The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1876-03-24
CouERCIAL IATTERS, Etc.

COUIERCIAL IATTERS, Etc.
The Supreme Court Of the United States
~on the Goth inst, rendered Judgment, con
CURED in By the full bench. in the "Chlnese
case" holding the Califoi mia statute IMPOSING
tax upon immigrants unconstitutional In
thu ir decision the Judges pass some severe
strjcturss upon the baroarous antl-Chinese
pre judice Of which the atute was an embodi-
met whereby doubtless their Honors will
call down upon themselves the denunciati0n
OF the press of the Pacific Coast. The court
also decided the New York statute imposing
the per capita immigration tax to be uncon-
sstitutional. The ground OF the decision in
all of the cases was that the States had no
power to impose restrictions upon inmigra-
zion.
A comparison of the Clearing house ex-
char ges Of some Of the principal cities with
last year presents the following results for the
week ending March II: New York. $780,
1888, 1926 against $507, 842, 347; st. Louis, $21,
1866, AL against $40, 763, 765; Chicago, $780,
1885, 585 against $50, 074 879 and Philadelphia,
-$43, 1888, 1877 against 1905. 459.
A significant indication of the difference in
the volume of business now being transacted
in New York as compared with 1873 is
afforded in the fact that the clearings in the
week ending March IL were 1896 1888, 425
week in 1873, $458 O72, TAB tor the week end
ing March 4, against $3.50. BOG, 704 in 1873.
Tee total clearings from January to March
ii amount to 81, 3l2. 1903 533 against 81, 49,,
68l SOB in the corresponding period OF 1873
In the corresponding period of 1874, the
.clearings were more nearly Of the same VOL
ume. however. being 81. 46l, 794, us, and in
1876 81, 1913. 070, 1853.
It is noticeable fact that both in Chicago
and st. Lonis the current clearings are larger
than in 1875
Trade Prospects.
New York Bulletin, Goth inst.]
Spring trade possibly is not moving along
quite so briskly as to realize the anticipations
Of persons whose notions Of business recuper-
alton from the various adverse influences of
the past are unhappily more sanguine than
an accurate knowledge Of things would war
rant; but nevertheless it is moving, not spas
modically but steadily. and with . fair promise
OF future increase. Last week there were .
variety OF Temporary drawbacks to contend
with, such as the bank trouble downtown,
and the bad weather. As Q partial Offset to
these, however, we had a marked revival in
the 81 in export movement, which bright
ened things up among the merchants and
shippers at the Produce Exchange, and gave o
healthy Impetus to the various other interests
associated with them. Country merchants
continue to make for the city in considerable
numbers, and almost every day adds to the M
especially from the Western and Southwest
-ern States.
With the MAORI of these the "hand-to-
mouth poiIcy"-that is, eurcha ing only to m eet
positive requirements still adhere to; but
as that is q safe and conservative princl pie,
and one which is the recognized pioneer OF a
healthier aud larger trade, when credit and
confidence are, as in due time they must be,
fully restored, we do not know that, rightly
interpreted, there is any good reason to quar-
rel with it. Probably but few merchants in
any line Of husinessare at this moment making
great deal of money, for this is the era OF
small profits; but as we seem to have pretty
much got through with bankruptcies and sus-
pensions and other dead weight of that kind,
it looks as il the pathway ahead afforded q
reasonable promise of return to more expan-
psive results for trading enterprises, and COM
1msrcial ventures Of all kinds, than are now
pos ,ible.
The return, however, is not going to be as
speedy as sone expect We can only reach
our objective point by slow stages, and it is
those slow stages that are so hard for natu-
rally go-aseid people to bear. The opportu-
nifty for further exercise OF patience, clearly,
lis not going to'slip away all Of . sudden; but
the time is assuredly coming whea the croak-
FRS and the dismal men cannot, as now, have
!. nings so much their ownsway.
At the various trade centers throughout the
West and Southwest the prevailing feeling as
regards spring and summer business may be
described as hopeful, rather than as satisfied
with the volume Of business actually transact
ing. At Chicago there is some talk about
Eastern capital flowing in that direction in
large amounts, to be Invested in building en-
terprise-, out the talk is in SO general way
that it is difficult to say precisely what it
practically amounts to.
Liverpool Cotton Report.
! From NJ ssrs. Watts a. Co.'s Weekly Circu.
lar, dated Liverpool. MArch 8, We take the
folio wing:
That the darkest hour is just before the
dawn, and that "the lowest point in prices
is coincident with the period of greatest de-
preston" are generally accepted as pro-
verbal truths. Two days ago no one seemed
to be able to discover single ray of hope tor
cotton. Bnt two days have brought about
wonderful Oh .nge, and, as we write, the gen.
'eral tone OF the market is decidedly cheer
ful one. Why this change? 10 the first
place the receipts at the American ports have
SO far this week been smaller than expected,
and private kilograms from New Orleans. re-
rapid falling off from this on at that port.
There nov appears to be less financial de-
preston here han previously supposed. The
March deliveries, instead Of being resold on
this market at q sacrifice, are in very many
cases being taken up and laid away for higher
prices This feature of the market has
evidently surprised "short Sellers" who
are buyers to-day at an i'd to 3.l6d
over prices current LIST instant. Atten-
ton Is also being more and more d.
rooted toward Bombay, where the receipts
continue surprisingly small, having amounted
this week to only $4,000 bales, against 81, 900
this week last year. One prominent cause of
the depression here has been the rapid accu-
mutation of our stock. which is now 176, $50
bales larger than it was one year ago; but on
the other hand it is now observed that there