The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-21
COMMERCIAL MATTERS.

The suspension of the National Bank Q
Rio Janeiro was announced in New York
few days ago. The trouble was the scarcit,
Of money there, and the fact that the banl
was loaded up with securities which coult
not be made Immediately available. Th'
capital of the bank was 5000, 900.
On the LIST day of August the property o.
auction. The land and land grants are to BE-
sold in the several States and Territories in
which they are located. The other property
is to be sold on the first Monday of August,
in front of the Custom. House. It is said,
however, that the sale of the railroad takes
place in the interest of Jay Cooke, and that ii
will be bought by him.
Some interesting statistics have recently
been published in Cincinnati, showing the
business and industrial resources of that
city. On tho first of the present year, there
were in Cincinnati 4459 manufacturing estab-
lishment, employing 1899 hands; the cap
tal invested amounted to 500, 149, 085, and
the real estate occupied was valued at $751;
251, $50.
The Supreme Court of the United States,
in the case of the Ogdensburg and Lake
Cbamplain r ailroad Company, recently held
that New York corporation had the power to
contract, as q common carrier, to transport
freight to Boston over another railroad out
of the State and beyond its own terminus;
that when the carrier fixes the price for trans
portation over the whole line it is fair to infer
that he makes the entire contract his own.
Money continues extremely abundantin the
Eastern cities, and every one expects that the
plethora will continue all summer. It is re-
msrked in Philadelphia that there has been
scarcely q change worthy of mention in the
money market Of that city for twelve or fifteen
weeks, and in New York the best CONNER
cial paper is readily taken at the extremely
low rates Of and A per cent. But notwith-
standing these great accommodations of
money in the banks. it is remarked
everywhere that there is much less
money in the hands of the people
than there has been for dozen years, and
the small traders and dealers everywhere are
of "hard times" The New
York Commercial Advertiser of May says:
% We to-day conversed with a gentleman
q leading mercantile agency, |
which will soon issue its periodical circular,
md learn that the class of smaller tradesmen, |
weak in capital, who are unable to stand up |
lnder reduced profits, are gradually dropping |
,ut"
New York produce exports are generally
bout As per cent Of the whole exports from
he United States and the imports of foreign |
merchandise at New York about IS per cent of
he whole.
The Erie Railroad has been finally reduced |
o the necessity of morgaging its coal lands
or means to meet its most embarrassing liza
,ilities. The Delaware and Hudson and
Delaware, Lackawana and Western Railroads,
he leading members of the coal monopoly,
AVE advanced the Erie Railroad q sum re-
,orted at $500, 900 TO meet debts maturing in
une next, taking mortgage on its coal lands
nth the right of redemption reserved for
welve months. The lenders are to operate
he mines and sell the product, paying the
Irie road royalty. The necessities of the
Dad arise from falling of in net receipts,
7hich is attributed to the effect of the pro-
racted railroad war. The management claim
0 have reduced expenses $l,70O.OOO, but in
be meanwhile gross receipts have fallen off
, the extent of 81, 900, 900.
Lynchburg Republican: A farmer Of large
xperience from one of the most extensive
,bacco regions in the State informed us yes
,rday that the prospects for q future crop (
re very gloomy, as the plant beds that
,oaped the cold weather Of April are now
sing devastated by the tobacco fly. The
resent dry weather is very disastrous to the
liant beds, and should it continue the pros
ects for crop this year will be greatly les .
med.
Gunny Pays, Bagging, Etc.
The market for bagging the past week has
lied quiet but steady. We have no large
les to report, which is accounted for by the !
rmress Of holders, who will not make con-
'ssions. We quote: 13c, cash, asked June,
'&c July, 1910 August, and September 1870
10. India bales continue without change, {
1T firm. There are no sales. We quote
orneo 93@13c, cash. Bags are unchanged. I
here are no transactions to note, and the
rotations are as given last week. 12t@12ic. a
u butts the market continues very firm and
9 demand is fair. r
The stocks here are reduced to about IL, 900 +
les; and this fact, coupled with light ar /
yals in prospect for several weeks, stiffens G
Q view of holders. To-dav's figures for par
Is in store are 1902 13-16c, cash and time, y
d 2sc asked for best bagging butts. The =
les for the past week are about 1000 bales :
re and in Boston; the bulk OF them at 200
l3-l6c cash and time. One lot at Boston
Id at 2sc, cash, and one lot here at 2sc, :
ne. The prices asked are 2-16@2bc gold, :,
bond, and 2 7-l6@2ac, duty paid, to ar =
re-; the latter are the terms for bagging =
tts.-M Y. Bulletin, Eth inst. =
Newspaper Postage.
The Postmaster General, on the 10th inst,
ued an order modifying the postal regula-
ns bv striking ont that mart nrovidino thot