The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-06-05
Commercial and Financial Matters.

Three vessels cleared yesterday for Liver
pool with 93O8 bales Of cotton,
The exports Of cotton seed oil cake yester
day from this port to Europe amounted tt
J7,723 sacks.
The total pork packing up to June in the
West Ia estimated at f.139,000 hogs, since
March : nm increase Of 100000 over the cor
responding time last year
OF State ConsoIs there were sales yesterday
OF $t77.00O and they closed weak at 7o'4 all
against n4@U% on Monday The sales Of
Premium Bonds amounted to S78, 420, and
they are quoted at 33}GM33}4, against 1874 0034
on the previous day.
The st. Louis Republicans mentions that
there have been large movements OF grain
during the past week from that city. II says
considerable corn has gone eastward by
rail and also OF wheat, corn and ryo by river
to New Orleans"
The champion county in the United States
for sound finances is Talbot county, Md It
Is free from debt has just loaned $4,000 and
has $4,000 due for last years taxes The
rate Of taxation Is but 80 cents on 500. IT is,
OF course, Democratic county.
The English people have shown their sturdy
patriotism and strong faith in their govern
ment by maintaining public securities at
creditable rates through tho long excitement
that has been agltating Europe. Tho per
cent oonsols have not been below "a cents at
any time. John Bull is accustomed TO face
national poriI with unfinching faith in his
ability to take care OF himself.
The first case under the national banking
law Of stockholders suing bank directors to
recover losses on stock has come up In Mid
dletown, N. Y, where stockholders of the de-
functsWaIkill National Bank have begun suits
against the directors to recover their losses on
the stock Of the bank, including interest since
the last dividend in July, 1879, and the assess
ment of 30 per cent collected by the controller
to pay deposltors and creditors. The total
losses OF the stockholders have boon $3.50, 900. |
The action is based on tho UiHiH that Tit Il
rectors are responsible for their personal
negligence In not experimenting the manage |
ment of the bank.
France for many years has been COmpeti- |
tor of ours to some extent In feeding the Brit |
enough to supply the wants of her own peo- |
pie, and has begun to import from this Goun-
try The reports Of our consul of Havre |
show "A stead increasing demand for Ameri- |
can provisions in France, and two steamers,
which have been fitted up with refrigerating |
chambers, have taken to that country In tho |
last six months half O. million pounds OF fresh |
meat. During March and April 100, 1893 bushels
OF our wheat was landed at Havre and 425, 600
bushels Of corn, besides 60 332 bushels of oats
during April But the great trade Is in bacon.
lard, tallow, beef, butter and cheese.
There seems to be at the present time q
strong inclination towards higher prices in
provisions in this country; but the fact Is
patent that breadstufTs are weak and have q
downward tendency. There Is no doubt that
the prices of the product of the hog have gone
below their actual cost, owing chiefly TO the
Of the supply of the raw material
and other causes which we will not mention
ut this time The great controlling market
Chicago has Of late been fiuCtuating with IN
frequency, and this has tho effect Of
the minds of operators all over the
country. Some believe that pork is on per-
ascending scale and will not mat0-
rally reoede while other long heads think
hat they discern signs of q mammoth
corner" in Chicago on that article,
hat il is likely to realize other falls {
n prices, and that these frequent and
sudden variations in quotations seem TO con- I
irm them in the opinion. We shall soon SEQ {
which is the correct supp0sition. Tho weak
Tess in the breadstuffs market is attributed to
he strong probabilities that England and f
Russia will compose their difficulties, the IA /
'orable outlook in Europe for a large crop :
Il cereals and the promising condition of
he grain crop in this country.
A paper was recently read before tho Brit !
sh Society of Arts, Mr.. Ernest Seyd, an emi- \
lent politico-economtsS, presented an inter !
sting statement of the annual trade balance
i the United Kingdom of Great Britain in
connection with the estimated income from r
oreign investments. This statement shows 6
n increase OF national wealth between 1854 I
nd 1775 amounting to So, 200, OOO, 900. and since
S75 a decrease of $495, 100000. The net balance
vas against England in 1875 for the first time
. her commercial history but has continued
since that date to tho present
lme. Mr.. Seyd docs not charge off any Of
he dofaulting foreign investments of Eng
sh capital in the above table, on which he Il
uts the annual loss at $4,000, OOO or, If rock
ned as total losses, at, say, 5000 900 600. Add
~ this to the decline in the value of British \
hipping he arrives at u grand total Of Il
| ,0O00O0,0O0. This would make the losses Of
he United Kingdom In foreign trade and for
ign investments since 1875 about 81 800, OO0,- -
90, or nearly half the profits in the proceed II
lg twenty-One years British shipping Is n
tated to have averaged q profit of 20 per b
ent In former years, now yielding hardly n
er cent b
The harvesting of wheat in the United tc
tates begins in Texas, usually The last of n
lay, and from that time until August the VI
lryest continues travelling nOrthward as the
JASON progresses and after the winter wheat Il
cut, which is usually all done in June,
,D1nC tho Gr,fiDCr u-bn y,iDnnc bD,,t Al