The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-18

| Aoutu aS tQoy were III February VI lhot yoaA.
Should this be the case, prices here may be
further slightly depressed.
Our own private advices per cable, just to
hand, indicate receipts at the seaports for the
four weeks ending Goth proximo, of $780, 900
to 40O, 900 bales, as against SOB, 900 bales dur
ing the same period last year. Should these
estimates prove to be correct, the chances are
that prices here will, in the course Of the
next week or two, take another upward turn,
for this would reduce the total receipts at the
ports, to the close of February, about $50, 900
bales below the figures for the corresponding
period last year. In other words, the decrease
| in the port receipts from the middle Of De-
| cember to the end Of February, this, as COM
pared with same time last season, would
amount to about 49, 600 bales. Such de-
crease as this will, we doubt not, dispel all
expectation of a crop of more than four
million bales, and SO far as we can learn, the
trade generally consider present prices very
safe-in fact. more likely to advance than re-
cede-provided the crop does not exceed that
quantity.
On the other hand, should the receipts at
the American ports for the next four or SIX
weeks prove to be larger than generally ex-
pected- that is, if at any time they should
equal the figures for the corresponding week
OF last year, and thereby depres5 this marEet
to the extent of s@td. per pound-we are in
clined to the opinion it will have the effect OF
reducing somewhat the acreage planted in
America next spring, and this being the case,
we weuld almost certainly have some i'm
provement in prices next summer, even II the
crop of 1915 should promise to turn out
rather more than four million bales
We are here reminded of the fact that on
Monday last public telegram received here
from New York said that the Commercial
Chronicle, Of that city, predicted an increase
in the acreage planted in Georgia next spring
as compared with last spring. This question
as to the probable extent of the planting in
America next spring is, we conceive, one of
primary importance il determining the prob
able course of prices here next spring and
summer and for this reason we would be
pleased to hear by letter from any and all of
our friends to whom we address this circular,
and to receive such information on this point
as they may consider trustworthy.
The stock Of cotton held by English spin
ners we now estimate at 200, 600 bales, against
Ill 600 bales last year and lao, 900 the year
before at the same date.
The receipts at Bombay for the past four
weeks have been larger than we expected,
having amounted to 12t,00 bales, against
SO, 900 bales same time last year; this increase,
however, we suppose to be due to the fact
mentioned in our latest mail adyices that the
crop in some of the districts is earlier this
than last season, but as yet we see no good
reason to change the opinion we expressed in
our annual report, that Europe would get
rather less cotton from India in 1875 than ia
1874 AT Alexandria the receipts have for
the past week or two been even smaller than
was generally expected, and are up to date
about 237, 600 cantars less than last year e.,
63l, 900 against 1,S6S, 000). and there seems to
be very little doubt now that the crop of this
season vii! fall short of last season some &c.
eco to 80, 900 bales, which is rather more than
the estimate given in our annual report.
The Iron and Coal Interests
From the annual report presented at the
meeting Of the American and Steel Association
held in Philadelphia on the 18th inst, we
gather the following interesting facts:
The average decline in price during the
year ending April 30. 1874, was over thirty
per cent Statistics furnished this association
by the Baldwin Locomotive Works on the
25th of April state that, during the first three
months Of 1874, only forty locomotives were
built by them, of which twenty-seven were
for expectation to foreign markets and thir-
teen for home use. In 1873. they built four
hundred and thirty-seyen nirety-six of which
were for foreign account and three hundred
and forty one for home use
At the close of the year the iron trade of
the country was in condition Of greater de.
preston than had evisted at any time since
the beginning of the panic. The quantity of
pig ironfon hand and unsold was estimated at
$50, 600 tons of charcoal and 200, 900 tons of
anthracite and coke. Bar iron had fallen to
q cents at Pittsburg, with a discount to
"good buyers" standard gray forge pig iron
in the same market was offered in large guam
titles at S23. four months; the best iron rails
could be bought at mill at S4S; and best Lee
high foundry pig iron was delivered at Hobo
ken at S25, netting about s23 at furnace.
The mining Of iron ore and coal was neces-
sarily greatly restricted in 1874, in conse-
quence Of the interruption to the prosperity
of the iron business. The wages of ore
miners, of most coal miners and Of most iron
workers were reduced largely during the year.
Many iron ore miners and other employees Of
the iron business have been glad to obtain
work at one dollar day. The miners of an
thracite coal, and of some bitumnous coal,
and many puddlers have not, however, been
disposed to accept reduced wages, and con-
troversy between them and their employers is
one OF the legacies which 1874 transmits to its
successor.
At least million of skilled and unskilled
working men and working women in this
country are OuI Ol employment Today, De-
cause there is no work for them to do Fully |
one-fourth Of these are iron workers, coal
and ore miners, and other mechanics and |
laborers who are directly dependent for daily |
bread upon the iron trade. At the close of
November it was estimated that there were
100000 men and women out Of employment |
in New York and Philadelphia alone.
The total production Of coal in the United |
States during the year 1873 was As, Ala, 400 |
tons, the quantity of anthracite and btumin-
Gus being nearly equal. The production of
both bituminous and anthracite coal in 1874,
owing to the prostration of business has been
very much less. Within the last ten years
there has been an increase in the production
Of over 100 per cent. ASH England, SO in this
the great manufacturing industries
consume the larger part Of the coal that is
produced.
The aggregate production Of pig iron in
he United States in 1874 is about 1900, 900
net tons, or two-thirds the product of each
If the wears 1872 and 1873 The quantity of