The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-16
COMMERCIAL MATTERS.

WAAG0O1A1 MAllE0Os
The United States Official Postal Guide
containing an alphabetical list Of post-oficel
IN the United States, money order offices
etc., Is just out for July. Ia the foreign pos
tage table, the fee on registered letters is sci
down at 8, 10 and IL cents, which is calcu.
lated to mislead parties referring to the worl
Tor information. The fee is 10 cents to al
parts of the world to which our postal reia-
tons extend.
The fee for registering letter mailed al
any post-ofice within the United States, ad-
dressed to any other post-office in the United
States, or to foreign country, is now fixed
at the uniform rate of 10 cents, in addition to
the regular letter postage, to be fully prepaid
by postage stamps affixed to such letter and
cancelled at the mailing Office.
Cotton Manufacture in India.
It may be useful, in connection with what
has recently been written upon the decrease
of demand in the East for Manchester goods,
10 note what Bombay is doing to manufacture
its own cotton goods. The industry beyond
question is rapidly growing. Altogether
there are Is cotton mills in India in full oper
elton. working 100000 spindles and 1000
looms. The spindles produce about 100, 900
pounds of cotton thread day, of which
about $4,000 pounds are used to produce
cloth. These mills are chiefly in the Bonn
bay Island, where a new spinning MILL Just
opened by wealthy Hindoo and working
$4,000 spindles, makes total Of II working
mills.
Up country there are several others--one at
Sqrat, two at Breach, two at Ahmedabad, one
atJulgaum, one in the native State of Blow.
nrggur, and one at Madras Extensions are
also rapidly going forward. Eight extensions
arc in course Of construction at Bombay,
chiefly on share capital, and these will pro-
vide at least for the working OF 40, 900 more
spindles and 1345 looms.
Damage TO tho Western Tobacco Crop.
The following is from the Paducah Herald,
of the 14th inst:
The recent heavy rains have very materially
damaged the growing crop of tobacco through
out the entire portion of Southern Kentucky,
Tennessee and Missouri. Hundreds of acres
of the most valuable tobacco lands in the
Purchase are entirely inundated, and the to-
bacco crops in many instances totally ruined.
Farmers from many sections of the country
represent that nearly half the crop is de-
stroyed. On the ridge lands great many
CROPS were washed away. That jubilant feel
ing which existed among the people a few
weeks ago in regard to the large crop pros
poets, has in the past two days changed into
gloom.
farmers in Ballard, Graves, Livingston and
McCfacken counties, and they universally
agreed that the damage is ten times greater
than any one would believe who has not W.T.
messed it Small streams have spread out in
some places for miles and have left great pools
Of water in the fields, entirely covering up
the crop. Where the water has run off the
tobacco has wilted down to the ground, and
will most probably never revive. The process
of frenching is going on more rapidly than
has ever been known before With the pres
emit prospects of the weather we can not hope
for anything else than great destruction to all
description Of crops.
European Grain Prospects.
The latest Russian advices, under date of
Jure I6, indicate further material change
for thu worse in the prospects of the wheat
crop. The Poliso and Bessaraban crops are
expected to be q failure, and Polish, Odessa
and red winter wheats are Withdrawn from the
market and warehoused on speculation. In
one or two districts fair yield may be real
lied.
The French and German crops are not
promising, but the crop prospects of the
British isles are reported on more favorably.
The average yield in the Russian districts
when 3 failure Of the crop is predicted has
not been of much importance; but the aggre-
gate Russian crop, which is the most impor-
taut in Europe, if not in the world, does not
promise as we'll as last year.
Now England Dividends.
; The Newburyport MASS Herald says: The
semi-alnual accounts of the cotton mills for
July make up very badly. There have been
but few years in which SO many losses have
been made in the business Very few mills.
except those having plant marked down far
below the original cost, and large surplus
- - kc-o ch1 al
escape severe losses. The Dwight makes up
with loss of $50. 900. and the Great Falls,
though only three or four years ago it marked
off one-half of its capital, and made new
stock to the amount Of SIS, 900 to pay off its
debt, shows also q loss of $35, 900, and Of
course for third time passes its dividend.
This state of things, however, can not last
great while. Cotton goods are now selling |
lower in the United States than in any other
part of the world, and if our merchants only |
had clerks or partners established in the |
great marts of traffic as branch houses to |
whom they could consign their goods, our
whole stock would be sold at once at a hand |
some profit for export.
We have seen this week bleached cottons |
bought in the English markets, where they |
are selling at much higher prices than the
same quality of goods are selling for in the
United States.
The New Yori Money Market.
During late years the prospects Of the
money market have been matter OF anxious
inquiry about this season. This year, few
trouble themselves upon the subject; for the
reason that the ease in money has been SO
protracted and settled that it is taken for
granted we may safely expect smooth mar
ket for the fall months. There seems to be
little reason for disputing the soundness OF
this conclusion; for we have ell the conditions
requisite to q continuance of ease. The asso-
ciated banks of this city now hold SIC, OOO,-
600 of legal tenders and SIG, 900 600 in specie,
making 4 total of $87, 5OO,O 900 of reserve
funds, while the amount of reserve they are
required by law to hold is only S62, 800, 600.
The amount of reserve in excess of legal re-
quirem eIts is therefore $25 DOC, 00O against
. surplus one year ago of $25, 400, 900, and
$l9, zoe, 0DO in 1873.
The reserves are thus in q condition to
stand any demand for currency that is likely
to come from the West or South in connec-