The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-09-02
COMMERCIAL MATTERS. Etc.

~~~> - 4 A~AspSS AVOs
The aggregate value of the tobacco crop in
the Connecticut Valley is about 81 600, 900.
The tax on mortgages was abolished in
Maryland some time ago, as it worked q
double tax on the property. In Pennsylva.
; mia that character of tax is still retained.
There mortgages are liable to tax of three
mills on the dollar, three cents on ten dollars
thirty cents on the hundred dollars, and three
dollars on the $1,000.
One cent an ounce for third-class mailable
matter, including all kinds Of merchandise
samples and transient newspapers, like our
extra edition, is the outrageous toll exacted
from merchants and newspaper men by the
surreptitious amendment to the postal law on
the Sd of March last. We hope it will be re-
pealed as soon as Congress meets.
The Marlborough lMd) Gazette says that
the promise of large tobacco crop in that
county will not be fulfilled, and adds: "The
constant rains have been very destructive,
and We believe there will not be housed more
pounds of tobacco than last years. when the
crop did not reach the average. The accounts
of the destruction of the Ohio tobacco CROPS
by rains have already had their effect upon
prices; and Maryland crop it is said, in the
report Of the Baltimore market, that the I'M
favorable weather and damages sustained in
Southern Maryland have tended to strengthen
prices
The Lake Carrying Trade.
There is a general complaint of the dullness
among the boatmen all along the North.
ern lakes. The Buffalo Express tells the story
in this wise: "Vessels, tugs and canal boats
in large numbers are lying idle anticipating
better times Two cents bushel is reported
as the rate on corn from Chicago to Buff.lo,
and vessels that get that even are deemed
fOrtnuata IF thu hulk If vooca1a of Ghicao0
and we understand from Capt. Balm, of
the Onondaga, that there were counted
there last week 1875 vessels, inclu ling
many OF the largest on the lakes, should seek
to load at once, they could not get one cent
per bushel on corn to Buffalo. There are no
grain laden sail vessels on the lakes to speak
Of The Onondaga arrived Saturday night,
and was the last from the straits. Here, the
River Towing Association, under the manage
meat of Jones Il Maytham, have laid up and
placed in ordinary the greater portion of their
tugs, leaving only three or four for active
service. Of canal boats, the canal ands lips
are full of them. There are probably not
less than 800 in port"
The Situation of The Coffee Market.
An attempt is now being made to control
the coffee market and to force price still
higher. In our opinion it will be but partially
successful, and must soon react. The lead
ing spirits will no doubt make enough to
stand whatever loss may fall upon them when
the market breaks. 1t is very probable the
movement will carry all descriptions from one
impression of strong statistical position
both in Rio coffees as we'll as the milder
kinds We recently had occasion to show
that although the Rio crop this year promised
to be small one, the stock remaining over
in Brazil of the last years crop was sufficient
to make up The probable supplies from that
country to full average
1t is true that coffees are being bought up
in Rio at steadily advancing prices as fast as
they come in, and that everybody there &C
knowledges the new crop is small one,
probably not more than !, 500, 900 bags, and
Of good quality. But last years crop was
enormous the largest ever known, and al
though over 100000 bags were exported.
at least 1900, 900 bags of last years crop re-
NAMED over. This added to the new crop
will make the supply for the year at least
5000, 900 bags, equal to that OF last year. Ii
next years crop should prove small one,
there might be some sense in making high
er range of prices, but TO do it now is dis
counting the future at too fearful rate to
stand, and is nothing but pure speculation.
It is most significant fact also that, while
prices are thus being put up, importers OF
Rio coffee will sell in small lots to those hay
ing O distributive trade at prices much under
the quoted market prices. Are they losing
confidence and want to get clear OF some OF
their enormous stocks, or. what does it mean
Baltimore is said to be very active too, and
that market has advanced steadily until Rio
coffee is a cent pound higher than it was
month ago. Is there any of this sort OF I'M
loading going on there ?-N 7. Grocer, 2Sth
uH
The San Francisco Panic.
New York Bulletin
The outbreak of panic at San Francisco,
so far as we can judge at this distance ap.
pears to be the result of long course of wild
speculation in mining stocks. Opposite par
ties of spectators have each captured large
bank for aiding their operations; and banks
thus used could only be expected to fail. The
Bank Of California, whose suspension was the
starting point Of the panic was once con-
SENTATIVE and strong institution; but under