The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-01-10

Commercial and Financial Matters. |
The exportation OF tobacco thus far this sea- |
eon sums no s7es hhds. against 1881 hhds last
season. ---
II Is estimated that holders of stock In Bos-
ton will receive during this month in DIVIDENDS
sio,Ooo.0oo. -
The Peruvian mines that Henry Meiggs was
fuppeing when he died have yielded $500, ooo'ooo
In silver In past ages
There were $50 failures in Boston in the last
three months OF 1877. The aggregate liaoiiieieS
we're 81. 2s7. TAO. the assets s7S55lo.
There are now I'm the port of New Orleans 20 |
ateatnships a. ships 40 ba rks, briggs and IA |
aohooners-mskine a total of 122 sailing vessels |
The total exports Of corn from this port since |
September l. foot up 1887 900 bushels. against |
77a 1a4 bushels for the same time last year Inc
exports OF -four amount to 5e,4s2 bbls, against
7p,3os bbls last year
In 1877 there was rs compared with 1876. de-
crease Of "a 900 900 In tho bank cearings IN
Chicago sts 100000 In st. Louis. and $40 100000
In Cincinnati, while In Louisville there was an
increase Of s24 600. Good for Louisville
Chicago shows considerable shrtnkage IN
business In 1871 Tho value OF the hog products
handled alone presents q deficit OF s2b,Ooo,ooo.
though the amount of business transacted was
unusually large The general merchan disc
movement was smaller in bulk rs In value.
A dispatch states that Southern manufac-
sturers of tobacco now propose to Mr.. fucker
of Virginia, as u means OF overcoming the
shock to the tobacco trade by the change OF tax
meditatsd that drawback equal to the reduc-
ton shall be allowed on oil payments based on
stock In trade at the date Of the reduction.
gt Louis opened the record OF 1877 with thir-
ty-eight banks and closed 1t with twenty-six.
The changes In Chicago were proporti nate.
though the exact figures are not ut hand. These
two cities had the worst experience OF any in
the West but we need not say that mono escaped
without being seriously singed.
Up to Juno 30 1877, French exports were
$4,000 900 less in value than during the same
period of the previous year. The latter portion
of the year has shown u moro favorable condi-
ton but both in exports and imports 1877 was
a bad year for France. People are too poor to
purchase her many articles of luxury.
The special agent of the Treasury Depart
ment has been looking into things in the New
York Custom House. He reports habitual VIOLA
ton of law and gross carelessness in the trans
fer of goods In bond to inland ports Of entry,
Millions are annually lost to tho government
he thinks through these Irregularities.
The Bum failure in Springfield ILL.,. Ia a big
ger thing than at first reported Bum owes
Sel2Ooo. His real estate, which cost over
100000. has deprecated to 100000. and his
personal property foots up about 100000 The
trouble Is about selling the real estate. which
nobody wants ut present. and. therefore, Mr..
Bum is no longer millionaire.
The Gales of stocks in New York last year
amounted to 40 1872 p6o shares. against 1896. o36
in 1876, and s13 900 in 1876. The average range
of prices was many degrees lower. the only ex-
captions to the decline being the Chicago and
Northwestern and Michigan Central stocks.
The increase In sales is alone suffcient to &C.
count for the moderate gain in bank clearings
in that city.
The greatest drawback upon financial pros
perity ut present. says a Western Exchange, Ia
not that the failures of banks. savings institu-
tions, insurance companies and firms are so
numerous. but that their going down Is faint ed
with acknowledgement and downright dishon :
esty. But to this there must be an end and in
tlm6 inc 6JsTllIE gram Will De WluhuWeu HOu
the chaff. Modern improvements cannot fall
sify the old-fashoned maxim that honesty Ia
the best policy
Some Americans organized as a guano com
pany, have launched themselves into a bad
scrape by the occupation Of some islands be-
longing to Jamaica. which Is tho property ol
Great Britain. They were proceeding with
their work Of shoveling up the guano, when q
n,;+t ab -cft n IT IN hp oh
Americans claim the islands by virtue of first
discovery" but it is not likely thai anything in
the shape of land within radius of a hundred
miles about Jamaica has escaped England's
eyes. Jamaica is about ninety miles south o.
Cuba. and is q very valuable piece OF property
The st. Louis Times pays we'll merited com
piment to the banks of Texas and declares
that no institutions of the kind In the countr,
have stood the strain OF the pas four years
equal to them. Both priva and national. they
have done a fair business. without single fail
ure or suspension of any importance. No better
commentary could be written upon the bank
ing system of that state and the conservatism
of its management.
The same encomiums can be passed upon thu
banks In Louisiana. For several years past W,
have had but one suspension among our bank
ing institutions, and that was Of a private banl
and was brought about by extraordinary cir
,eumstances. and had not the least influence o
an adverse character upon the financial affair
OF this city or State.
The Bankrupt Law.
During the session Of Congress- previous t
the holiday recess q large number of bills of
fecting the bankrupt act were introduced TIL
majority were for the unconditional repeal 0
ha Ruto Of fbaua h.,