The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-03
COMMERCIAL MATTERS, ETC.
The Prospects of Coffee.
New York Bulletin. January rs.

ending the Oath inst. were eighty-two thou
sand four hundred and forty-nine bags, abou
quarter of which were sold during the weel
ending then. The supply has been increased
by several arrivals, including that of tn,
South America, and better assortment ha
thus been afforded buyers, who, owing t,
this fact and the prospects Of the duty being
restored, have purchased in larger quantities
than last week, while in regard to the job
bling trade there has been fair degree OF
activity.
| The position Of the market for invoices a
| the close is steady one, but can hardly bt
| regarded as any more than this, for the reason
that while the sales during the week have re-
duced the supply to only moderate quantity
the large quantity ahoat for this and other
ports, aad considerable of which is now due,
is a matter Of influence which it would be un-
wise to ignore. Mild grades have been gen.
orally quiet, owing to scarcity, though there
has been some business in Jamaica and Sing
apore coffee. Prices have ruled firm for all
kinds. The receipts continue small, and in
most cases, especially as regards Java, have
been previously sold
In regard to crop prospects, London au-
thority states that the highest estimate of the
Ceylon crop is about $4,000 tons, or 90, 600
tons in excess of last season. During this
year, the quantity of Java to be offered at
auction in Holland is fixed at $50, 900 bags, or
an average of only G2, 500 bags per month,
if the Trading Company is not playing a
trick in order to influence the future OF the
market. British East India promises an
average crop. Costa RIGA, Guatamela and We
nezuela have large crops in prospect, it is
stated. Costa RIGA promising 300, 900 piculs,
against 100000 piculs last year, the St Do
mingo crop, it is said, will reach $4,000
tons, Rio is expected to export, between
January / and June 80 this year, nearly
or fully 100000 bags, the larger portion,
as usual, coming to the United States the
Santos crop is put at ], 800 600 bags, but con
siderable Of this goes to the Northern con-
tinental ports. point which should not
be overlooked is the probability that the
crops Of the various countries will be brought
to the consuming markets with greater rapid
ity than formerly owing to the large amount
OF disengaged tonnage, not only in American
but foreign ports, and which is seeking EN-
pioyment Of any sort. Especially is it likely
that an unusual number Of steamers will be
engaged in the trade this year. The number
OF steamers, of Varying capacity, which are at
present unemployed in the ports OF the United
Kingdom is estimated by competent shipping
authorities al fully three hundred; this with
out making any computation of the sailing
craft which are now crowding the ports OF
Europe and the United States. 1t is a matter
beyond question that 1875 promises plenty of
coffee and plenty of vess Is to carry it, both
of which important considerations will be
likely to neutralize the effect of reimposi-
ton OF the duty.
Relief for Freedmen's Bank Dcpositors.
@. baltimore Americana
There is no doubt that nine out of ten of
the many thousands Of depositors in the
Freedmens Bank were Of the opinion that
the Government was responsible for the safety
Of the money. The officers Of the bank en-
couraged this belief, and it was the duty of
the Government Examiners to have disabused
their minds of this fallacy. If these examin-
ers had done their whole duty the swind-
ling would have been stopped before the
whole concern was swamped by the thieves
who had access to it's vaults. 1t has probably
been in bankrupt condition for three or four
years, but no note of alarm was given by the
officers Of the Government, whose duty it was
to have exposed its rottenness.
They allowed the robbers to go on unit
there was no more money to steal, then
closed the doors. If the Government can
not assume the debt, it ought at least to take
active measures to save what it can from the
wreck. The commissio offer to sell to
the Government the banking house in Wash
lngton at fair valuation, and we feel sure
that it's purchase will meet With general ap-
prevail, lenabling them to declare at once
dividend of twenty-five per cent to the de-
oositors. The upper portion of this build
ing is already under rent to the Government,
md it is needed for official service; hence we
nope that prompt action will be taken, afford
ng as it will relief and encouragement to the
Industrious and frugal freedman.
Railroad Meeting in San Francisco.
SAN Francisco, Jan. pa meeting of the |
Chamber of Commerce was held to-day for
he consideration of the project Of petition
o Congress for extending the route of the |
Southern Pacific Railroad to meet the Texas |
Pacific beyond the Colorado river. By in |
7itation Leland Stanford addressed the meet
ng. He said in effect that the road would be |
completed in half the time if the two COM
oanies had the right to construct, and would
give San Francisco the control of the business
# Arizona.
If the road was constructed by California
apital, no advantage would be gained by the
obstruction Of competing lines But there
) an advantage in having the roads of distant
ompanles meet half way. line from the
last to Colorado River would draw much
rade eastward. These views were given
trictly in the interest of California, and
aramount to those OF the Southern Pacific
company. Resolutions were then adopted
hat in consideration Of the fact that
outes by the Isthmus Of Panama and
ape Horn secure permanent COMPETE
on, guaranteeing low rates of freight
etween the Atlantic and the Pacific;
nd believing that, for the interior, competi-
on will be best secured by different railroad
building and owning from the ex-
emes to center, as in the case Of the Central
nd Union Pacific, therefore the President of {
le Chamber be directed to request Senators
i'd Representatives in Congress to favor the &
tension and construction by the Southern {
acitic Company of the line east of Colorado
yer to a junction with the Texas Pacific and 8
tlantic and Pacific roads, upon terms equally t
vorable with such roads, until the junction
made.
The New York journal Of Commerce says t
at of whatever else the business com munitv '
that city can complain, they cannot grum-
g at their inability to command money for L
esent use in their business at and below the
gal rate of interest. Merchants in first t