The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-08
COIMERCIAL MATTERS, Etc.

The leather product OF Massachusetts il
valued at $29, 0OO, 900.
An Importers and Traders National Bank,
with capital of $5'O,O0O, has been projected
by capitalists in Boston. Its main object is
to loan money on merchandise, in bond or in
store, and on grain or cotton, in transit OF
warehouse.
The Vicksburg Herald says: "The young
man who raises bale OF cotton is doing more
for Mississippi than the thousand men who
white pine sticks and wonder when money
will be easier"
A man in Philadelphia has q postal card
with over 470O words written upon it, and he
expects to write 1000 words more upon it,
making 600 in all It is to be sent to the
Centennial Exhibition.
The New York Central Railroad, it is said,
receives larger amount of money on account
of the sale of tickets in October than in any
other month, and more through tickets are
sold in that month.
The Adams and the American, which are
the two great express companies of the coun-
try, employ about 5000 men, 1900 horses 1900
wagons, and use 5000 iron safes. Their
agents travel more than 100000 miles daily,
or nearly SO 00O,0 900 miles yearly.
The salt trade OF Grant county, New Next
90, is becoming very large. The salt is
gathered from the shores Of the lakes near
the Tulerosa and Guadalupe plains. These
salt lakes have been considered worthless,
but now they are beginning to produce a
large annual income.
Varnall & Tnmble, one of the oldest houses
IN Philadelphia, have suspended. The trou-
BILE was caused by the shrinksge in the value
of soda ash and other chemicals. which they
imported largely, and the failure of the Med
ford, N. j., Glass Company, in which they
had large interest. They owe less than
$2O0, 0OO-the most of it due in England.
Their assets are large, and they propose to
pay dollar for dollar in IL, Is, a. and 80
months, with interest, which will probably be
accepted.
Our importation of foreign molasses, mostly
to 1872. 568 hhds. OF this quantity the largest
portion went to Philadelphia, being $4,000
more than to New York. Thus tho relative
imports have been for the six months: Phila-
delphis, hhds, SO, 1888; New York. 70, Ala; Bos-
ton, A 1888; Baltimore, SO SAL; Portland, 49,
1852. Last year for the corresponding period,
New York received, hhds, 1878, against
Philadelphia, 81, $780, The increase at Phila-
delphia this year is said to be due to the fact
that the refners of molasses in that city Sc
cured large supplies in Cuba by contracts
early in the season, and their refneries have
been steadily running for some time, thus at
tracing consignments there, while in New
York scarcely refinery has been running
How the Government Loses Money.
There is deal of just criticism with regard
to the prodigal manner with which municipal
corporations in the United States have wasted
their substance in the creation of debt at high
rates of interest," such as the issuance of and
8 per cent bonds at 50@75c market value.
The Radical Government OF the United States
may justly claim precedence ia this matter,
however as one instance will illustrate: The
bonds Of 1864 are now being redeemed by
the Secretary of the Treasury at par, and it
is pointed out that in July, 1864, these bonds
were sold at par in greenbacks while gold was
at 257 The account is stated thus:
10000, 900 bonds in gold for ...... s., sol 900
0,000, 900 bonds redeemed in gold. 10000 900
Net loss to the United States .... 50, 499, 900
The annual interest on this SO, sol, 900 of
borrowed money has been $500. 900, or 10 per
cent, and the total cost to the United States
for the use of So, sol, 900 for eleven years has
been SIG, 600, 900. The bondholders have
been paid per cent per annum in addition
to nearly three times as large a principal as
they loaned-have received nearly SIS for
every 81 invested. A magnificent feat, truly.
The explanation of this is that the Radical
Congress forgot to stipulate that the principal
of these bonds was payable in gold, until after
they had sold them on currency valuation.
The after-work was neglected until 1868.
luckily for the bondholders, but disadvanta-
geously enough to the country, and this is
only q sample. uier-Jownal.
Money and Trade of the West.
The Chicago Times complains that things
are still very dull in that quarter, with the
volume of idle capital rapidly accommodating |
It says:
"The reports received on all sides about
business, the demand for money, and other |
matters of general interest were fully as un- |
satisfactory as at any time during the past |
month. Bank patrons of all classes we're re-
stricted in their calls for favors and assist |
ance and with no improvement in the condi-
ton of the various avenues that commonly
furnished employment for idle funds, the out
look, to say the least, was enough to make
the banks indulge in little tault-fnding.
Still the feeling was quite healthy, though |
money was easy, and the low prices of bust
ness paper off sred in the market met with
ready takers. Interest rates were quoted at
6 to per cent. Interior orders for currency
were unimportant, and insufficient to affect
country balances"
Fashions'in Shipbuilding.
There are fashions in shipbuilding as well
as in other things At present the three
masted schooner is the prevailing mode in the
United States. Where formerly it was the
custom to rig hull as brig or bark, it is
now the fashion to make her a fore-and-aft
vessel, with three masts and generally CEN
ter-board; and these scbooners sometimes
reach thousand tons burthen. They are do
ing the chief lake, coastwise, West India and
Gulf trades by sail; occasionally some of the
larger ones venture across the ocean.
The Philadelphia Ledger, in suggestive
article on the subject discusses the question
whether, as they can make an ocean voyage
with probably as great safety as a square
rugged vessel, they ought to go more largely
into the foreign trade OF late there has been
, tendency in that direction, though there is
, drawback to these schooners engaging in