The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-12
COMMERCIAL MATTERS. m

COMMERCIAL MATTERS. H
The expectation of alcohol from the United
States to Europe, which amounted to abou
fOrty-two thousand barrels in the year 1873
has now dwindled down almost to nothing
and the domestic trade is correspondingly
depressed, as q consequence of an inadequate
demand to meet the increased production
The dstillers attribute this change in the
condition of things to comparatively re
cent construction of the law under which alco
hol had previously been exported.
The Pittsburg Commercials annual trade
statement shows that 533 9l8 tons of iron
blooms and ore were handled in that city il
1874; 1,247, 64l barrels of refined oil were
shipped, an increase of 81 ITO per cent in the
coal and coke trade, the receipts Of which
were 1913, 868, 068 bushels, and shipments, 124,
948, 78O bushels. The increase of railway
freight business is also large, 7,2S5, 1926 ton.
having been received and 5 579, S17 tons ship.
ped, while the production Of its manufactures
and the increase Of it's general trade makes a
very satisfac Tory exhibit for a city which has
80 often complained Of depression the past
year.
Our Chicago contemporaries complain that
it has become painfully apparent that, under
the present system, member Of the Chicago
Board may cause others to deposit great
deal of money as margins, without putting
up cent himself, and the question is how to
obvate this, and at the same time avoid the
evils of the old system, which enabled one
member to fight others with their own money.
The matter will probably be arranged by re-
quiring that all such money shall be deposited
in certified checks, with the Treasurer of the
board, but under what restrictions may be
only developed after a season Of discussion
The General Freight Agents of the railroads
interested in the Saratoga combination are to
meet in Chicago next week, to come to some
definite agreement as to rates. 1t is expected
that an attempt will be made to raise the
tariff eastward on grain from Chicago from
324 to 40 cents. Commercial men say that
this measure will not help the roads, as the
prices of grain for shipment here are so low
that it will not pay to send it on for specula-
tive purposes.
The ice harvest this season has been abun-
dant, and of very superior quality it is
said. 1t is nearly all housed The COM
and a half Of clear ice and has greatly facil-
tated the work of harvesting The amount
that has been housed near Troy, with the
iNaount carried over last year, makes the
total stock in that vicinity about 60, 900 TONS
In addition to the crop gathered from the
river, there has been a large quantity gathered
from the lakes and ponds, which lie back a
distance in the country. At Round Lake an
immense quantity has been stored, while in
the immediate vicinity of Troy 5000 to 10000
tons are housed. The estimated cost of
gathering the crop is from 20 to 80 cents per
ton, which is lower figure than it has cost
for many years past. The crop below Albany
is plentiful, but it is said that the cost will be
higher than it was last year. owing to the
strike among the gatherers. ". Y. Chronicle.
8h inst.
Government Stamps Bank Paper.
In obedience to the recent instructions is
sued by the Commissioner of Internal Reve-
nue., Hon. John w. Douglass, an inspector of
the department has been interviewing the
Buffalo banks for the purpose of ascertaining
from them hsw far they had conscientiously
conformed to the law requiring two cent
stamps on checks. orders for money, and sight
drafts on banks, bankers and trust companies,
the only commercial paper subject to such
duty in schedule B. Although some negli-
gence or informally was discovered in some
institutions, it is said the record generally
was found good.
In one or two instances where the papers
were without stamps, the inspector took pos
session Of them and receipted for them. In
several cases, obviously where the banks had
run out of the regulation stamps, proprietary
stamps had been substituted in order that
the government should be sure Of its revenue
in some form or another. In other instances |
the stamps were found uncancelled or only |
cancelled, and in all these cases
the law was held to be violated The resent
amendment of the law provides that any bank
check, draft, order or voucher for the payment
of any sum whatever, drawn upon any bank,
banker, or trust company, shall be liable to
two cents duty, SO that the receipt can no
longer be substituted to advantage
The law requires that the stamp shall be
by writing upon it the initials of
the person drawing the check and the date.
The use of the ribbon stamp is not regarded
as effective in cancellation, but the stamp may
be punctured or driven into the paper. The
penalty for not stamping any of the papers
referred to is heavy. The drawer is respon-
sible to the tune of fifty dollars, the party
who presents the check or other bank paper
is liable in the same amount, and the banks
obligation to the law is the same. The same
parties are liable to an equal penalty for non
cancellation or imperfect cancellation OF
stamp.
Gold.
IN. Y. Bulletin, 9Th inst.l
The bank statement of Saturday last
showed a further reduction of ever So DOC, 900
n the amount of specie on hand, making
oss, since the 18th of January, of $500, 900.
The present amount of coin and coin certif-
,ates in the hands of the Associated Banks is
SIS, 062 900; how this compares with the sum
Usually held at this season of the year will
Ippear from the following statement of the
mounts reported by the Clearing House at
he end of the first week of February for the
even last years
first week of February, 1875 . sl5,1oO,OOO
1S74....... $4,000
1S73....... 100000
1872. ...... 2l,2OC 900
1S71........ q 800, 600 !
1870. ....... 25,700 600
1869. ...... 3S,100,000 (
The amount in the banks, at this date for '
he years 1869 to 1874 inclusive, averages ]
26, 400, 900; SO thst the banks now hold less
han sixty per cent. of the sum annually on