The daily gazette., 1878-10-04
OCTOBER.
From the II. Y. Sun.

the most delightful of the year. finds the
country with garnered harvest ,forwhlcb
there Is both home and foreign demand.
M Manufacturing interests are still under u
cloud anu capital hides away, but the
autumn outlook for business generally
is less discouraging than it has been for
several years past, and merchants are
hopeful of a fair trade.
The foreign demand tor our cereals is
now unexampled, but we have supply
which has only begun to be drawn upon.
For the nine weeks ending Sept. % the
shipments of bushels of wheat or of flour
reduced to its equivalent in bushels
amounted to 81 100000, as against II ,0O0,-
600 for the same period of last year
The cotton crop is now coming forward
rapidly, and the market for it is active
here and in England. The early prognos-
| tieatlons of crop of the great staple
larger than any ever before barves ed in
the country are not justified, perhaps, by
the results of the picking, but the esti-
mates are that the total yield will exceed
that of last year by three or four hundred
thousand bales.
| The prevalence of yellow fever in some
portions OF the cotton growing region has
lnterfered little with the gathering Of the
crop, for which the weather has, on the
whole, been very favorable. The pesti-
lence has been almost wholly confined to
the towns and settlements, and not till
the last day or two reached the planta-
tions, which really have, in some cases,
gained by reason of the large NUN Der of
refugees who have fled to them seeking
employment. In the districts tributary
to New Orleans the crop is reported az
full one, and that in Mississippi will
come up to the average, though it will
fall below early expectations, on account
of excessive rains In the spring and sum.
mer; while in Tennessee the yield is fair
though the acreage is somewhat less than
last year. The i'll effects of the yellow
fever are felt after the crop has been
lgathered, quarantine regulations pre-
venting the forwarding OF the cotton
and fear of the epidemic driving away
buyers. New Orleans cannot fail to suf
fer severely in her business interests, sc
largely concerned with the movement Of
the cotton crop, and It's merchants count
tho fall trade ~ lost The receipts OF
cotton at the shipping ports of the couo
try for the month of September, how
ever, show large increase over last
year. There were 285 ,9g4 bales, as againht
LOG, l64 bales, all the cotton exchanges
except that of New Orleans, being very
active, with steady market at fail
prices.
The grain crops of both England ant
, | Idntt htt DoloW UHC aNtIdRt, anu tilt
grain districts of the Black Sea are still
unsettled by war-facts which go to ex
plain the present remarkable foreigr
demand for our cereals, and affor(
lpromise of its continuance. During thu
year 1877 France exported "a ,013,5
bushels of grain and -four and importe,
: AZ ,531 ,54S bushels, an excess of import
over exports of more than $4,000, 90
bushels, and this excess is likely to be in
creased in 1873 and 1879 Commercia
8 prospects in England are reported as
little brighter, and the demand for on
!, products as active. Business in our Ne,
}, York markets has been fair during tn
week, and with firm prices there is
' hopeful feeling prevalent.
/, The record of business failures in NeN
York for September shows IL smalle
}, number of them and a lower aggregat
Iof liabilities than the exhibit of an
month for more than year past Ther
l' were only thirty failures recorded, wit
y liabilities of about four and quart,
|, millions, and assets for more than ha
y that amount. The only great failure W;
that OF the Oxford Iron Company, vii
- liabilities put at three millions and asse
D of two anu half millions.
a All the rest were for small amount
from about 100000 down to 81 900.
a course the main cause of this decline
the repeal of the Bankrupt act to obta
re the advantages of which so many iirI
10 were hurried ,to insolvency during ii
summer but the weedug out of the
. weak concerns has Injured to the advar
age of business in the long run by its e
posure of rottenness and indication OF
strength which has ontstood the blows
the adverse fortunes of the past ii
VI years.
Y The balance of trade continues heavi
lin our favor. The value of domestic c
ports for the year ending with Augl
was S72O,0O0, 900, which is an increase
Sl17 900, 600 as compared with Is
Meanwhile our imports We're S43O, 900 ,Oi
a falling off of T35, 100000.
The present month will be througho
one of great political activity and of {
ceeding political interest, for new Q
/. lments have been introduced Into t
- political problem, the weight OF whi
cannot be estimated in advance. Colora
has already held its State election. a
during the coming week we snail {
nd news of the elections of West Virgin
, Indiana, Iowa, and Ohio. On the 9th
= November thirty State elections for st;
officers aud for congressman will occ
When the returns are all in We shall
able to tell how they hare gone.