The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1877-10-09
Money in New York.

GLIDING equipment, and return net profit OF
80 1888 per cent
Money in New York.
In it's financial article the Herald says that
shrewd capitalists still anticipate pinch be-
fore the year is over, through the drift of
has been no difficulty in procuring all neces-
sary accommodation. The Times states that
few OF the banks called in some Of their
loans made to Stock Exchange borrowers, but
capital through sales of borrowed sterling, q
transaction which was facilitated by the in
creased disposition of the bankers to draw
considerable amounts of sterling in anticipa-
ton Of lower rates next month, when cotton
is expected to come forward freely. The banks
are adopting O very conservative policy, and
| unless the drain upon their resources Is much
greater than expected the money market is
not likely to be materially disturbed, unless
artificial means are employed to create strin-
gency.
The Tribune editorially declares the signs
Of the loan market less unfavorable than
they have been for many weeks, and believes
that, II caution enough is exercised to get
through the month OF October without trou-
BILE, the evident improvement in business may
not only continue, but Increase.
Increase in the Public Debt.
An effort was made few days ago,
through the Associated Press kilograms, to
explain why the 500, 900, 900 of 4 per cent bonds
| already paid for redemption purposes were
not included in the last public debt state
ment. The sum and substance of this expla-
nation was that the per cents which they
were to redeem had not yet been taken up,
and that therefore 1t would have shown an
incaease In the public debt to have put. the 4
per cents In before the per cents were taken
out. This explanation has been repeated since
in special kilograms to Republican papers,
but none of them seem to see how utterly
ridiculous 1t is. The fact is that the increase
of the public debt which the insertion OF these
bonds in the last statement would have
tinue to exist until the called $40 bonds are
| taken up, which can only be at the end OF
| ninety days after notice was given. Of course
the cash assets Of the government have been
| increased by the amount OF gold in the treas
ury vaults, and the government 10 In that re-
| spect no poorer only that it Is paying double
| interest, and has for the moment q fund OF
money for which it has no use. The fact is
| unmistakable that the 4 per cents have been
delivered, and none of the per cents which
they are to redeem have been returned, so
! that no matter how much the coin in the
| treasury is increased, the public debt Is actu-
ally greater, so long as this condition of affairs
lasts.-St. Louis Republican.
Summer Pork Packing.
[Cinciunati Price Current. Oct. Al
| There Is no feature of unusual interest in
| the progress Of summer pork packing. The
warm weather evidentally retards the move.
ment of hogs to market at points south OF
Chicago, and although there Is more induce
| ment In the relative prices of hogs and the
product for packers to operate, it does not ap-
pear that they are able or disposed to take
hold freely. The number Of hogs packed at
all points during the week is about the same
as for the corresponding week last year. The
average weight of the hogs marketed contin-
ues to be smaller than last year here and at
Chicago, so that the amount of stock pro-
duced must be less, and it is not equal to the
current foreign exports, so that with the do
nestle consumptive demand the moderate
supply at all points Is being rapidly reduced,
The corn crop is now safe from frost in lati-
tudes as far north as the northern part OF
Ohio, Indiana and Illinois. The frost of last
| week did no damage to it, but was rather ben
eficial.
The number of hogs packed since March l
to dates mentioned, according to estimates
based on supply, and packing returns fur
nished to the Cincinnati Price Current, are as
| q a L H. ~ y,,I