The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-11-25
COMMERCIAL MATTERS, Etc.

total, $43 654, 708. The deposits Were uoiu,
s3S, $50, 1893; silver, SIG, O7O, 626 Aoai.lonai
'aults will be required in treasury onces IN
various parts of the country TOR the Storage u
snmntion ~ snecie payment. An addition OF
essaying facilities to the New orleans Niin' 10
suggested.
The Great Strousberg Failure.
The failure of this great railroad contractor
was in fact more i'm portant event in itself
than the failure of Jay Gould Co., and the
only reason that it did not cause as great q
panic was that for two years the threaten'n g
aspect of the financial horizon has induced
everybody both in Europe and this country
TO take in sail and keep as close to shore as
possible. European letter to the London
Economist gives the following particulars:
DR.. Strousberg, whose failure was an
nounced by cable about two weeks ago, ap-
pears to have been a Berlin Spectator OF
notoriety, having gained special prominence
in connection with large issue of Rouman-
ian rail way bonds which were subsequently
repudiated by the Roumanian Government as
unauthorized. His suspension occurred IN
this wise: On the 23d nit. the Commerce and
Loan Bank of Moscow stopped payment, and
the cause appearing to be the losses OF the
bank through Dr.. S.rousberg, who was at the
time in Russia he was arrested on the 10th at
St Petersburg, apparently as debtor only,
though criminal charges against some OF Tue
directors, who have likewise been arrested,
are also limited at in the Russian press and ll
correspondence from ST. Petersburg Ahe
arrest was followed instantaneously by pro-
ceedines in bankruptcy against DR.. Strous
berg, both in Germany and Austria. bis IN
solvency is most complete.
He possessed large iron works and estates
in various parts OF Germany, besides an
estate in Poland, and the domain of Zoirow
in Bohemia, for which, it is stated, he had
maid $500. 600, and where he established a
large railway carriage mandatory, employ
ing 5000 men, but This domain in Bohemia Is
found to be mortgaged for el, 10000 no cash
is left to pay the wages OF the men, and one
of the German creditors explained that there
was practically no assets except "a thalers a
SGT (about eS) in cash, and the furniture and
effects in DR.. Strousbergs residence in the
Wilhelmstrasse. Other stories are current IN
German press as to the utter want OF ready
cash in hand when DR.. Strousbelgs arrest
took place, and which show how completely
he had used up every resource to stave OF the
catastrophe Altogether his liabilities are
estimated at about 81, 700, 900.
EFFECT OF THE sTRoUsBERG FAILURE ON EURO
PEAN FINANCES.
The break down of Spectator 90 largely
interested in recent railroad enterprises strikes
a direct blow at banking and commercial in
terests in Germany, Austria and Russia, and
so far accounts for much of the uneasiness
recently reported as existing on the bourses
of those countries. The loss in Austria seems
likely to be confined mainly to the risk OF
stoppage of the carriage works at Zbirow,
DR.. Strousberg apparently having been able
to borrow very little in Vienna. Ia Germany,
however, his acceptances are spoken OF as
amounting to about 6, 100000 thalers or about
$500, 600, and the loss thus to be occasioned
will be severely felt.
It aggravates most materially the present
depression in Germany, where other serious
failures, especially in Leipsic, have lately oc-
Cured. In Russia the consequences may be
even more important. The Commerce and
Loan Bank of Moscow was not very i'm
portant institution, its capital being 5000, 900
roubles, or about e40O, OO, and its liabilities
about co, 500, 600 but its downfall was suftl-
cient to cause an incipient run upon the other
banks in Moscow and some apprehension
throughout the country. The run on the
banks appears to have been instantly allayed
by an assurance in the Official Gazette that the
disaster was purely exceptional, and by the
presence of delegate from the Russian Min
istry OF Finance, empowered to give the as
sistance of the government TO the other
banks.
Progress of Pork Packing.
The Chicago Daily Commercial Bulletin, OF
the 21st inst, says:
packing has progressed very favorably at
this point during the week just closed--that
is, considering the fair receipts OF hogs
Prices Of hogs have been maintained too high
to warrant packers in running to their full ca
pacity, and the prices current for the product
are not satisfactory to either manufacturers or
shippers. The quality Of the hogs SO far has
been good-better than at this time last
year and few complaints are made by ship
pers and packers. The feeding of new corn,
however appears to make the meat less solid
than usual, and the shrinkage is greater than
last year, and the yield eff lard proportionate-
" less. Packers are combining their manu-.
facture largely to meats, as the demand is
more urgent and prices proportionately bet
ter than for the barreled product At Cincin-
natl packing is progressing slowly, as manu-
facturers are moving cautiously combining
their operations to filling previously made
contracts and supplying the order demand
from the South.
At Louisville four or five houses are en-
gagged, but the aggregate slaughter is less
than at this time last year. At St. Louis q
few more houses have been opened, and the
business has increased somewhat. The de-
mand for meats in small way has induced
more active operations. At Milwaukee bust
ness is fairly active, as packers made quite a
number OF contracts early in the season for
product to be delivered during this month
and next. At Indianapolis business is moder-
ately active, but the bulk of the manufacture
is confined to filling foreign orders. At other
points in the West packing is progressing
slowly-more so than usual at this season OF
the year. Packers are generally unwilling to
pay current prices tor hogs, as they have not
the facilities for readily disposing of their
product such as packers at the large cities
have-and they are not disposed to carry the
product forward. At q number OF points
packers will not open their houses until after
the beginning Of next month, and at Others
where slaughtering is commenced. the num-
Der reported is fewer than at this time last
year. There appears to be no doubt now
that ne month Of November will show de.
cided decrease in the aggregate packing o.
the West as compared with last year, though
the quality of the hogs will generally show
an improvement.
The Rio Coffee Market.
he E.