The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-02-15
Commercial and Financial Matters.

COmmerclal anu Financial Matters.
Chief Justice Warner, Of Georgia says that
he never saw United States bond much Less
owned one
The Statistical Bureau of Berlin estimates
the total steam motive power Of the world al
7b.oon, 900 horses.
The British steamship Wimbledon cleared
yesterday for Liverpool with the extraordinary
Hn its description cargo of 81 $40 sacks of cot
ton seed.
Among the clearances Yesterday we notice
those Of the steamship Gamma. for Liverpool
with 80 1T4 bushels of corn In bulk, and the bark
Carmel for Houen, with 2s,52s bushels of corn
in bulk and 1000 sacks Of The same commodity.
The steamship Rita, for Liverpool, asofcarried
out i2ii sacks Of eorn-the whole indicating a
very respectable export movement of grain
The local approximations for CARRYING on the
municipal administration Of New YORK for the
current year were. in round numbers $40 900 900.
The local expenditures of The British metropo-
lis for the year 1917 were, In round numbers,
sas, 100000 TO the credit OF New York city. how
ever 1t may be stated that the reductions in that
eitys debt during 1871 amounted to nearly
s375o,oOo.
The sugar trade" Of New York has made a
recommendation to the House Committee on
Ways and Means Of a rate of tariff on imported
sugars of from two to four cents pound on the
extreme range Of grades. and o., moasses Of
six and a quarter to ten cents per gallon. This
IL made on the estimate Of the Committee of
Ways and Means that a revenue OF $40. 900 900
shall he raised by the duty on sugar and mo-
lasses.
A friend Informs us that the leveea below
Deer Range plantation. nearly opposite Pointe-
ALA Hache, are In q very dangerous condition.
the banks caving in many places up to the bases
of the levees Despairing of any early and
prompt assistance from the State. many of the
planters In that section Of country have gone
to work to strengthen their levees at their own
expense, though this involves much time. labor
and money.
Peter Herdic. the millionaire lumber king Of
Pennsylvania, is in the straits of bankruptcy
Thirty years ago he went to Williamseort. Pa,
a poor boy. unable to read or write. and pulled
logs out Of the river for living. His wealth
was recently estimated ut from s4ooo,00o to
$4,000. 900, and 1000 men are dependent upon his
industries for support. His assets are, how
ever. chiefly real estate, and he is unable to
meet his liabilities, which are not less than
n 100000.
The scope of the bill prohibiting pool selling
and betting led to the objection in the Massachu-
sets Legislature, that 1t must interfere with the
grab bag. the lotteries and the raffles Of church
fairs. Thereata pious member urged this az
an additional reason for the passage of the act.
saying that the practices of church fairs needed
reforming az much as those Of the race course
There are people who fail to distinguish b.
tween the right and the wrong of turning the
wheel for gold cane in church parlor, or for
double barreled shotgun in a corner bar
room.
The demand for trade dollars. says the Gin
cinnah Commercial, continues, and in come
parts of the country 1t is very active and press.
ing, The banks cannot get enough of these
dollars, and the people rejoice In them,
though the fact s well known that they are not
lawful money. They contain AGO grains Of sill
yer. 300 nne. however. and the people have con-
fdenee In that The price Of silver is rising,
and the rise has already swept away the mar
gin of profit on these heavy dollars. It is the
popular instinct that these dollars will present
ly be at a premium. and the people are putting
them away
At this time, when the atmosphere of Europe |
appears to he 90 Hulphurious aud warlike the |
status of those great institutions the banks of |
France and England. possess peculiar interest |
The return Of the Bank OF France for the |
week ended January "a, shows: Cash on hand, |
eas' OF .e22; diseounS s5s5ss $50; treasury bonds
on hand s6o,15o.ooo; active note circulation. |
s4a4 le2 oel public deposits, 1880 4ea: private
deposits, ss7 .e5e.os6 The proportion Of bullion |
to cash Is 800 per cent :
The report of the Bank of England for the
week ending January 80. shows; Surplus, sl6,-
ssp,5o5; public deposits. s1s.52s265: other de-
posits, siso552, 800; government securities, sss,-
ae2, S4S: other securities. sseo4I175 notes unem
poyed, SIS. 2ss AIS notes In circulation sls5 47s-
S7S. and bullion on hand, st23.b7 gro
We understand that the bill introduced IN the
Legislature to prevent planters from cutting,
Under any pretext or for any cause, the levee
places, Is being urgently pressed
t strikes us that this bill should be very care
ully weighed and considered before any action
g taken on the same. Some of our friends en-
aged In the culture of rice are of the opinion
hat the passage of this bill will prove death
low to their interests. Without the irrigation
fhich is now obtained by means OF foodgates
nd sluiceways the. culture Of rice cannot be
pretltabfy or successfully in many
ortions Of this State; in fact. this branch of
gricultural industry will have to be abandoned.
1t all events, this is the belief OF many Of our
ice planters on the lower coast as we are in
,rmed. We earnestly hope that our legislators
'il examine this subject carefully and thor
ughly before taking action on the bill now
efore them. 0
Prospects Of the Gotten Market.
MIR. sam'l H. Buck. the secretary of the Ma
onal Cotton Exchange. has obigingly fur t
Ia 1uuf
Messrs. Smith, Edwards & Cox of Liverpool.
ated January 81, from which we take the fol- 4
owing extracts: r
The prospects of our market have changed y
for the worse since the beginning Of
le year. AT that time the favorits oron esti-
lates We're 1900 900 to 1900 900 bales but the I'M II
Spectedly large receipts now reaching the a
merican ports have caused decided inclina4 I