The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-14
COMIERCIAL MATTERS.

u
them at pretty much their own figure
Four more dissatisfied insurance companies
Withdrew on Monday from the New York
Board Of Underwriters. They were the
American Exchange, New York Equitable,
the New York and Yonkers, and the City
Company. The question of rates has been
the cause of nearly all the agitation, the com.
panies doing local business being ar1ayed
against those engaged in underwriting in the
other cities in the Union. The outside COM
panies desire the maintenance of the popular
schedule of rates in New York, on the ground
that reduction there would compel q lowers
ing of rates all through the country. The
local companies assert that local rates should
be reduced to local insurers.
Homo and Foreign Crop Prospects.
IN. Y. Bulletin. 10th inst
The latest accounts seem to confirm the
more conservative view of the damage to the
crops by winter killing and the cold and
backward spring, with little to add to former
reports of the condition of those of the
Atlantic States. There are, however, later
dispatches from California and Europe of
different character from those previously re-
ceived. The drouth on the Pacific Coast
has been succeeded by timely rains, which
improves the prospects of good CROP ad-
vices by telegraph. private and otherwise
agreeing on 100000 tons IS an estimate Of
the surplus of California for export. This
would seem to be considered fair crop,
although it will be remembered the estimated
surplus of last year, OF the lowest figure, was
6OO,0 tons.
As to the situation in Europe, cable dis
patches state that owing to cold and dry
weather the crops on the Continent are in
the same backward state as in the Western
and Northwestern States. In France wheat
is said to have suffered already to consider
able extent, and rye quite seriously, while
in some districts in Russia snow still inter-
feres with sowing. YET in the face of these
statements, the European markets, we notice,
are dull and dropping, fact which does not
indicate any apprehension Of serious damage.
Probably the chief effect of the backward
season and cold weather, both in Europe and
the United States, will be to delay the har-
vest some little time beyond the usual season.
and this at q later period may have some
effect upon the market. As to the prospects
of the corn crop in Europe, it is tolerably
certain that it will be late, whatever the yield
may be. In this country there are indica-
tions that the same will be true of the North
western States; but in the Southern States,
where it is said there will be largely in
creased acreage planted, it will probably be
matured as early as usual.
There will probably be much larger total
acreage of corn this year in this country, if
not in Europe also, than for number of sea-
sons. First, the South, determined on rails
ing great variety of crops. will plant it is
claimed, enough to supply itself and raise its
bacon, both staples having been SO high with
cotton SO low the past year that planters have
been impoverished rather than enriched by
the exchange for these necessities. Second,
the high prices of and large profit on corn
and hogs the past season, with continuance
of encouraging prospects for the coming year,
will naturally tend to an increased acreage in
all corn growing countries supporting IS we'll
rs exporting. Third, the winter killing Of
much of the central and northern sections of
the Western winter wheat States, requiring
the blowing up of the wheat fields, will in
duce the planting of corn in much of the
usual wheat acreage of those sections.
Thus it would appear that SO far as judy
ment can be formed thus carly, with the best
obtainable information before us, the worlds
supply of corn promises to be materially in
creased the coming harvest, while the yield OF
winter wheat bids fair to show more or less
marked decrease, with an average crop of
spring wheat.
As to the prospect of the spring wheat crop,
which is now attracting great interest, the
St. Paul Pioneer Press, Of Minnesota, the
chief spring wheat State, says:
While we do not believe that the dam age
hitherto sustained to the winter wheat crop
has been really as great as claimed, yet the
destruction by cold and frost has been i'm
mense, no doubt The condition Of the spring
wheat crop is just now matter of intense in
terest. Seeding by spring wheat growers has
been going on for several weeks and is now |
nearly finished; and yet the weather is un- |
propitious for termination. But the splendid |
wheat soils of Minnesota have never yet |
known such things as rot or failure to quicken. |
Even wheat.sown on the snow,in February has |
been kn own to produce good crop in August; |
but late sowings, like those of this year, have |
uniformly returned the largest increase. If
the Rrasshoppers do not eat up the new ver- |
dure, as it is now pretty sure they will not. |
and if the heavens do not utterly refuse to |
send down their early and late rains, the |
present late season will be God-send to the
farmers, and not q disaster, as seems to be
the popular idea.
Bull Movement in Bourbop Whisky.
[St. Louis Times, 18th in.t.l
The Secretary of the Treasury, Mr.. Bris-
tow, has opened q pretty sharp campaign
against the distillers in many of the principal
Western cities, number of seizures OF distil-
leries having already occurred here, and
others are reported in Cincinnati, Chicago and
Indianapolis. If it be true that the distillers
and rectifers whose places of business have
been closed have been operating in violation
OF the revenue laws, puOnc opinion DE-
mands that they should be dealt with
promptly and as severely as the laws will per-
NIT.
Il is known that some sales of liquors have
occurred in Eastern markets at prices below
the cost reproduction, and it is doubtless true
that violations Of the Internal Revenue laws
occur in the liquor trade, but it is
not by any means certain that fraud exists to
the extent that the recent wholesale seizures
would indicate. Be this as it may, the pro-
cedure of the Secretary is strong bull move
ment in Bourbon whisky, and the fact that
the Secretary of the Treasury and the Assist