The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-13
CONMERCIAL MATTERS.

COMMERCIAL MATTERS.
From the Richmond Enquirer We learn that
. special neeting of the tobacco trade was re-
sSently held ct Richmond, to consider what,
If any, action should be taken in order to the
proper conduct Of the warehouses OF the CITY,
and to the re-establishment Of its tobacco
trade upon sound and healthy basis. 1t
vas at this meeting complained that the trade
of Richmond was being gradually impaired
by the DETECTION of orders to other places.
The cause of this was attributed to the tobac-
co being Improperly packed, packages not
= corresponding with samples, by winch means
the reputation of local merchants was greatly
injured
The inspection laws it was further said
acre defined in every market except Rich
saond, Petersburg and Farmville. Two rem
..edies were suggested. One the immediate
conversion, say within ninety days, OF all pub
he into private warehouses, under the PEN
atty in cases of failure to convert within that
time, of refusal on the part of buyers to pur-
,.shase any of the inspections Of such ware
houses. The other was to. keep open single
export warehouse In either event that the
trade should elect general sampler for the
.pressive of his guarantee of the samples he
draws.
Unfortunately no resolution proposed met
with acceptance, and the meeting adjourned
without transacting any business OF impor-
lance to the public. 1t is to b, desired in the
interest of the Virginia tobacco trade, that
something definite be arrived at to remedy
the evils complained Of.
The Industrial Age, Of Chicago, says that
tEhe dishonesty practiced by foreign shippers
of raisins, is likely to have marked effect in
L. osc:v, 49, IL sv. No1sf A
movement is on foot to systematic the raisin
packing business in California, and establish
uniform grades and full weights, as it has
been demonstrated that California raisins are
cheaper than the imported article. Retail
dealers have been deceived in The relative
cost of raisins, because of the short weight
thievery of foreign shippers. Now that the
facts have been made public, they will prefer
She home products ct less price for super
quality, to the inferior article from over the
water.
A suit involving an important principle to
mercantile agencies was tried few days ago
before Judge Donohue, of the Supreme Court
"A book published by Dun, Barlow Co., la
sbelled for the confidential use of subscri-
bers only" containing statistics as to the
standing of merchants and other business men
throughout the country, got into the posses
sion Of rival agency, and suit was brought
TO recover its possession. Judge Donohue
held that the proprietorship remained in the
publishers, and the restoration of the book
was ordered The rival agency is what is
known as 1.-THE Merchants Agency and Mer-
,aeantile Bureau" under direction of }. Near
Murphy.
AMKRIcAN LOANS IN EURoPE.-From the
,asual monthly statement of the London Invest-
~ors' Manual we learn that the total amount of
payments to be made in May, on account OF
European subscriptions TO American loans, is
= only e28O, 900. This is very exceptionally
email sum, as may be inferred from the fact
that the payments made in May last aggre-
4 gated 81, 754, $50, and that the average month
~ amount for the first four months of this
. nf .this fact to our exchanges is that the sum
We can draw this month against foreign nego-
stations is some Sc, 600, 900 below the average
monthly amount. This has q very obvious
- connection with our current large shipments
-0f specie.
The San Francisco Bulletin estimates the
three leading products Of that State for the
Ssoming season as follows: Wool $4,000, 600,
wine 100000 gallons, wheat 45,OOO,OOO
Bushels.
Two more cases have recently been decided,
involving the liability of national banks for
the value of bonds deposited for safe keeping
without reward, and stolen-one by the Su-
s2reme Court of Vermont Wiley VS.. the First
National Bank of Brattleboro-and the other
by the Court of Appeals of New York-the
Tirst National Bank Of Lyons va. the Ocean
National Bank.
These were both suits to recover the value
of the plaintiffs securities, which had been
deposited in the defendants banks. In both,
long and elaborate opinions were delivered,
and judgments rendered for the defendants.
a. ho11 hat he hov,1
had no power under the National Banking
act, to make contract for the safe keeping Of
zaluables, and in the New York case (approv-
ing the Vermont decision) the court held that
such Q contract was not within the scope Of
the authority of the bank officials.
The outstanding fractional currency at
the close of April was $43, 500, 565, being de-
crease of $3.50, 643 during the month. The
reduction Of the fractional currency would
seem to be an important part of the Score
tary's policy. In March the contraction was
$500, 600; in February, $l33, 600; and from No
vember to May 1-six months-the decrease
the lowest since November, 1872, when the
outstanding fractional currency was $43, 1885,
$50 The lowest point reached during the
last four years was in August, 1871, when the
amount was $38, $685. 600. At the rate of re-
duction during the past six months that point
will be passed in the backward movement
before the close of the present. If anything
Is to be gained by restoring the era Of silver
change this policy is wholly correct and for
some time to come it will be wise merely IS
being contraction of the paper issues, the
outstanding currency being now 80 super.
abundant a. to amount to an imitation OF
Rrcenhacks.
Decline Of Beer Brewing.
fFrom the American Brewers Gazette.
The brewing interest in England has been
ssor many years losing its far-famed attrac-
tions Is q prosperous and lucrative business
From ten to twenty years ago the brewer had
no difficulty in obtaining prices for his
e4nished article which left him very hand
some balance at the end Of the year. For in
8 stance. the price for running ordinary beer
within the time mentioned, at an average,