The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-09-03
Commercial and Financial Matters.

5tIN6. by GhT5LMt IEHEluH IL HIEbReB bH6 HSSGtG
of all the companies to be s1i 100000 less at the
close Of 1877 than they we're at tho close Of 1876
that is. the assets at the close Of 1876 were mo 9
than sI0T 600 600. ut the close Of 1877 they were
more than s39G,oa0,oo0.
Silver Ia not SO much despsed in Europe after
NIL. At any rhte tho European delegates ut the
monetary conference. including the English
delegate buve unanimously declared that it
ought to be retained ia use ne % money matte
4 rial. That Ii point gained for year ago the
N opponents Of the Bland bill declared that 1t was
the universal opinion Of oil sound fnnpciors
that silver WIS rs much q thing Of the past as
material to make money out Of us iron.
Montgomery Daily Advertiser: It is now put
almost beyond dispute that the WHEAT crop for
1878 Is tho greatest one ever grown in the United
States. After making all proper deduction for
the partial failure of spring wheat in Iowa and
Minnesota. the crop for this year romans from
eighty to ninety millions bushes in excess of
the crop Of 1877. All present Indications point
10 long term of very moderate prices for
prendstuffs. In Alabama the largest crop of
corn made In many years viii DO gathered. and
the price will be the lowest since the war;
The French Minister Of Finance Is about to
place on the market loan Of sss 300 900 at per
the per cent government bonds. The French
government does not propose to continue pay
ing por cent when England and Germany
whose credit is no better. and even private cor
porations In France can borrow mt less than
por cent French capital WILL II IL believed. be
glad to take these government securities ct this
low rate. Capital is accommodating In France
rapidly and finds less outlet than in England
In foreign loans
There Hre signs In France Of a railroad build
ing ere. That country has $4,000 miles less Of
railway than England. although several times
larger. Subsidiary ronds to feed the main limos
are to be built freely. A company has been
formed to tunnel the Eimplon--a more difficult
undertaking than tho st. Gothard tunnel. Both
these enterprises are designed to develop the
Oriental trade. The cost Of tho Simpon tunnel
will be about $2o,ooo,ooo. An associate of NJ. de
Losseps wants to build q Central Asia railway,
but the French have not exhibited any eager-
ness to subscribe the 5000 900, 900 needed.
The bureau Of statistics has prepared u state
meut showing the total net imports Of NOR
chnndise. coins and bullion into the United
States, and domestic exports Of the same char
acter from the United States. from 1860 to 1878.
This statement shows that In the nineteen
years accounted for the exports exceeded the
imports 10 tue specie VHIHS OF SllH.nI0,NU0. Duf-
ing the five years from 1863 to 1889 tho balance
against US was s27s,bba17o During the five
years from 1874 to 1878 inclusive. tho balance In
our favor was $C57 1727n. During the past ten
years the balance In our favor has been
f37s.B2D 50.
Tho increased collections made by tho re-
ceivors Of broken national banks are rightly
taken as an Indication that times arc getting
are in slow paper. or In real estate and other
slow property taken in payment of paper. Pay
ments on this slow paper and sales of this slow
property ure now reported better than evor
before. There are 600 national banks in luui-
dation md reports from them show that cooc-
lions are better than they have been since the
panic of 1879. The dividends declared this year
will be larger. taking the average Of the entire
number Of banks, than they have boon since
that date.
Macon Telegraph Messenger: Tho Mem
phis tTenn) bnle of cotton which received the
grand testimonial prize as the best bale Of cot
ton at the Paris Exposition. has had some
what remarkable history. At an exhibition in
Memphis 1t received the grand prize of $1,000.
another first prize at the Centennial. a third at
Liverpool. still another at p national fair on the
continent Of Europe, and now this award at
Taris. The value attached to 1t by It's owner
has boon so great that in Transportation abroad
it has been In charge of special messenger. 1t
was finally bought by tho spinner of lace goods
in Paris to be kept us souvenir. At the phila-
delphia exhibition the Fiji Islanders carried
away the prize for long staple cotton, but at
Paris this year they gracefully yielded to
Memphis.
In Its last weekly review of the business stu
that commercial affairs are just now affected
unfavorably by tho approaching expiration of
the bankrupt act. Lately the clearing house
exchanges ut the leading trade centres have
boon unusually irregular. and rather indicative
4nf q -tiaaia FEELING; tran is commonly
shown at this season Of the year. In some
cities. however. this irregularity Is doubtless |
due to local more than general causes. the de- |
cline In New York as compared with last year |
being attributable to the moderate trading in |
stocks and the steady increase in San Fran
cisco to active markets on the exchange
Of that city. During the week ending on
the twenty. fourth instant the clearing
house returns for fifteen cities exhibited
an Improvement over the Same week in 1877
of per cent in Chicago, 40 ITO per cont In San
Francisco. 20 $40 per cent in st. Louis, IS $40
per cent in New Orleans per cent in Louis
vile and 1-1Olper cent in Syracuse. For the
same week the returns show a falling of Of
q $40 per cent in New York. 40 per cent in
Boston. 81 40 per cent in Philadelphia. 81 ITO
per cent IN Baltimore. II LILO per cent In Gin
cinnati, $40 per cent in Milwaukee. IS Ito
in Pittsburg. go per cent in Providence and
s $40 per cent In Cleveland, Taking the fifteen
cities named together. the returns for the same
period were II per cent less than for the cor
responding week last year, This is certainly
discouragng showing, but the Public believes
that there is reason to hope that the repeal of
the bankrupt act, which will take place In few
days. will develop in the business interests of
the country change for the better. and to some
extent dispcl the uneasiness now so generally
felt.
The ST. Louis Renublican has this to say