The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-19
COMMERCIAL MATTERS.

CUMMEkCIAL MATTERS.
a The Boston bankers have an association fr
7Ghe suppression of counterfeiting, which bel
It's annual meeting last week and arranged
list of rewards for the detection of connie,
letters and forgers
A story was current in New York last wee]
to the effect that the spectators in gold lateI
bought E2OO, 900 prime sixty-day sterling 70
the purpose OF increasing their control OF tn
goid loan market; that early in the weel
Inese DIS began to appear on the market
some saying that the clique bought more thai
they could carry and were forced to sell.
Inc decrease of immigration and the fallin
on IN exports of domestic products is having
depressing effect on steamship Interests, AM
II Is said, some of the lines to Europe are no
meeting expenses from current receipts
From about hundred steamers RAINING
regularly between the United States ant
Europe year or two ago. the number has
been reduced to fifty The announce
ment That no less than three hundred steam
ships are laid up in England, for lack Of pro
ntable employment, affords an indication OF
the depression Of the carrying trade, which
also affects sailing vessels
Mortgage loans in New York city are in.
creaslng IN number, and com parison of the
amount of money loaned by life insurance
companies and savings banks shows an in.
crease over the corresponding period for last
year. The demand is, doubtless, greater. VET
the fact while not of the greatesta dvantage
IN It's direct relation to real estate is valuable
as showing return Of confidence in landed
securities
The Grand Opera House in New York.
which belongs to the Erie Railwa Company.
Is reported sold to somebody-it is not vet
positively known who-for S75O,OOO. A cur
rent rumor has it that A. T. Stewart is to be
the purchaser, and that his intention is to
convert 1t into grand retail dry goods palace
Tor the West Side. The amount to be maid
tor the opera house is S75OOOO, and including
other property sold in connection with it, the
amount realized will be over 81, 900, 600.
Lille insurance seems TO be popular in Bos-
ton. The Herald of that city enumerates the
following pollces held there: by Mr. Albert I.
Is. Ames, for S106,00O; by Nathaniel j. Brad.
lee, tor 500, 900; by Gustavus A. Jasper and
Benjamin f.. Stlrtevant, for SlOO,O0O each;
aEd by Rufus A. Willis. for $50, 600
The gold coinage of the United States mint
during the month of January, amounted to
81. 1872, $50; subsidiary silver coinage. S4l6.-
255; trade dollar coinage, $500, 800 Of which
S6So,OOO were coined at the new mint in San
francisco. The exports of trade dollars to
China during January amounted to S641, 600
The North Carolina Senate has passed the
usury bill providing for forfeiture of the
whole amount where an excess of 8 per cent
interest is charged for loans The Charlotte
Observer says: "We heard the president of
one of the Charlotte banks remark, a few DAYS
ago, If the Legislature passed stringent usu-
ry law, not a merchant IN Charlotte could get
over the financial crash that would inevitably
GENE, as the banks would certainly call in all
their money"
In the investigation of life insurance
company at New Haven, Ct, some of the
most extraordinary evidence ever read was
brought out Among other things, the archi-
tects plans and specifications for q magnifi-
cent insurance building were produced, when
the company's attorney said that the plan
and specifications presented "were actually
drawn up after the building was completed !"
The books of the company being examined,
an item was discovered by which it appeared
that the Rev. DR.. Leonard Bacon was paid
$40 for offering a prayer at the laying of the
cornerstone OF the building
Surrendcrs of National Bank Circulation.
BY the act of June 20, 1874, the surrender of
national bank circulation was greatly facilita-
ted. Banks were thereby permitted to deposit |
legal tender notes with the United States |
Treasurer to an amount equal to their |
circulation, and withdraw their |
bonds deposited to secure the circula-
lion. Under this provision national |
banks in all parts Of the United States sur
rendered S7.7O1, 100 between the 2Oth of |
June and the LIST of October, 1874. From
October, l, 1874, to February g. 1875, the
mount surrendered was 50. 1913, AS, making
! total of 1884, 245 OF circulation surrender
ID since June 20. The amount of additional
circulation applied for under the new finance
aw which made banking free, and which went
Mt ont An, "a 0f T,,x, hoc Lno, |
learly SS,000,000 up to the present time, but
s it takes time to get the plates engraved and
he notes printed for new banks very little Of
his has been actually issued vet.
Somewhere about $500, 600 has been issued,
ut the most Of it is presumed to have been
0 banks already in operation, which were
My increasing their circulation, and, conse-
uently, did not have to wait for the engrav-
1g of new plates. The total amount of ]
ational bank circulation outstanding on
'eb 9th, was 1916, S22. ST., but included in
hich had been ''surre ndered' by the anls
nat issued it, and which the United States ,
treasurer will redeem-as fast as it is sent
with the greenbacks deposited by the ,
anks that surrendered it, The largest I
mount of national bank circula alton that has j
cen outstanding at any time since the organi- {
ltiOn of the system was about 1851 ,O0O 900, Q
lortly before the act of June 20, 1874. The t
ygregate has, therefore, decreased about c
1, 900, 900 from the highest point, and will,
robably, be reduced more yet in the next
onth by the redemptions above referred to. =
Foreign Exports Of Provisions.
New York Produce Exchange W.ekly.l
The position of the foreign exports of the |
w crop from November l to February 6, ;,
ON the principal ports in 1S7475, as COM ',
red with the exports from the same ports /
/ the like period in 1873 IA, is as follows: j
1874. 1S74-7S. Decrease. n
rk, lbs . q, 400 49, $4,000 1855, 400
rd, lbs. 63,3l1,7S) 62,S44,4G8 467,3l2
con, lbs. .139 79t,071 923 4O,005, 143
Total. -. 1924, 663,25l 175,535,79l 5O,O27s60 g
The Progress of Pork Packing. u
The Chicago Commercial Bulletin of February ,,