The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-10-18
Commercial and Financial Matters.

The hard-money Democrats OF the second
district OF Connecticut are not satisfied with
the nomination of Judge Phelps, soft
money man. for Congress by their party, ana
are looking out for candidate with which TO
oppose him. The names OF ex-Gov. Engiish
and Prof. Sumner have been named LII thls
connection, but both decline to run, for prlVa1e
reasons, and now Hon. o. v. Colin, ex-mayor
of Middletown, O. hard-money man, OF decioed
ability, is mentioned, and will probably 90
nut forward with reasonable prospects OF sue
cess. --u
IN The Twelfth District Court Of San Fran
cisco. on the twelfth instant, John H. Burks
filed q complaint as stoGkholder in the Con-
golldeted Virginia Mining Company against
John w, Mckay, james G.. Flood, James G..
Fairand the Pacific Wood, Lumber and Flume
Company to recover $4,000OO0 property Of the
Consolidated Virginia Company, alleged to
have been illegally converted to their own use
by defendants. This Is one Of q number Of
suits to be commenced instead Of the recent
$35. 100000 suit. and are intended to cure the
defect In that suit found by the court in sus-
tanning the demurrer of defendants in the
former action that there was misjoinder Of
parties and causes.
A recent review OF the pig-irOn market
shows that the market Is in q very fine condi-
zion. An advance Of so cents per ton Is noted
on some grades OF iron. Cold-short and neu-
tral irons are still at old prices. One of the
reasons assigned for this advance Is that there
Ia not going to be as much high grade ore this
wear as last, and what there Ia will be held
III r., lr1c - +ha 80 hn
encouraging signs In the market Is the pres
emit condition Of the market for old rails. Dur
ing the past six months these have advanced
fully 81 per ton. Only few days ago an
offer OF $22 per ton was made for old rails In
Pittsburg, but they could not be had even at
that price. Western nall mill intending to
start I'D recently found that enough old rails
on which to make q run could not be had.
The reason assigned for this scarcity Of old
rails Ia an Increased demand for their use In
mills In place of puddle bar, and also for re-
rolling.
THE Bulletin des Halles puts the yield
OF wheat In France OF s2500000 hectic.
litres of 1888 bushels, OF 234, $4,000 bushels In
the aggregate. This Ia about 46.00000O
bushels less than ON average CROP
The grain Is lighter than usual, how
ever, and the practical out~turn Is only 1885,
100000 bushels, or 27,11o,ooo quarters. The
crop In 1877 was estimated at 274,000,00O BUSH
els and the net imports were 2253O0 900 BUSH
els, These figures indicate that the French
requirements upon the external supplies Of
wheat in 1879 will amount to say 100000
bushels.
The Bulletin des Halles sets down the avail
able external supplies upon which France
may draw at 1S500O,000 bushels, OF which
about 50,O 100000 bushels are credited to Rus
sIa, 100000 to Austro-Hungary, Ito, 100000
bushels to the United States, and the residue
to sundry miscellaneous sources. The total
wants of the importing nations are estimated
ct 1885,, 1864 900 bushels, but this puts the wants
OF France at 51,OOO,0Oo bushels, and those of
England at 96,0Oo,Oo0. These two countries
probably require at least 35,0oo,oO0 bushels
more than the estimates:
According to the estimates the increased
warts Of France alone exceed the surplus In
the ca "a States crop OF 1878 over that OF 1877.