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

dave arrived at that port with 81 800 pack
ages teas, Of which G539 were for New York
and GG5 for Montreal. Prices were generally
flrmer IN China and Japan at latest advices.
Yokohama reported stock Of 100000 to
Loo GOO pounds III the interior, and Shang-
hal reports that the crop will exceed that oi
last season by about 80, 900 packl ages
The Supreme Court of the United States.
On Monday, reaflirmcd its decision THAT
savings banks ara not exempt from taxation
IT they have capital stock, or DO any other
business than Il 9 receiving of deposits TO be
lent or invested Tor the sole heneiit of the
depo,itors. The court also reatli rlnsd It's de-
cieion that dividends declared in January.
1870. on the earnings of the last six months
of 1863. were subject TO the per cent tax,
under the acts Of 1864 ana 1870.
The Senate of North Carolina yesterday
passed to third reading d bill for the adjust
ment o. the State debt. 1t gives, for the old
debt and registered certificates, forty cents Oh
the dollar, and for the funded internal i'm.
provement bonds twenty-five cents on the
dollar. Construction and special tax bonds
are not included. Interest is to be paid for
the first two years at the rate Of two PER cent:
next three years, three per cent; next five
y, ars, four per cent; next twenty years, five
per cent. Notice was given Of a supplement tai
bill for the funding Of the special tax bonds
The Senate also passed resolution for
change in the time of holding the STATE cleo
ton, SO as to prevent North Carolina from
being the pioneer in this respect.
The Boston Shoe Market.
The Southern trade, upon which some CON
siderable dependence has been placed has
disappointed expectation. The continuance
of political troubles there is discouagirg our
manufacturers, who are shutting down work
aud beginning to think OF fnding another
outlet for their goods.
The weeks shipments Of boots and shoes to
places outside of New Eagiand foot up to
$4,000 cases, aganss 81 81 i'll the previous
week, and against 81, $50 il the correspond
ing week Of last year. The total shipments
since January lst to places outside of New
ngland, irrespective OF those on Boston &C
count made from the factories direct, alnodnt
to III, 40 against AS 7G2 the eighth wee. in
la1. Shoe and Leatier Reporter
The i.ivc,roo CO, on VI rief.
We take the following from the Liverpool
Cotton Circular OF Messrs ". c. Watts <
Co. dated February 18th:
THE PosITIoN, ETC.-- In cur last report 80
remarked that considerable surprise lad re-
Gently been expressed, that in view Of tie
large decrease in the receipts at the American
ports SINCE the middle OF December last, as
compared with same p4riCd Ia. season,
prices hare had not improved more. Ia I'M
deltaking TO account for This. We particularly
referred to the fact that liverpool las so far
this year hal to bear up undo. the burtn4n
OF very large stock. To make this more
apparent We Uojild VOW call attention t. TIC
following facts: 4. this :iUc IA year the
stock here was very LARGO. about loD. 900 bales
larger than at same date in 1873, and the
result was That mildlin; o leans. ~hich. on
the lst January. ls1t, opened at - 4. declined
by the 9TH Mlrc. - si.
The stock here. it will ie observed, is now
145, 600 bales larger tn II ouf large stoc. Of
last year, and yet. IN the face oil this. PRICES
for American cotton lave improved since the |
beginning 81 tAis year ia, II T. IL. III our |
annual review, written at the close OF last |
year, we wrote as follows "Ihcre is a very |
large supply Of cotton now at sea from Amer |
lea for this port say 3lS, 900 bales and it is |
quite certain our imports for the next four or
ak weeks must be heavy and cause rapid |
accumulation OF stock here. The six weeks |
have now passed and from our table it Will be !
seen the total import into this port shows a |
large increase, say 100, 0G0 bales, as compared |
with last year to date. AT the same time our
exports to the Continent have been small,
amounting to only 81, $50 bales against IS, 713 |
same period last year. Bearing in mind that |
prices declined the first two months of last
improved more so far this year? But for the
small receipts at tie American ports and de-
creasing estimates of the crop, it seems Quise
certain we should have had lower instead Of
higher rates.
But SO far as imports are concerned it now
looks to us as if the tide, as compared with |
last year had turned, and that the stock here
next spring is Likely To be considerably less
than heretofore supposed. There are now at
J :
Egypt and Brazii-l3, 900 bales less than ut
this date last year. The stocks in the Ameri-
can ports. il should lie observed which on the
25,h December last wee 1J4 900 bales larger
than the year before at same date, showed an
excess last Friday Of only a 900 bales, and
this was about offset by decreased stocks at
The interior towns. If then there is less cot
ton iemaining on plantations now than there
was one year ago, AMI certainly this seems TO
be the prevailing opinion, it does look as II
the shipments TO Liverpool from this on would
be comparatively light, for all our accounts
agree in representing recent active revival in
The dry goods trade in New York, and that
American spirners now hold an unusually
small stock of cotton for this period of the
year, smaller perhaps than ut this date for
some wears past: they are therefore likely to
be aciiye competitors Tor the remainder Of
this season, particularly for the better grades,
md in evidence OF tins the American markets
Tor Middlng Uplands are now relatively ID to
Ia per Id dearer, including commission for
buying, than this mlrket. This being the
case, OF course very few orders are now being
sent out to America, and consequently the
rade demand will doubtless improve for cot
ON here on the spot, whereas for some weeks
past summers have been receiving so very
argely from ships sides that our spot de-
nand has been at times insufficient to absorb
he cotton pressed Tor sale.
On the other hand it must be borne in mind
hat spinners now hold quite large stock Of
,otton, say about 2l0,00O bales, or some IS
100 more than at this Gate last year, and I'M
ess there should be a revival in trade at Man {
chester they may purchase sparingly Tor some
ime to come. In tlis event the supply on
ale may continue TO exceed the demand, but
We hardly think that at about the present {
- L &C Ill :