The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-08-19
COMMERCIAL MATTERS. Etc.

COMIERCIAL MATTERS, Etc.
The capital Of the national banks has nov
reached higher level than ever before. 1t
amount il sol millions, against 487 million
two years ago. The number of the banks i
. 2O76. showing an increase of thirty -one banks
during the last two months. These tbirty-on,
banks have an aggregate capital of about four
millions Of dollars, so that the average capital
OF each institution is less than $3.50, 600
From other facts referred to it appears that the
new banks which are just beginning to rise
up throughout the country, under the stimu.
lus OF the recent financial legislation, are all
OF them banks of small capital.
San Francisco is now receiving her coal
from Pennsylvania by rail. The first ship.
ment Of 200 tons was made the other day, the
freight contract being $25 per ton, and the
cost of the coal Sc. The coal at these figures
is rather expensive, but it is only used for
fine work in blast furnaces.
prolongation Of the "vacation of the
Fall River mill operativesmay prove a serious
business, as more than half the print cloths
in the United States are made there There
are 43 mills at Fall River, running 10000
looms and ], 25O.O0 spindles. The pay-rolls
monthly distribute $500, 600 among people
who need it.
Silver Coin for New England.
The Treasury Department has commenced
the accumulation of silver coin in the vaults
of the Sub Treasury at Boston to large ex-
tent, with view to substituting the same for
the circulation Of fractional currency under
the recent law of Congress- The vaults Of
the Treasury IN the new postoffice building
are located above the main postoffice room,
and with view of securing them from dan
ger from the immense load placed there, Su-
pervsing Architect Potter has directed addi-
tional and heavier beams to be placed under
the section upon which these vaults rest-120
tons having already been ordered to be stored
in these vaults, equal to S10,000,000. The
work is to be pressed as rapidly as possible,
September.
Business In Boston.
The Boston Advertiser says:
Money seems to be more abundant than
eve or to. day, and is offered very freely, per-
haps not on lower terms than last week, but it
is very difficult to find prime paper at the
rates that were then acceded to. 1t appeared
as if the bottom had really been touched, and
nothing lower would be accepted; but, if the
plethora continues, the to per cent which
we have been quoting must give way, and the
lenders will have to do the best they can
under the circumstances until the return to
them of happier times.
An English View of American Trade.
The London Times says that, " although no
serious results are looked for from the failure
of Messrs. Duncan, Sherman & Co., it has
caused attention to be again turned to the
position of American trade and credit gener-
ally" Of these it says:
The American crisis of 1878 produced
changes, the end of which has not been
reached yet in the United States, nor, per.
haps, elsewhere. Capital has been locked up
to degree probably never before known in
the Union and the strain has been constant,
to find ways and means for continuing bust
ness which might be really sound and good.
According to the Philadelphia Public Ledger,
the number of failures that have occurred in
the States in the first half of the current year
is $500, with liabilities aggregating 75,0OO,-
600 GELS, 600, OOO).
This is said to be less average than in |
years before the panic, and it is argued, there
fore, that business is now sounder, but that |
is very doubtful conclusion. Suspension
is much more readily adopted in America |
than here in ordinary times. When man is |
at all pressed for ready money he ''suspends
and let's his creditors wait. Probably in many |
cases these are afterwards paid in full with |
interest, and the man who has thus honorably |
gone through a crisis in his affairs regards |
himself as superior to his fellows who plod on
and steadily pay their way. Ia times Of grow
ing business that was merely an easy if some
what inconvenient way Of asking ones credit
ors to wait the result of current ventures, but |
since the autumn Of 1873 we doubt if such
course has been so open to embarrassed peo-
pie. More probably they have struggled on
against an adverse fate, and Succumb now of |
necessity, and not from choice
Gunny Bags, Bagging. Etc.
The market for bagging has ruled rather
quiet during the past week, with sales both
here and in Boston of about $500 rolls at 13B
913ac cash and 14c time and interest. At
the close more inquiry is noted, and as stocks
both here and at the South are very light,
dealers are expecting good consumptive de-
mand 70 set in within the next few days, with
of higher prices. Bales India are
quoted at 9a@10c; Borneo, 131@13ac. Bags
are quiet and nominal, at l3c tor 44O's.
Stocks of butts here are 1000 bales, and in
Boston 800 bales Sales have been made
during the past week in Boston and here of
about $500 bales, at 3(934c cash, closing firm
ut $50. Sales are reported Of lots to arrive of
about 1000 bales, September October delivery,
1t 23c cash. 2 7-16c and go gold, and 1880
the market closing with prices
tending upward.-N 7. Chronicle.
City that Makes Business.
The Croaker family have quit Minnesota
1t least 80 we infer from the following cheer
Iul items from letter dated at Minneapolis,
August 5: " Everything here looks fresh and
prosperous. This city of 80, 900 people stands
IN site which twenty years ago wa, an un-
inhabited prairie wilderness. Whence this
growth? The mystery is soon ex-
planned. Minneapolis has splendid water
power at the Falls Of st. Anthony, on the ,
opposite the city. With Yam !
zee sagacity these advantages have been i'm
proved, and fortunes have been rapidly made
y this young city has arisen into promi-
hence. q
''Her Touring mills, which are said to have
capacity of 1000 barrels day, consumed
asst year 6,592 500 bushels of grain; her
eighteen lumber mills turned out, in 1874,
81 305, $40 feet of manufactured lumber and
67, 753, 600 shingles. One of the -four mills
8 the largest in the world, and has produc- 6
ng capacity of 140O barrels daily by the old
process. Wooden manufactures also are ad-
'ancing, and the best blankets in the world
re said to be made here. Real estate is ad