The New Orleans bulletin., 1875-12-18
COMMERCIAL MATTERS, Etc.

COMMERCIAL MATTERS, ETC.
In Halifax there is q man who is trying to
decide for himself the best word to use In
place of !" cable telegram" He has oceapo-
gram. thalassay yr N, pontogram, ana halo-
gram, neither of Thich IS pretty, Dus all iour
Of thsm may come into use IN time. omitn, IN
cabling to Jones, can say: Dear 0.-iour
thalassapram in reply to my oct anogram is
reed. Pontoeram to me at once about the !
pic-iron.' Jones, in response, can telegraph:
"Dear S.-When you pontogram your ocean
oprams to nv kilograms, you nad better pay
the charges. Had thought of thalassagram-
ming You as you deserve, but have concluded
to write. =,
stock of United States in England on the
lst inst. compared as follows with last month
and last year:
Dec. /. rs. Nov. l. rs. Dec. l, IA.
tonddn.. Ltssipoo'. 1852 1904 1881
Total. A,872 43O95 52,275
The stocks in Liverpool and London were
reduced by 1923 hog gsheads in Novem Der, and
the stocks in the American seaboard markets
by 6Sl6 hogsheads
Real Estate in New York
The New York Herald discusses the value
and prospects Of real estate as follews
We have had frequent occasion to express
the opinion that matters financial and COM
mercial were still in too unsatisfactory state
to admit Of general and healthy advance IN
the speculative stock market, and we nave
furnished reasons in support OF our theory.
While the wealthy money-lender, over eau
tious, perhaps, contents himself with ioanln8
his money on call at low rates OF interest, or
with letting it lie in bank at no interest," AZ ALL
the small capitalists can not afford 70 pursue
a like course. His money must De put 70
work to earn his daily bread, and an employ
ment be found for it which is at once remu-
neratiye and SAFE The general stock list
fusinp the word in contradistinction to bonds)
is composed for the greater part OF corpora
tions that never have paid, and probably
never will pay, dividend, and OF others still
that DAY by fits and starts, at uncertain Pc
periods and in uncertain sums.
1t is clear that the small capitalists cannot
take the risk Of investing in these with the
assurance of q secure return in the shape OF
interest for his money, any more than he
could in specializing upon margins, and con-
seouentlv he leaves the share-list reigiousy
alone. and seeks the bond market or the
stocks of such corporations as are beyond all
question. Hence we have these facts and re.
suits. There is no surplus money that can
be risked to the chances of speculation, and
speculation is dead accordingly. Investors
among the fancies but leave the whole held
to be cultivated and harvested by professional
operators: hence the stock market is weak,
hating and irrasolute, while the quotations.
for government bonds and the funded debts
of the great corporations show high ana ad-
vancipg figures
Indeed, this latter class Of securities is
almost unattainable at figures which Will re-
turn the legal rate of interest. and this fact
- ita1i in, an.
trely different direction-vlz: investments 10
real property. It is an axiom that after great
commercial crisis real estate is the last security
to fall in value and the last to recover after
the storm has blown over. Experience has
shown this to be true, and there are good and
sufficient reasons for it. Real property, from
its very nature and from the laws which
control it, is difficult of sale and more
difficult of transfer Trammeled by title
deeds mortgages and liens of every descrlp'
ton, it is not convertible into money, but at
the expense OF time and labor. The mer-
chant or the speculator, driven to the wall IN
times of panic must have money at once OF
be swept away by the threatening tide. Con-
sequently everything that is saleAble gees to
market first, and stocks, wares and merchan
disc are pressed for sale for what they VIII
bring. Real estate follows naturally last Of
all and marks the end of the period Of Iqui'
dation.
The rise is equally slow in coming, and car
scarcely be hoped for until general conf
dence has been restored and the country
begun to show unmistakable signs OF i'm
proyement Even then the advance is slug
eish. Money is wanted to foster slowly re
viving business, and must be kept IN tn
shape of money or OF some easily converu
BILE commodity, and it is not until the accre
tions from successful trade or bountiful crop
generally sought for by investors
The decline in real estate during the last
three years will range at from thirty to fort.
per cent on the valuations of that time back
and the long list of foreclosure sales dali.
advertised shows that the process of Iqulda
ton is going rapidly on. It is probable tina
prices have nearly touched bottom, and th'
temptation to invest surplus capital in rea
properties as a safe and remunerative opera
ton is becoming greater every day
Once convinced that things are upon hard
pan, large proportion of the wealth wblc
is now lying idle or being lent out at loy
rates of interest will be definitely fixed, ant
though the loaning price may be enhanced,
WILL nevertheless be harbinger OF NOR
prosperous days to come.
We recommend to those of our readers VIII
are contemplating holiday presents to call q
the store OF Allen Hill, who keeps the mos
reliable silver plated table ware-the heavies
and most durable, made by the Meriden Bri
tannia Company This company are the e1
elusive manufacturers of the porcelain line
ice pitchers. The lining is made of the bes
Russia iron, coated with porcelain, giving th
tull strength Of the best sheet iron with tn
purity of the finest porcelain. These pitch
ers are now conceded to be the best and mos
durable ice pitchers made. Goods msnufac
hu<
ments of pure silver in solidty, beauty {