The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-10-13

that there are at present about $50 vessels
{ lying in the port Of Calcutta, only six OF
which have charters for q fresh voyage; the
destinati on of the rest is uncertain Is,
Che freights Offering are so very low that the
owners or agents are obliged to decline them.
similar state of things exists In Bombay
also.
Al government secret service detective in
The West mentions case In which O little
girl unwittingly caused the arrest of her
father for eounterfeiting. On her way to
school one morning she stopped at confec-
tioner's to buy five cents worth of candy, and
handed the proprietor nickel five-cent piece.
He xamined it and said he did not think it
was good. "Oh, know it is," she exclaimed
innocently. because papa made it. Papa
max es lots just like that"
I'D being about settled that England is to
pay us $150,000,000 during the coming year
for breadstutfs, there Is an encouraging fact
IN connection with their trade, in that the
amount will be SO much paid on our debt to
1 that country. This country Is EngIands
debtor to the amount Of 81, 900, 900 held as
national, State municipal and corporate
securities on loans. England can afford to
buy our grain and pay for it in these securi-
ties, and by this means we will be paying
our debts.
a railway across Newfoundland is pro-
Ieeted. American and British capitalists
have joined hands in the enterprise, and the
Legislative Assembly has offered an annual
subsidy of 100000 to any company that will
4 no On with the work. With this road COM
pleted, and railway communication estab-
lished over Now Brunswick. Cape Breton
island, and on into Maine, the Californian,
/ longing for trip to Europe, might go by rail
ACROSS the Continent to st. Johns and from
4 there ferry over to Queenstown. And ferry
boats might take on board the original San
Francisco drawing room cars, making an all
rail trip Of 1t. Invention has not reached the
end Of its rope by any means.
New York papers say that q proposition has
I been made by Jay Gould to consolidate the
Union and Kansas Pacific Railroad Com
Y panies. The plan proposes that $1G,000,000
worth of fifty year 6 per cent first mortgage
bonds be issued by the consolidated COM
pany to take the place of all the Kansas Paci-
tic Railway first mortgage bonds, the new
mortgage toeover all the lands. rolling stock
and other property Of the Kansas Pacific
Company, along the whole length of the
\ road from Kansas City to Denver. It also
= provides for the issue Of 10000, 900 Of new
Union Pacific consolidated stock, SIS OOO, 900 of
which Is to 90 to the holders OF the Junior Sc
curities and stock of the Kansas Pacific Rail
Il way Company as part payment in full for
their surrender, the remaining $5000000 to
be distributed among the present stockhold-
4 ers Of the Union Pacific Company. The propo-
sition is regarded as another scheme of Jay
Gould to get possession of the Kansas Pacific
Y Pacific bondholders' committed
Several of the boards of trade of Southern
cities, last spring, passed strong resolutions
against the use of flax bagging. This course,
Il as we have heretofore had occasion to explain,
wa altogether too sweeping, and most of the
boards have rescinded their action on this
subject The fact is, there was no objection
TO FAX baggng OF good quality; but when an
infarior description was used the cotton be-
raHle stained and mixed with fragments of
ssttaw, which greatly impaired its value with
srSAaers.
IL l'he following circular, kindly furnished us
g,!k Mr. Hester, presents the action of the New
J1rk Cotton Exchange on this matter:
New YORK COTTON EXCHANGE,
sg October g. 1878. |
I'VE beg to inform you that at q meeting Of the
BOARD Of Managers of this Exchange held on
Ghd fourth instant. the amendment to rule
afatrteen. May 49, 1878. in relation to fax bagging
Was repealed. The following resolution. eX-
5S1 That the Board Of Managers Of the New York
Cotton Exchange hereby give notice to all con-
cerned that cotton covered with fax bagging
gnade of green or unrotted fax. Or filled with
Eankas, liz very Objectionable aud is liable to re-
Nssaon as understandable and as not being
y5aff,y