The New Orleans daily Democrat., 1878-09-26
Commercial and Financial Matters.

Commercial and Financial Matters.
| The decrease in the State debt Of Texas for
the past year Is announced to be over 100000.
/ Eggs ten cents dozen. calico five cents q
yard. In Gainesville. Ga. Whereupon the Ea-
/ Gle remarks: A healthy hen Is calculated to lay
| two dresses In O. season.
/ State Consos opened yesterday at 74& and
closed strong at 745s@74N. gainst 74t4g74tz OH
Tuesday. Sales reported at the Exchange
s55, 900. Premium bonds closed steady at $40
| s24, against 3lA@s1A on the previous day.
Sales $4,000
/ According to the New York Times. Of the
twenty y-second instant. the exports Of grain
from that port continue remarkably large.
The shipments last week from New York were
2.320oo bushels Of wheat, 65t 900 bushels Of corn,
10000 bushels Of oats and $4,000 bbls Of flour.
4 The export Of wheat during the previous week
was the largest ever known 300 900 bushels.
l
The Khedfve OF Egypt. who had absorbed
like the old Pharaohs, about one-fifth Of the
| landed property Of Egypt 900 acres-and
lost money on every farming and manufaetur-
ing operation he undertook, has turned his
land all over to the State, sugar plantations and
all, This Is great change for the better in the
prospects OF Egypt.
The Tobacco News publishes q statement of
stocks In America and Europe, showing that on
September the visible supply was 41tooo hogs
\ heads larger than @ year previous. 1t occurs to
/ us that the News attaches too much Importance
to this contrast, as indicating weakness In the
4 position Of the trade In fact the apparent sur
A plus In the supply for the next twelve months
liz nominal and unreal for 1t is hardly open to
question that the deficit In the crop Of 1878 will
cancel that surplus .superadded to the unsold
portion OF the crop Of 1877 yet In farmers hands.
1 Farmers and country buyers are holding an un-
usual proportion Of their unsold tobacco in the
open market which enters in the figures Of sur
plus as stated.
The Spanish government after an extensive
4 quest, have at last discovered the notorious ad-
yenturess who swinded the Madridenos out
of nearly 80. 900 two or three years ago She
opened a banktng@house In the capital, paid 20
q per cent on deposits for four months after
J which she gave 80 per cent still owing the
original amount In q few months the popular
bankeresss disappeared. and an Investigation
by the police revealed an empty bank. She had
paid about s7oO, 700 In interest and appropriated
the rest to her own use. Her husband, Senior
Larra "a popular satirist," brought his own
SbGooE W h Sauaou 6toSC yOhfo HfsO Wy btoWlLS
out his brains. His interesting widow was
found living in great state near Paris. She now
resides at Madrid at the governments expense.
On the last day Of April 1878. the ew Orlean
. Cotton Exchange issued q circular against the
use OF fax bagging Of q certain description for
the baling Of cotton. This document was not
directed against flax bagging when 1t Is care
!, fully and properly manufactured but. unfortu-
tnJ,
bagging In which is interviewer the straw of the
fax, which comming1es with the staple, and for
the elimination of which the machinery at pres
ent in use by spinners Is utterly useless. Some
Of the cotton received at this port covered with
fax bagGing ID OF the best quality and meets
with ready sale. But q small proportion Of
our feecy staple, during The past two years, has
been covered by fax of an inferior quality,
mixed with straw. and against this description
OF covering our cotton men desire to protect
themselves. Tho circular 81 HI eGettttea E-
, change, alluded to above, was designed TO pro-
ducey this effect. Il was not aimed at planters
using flax bagging, per Sc, but at those who use
that description Of covering for their bales
which is mixed with straw and which stains the
cotton and otherwise impairs It's value for
manufacturing purposes. a~~.#
In Its annual review of the cotton trade. the
New York Financial Chronicle has some facts
which are interesting. According to this jour
nals report, the amount exported twas 428,00o
bales less than In 18596o. the year Of the largest
crop before the war, and the price for the ex-
ported cotton has averaged about the same Els
In that year. The production In quantity is
about the same as In that year, though much
less per capita. In 1860 the production Of cotton
was about seventy-one pounds per capita; last
year 1t Was about forty-eight. at the present
time the home consumption is q little In
excess OF any year before the war, the amounts
being-1577-78. about 1916 per capita
go. about 1432 per capita. AS the finer
, goods are now mere largely made here, so that
J q given quantity of material yields greater
number Of yards Of cloth. 1t appears that this
, country now produces more yards Of cloth per
capita than 1t did before the war, but 1t last year
exported over 1850 900 yards of CLOTH and Of
the uncolored goods produced nearly one TENTH
The Chronicle believes that the importation Of
foreign goods will not again be as large as pre-
vious to 1878; that instead the foreign de-
mand for American goods Is increasing. and
that through the use Of labor-saying machinery
!, the manufacture has made great progress.
J and the production has been eheapened.
Operatives receive, In proportion to the
cost OF living, higher wages than In 1860;
4 supplies cost more and cotton as much as then
yet better machinery. higher speed and greater
skill and economy enable the mills to supply
goods at less cost. That the American manu-
facturer is getting the trade Of foreign rivals
is clearly indicated by the rapid growth Of ex-
ports of cotton goods during the past few years.
The reputation Of American cotton Is estab-
lished. and it is not unreasonable to expect that
within comparatively few years, unless its pro-
gress is interrupted by some unseen obstacle, 1t
will take the place of Great Britain In the for
eign market In 1874 less than 100000 yards
Of cotton cloth were exported; In 1s78 seven
times as many.
DAMAGE TO THE RICE CRop.-Messrs. Dan
Talmages Sons d Co.. Charleston report as
follows upon the damage to the Southeastern
rice crop:
OF ascertainable damage the greatest has
been to the plantations the breaking OF dykes
and the labor requisite to put the plantations In
ordar nm hfpdIp i'm v1lva hnpI rod