The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-04-22
1867 to 1874, inclusive;


1OvCm00Ss
We have been frequently applied to for our
estimate Of the amount OF cotton carried
overland this year direct to the mills, and
have always replied that we have not suft-
Gent returns to base an intelligent opinion
upon. The problem is more complicated this
season than ever before-that is to say, any
estimate based upon partisl returns Is less
likely to be correct, for the reason that new
railroad connections have been made this
year for the purpose of carrying cotton,
which roads have heretofore forwarded little
or none. This consequently extends the IN
auiry, and, unless We can have returns from
ali. there is no safety in an estimate. In our
remarks, however, We have eq 1t ntly pat the
figures for overland and Southern consump-
ton at $50, COO, or about the same aslast year
Our reasons for doing this were: i. The
gross receipts at St. Louis show an increase =
I23, 1893 bales, April H. this year, ag linst 1888
bales same time last year-and Cincinnati is
about the same, and one other road we have
returns from also gives slight increase.
Now. We do not consider this at all conclu-
goes. movement at least equal to last year
3. All the evidence we have received from
our Northern spinners is that their receipts
bv rail direct this year are in excess OF year
ago; all We have heard from are very posinve
on this point, and yet, Of course, until the
full returns are in, there is q chance for error.
n y. Commercial Chronicle, 17th inst
Tho Money Market and Financial Situation.
A general glance at the transactions OF the
week in our financial markets shows ten
dency towards easier rates for money. deci-
dedly active and buoyant market for gov
ernments, a sharp demand and advancing
prices on some Of the leading issues Of rail-
road bonds, steadiness in stocks, and dull
business but firm prices in gold and exchange
There appears to be q return movement
of currency towards this center, and an IN
creasipg disposition here to look upon the
money market as now likely to be easy for
some time to come. Money on call has been
easy, with the exception of spasmodic ad-
vance to per cent on Monday, aud to stock
borrowers 3(G5 per cent has been the ordinary
range of Quotations, while leading govern
ment bond dealers have been supplied at 2@J
per cent. For frst-class commercial paper there
il an improving demand at S! to 81 per cent
for prime grades-banks being now among
the leading purchasers.
On Thursday the cable advices from Lon
don reported gain of 949, 600 for the week
in the bullion Of the Bank Of England. the
minimum discount rate remaining uncnangeo
at 81 per cent the Bank of France lost ., 726,
GOO francs in specie.
The last weekly statement of the New York
City Clearing House Banks. issued April ~
showed an increase Of So, 1877, 700 in the excess
above their 25 per cent legal reserve, IN
whole of such excess being ST, 975. aga'ns
S.. 1888. 275 the previous weekly I. Findn
cial Chronicle 18th inst.
The Inv Of the Tides.
The reports of the coast survey snow ina
the tides of the United States are divlslDl'
into three distinct classes. Those on tn
Atlantic coast are Of the ordinary type, eoo
lug and flowing twice in tventy-fOur hours
and having but moderate differences in helgh
between two successive high or low waters
one occurring before aud the other after noon
Those on the Pacific coast also ebb and hoV
twice in "a hours, but the morning and tn
evening tides vary considerably in height
The intervals, also, between successive hIgf
and low waters, may be very unequal. Iht
irregularities are due to the moons declina
ton, as when the moon travels to the nortl
of the equator, the vertex of the tide wav'
follows her, giving the higest point Of on
tide in the northern, and the highest point o
the opposite tide in the southern hemisphere
Hence, when the moon is in the northern de
cliuation. the tide at any place in the north
ern hemisphere caused by her upper transi
will be higher than that caused BY her lowe
transit
The New Finance Law.
Washington dispatch says that the higl
price Of gold has not interfered with the ex
ecution Of the finance law of the last session
which has operated thus far as efficiently AMI
rapidly as was ever expected. The provision
of the act relating to the currency have pro
duced contraction Of the money in circula
icn. amounting in round numbers to abou
s3,OOO,OOO by the voluntary surrender OF ma
tionai currency in excess Of the amount caile'
for under the free banking section Of the Law
It il therefore mapifestlv absurd 10 attrlbut
any part Of the increased premium on gold I