The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-20
COMMERCIAL MATTERS.


Preparations are now being made at the
Treasury Department in Washington Tor count
ing the money and securities in the vaults. rms
ia rendered necessary by the retirement OF Zen
Spinner, who wishes that his successor, Mi. new,
should actually have turned over 70 MN t me
by the books of the department. The count Will
occupy mora than week.
While England is wondering whether she can
possibly st and the strain OF contributing siuoVo,
900 year towards the reduction OF heI nauonai
debt Frauce which pays an aggregate n Ia s "a
ceeding that Of England by over vo - 4He
beenrasing besides this $50 0O0 900 yeav ior inc
reduction Of her debt to the National Bank, ahu
t45, 900 900 for that purpose The conIas. - nos
the London press complains OF the TACT: -, A.
The railroad war is at last ended, ana me o,s-
the fear that it would go until one or the other
of the two great companies would have 10 sus-
pend payment and thus produce long sncces-
sion OF financial disaste' g, has disappeared: Inc
damage resulting to the credit OF the Baltimore
and OHIO and the Pennsylvania Railroad Com
pauies. by their continued warfare OF rates, 10
told ia the past and present prices OF tneir res
pective stocks, RYeyious to the exlstinng d15isr
road (par slCO) sold at 100 per share. 1t is now
ouoted al about ITO with very few sales. The Penn
sylvau:a Railroad (par $500 sold. when the two
roads worked in comparative harmony, at 90 per
dividend, on the LIST of May, sold at 5O1aa, and is
now quoted at about 49294.
From Messrs W. C. Watts & Coils weekly Liv-
erpool cotton report, dated June 4, we take the
following:
The Position, Etc-On Saturday last public
telegram (Reuter's) announced that the Agiicul-
tural Bureau of Washington estimated the acre
age in cotton this year to be three per cent less
than last year. This led to decided improve
in NJ Ol11v m r ct N "a al mr.
teen ascertained that no feport has been issued
by the bureau.
TO- day public telegram, confirmed by private
dispatches, reports that the National Cotton Ex-
change OF New Orleans announced The condi-
ton OF the crop to be every where good, and in
dicating an inc ease in the acreage planted this
as compared with last year OF to 21aa per cent.
This has as yet had no perceptible influence on
our market.
Inasmuch as the crop Of 1S74-75 now promises
to turn out some 500 to 100000 bales less than
the popular estimates in November and Decem-
Der last, very general impression seems to pre-
vail that the crop has been q short one, and that
we may therefore reasonably expect considera-
BILE increase the coming season.
The visible supply of cotton, as shown by our
table, is 1850 900 bales less than at this date last
year. English spinners hold about ~, 900 bales
lees, and Continental spinners, it is generally
believed, hold about 80 900 bales less. The It's
tics of the receipts at, and shipments from, Bonn
bay indicate that the stock in that port, includ-
ing the cOltOn OH sulpUOdIu, Is GDOut IUUUO DaieS
less, and the stock at Alexandra is about 90 600
bales less. The stocks IN the American interior
towns and on plantations, we suppose to be
about $1,000 less, and American spinners hold
perhaps some $4,000 bales less. On the other
hand. the shipments reported at sea from Brazil
for England and the Continent, are "a, 900 bales
larger.
II we take into account all these items, the
actual supply of cotton in the world is 43S, 900
bales less than one year ago. But many OF these
items mere estimates based on the best in
formation we can obtain. In order to take what
we consider very conservative view OF the posi-
ton let us suppose that the actual supply, in
stead of being 43S 000, is only $50 900 bales less
than at this date last year. This means that
consumption has gone $4,000 bales ahead Of
production, and making what we suppose to be
very moderate allowance for increased consump-
ton next season, in Europe and America, it
seems evident that the world will require next
season a much larger crop in America than tie
acreage returns to which we have referred, as
sumlr.g an average yield, would seem to promise.
On the other hand, we should not lose sight Of
the fact that the strong statistical position has
largely contributed to sustain prices for the past
eight weeks, during which period English spin
ners have taken from this port and London
about 100 600 bales less than their cons umptiOn.
Their stocks are, however, now reduced to within
about sc, 600 bales of the lowest point touched
last year ION 10th Of Septamber). From this
date TO the 9th Of Septe nber last year they
took from this port and London an average Of
the average consumption Of the year.
The long period Of extreme dullness that has
characterized this market has as usual democrat
lied some holders, and in order to effect sales
they are now selling cotton for June delivery at
T5ad and August delivery at 77sd, basis Middling
Uplands, which is I'd to I'd below the parity Of
spot quotations. Vi course 80 long as this pro-
cess continues there will be pressure to sell cot
ton on the spot, and lower prices may follow.
There were several very heavy failures il Lon
don early this week in connection with the iron
trade, which have caused much uneasness, and
in some measure contributed to the dullness here
and il Manchester
The stock Of cotton held by English spinners
We now estimate at 144 600 bale, against 221 0CO
Last year, ana 10000 the year before at same
date.
The Missi sippi Levees.
At the meeting Of the National Board Of Trade,
held at Philadelphia on the 10th inst, the subject
of the improvement Of the Mississippi levees in
the States OF Mississippi, Missouri, Louisiana
and Arkansas was, on motion Of Mr.. O0vingher,
OF Cincinnati, indefinitely postponed, the mover
arguing that it was Impractical, as well as un-
constitute nal. The Government had no more to
do with that small tract Of land it was expected
to benefit than with the Jersey Flats.
St. Louis and South American Trade.
Direct trade between St. Louis and the Orinoco
Valley, which has long been fond expectation
on the part Of the merchants OF the Mound
City" would seem now to bs on the point Of full
Eknent. A few ldays since, as we read in the st.
Louis Trade Journal, meeting Of merchants
and business men was held at the invitation Of
Mr.. Frederick A. johnson, to examine the plans
and representations of that gentle man. who
seems to be the chief inspirer Of the enterprise.
After brief address, Mr.. johnson read the
original charter Of the American, English and
Venezuelan Trading and Commercial Company,
the confirmation Of the grant Of the immense
tract OF land by the United States Of
venezuels to DR.. Henry M Price apd
his associates; the Official documenAs
by which Mr.. johnson was created Director GEM
eral And attorney intact with power to confer as
sociate privileges and other papers Of import
ance. Mr.. Johnson stated that among other
things the Valley of the Ornoco produced TO-
bacco rvaling that Of Cuba, and cotton equal to
the pest Sea Island. In proof of the latter as
sertion, he exhibited q small sample grown near
Port LIS Tablos, on the Carooi River, about sixty
miles below Bolivar. This sample, although now
three years old and somewhat discolOred by age,
is very fine specimen, long staple, and Of ex-
ceeding fine texture. This cotton is replanted
every fifth year, grows readily two crops year.