The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-10-30

Fa1ton, which cleared yes.eLosy ny III rom VI
= rtsnnNone of the largest cargoes cleared from
this port for long time.
While the railroads east Of Chicago have largely
fallen off this season, as regards the volume OF
their carrying trade, very lively business Pc
inc done on the lakes. A report from Buffalo,
os aGyer one hundred vessels are in the harbor
Receipts for twenty-four hours, over two and
hslf million bushels grain, ten thousand barrels
flour, about one aud half million feet lumber,
besides heavy receipts OF other Produots IN ag-
Der Of other vessels are reported, and constant
arrivals are being added to the above"
Northern writer's often express their surprise
that more attention 10 not paid at the South to
the manufacturing Of the great staple OF this SEC
ton. In the older States OF the south, In large
come worn out and unproduct,vs, and numbers
Of persons have had TO abandon Agricultural pur-
suits, the number OF cotton factories have largely
increased, and handsome dividends have been
realized Notably has this been thu fact in
Georgia and Alabama, where in some cases from
twenty .four to twenty-sevsn per cent have peen
realized on such Investments. But in Louisiana
Mississippi, Texas and Arkansas, where soe so,
ID more productive cotton factories are rev ane
far between. In New Orleans there have oeen.
in years gone by, two experiments made IN the
manufacturing or the staple, but both came 70
grief. Within few months there has peen
mill established here. which, We are gao nv, 70
learn, bids fair to prove prof able venture: Inc
Columbia ReGister makes the following pertinent
remarks on this subject .
'sIf iron mills are always placed ss near % pos.
sible TO iron mines, why should cotton 1acsories
be thousand miles away from cotton heldsf
And yet this /, precisely what has been done 10
America, That port on of the cotton crop which
IL not taken up by foreign markets 10 sent 10 new
England to be manufactured. Ihere are many
reasons, unnecessary TO name, why this awkward
way OF doing business has been continued until
now, but no reason why II should continue any
longer. The cotton producing States may Just Is
well have the two profits as the one--the pront
derived from the production Of the raw mat RAJ,
and the profit derived from converting II INTO
saleable articles"
The stock Speculation.
The uncertain condition of the stock market Ii
explained by the New York World on the supPo-
sition that the vigorous bear movement OF the
last week was engineered TO extricate bear
speculation that was begun several weeks ago.
and at mnoh lower prices. 1t says there has been
great distribution Of long stock, and that sew.
eral OF the late prominent bulls have now got
clear. The first bull to sell ous, presumably Al
Olson Cammack, now avows himself bear. The
New York Tribune predicts the speedy end OF the
bull movement II declares that sit has been
preordained from the beginu OF the late won
derful rise In stocks that the first serious defec-
ton from the bull ranks would end the cam
paign. And although the market for some time
To come Ia likely to be subject to frequent and
sharp rallies, the hour 10 fast approaching when
real values will command moro attention than
the capital of few infatuated individuals
The Financial situation in New York.
The legal tender re so urces Of the New York
banks decline slowly. From september 30 to
October al, 1876 the loss was So COO 000 but from
September 20 to Ootober 20, 1877. the lose was
only a., OGO, 900. The loans are but $23s 1873 800
against $27O 900 in 1879, and 1881 S73, 700 in
1874. The deposits are $l95 ,56l 500, against
in daaln no n ri
Notwithstanding the light drmsnd lately, the
legal tender are but $39 949 800, against
$46 $50 in 1876, $54, 702 800 in 1873. and sos
830,800 In 1874, decline between 1874 and lS7!
Of SO per cent. During the past year the amount
loaned by the national banks on call has been
reduced nearly $12 000, 600, but large proportion
Of the loans Tor vock operations that have been
hitherto made on Gail have been made this year
on time, and many Of them run until the end OF
the year. The amount due by the Now York na.
tional banks to other banks is now SIS ,0O0, 600.
Increase i'm the Number of Failures ut
the south.
According to the latest reports there are indl-
cations Of slight improvement in business 81.
fairs regards failures during tho third quarter
quarter Of last year the number OF failures de.
s,lines 6i3 or nearly Is per cent, and the amount
of liabilities of firms failing declines So gil ,2S6
or nearly II per cent. The New YORK tribune
Of the Goth inst, TINS sueahs OF Southern mer
camille interests in this connection:
II il remarkable fact that comparing three
quarters of 1877 win three. quarters OF 1875, .
decrease appears in the number OF failures 10
everv one OF the former slsveholding States
without exception. The surprising improvement
IN the condition of the Sou b could not be more
clearly shown. Not only In the states recently
miseoverned, but in all the States which, IRON
similarity OF former industrial
appears. Moreover, Maryland is the only one o
these States in which any considerable 1ncreas
appears in the amount OF liabilities OF hrms lail
ing; excepting in that State, and In 81: Loule
there is an almost universal decrease in losses b
commercial disaster in the region formeri
known IS '.the South" This evidence OF th
wisdom Of d liberal policy toward that sectio
Che merchants and manufacturers Of Norther
cities. understand how largely their own pro-
perity and the welfare Of Northern industry d.
pend upon the prosperity of the outh.
IT Ia the Largest Grain Crop Ever Pro
duced in this Country.
IN. Y. SUM-
The grain crop Of the Uni ed ststes this a.
wear In the history of the country. 1t amour
In the two principal ce. sala- wheat and corn
325 900 900 bushels Of the former and $50 00O "
Of the latter, according to the careful estimat'
Of Mr. Walker the statstiS1 ha , OF the re
be felt, as up to the past eight weeks Z
expectations were Of last years crop; but q
sudden increase already noted gives good pror
Use Of golden future. During the brlei PERI peri.
mentioned our exports Of wheat from the POI
Of New York, Montreal, Boston, PHILADELPHIA
Baltimore, New Orleans and Portlsnd have
gregated i1,525 1873 bushels, against an export
ton from the same ports during correspondll
ing an increase Of 1856, 237 bushels. There b
also been an increase Of 7Os 234 bushels in Il
expectation of rye during the same time, and
peas an increase OF 81, 400 bushels. In co
there has been u falling of to the extent
1858, 1854 in that fme.
re arrive at the amount Of corn sent abroad
is proper to count in that which goes in the cor
pressed form Of pork. Our annual hog Produ
expectation is about T. 00 900 hogs. A. 1t tax
about fourteen bushels Of corn to fstten ea
hoo that will ha enuiYalant To ahnut 66. QOO o