The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1877-10-05
TRADE AND INDUSTRY.


THE great railway wharf at st. John,
N. B., is being rapidly constructed at a
contract cost of 81 TIA, 900.
A NEW line of steamships will be
placed upon the route between New York
and Venezuela, South America, early next
month.
ALTHOUGH Russia is only in the sixth
month of the war, her paper currency has
been swelled to $640, 0O0, 900, a sum only
within $40, 900, 600 of the legal tenders in
circulation in the United States in 1865,
after conflict which had lasted four
years.
Our annual production of butter in
the United States is rated at $780, OO,-
600. That of cheese is $50, 600, 900.
The cotton produced in the country is
sc. OOO, 900 less than that of butter alone.
In France the butter production Of 1876
was SIS, 660,000
ENGLAND and France are disagreeably
surprised at new tariff which has sud-
denly been issued at Madrid, whereby
imports from those countries are subject
to duties from Is to 80 per cent. higher
than those levied upon similar goods
from Germany, Belgium, and elsewhere.
New ORLEANS proposes new and
shorter cut to the ocean by ship canal
cut through to Barataria bay-an estu-
airy of the sea that penetrates far into
the land on the south coast of Louisiana.
The distance from New Orleans to the
Gulf of Mexico by this route would be
only fifty-eight miles, and the cost Of
digging the canal about So, 100000
THE receipts of butter in the chief
Irish markets have steadily increased Of
late years, Mt least one-third being des-
tined for foreign consumption. The
principal foreign trade is with Brazil,
Portugal, the West Indies and the Med
iterranean, while large shipments are
also made to Melbourne. The great
Irish foreign trade in butter is now with
Brazil.
The business of exporting cattle and
beef to Europe, which grew to large
proportions this season, has been on the
whole losing enterprise, according to
the testimony of the large New York
firm of Samuels Bros, who made the
first shipments of live cattle, and failed
the other day. The first shipments
were on a small scale, and, proving fair
ly profitable, the firm engaged several
steamers for this trade. Very frequent
ly they had to sell on the other side at
loss, and at other times, although fair
price was realized on each animal, the
consignment as whole was unprofta-
BILE, owing to deaths on the voyage.
ENCOURAGING reports of the condition
of trade come to us from nearly every
| 81 x<n,. ba
streets of New York are blocked by the
accumulation of goods to be moved
through that most incommodious city.
Business at st. Paul is described as
Every heavy" AtLouisvilleitis crush
ing" st. Louis is beehive" Pitts
burgh finds it's trade in a better condi-
ton than for years. The Montreal, Bos-
ton, Philadelphia Cleveland, Cincinnati,
and Southern and Southwestern papers
all give the same report, varied only in
words.
In consequence of the recent visit of
members of the syndicate to Washing
ton, some new information about the
progress of the 4 per cent. loan has
gained publicity. The subscriptions
abroad have, in consequence Of the war,
been less than was expected. The sales
abroad have been offset by the return of
called bonds, SO that of the $40, 900, 600
subscribed for abroad not one dollar has
been paid for in gold. OF the &c.
600, 900 of the per cents sold, $15,-
600, 600 are for resumption, at the rate of
$5,OOO,0 600 each for July, August and
September.
The following banks and bankers have
failed i'll Chicago during the last four
years Second National, Fourth Nation
al, Mechanics National, Cook County
National, City National, Scandinavian
National, Manufacturers National,
Franklin, Bank of Chicago, CONNER
cial Loan and Trust Company, Marine
Company, s. r. Shipherd & Co., the
Twenty second Street Savings Bank,
State Street Savings, Citizens, Farm
ers', City Savings, Cook County Say
lngs, Security Savings, A. G. 81 o. F.
Badger, Barclay, Voorhees, & Co., Mer-
rill, Ladd 4 Co., Show Petersen, Isberg
d Co., State Savings, Merchants, Farm
ers' and Mechanics Savings, Emil Josa-
phat, andthe Fidelity Savings.