The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-08-20

Commercial and Financial Matters.
The frig Flying Cloud arrived yesterday
from Matanzas with 5s4 hogsheads OF sugar
The ship Virginia, from liverpool, reached
here yesterday with 5000 sacks OF SALT
Ihe United States Economist, of New York,
Is convinced thai the long-looked-for revival
tsF trade has indeed com menced.
The San Francisco Call estimates the wheat
crop of California at Al $4,000 bushels and the
barley crop at 1,121 800 bushels. Ihe same ]
paper estimates the surplus wheat FOE export
ct 100000 IONS. ...#..&w
According to the Cincinnati Price Current
the pork packing at the great packing points
of the West. from the first of March to the
sixteenth OF August, footed up 2,249,24 hogs.
against 9,GG3 last year.
The New York Shipping List says that there
is q confident feeling among the merchants OF
that city, and trading classes generally, that
the approaching fall season will not only be
an active one, but that it will be attended with
fewer hazards than for many years.
When steamboats, In England take on
board more passengers than the law allows,
they are made to pay the penalty. One boat,
recently, had to pay S76s. Here in this coun-
try the penalty would probably have been re-
snitted through political influence
According to the internal revenue returns,
the citizens of the Republic are drinking less
whisky and more beer. Whisky-that part
of it which paid revenue tax, at least-fell off
from 57,00000O gallons for the fiscal year OF
1877 to 5o.7o4,ooO gallons In ds78-a difference
of nearly 100000 gallons. For the same
time the revenue-paying beer increased from
9,4sO.OOO barrels to es37,oo0 barrels-an in
crease of 457 900 barrels or 1871 900 gallons.
The hard times in Great Britain are shown
BY the last semiannuaI report Of Richard
Seyd, q leading authority in business affairs
In England from which 1T appears that for
the first six months of this year the failures
In the United Kingdom were 7516. According
TO Dun Barlow e. Co., the failures In the
United States and the Canadas for the same
period were only 1926. These were out OF q
list of 100000 persons or firms engaged In
business, and it Is claimed that there are not
so lIlhIIy ia bllt oAAtCa AAiHksAchA'
The production OF honey in California in
1876 was estimated at 100000 pounds which
was largely In excess Of the home consump-
ton, and a large amount was sent to the
Eastern markets, but last year the honey
crop was g. failure, owing to the droutn
Many apiaries were entirely destroyed, over
$4,000 colonies in Los Angeles county alone
being lost because the owners had not left
them honey enough for their support during
the dry season. This year the season was
favorable and the production per hive viii
equal that of 1876, but the aggregate supply
will be less, because Of the reduction in the
number of bees last year. Considerable ship
ments have already been made to the Eastern
markets.
On Monday of last week the Bank of Eng
land advanced its rate of discount to 8 PEI
cent. This course was rendered necessary
not because of an increased mercantile de
mand for money, but on account OF purel!
monetary movements The London Econo
mist gives the clew to this when it says tina
/ the new loans and issues of capital during tn
j month of July were e7,908200, and In JUNE
,e12 100000, making g. total commitment To-
two months 81 E2o315,2 200, against e., $50
last year and E9,12s,6A in 1876 Such rat
n of expansion of loans which absorbs SOL ,57G
900 in two months, with the probability tina
1T will continue large for some months, made
this action Of the Bank of England impera
tive. -
THE BANKRUPT IAw.-The repeal of tn
bankrupt law, which goes into effect Septern
Der /. will prevent the occurrence OF ney
Bankruptcies after that date, but it appear
from the state of affairs in the registers
offices. that it will be long time before th
conclusion of the proceedings already begun
It is estimated that from one to two years WI
be required to close the business. Unde
ordinary conditions adischarge is not reache
under six months, and the period Is Liable t
almost indefinite extension, according to Gil
eumstanees. A great rush OF new business
considered probable during the Interval betol
the repeal takes effect and the amount WI
add to the labors Of the registers and to th
time required. There was considerable acti'
ity in bankruptcy matters Immediately afte
the passage of the repeal act, but 1t ne
greatly subsidized. In nearly all the Office
There are g large number OF old matters Whle
have not been closed In the large citlt
some Of these were begun as early as 1867;
a part of them there has been no actic
beyond the adjudication Of bankruptcy, viii
in a few there has been continual legslatlt
and struggle. Most of these cases, how're
have laid dormant for several years, az
probably never will be closed unless by SON
order of the COURT IN. Y. Shipping List.
FINANCIAL AND COMMERCIAL
MONETARY.