The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-10-19
COMMERCIAL MATTERS, Etc.

COMMERCIAL MATTERS, Etc.
The Robertson, Simpson county, Ky,
farmers have all their tobacco housed, and
no injury to it was done by the early frosts.
The St Louis Fair is said to be an immense
success On the 7th not less than 10000
people were present at one time. The local
papers talk of $4,000. The gate receipts were
little over S32, 900. The display of agricul-
tural implements is claimed the finest, proba-
bly,, ever witness in the Mississippi Valley
The live stock show, with the exception
of horned cattle, is also fret class. Horses
hogs and sheep are almost innumerable, and
included bIo1ded stock from as far East as
Michigan and Ontario
The quarterly statement of the New York
national banks shows that from June 80 to
October l, 1875, private deposits have dimin-
ished by $40, 100000 in round numbers, bank
deposits by S. 600, 000 and the stock OF legal
tenders by 81, 900, QUO. Circulation has dimin-
ished by $780, 900.
test case was recently decided by the
United States Circuit Court Of Richmond,
Va, involving the enforcement of the stamp
tax laws. The judge ruled that the defen-
dant in emitting to stamp q bank check,
must be shown to have intended to defraud
the Government of its revenue, and, in de-
fault of such evidence, the case went against
the UOVoIuu9uI OtQof similar cases on the
docket were thereupon dismissed.
Strange Surprise to the Sugar Trade.
IN. Y. Bulletin, 18th inst.l
The sugar trade of this city is profoundly
surprised by Treasury order promulgated
on the 18th inst. The order declares that,
from its date, the draw back on refined sugars
exported to foreign countries shall be reduced
from So rs p 100 ID to SO 81; this reduction,
however, to be only provisional, and should
the final rate of drawback vary from the pro-
visional one, the exporter to be subject to re-
clamation or compensation as the case may be.
To understand the importance of this order,
it must be explained that the export of refined
sugar has recently become trade of very con-
siderable magnitude. Under the law relating
to drawback on exported sugars 10 f9 cent Of
the drawback was retained by the government
as supposed compensation for the expenses
of collecting the import duties, ETC.. !; but, upon
representations that this allowance was exoes-
sive, the proportion to be thus retained by the
Treasury was changed from 10 79 cent TO ~
cent by the act of March 3, 1875. This change
increased the net drawback about 81 cents ~
100 pounds and at once placed our refirers
IN position for largely increasing their export
business.
Our exporters have thus enjoyed under the
act of last March an advantage Of one-third of
q cent per pound over the British refners, as
compared with their previous position, and
the effect will partially APPEAR in the follow
ing statement of the export of refined sugars
from the United States almost entirely
through this port) from April 1st to August
3lst, as compared with the same months of
last year:
April, May and June, H.. 16,9S742 3464, 1861
July. .:.................. 3,669,5O1 222,s5S
August. 3,674,405 9s5,7O9
Total months, ID. 80. 24331 1888 4673, 52S
Thus, it will be seen we have exported a.
300, 900 pounds during the five months end
ing with August, or over five times the guam.
thy shipped during the like months year
previous and with every prospect that the
trade will continue to largely increase, so as
to give us most important position in the
sugar trade of Great Britain. Ia the midst of
this gratifying development of comparative
~ new branch of trade, an order comes from |
Washington which in effect calls for an advance |
in the export sugars OF over cent per pound,
applying to all sugars on shipboard for ex-
port and to large quantities under contract to
be shipped during coming weeks. Not the
faintest whisper that such change was con-
templated or determined upon had reached |
the ears of those engaged in the business |
until the order was promulgated. The whole
trade is therefore taken by surprise; business
is brought to standstill ana exporters are
threatened with heavy losses on contracts
made but not yet executed.
Regulations for Loa ing British Ships.
The following extract from the British
Merchants Shipping Act of 1875, known as
the Plimsall Act of last session of Parliament,
has been posted on the bulletin of the New
York Produce Exchange:
Sec. 8. From and af,er the 1st day of Octo-
Der, 1875, no cargo of which more than one
third consists OF any kind of grain, rice,
paddy, pulse, seeds, nuts or nut kernels shall
be carried on board any British ship, unless
such grain, corn, rice, paddy, seeds, nuts or
nut kernels be containedin bags, sacks or bar
rels, or secured from shifting by boards,
bulkheads or otherwise.
This section shall not apply to any grain
shipped previous to the 1st of October, 1875.
The master Of any British ship who shall
knowingly allow any cargo or part Of cargo
to be shipped therein tor carriage contrary to
the provisions of this section shall, for every
such offense, incur penalty not exceeding
s2OO.
How the Increase of Tho Tax on whisky, To-
bacco and Cigars Works
A Washingion writer says:
Sufficient time has passed since the passage
of the act increasing the tax on whisky, to.
bacco, cigars, etc, to enable the officers OF
the government to form an estimate of the
value of the act as means of increasing the
revenues, or, in the language of its title,
"To provide for the exigencies of the gov
eminent" The official figures will disap-
point those who advocated the increased
taxes as sure means Of extricating the Treas
ury from its embarrassments, for the amount
realized will not reach half the sum estimated
when the bill was before the Ways and Means
Committee The act was approved and went
into effect March 8, 1875. and increased the
tax on whisky twenty cents q gallon, and
moda a considerable iucreaSa on tObaccO |