The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-05-03

II Is d singular fact that twenty Of the Now
York firms who signed the petition for the
repeal Of the bankrupt law have since doing
50, gone into bankruptcy.
The steamboat G. II. Durfee, which arrived
here from Shreveport on Tuesday night,
brought 1876 head of cnrnfed cattle, which
were only seven days on the way from san
Antonio TO this city. We are glad to learn
that arrangements have been perfected by
which large shipments OF cattle from Texas
can henceforth be brought by the way OF Red
river TO New Orleans as expeditously as was
the small lot by the D,rfce We also hear
that several parties In Texas engaged IN the
cattle trade, having assurances Of quick
delivery Of their stock in this city, hay" eX-
pressed their intention Of shipping largely by
this route.
From all parts of the State comes to us the
most cheering intelligence concerning the
prospects of the crops. al along the river,
on the IIpper and lower coasts. the sugar CaBe
presents Il most promising appearance, and
the planters being well up, il not ahead in
their work, are feeling greatly encouraged,
and are beginning to cherish strong hopes OF
d bright and prosperous future Rice planters
arc grumbling little because there is not a
higher stage Of water in the river but they
can find comfort in the hope that June
rise" will bring them a suiliciency OF water to
irrigate their fields We learn that along the
Ouachita the stand of cotton is unusually
good. -
The Galveston News says: Let the st.
Louis merchant alone for combining bust
ness with pleacurc. A dispatch to the Re-
publican from Houston, from member Of
the late excursion party, it is presumed, says
that numbered the excursionists have made
the trip a profitable one, one gentleman
having sold ten carloads Of manufactured
wares. "Othcrs have laid tho foundation for
n large trade in the future" says the dis
patch, "and the ten days work, all told, has
convinced the Texas people that st. Louis is |
waking. tp and means business 1t is the
main chance with st. Louis people first, last,
and all the time
The ST. Louis Republican, in referring to
the shipment of grain by the towboat My
Choice, now on her way from that city to
New Orleans states that it is the largest
single cal y Of grain ever shipped from st.
Louis. According TO our contemporaries |
computation this cargo would have filled 300
railroad cars, 50 that it would have taken
about eighteen trains TO move the same
amount of grain. There are nearly 10000
bushels of wheat, rye and corn in the bargcs, |
and 400 bushels would be a liberal allowance
for a railroad car
The Chicago papers of The tbirticth tutmo
state there is no hull in the excitement in that |
city among the untortunatcs who want to get
int, nj pNyx UbiIp IT, i. npSGibp Riff
seven new petitions were filed on the pre-
yious day, and the haste and cagerness man |
Tested by the applicants are described as
amusing in the extreme. I'm the hurry sew
eral Of the petitions wore put together in
every kind of way, the schedules of debts
being mixed with those of the assets, and I'M
secured and secured liabilities running to-
gether on the same page One individual, in |
his excitement, George III. Rugg, forgot his |
own name, and spelled it George Ii. Rugby.
The war Is estimated in England to have
cost Russia S50O,0O0,0O0 The Augsburg AL
gemeine Xetung calculates that in the event |
OF war with Russia the Russian Finance De
partment would have to get together 100000 |
900 rubles to cover the deficit Of the next nine
months. Loans are impossible, and the Rus
sian government could obtain its supplies
only by forced loans through the unlimited |
issue Of irredccmable paper The Algemeine |
Ieitung prophesies government bankruptcy |
and the impoverishment of the people as the
ultimate result and significantly refers to the
fact that twenty years of peace have not en-
abled the Russian government to extinguish
the paper money debt Of tho Crimean war.
An important insurance case was decided |
on the twenty ninth ultimo by the United
States Supreme Court. 1t was that Of the |
New York Life Insurance Company VS.. Egg
glestOn ct al, administrator Of Wynnc, de- |
ceased, and another; error to the District |
Court for the Northern District of Missis |
sippi. 1t is held by tho court in this case
that where party insured is instructed to |
pay premiums to local agents, and the agent
with whom he has been instructed to deal
ceases to be SUCH and no other is designated |
by the company, and in consequence of these
facts the premium is moi paid AT maturity
because the insured does not know to whom
to tender it, the policy Is not forfeited by
failure to pay tho premium notwithstanding
clause i'll the policy provide. for forfeiture
in such case.
We learn from the Republican that the St
Louis National bank has received two coun-
terfeit 500 bank notes, purporting to be notes
of the Merchants National Bank of New
Bedford. Massachusetts, The engraving is
we'll done, but the counterfeit is easily de-
tected by the fact that there is too mitch en-
CRAVING, the signatures OF the bank officers
being engraved, whereas in all genuine notes
they are written, the law so requiring. 1t is
also noted that the red ink figures in the left
case in counterfcits Ills claimed, by tho way
that these figures are an infallibie guide for
detecting counterfeit bank notes The impress
sion is never clear and sharp in countCrfeitS