780, 600, but the Postmaster
General is Of the opinion that certain expenses
for clerk hire and stationery, which are now
paid out of the general postal fund, should be
charged to thi, department, and If this is
coae, it will be in arrears for a sum equal to
that which is now reported as "proft." He
asks Congress to increase the rates charged
for money orders, to the end that this branch |
of the postal service may be made self-sustain-
The New York sugar merchants are not |
little excited in regard to recent circular |
from the Treasury Department, which sug-
gests an entire change in the present mode |
of classifying sugars. There seem to be
doubts in the minds of some in regard to the
genuineness Of the circular, which was tele- |
graphed hither from Washington; while
others say it is an old affair, and was sent
here six or eight weeks ago before the exam
ination was commenced by the Sugar Com
mission. The New York sugar refnera say
that the polarization process on which it is
proposed to- collect the duty would open the
door to great frauds, as it would be easy to
mix certain substances with the sugar, which
unreliable. Another practical reason against
the system is, that it is absolutely impossible
to draw correct samples.
British Interests In the suez Canal.
According TO an assertion of the London
Times, cabled to the Associate Press Of this
city, the British Government has bought from
the Khedive of Egypt $4,000, 900 worth OF
shares of the Suez Can al Company, or say
177,000 out of the 400. 900 shares into which
the company's capital is divided, subject to
Parliamentary approval.
This piece of news shows that England at
length appreciates the importance of secur pg
q controlling interest in this work. The
wonder has been that she should not sooner
have taken this step, for her relations to India,
and the Eastern world generally, are such
that in certain contingencies it would be quite
necessary no other power should have that
control.
Besides, her use of the canal now is much
in excess of any other nation. Out of the
1886 vessels which made the transit from De-
cember /, 1869, to April l, 1875, 1902 were
British, and out of the 206,36 soldiers for
warded, 81 1O2 were British. while Turkey
forwarded "A, 1888, France 80, 2l3 and Holland
1881. In times of peace any power friendly
to Turkey and Egypt is at liberty to avail
itself Of the canal for the purpose of forward
ing troops. and shortening the passage OF
men-of-war to the East. But the whole
aspect would change in case of political com
plications between the treaty powers. When
the canal was first planned, Lord Palmerston
opposed the project strenuously, but Ma
poieon III, with the engineering skill OF Les
seps at his back and unlimited means at his
DISPOSAL pushed the matter to successful
issue. His position at the time was 80 strong
that the English withdrew all diplomatic &C.
ton inimical to the project.
Since then the canal has proved a CONNER
cial and financial success. During the 1rs
month Of its operation but 10 vessels passed
through, while during the first quarter Of
1875 the number reached 455. The progress
sion has been most striking, the number o.
vessels in 1870 being 489; in 1871, 763; II
1872. 1882; in 1873, 1173; in 1874, 1864.
In 1870 the net tonnage amounted to 400,
6O9. producing to the company 5.O4S,944
francs: in 1874 it reached /, 631, $40 tons, pro
ducing "a, 74S, 900 francs. The dividend paid
to shareholders at present slightly exceeds
Der cent annually. Two years ago the shares
Stood less Chan 60 per cent of the capital pait
in, while they now command q premium
80 to 40 per cent :.
IGNORED as England's Eastern policy seem
To have been by the three Emperors, sine
the struggle between Turkey and her rebel
lious subjects, she now takes position whlc
will probably secure her the control OF In
Isthmus Of Suez. The reception wnicn Ia
Bombay, sufficiently proved that the hne
dive in the coming difficulties leans emphatic
oIlv on Great Britain. To have the inancls
control of the canal, backed by all the nava
mower of England, would, in the event
serious complications, be taptamount to actu'
possession, and, whether they liked 1t or no'
the three Emperors would have to shape the
future plans of the pacitcatlon OF turkey q
cordingly. :.,o,.
fact of still more immediate interest
the same connection is the rebellion exlstln
in the Malay peninsula, the importance
which would be greatly increased, If the 7
volt spread into more general rising IN Ina
proper Great Britain can at no time
practically hampered in the use OF the cam
even were Russia involved IN these trouoie
N. Y. Chronicle
Commercial Law.
ppsroNs1B111rY FOB BILLS OF LADINa.
case of the highest importance to me
chants in all sections of the country was ~
c;ded in Cincinnati few days since. y
diannte related to the responsibility OF IA
NAV companies and other corporations tor I
e"ts Of their authorized agents IN signi
h;iIa of ladinp where the articles spec1ned
the bill had not actually been received. ~
we'll known that nearly all OF tne co'1o
Grain. tobacco and other crops OF the cou
frv ara moved by means OF the acceptal
~ hills Of lading by commission NJ
chants in the largest cities, who, upon "a
racaint. remit sums very nearly 70 Inc ID
Of the bills to the country merchants au,;.fv :
Tha.a ramittances are used to SATISFY
demands Of producers and the crops are Sc
forward, As matter OF course Tue sums
yanced precede the delivery Of the proHIuGs s
this and other ports, often by several d "a
time. The commission mei mere, snov IL
many instances has no i persona making the 81
me s'A and relies chiefly on the fact tha
mon'! In az ladinu from the agent OF so