The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-03-02
COMMERCIAL MATTERS.

ne" orleans insurance Companies lose only
$1,000 by the destruction Of VAIL Brothers
Glue Factory in Chicago, last Monday. Total
loss $500, 900
An effort is being made by the Chicago
Board OF Trade to have the Illinois Lagisla-
lure adopt the Chicago rules for inspection OF
grain throughout the State, claiming it would
inure to the benefit of both shipper, and re-
celvers. The Boards Of Trade of others cities
oppose 1t before the joint committee of the
Legislature appointed 10 hear the arguments
A st. Paul, Minnesota, journal states that
nrln OF that place have just received a car
load OF paper half barrels, the first that have
ever been brought to that flour market.
lhey are OF brown color outside with a
hoop at each end to protect them and save the
heads. They stand about two feet high, and
are about ten inches ia diameter sides
straight without curve. They are to be used
Tor shipping East finer brands of flour, it
Delng demonstrated almost to Il certainty that
they sell more rapidly than in full barrel
quantities.
The Mont Gents tunnel cost about S97, a
yaid' ana, at the same rate, the proposed tun-
mel under the English Channel would cost
about S36, 03G, 600
France produced the enormous quantity of
332, 900, 600 bushels Of wheat in 1873
Cotton culture in the Pacific Islands is Ian
gushing 1t received an impetus during the
Heavy FaiIure in New York.
The grocery trade was a good deal sur |
prlsed to-day at the announcement of the fail |
ure OF Wheatley, Williams * Co., sugar re- |
HnerS, with offices in lower Wall street and
refinery IN Water street, Brooklyn. This firm |
succeeded Finken x Wheatley, the members
OF it being nephews of the late Howell VIII
llams, OF the old firm of Roberts & Williams.
ihey inherited considerable property, and
had in their business it was understood. a
capital Of 100000 to $500, 900.
Their liabilities We could not ascertain on
authority, but by those who should be well in
formed they are estimated at 500 900 to
SboO 0OO. The greater part of the liabilities
is represented by paper given in payment for
raw sugar. The largest single creditor we
hear of holds $50 00O The paper of the firm
was sold within three weeks at Ct per cent.
but for the past two weeks has been pressed {
at 71S per cent The failure caused sur
prise, both because of the supposed strength
OF the firm, the high character of the part q
ners, and their close attention to business | '
The losses which caused their failure We're it I
is said, incurred in their regular business 1t
Will be found, we think that the firm stopped !
when they found that their assets were below |
their Liabilities, and that the failure will not /
be a bad one.-N. I. BHetio, 26h M.
Promis-ory Noies.
The following is an abstrac. Of a late deci-
sion of the Cincinnati Superior Court: 5
Joseph L. Montfort ct al. vs.. Francis Baker /
and Mary DeCamp. Before Judge Tilden | t
lhe suit was on promissory note. There t
was demurrer to the original petit n on the 1
ground that it omitted to aver that the maker, Z
FRANCIS Baker, had removed from the State at b
tue time the note became due. and the ques- c
tlon arose as to the necessity Of an ayerment J
d demand for payment having been made Y
The court remarked that the rule is settled !,
now that where demand has lot been made, s.
md the holder OF the note seeks to excuse G.
himself for not making it. he must state the ii
grounds specially in his declarations aud the
question arising upon the demurrcHis whether v
he circumstances amount to an excuse for e.
lot presenting the note. fl
This involves the law of diligence. The fl
holder of commercial paper takes it on the W
understanding that demand will be made on y
ne principal. and this principle requires of tt
he holder not an impossibility but the exer- tt
Use OF diligence. 1t appears by the averment L
hat Baker had his place Of business on the BIZ
orner of Walnut and Sixth streets; that the til
rotary presented the note there, but, on in bs
uiry, ascertained that the maker h I'd removed Fl
lis place of residence to Louisville, Ky. The th
ecision in IA Ohio determined the question
hat diligence does not require the holder Of
note given by party in one State to follow til
nat party into foreign jurisdiction, and or
here present it. The demurrer would be of
verruled. "a
The Corn Market. q
The Milwaukee journal Of Commerce gives II
tatistics of the yield and price Of corn for pi
le past seven years. he
From this statement it appears that the Il,
uantity produced and average prices of NJ
ecent years are as follows: 20
ear. Bushels Az. Price
'6S. .......-..... 100000, 900. G!c ira
'69. ...,........ $4,000, coo .-.........75o II,
10. ..........- Il ,09t 900 0t0 ,54c fac
III. ...#-....... 99l 10000 -..... 48c IN
~. ........... Lose, 100000 $40 4,
13. ............. 49,, 000,0C0 ..4sc a.,
'f..-... SJi,UOU, CUO ... UJc
This average is made by striking general 81
Terage Of the separate States upon their re- 49,
'ective production. AT the present time-a u =.
ason OF continued monetary depre ssion-the -.
erage price is 50 cents, 10 cents less than in w