The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-04-06
COMMERCIAL MATTERS.

"
inc debt he has Of about the same amount.
The firm of George W. Moore & Co., OF
New York-of which Mr.. Orville Grant,
brother of the President Of the United States
ia member been declared bankrupt
and the creditors have been served with no.
tice to meet April II, andappolnt an assignee
The firm dealt in paints, and made especially
of the manufacture OF fire proof paint
Their capital was very limited, and the chief
interest to the general public in connection
with the failure is, that Mr.. Grant and also
Mr.. Henry A. Bowen, nephew OF Henry G..
Bowen. were members of the firm
The Philadelphia Times estimates that
"gentlemen residents of that city annually
get about $500, 900 worth Of clothing from
Paris and London, which is struggled
through the custom house by friends who
have ordered the clothing made IN Paris for
themselves and sworn that it was for their
own personal use. In New York also the re-
cent investigations have developed about fifty
forged and fraudulent invoices. They are all
in the names Of mythical importers. The
cases called for in the invoices are sup.
posed to have contained silks and laces, but
are entered as goods on which there is low
tariff These frauds are estimated at 81, 600,
Co.,
Liverpool Cotton Report.
We make the following extracts from the
weekly cotton report Of NJ ssrs. w. c. Watts
4 Co., Liverpool, March 10Th:
The Position, etc The Liverpool Cotton
Brokers' AS ISOLATION on Friday last passed q
resolution that in future only the Gotten sold
here on the spot shall be included in the
daily estimate OF sales, and all cotton bought
by spinner III America, Iudia, etc, or bought
in Liverpool, to arrive or landing, for spin
ners' account assumed to be forwarded di-
rect from the quay-shall be LETT out from the
daily estimate, and counted only at the end OF
the week under the head OF forwarded
Under the operation OF this new rule the
sales reported here this week turn out to be
twenty-seven per cent less than would have
been the case under the old rule. That so
important a resolution as this, which directly
affects the cotton trade OF the whole world,
should be passed one day and go into opera
ton the next day. has been to us source Of
great surprise. Liverpool is the chief cotton
market Of the world, and for years past the
daily sales here have been telegraphed to Eu-
rope, Asia, Africa and America, and have in
no small degree contributed to govern the
course of prices from day to day. Now, be
it understood, We have no objection to this
new resolution of the Cotton Brokers Asso-
citation per Sc. We are perfectly willing to
see Liverpool, like any other market, stand
on its own merits; but what we do most
seriously condemn is that so important a
change should have been inaugurated with
out giving due notice to the trade at large.
If the brokers conclude to have a holiday
they publish the fact one or two weeks in ad-
vance in their weekly circular F; but in this
case they pass resolution which has, we
doubt not, a direct and palp.ble influence
upon tens of thousands who are Interested in
the trade without a note of warning. But we
are assured that on Saturday last the brokers
telegraphed proper explanation to the New
York Cotton Exchange, and requested the
secretary Of the latter to telegraph the same
to all other cotton exchanges in the United
States. This is all we'll enough as far as it
goes but the men who attend these eX-
changes, and who read and understand the
difference between the old and the new mode
of estimating sales here. as but one in q
thousand Of the great mass OF producers and
dealers scattered over the world who will be
weeks and perhaps months, wondering over
the apparent dullness of Liverpool
How long this thing will contiue to act and
react upon prices no one can tell, but that 1t
has already been source Of some depression
we cannot doubt, and we fear the effect will
not pass away as soon as some seem to an
ticipate. 1t is to be hoped that the brokers
will soon make arrangements by which the
public will be furnished with daily estimates
Of the cotton forwarded. 1t is said this can
not be conveniently done; but it does appear
to us that the same machinery that is made
to work on one day in the week can be made
to work every day. Unless this is done the
new system will, we fear, introduce greater
element Of uncertainty into our statistics then
heretofore, and perhaps lead to individual
and roundabout efforts to obtain approximate
estimates Of the weekly figures Of cotton for
warded before they are made public in the
Brokers Circular.
II no better plan can be adopted, we would
respectfully submit that estimates of the cot
ton forwarded should be given in the daily
reports issued under the authority Of the
Cotton Brokers Association, and corrected at
the close OF the week, as il now the case in
regard to the daily sales and the proportion of
these made to the trade, and on speculation
and for export. Ii it is important to know
what is being done here in Liverpool from
day to day, it is Of nearly equal importance to
every department of the trade to know daily
the amount Of cotton forwarded.
Our market has been further depressed
this week by the suspension OF a London
firm-Messrs J. G. i'm Thurn x Co-with
liabilities variously estimated at from e., OOO,-
600 to e3,OOO,O0O. This great failure has
already pulled down one or two other well
known firms, and it is feared other disasters
will follow in the train and that Manchester
will suffer to some extent. These suspen-
sions have not grown out Of any strngency
in the money market or a lack of confidence
in commercial circles generally, and none
further having been announced to-day we
hope and believe that the uneasy feeling at
present existing will soon pass away.
E>rIMATkE VISIBLE srrrLY.
1c15. lce& 1c.3
Stock in Liverpool this
date .. 6sc4O lib 400 G06 80
London this date. los. ia0 1c22cO l..,sOO
Continental ports
last week $50 4Ul 800 5;3 $50
American ports this
date ~ g.. 900 694o 900 554 900
Anaat from America for
Lp"ol Tel dates 800. 900 :}2s 600 10000
East India Lpool
Tel. dates .-..-...I.S 900 49, 600 l.1000
East India London
etc. Tel dates - G2 coo $1,000 l140O0
America for Cont
mental Tel dates 30s 900 2a- 0oO $50 900
:. East India Cont
Leut Tel. dates. 49,. 81 900 1900 5000