The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-12
COMMERCIAL MATTERS, Etc.

A Detroit paper says the farmers in the in.
terror of Michigan owe the merchants over
$5,OOO0O0.
All the New England pin factories are in
full blast, Notwithstanding the dull times.
The corn yield of Iowa this year is estimated
at 120, 900 bushels, worth $40. 0OO, 900.
One hundred illicit stills have been de-
stroyed in the mountains of Northern Georgia
within q short period, and ninety persons
have been convicted of illicit distillation.
Agents of Baltimore tobacco houses are at
Hartford, Conn.,, buying up all of the Connec-
ticut crop of 1874 that can be found in that
vicinity, and 10 tons were bought during the
past week at from % to 80 cents pound.
A cubic inch of gold is worth SAG; cubic
foot, $252, 1888. The quantity Of gold now in
existence is estimated to be So, GOO, 600, 900,
which, welded in one mass, could be contained
in cube of % feet.
A deposit of chloride of silver that prom
Uses to occupy an important place in the bust
ness OF the Pacific coast was lately made in
the Pinal Mountains, Arizona, IS miles from
Florence. The mineral is so rich that large
Jumps of it are worth $l2 pound, and two
men in five days dug out ore worth $4,000,
or at the rate of $1,000 day to the man.
Notwithstanding the coal mines on the Pa
cifc coast, and the frequent reports of new
discoveries, importations OF coal to that Sec
ton from the East are on the increase. There
have been imported this year 293, 600 tons of
coal, against 235, 300 tons during the same Pc
Rod last year.
The New York Herald says that a comparative
table OF receipts Of grain in New York fer
the first nine months of the years 1874 and
1875 shows falling off of Is, 772, 519 bushels
Reports from Baltimore show that she has
more than held her own for the same time in
1874 and 1875 while Philadelphia exhibits an
increase of half million bushels or more.
The director of the Mint is preparing to
coin ten, twenty, and fifty cent silver COINS
and issue them in redemption of fractional
currency. There is now in circulation $40,-
683, 575 of fractional currency, and S1200O,-
are in ten cent notes, 81, 800, 900 in fifteen
cent notes. So, 00O, 900 in five cent notes, $1O,-
5000, 600 in twenty five cent notes, and $15,-
600, 900 in fifty cent notes. Hence 1t will
require 120, 100000 dimes to retire the notes
of that denomination, and two years will be
required to coin them alone, unle IS the coin
age of all other places be suspended. 1t will
take 4O, 600, 600 quarters to replace the twenty
five cent notes, and 80, 600, 900 half dollars to
replace the fifty cent notes. 1t is believed
however that at least S., 0O0 900 of the frac-
tional currency has been worn out in circu-
lation and will never be presented for re-
demption.
Increasing Activity in Money at the West.
The Chicago Inter- Ocean, after noting a
more active movement in all branches of local
finances, says:
There seems to be an increase in almost
everything. The country demand for cur
rency is somewhat larger than the daily aver
age last week. The country orders for re-
mittances are a good deal larger, and the
demand for money is increasing from all
classes of borrowers at rate that fore
shadows an increase in rates of interest
within a few weeks. The aggregate of de-
posts in the banks of this city is, as near as
we can estimates 100000 less than it was
two months ago, and when it is remembered
that this is about twenty per cent of the total
of commercial deposits in the city in July, it
will be seen that the decrease has been large
enough to warrant the expectation of an i'm
portant change in the relative supply OF and
demand for money.
The receipts and shipments Of grain and
other products have about balanced each
other for the last two or three weeks SO that
there has been no accumulation of products
here, but the whole movement from the coun-
try to this city md from here eastward is
smaller than usual at this season of the year.
The fact that the country banks are ordering
large amounts of New York exchange, in order
to supply their merchant customers, indi
Gates that Eastern debts are not being paid
with the proceeds of the recent 'sales of pro-
duce SO much as by the drawing down Of bal
ances that have been held in the banks here
all summer, and the inference is that the
wheat, particularly, is being held back for
higher prices
The Tribune of the same date has the fol-
lowing:
"The calls for currency and discounts from
country correspondents upon Chicago bankers
L. I~osu s,h< 81 ,ktn
One leading banker told us to-day that his
mail both In the number of letters and in the
amount of business fx exceeded those of any
other day in the histofy of the bank. Bank
era are in the best Of humor, for the piles
cords almost-of currency they have had
piled up in their vaults till the recent activity
commenced are finding profitable employ
ment. In this city the settlements of the LIST
and 4th Of October have been made without
a ripple The clearances were only 81, 4OOO,-
600. Customers obtained funds tor the ask
ing to meet all demands that were made upon
them"
Value Of a Cuban Dollar.
It having again been claimed that the vatue
Of the Cuban dollar as used in Invoices OF
goods exported from Cuba to the United
States should be equal to dollar in United
States money, the Secretary of the Treasury
has causedsa careful assay of the coin to be
made, the r6Sult sektaining the ruling of the
department last January, and the value will
remain IS formerly decided, at 92l.
Hon. jefferson Dawis and Direct Trade.
In his speech at Hopkinsville. Kentucky
on the 9Th inst, Mr.. Davis was sorry to see
that after the tobacco had been grown it was
shipped over railroads, over the ridge to reach
the seaboard instead of being sent down the
natural current to the mouth of the Missis-
sippi, and strongly urged the adoption by the
South and West Of direct trade with foreign
countries by way Of river. This, he said,
could be most cheaply done by tugs and
barges to the elevators at New Orleans where
the produce could be transferred to large
ships for export He trusted that this plan