The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-17
COMMERClAL MATTERS,

A curious instance of the cheapness of
wheat and the dearness of provender at the
same time is given by an English farmer in
the Mark Lane Express, as having come under
MS own notice. A farmer sold the wheat
grown on one field for esq sterling, but for
the straw which produced this wheat he OBJ
tanned EGO.
Among the shipments to Antwerp by the
Faderland, from Philadelphia last week,
were 700 sewing machines.
About 240, 600 women are engaged in the
production of lace in the Department of
Calvados and Aveyron, France. Flax, silk,
gold and silver wire are the materials. That
made from fax is tire most valuable.
Among the new enterprises lately started in
Philadelphia is direct line of sailing pack
cts between that port and San Francisco, on
which will be placed some Of the fastest ships
afoat the new ship Centennial" of 1886
tons register, and built at East Boston by
Smith and Townsend. will be the pioneer
ship Of the line.
The draft OF the new Constitution of Mis-
souri,, SO far as adopted in convention, for
bids the Legislature from making any grant
OF public money to any individual or corpor-
ation, and forbids counties, towns and all
other subdivisions Of the State from lending
their credit to any individual. corporation OF
association, or taking stock in any corpora
ton or association whatever.
Including the vineyard production, it is
estimated that California is now producing
six million dollars worth of fruit yearly.
The California Bulletin, speaking of the fruit
interest OF the State, says: "The fact is, the
more profitable avenues of fruit culture espe-
c,ally such as relate to commerce, have hardly
been explored at all as yet. Our six millions
OF fruit production are only the primary items
in the future account Of the fruit culture in
this State"
1t is said that Gen. Spinner retires from the
position of United States Treasurer as poor Is
when he accepted the place. He might have
made himself a millionaire, but he did not, it
pitied by the leaders Of his party as the victim
of neglected opportunities.
Business Revival.
The New York Times finds an indication of
q revival Of business in the decrease of the
reserve Of legal tenders held by the New York
banks The average last week was $40 66l,-
200, which is So, 170, 800 less than for the week
before. The Tnaes says:
This is enc of several significant facts
which, especially when we keep in mind the
season of the year, point to substantial re-
vival of business. Among these is the fact
that the July dividends discussed in Boston
this year are reported as considerably
in advance of those of Of January, and still
further advance of those of year ago; at
the same time, the statistics of the year 1874
for railroads show q slight increase in divi-
dends paid that year over 1873. 1t is not i'm
possible that the autumn may see compare
lively active business, though we can hardly
believe that values, especially in articles of
food, have "touched bottom"
Specie 10 the Bank of Franco.
The supply of gold in the world is going to
be matter of great consequence to this
country when Bristow begins h. policy OF
boarding gold for the resumption of specie
payments in 1879. The London Economist
remarks in reference to the stock accumu-
lating in the Bank of France, which has in
creased in year from ESQ, 1898, 900 to ESQ.,
23S, 900:
"The Bank of France does hot pay its
debts in specie, and therefore it is impossible
to get at its stock Of precious metals, except
in so far as it voluntarily chooses to dole out
a little of them. The effect, therefore, of
this immense accumulation is to make the sup |
ply of gold much more scanty than usual, and |
much less adequate to the work of the world. |
And, as has been many, SO many times said, |
the demands upon this unusually deficient |
supply are unusually great. If Germany per- |
severes-and almost certainly she will perse-
|
silver coinage, she must have more gold |
for the purpose. The original amount of
gold which she coined was very INSULT cient
to complete the operation, and of that amount
an important part has been exported, and |
sooner or later, therefore, we may be sure
that Germany will compete for serious share
in the gold supply which France has already
rendered scanty. She can only-or at least,
can far best-do so by taking gold from this
market, and it is of the highest inheritance
that .the reserve in the Bank OF England
should be kept peculiarly strong.
An Enxis View on American Cotton Mills.
A correspondent Of the London Standard,
writing from New York, said:
First. as to the North. have some facts
bearing upon the profits of cotton manufac-
ture in six mills, which have been adduced to
prove the proftableness of Northern manu-
features give these as presumably correct.
The, Chicopee mills, with capital of $780,
900, made an average profit of 265 per cent
during the period from 1852 to 1871, the
period of the six calculations The Salisbury
mills, with capital Of ~, 600 600. made
% IS per cent; the Pacific, capital 50, 500, 600,
made 81 rs per cent; the Namkeag. capital
81, 500, 900, made 10 60 per cent; the Merri-
mac, capital 50, 500, 900, made Is 5 per cent;
and the Middlesex, capital $780, 900. made
125 per cent These profits, leaving out OF
calculation the capital invested, show an
average per centage of 1898. But the result
is pretty nearly correct, as We see two facts OF
opposite character namely, that the largest
profits come on the smallest capital, and that
the amount of capital that made above the
general average is largely in excess-nearly
double in fact-that which fell below it.
Secondly, as to the South. have no such
comprehensive figures to show in this region,
for the reason that such industries as these
were all in confusion during the whole OF the
period of great prosperity embraced in the
Northern reports. The Macon Mills (steam)
during the last year or two claim to have real