The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1875-06-26
Finance, Trade, &c,

I
Even Connecticut, with its compact popula-
| ton and Astounding manufacturing interests :,
has not saved its railroad enterprises from
bankruptcy. The report of the Railroad
| Commissioners of the State shows that there
are ten railroads in the State whose stock is
returned MS worthless. The Derby is valued
at one cent on the dollar; Rockville stock is
worth twelve; Danbury and Norwalk forty,
and the Canal and Housatonic about fifty.
Humping the lines, there is q par value of
Sl3,60O,O00, which would not bring in the
market S2,550,0O0. The mileage for 1874
was 6,3S3, 503, an increase over the previous
year of about $1,000, though the receipts we're
only 81, 45l ,225, being $3.50, goo less than in
1878. Operating expenses were reduced over
S560,O0 and the net income suffered n COM
paratively slight dminution. Eight roads
paid S2,54i, 245 in dividends, which was S.
$50 more than nine companies paid in 1873.
There has been very general cutting down
Of expenditure to secure this profit, though
the report fails to show how much Of this saw
ing is permanent The exhibit represents
the roads, as a rule, prosperous and improv-
ing their conditions and accommodations.
Their total cost and the cost Of equipment up
TO September 80, 1874, was $50, f33,245.
The trade returns for Great Rritain for the
month of May show that the slight signs Of
revival in exports in April have been lost.
May is e3,000,000 or II per cent, behind the
corresponding month last year. The total
declared value is els, 225,O 900 Ia cotton aud
linen goods there were fortunately no decline,
although the Oriental markets were supposed
to have been glutted. Iron and iron fabrics
suffer seyerely-in railroad material alone
$4,000 tons behind May, 1874. The British
imports, on the other hand have increased
E4,OOO,OOO, or l3s per cent, on May last year.
The declared total is $50, S46,0 900, coffee, su-
gar and wheat largely increasing The Lon
don Times thus sums up:
The import account must be considered TO
be satisfactory, for, though the value Of the
food products is, perhaps, rather larger than
il should be, it must be remembered thai. In
the case Of cereals especially, we obtain n
good deal more for our money than this time
last year, and as there is practically, on the
whole, no diminution in the arrivals of raw
materials, we may reasonably conclude that
the country can, without loss to itself, pro-
cure the necessary means TO meet its liabili-
ties.
The high credit with which the French
nation emerged from its last disastrous war is
the subject of comment aud wonder with every
civilized people all over the world In 1870
the comparatively new banking house Yam,
keel Off. 5. Morgan & Co. London, became
agents for French loan Of $50, 600, 900 francs,
equal TO S50,O00,0O0, bearing 6 per cent in
terest the issue price being SIS. la March
last a law was passed by France authorizing
the reimbursement of the bonds Of the said
loan on the LIST day Of October next, but with
out awaiting that date, by direction of the
French Minister Of Finance, the holders OF
TINS Morgan loan are now informed that they
may exchange E20 bonds and all unmatured
coupons for certificates Of per cent rente.
bearing interest from LIST of April last, on
condition and in consideration Of such ex.
change the depOsitor to pay a difference of |
l2i francs. Now, in little more than three
and a half years from the negotiation Of these
bonds, holders get par and have received I /
per cent interest from the start. This is Ger.
tainly most creditable to Frnce, and the ne. |
collation. not bad for loan raised BY Yam |
kee firm in the darkest days of the war
question of much Importance to financial |
and commercial men has been started in the /
inquiry, can the trip 10 Europe be shortened? |
This inquiry is answered by New York |
contemporary, who says:--"The time has ar
rived when freight and passenger traffic
should be separated on the ocean, as thew
have long been on the landm A new route I
Is proposed, and attention is directed to the
excellent harbor Of Whitehayeu, at the south.
west corner of Nova Scotia, which, by slight
extension of the present Canadian railway (
'ystem, could be reached within 30 hours
rom New York. A vessel running at an (
average speed Of 81 miles an hour could cross
rom Whitehaven TO Plymouth or Brest in
Our and a half days. The voyage from New
York to Milford Haven, England, wonld re.
luire six days.
Heavy failures in financial circles ar, still
'eported from England.