The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-02-22

50 $685. l5 4s. The site. which was purchase
May a. 1874. cost sses,ss9 Is. The total appropri
alton for the work was s4,25o,ooo. The balanc
unexpended is s2i6,to1 ~. Hi
queer story. which was soon exploded
gained ground In New York last week to tn
effect that all the English steamships In Ameri
can waters had been ordered to return home b.
Saturday, In order to transport English soldier
and supplies to the East. 4s, .s,5ts.. N.t
Last month the four ports of New York, Bos
ton. Baltimore and Portland sent sll,l7o.e5
worth or provisions to Europe. Among TIL
New York shipments were 5ls44.s7s pounds 0
ham, 2974.54o pounds Of fresh beef. over 100000
pounds Of pork, nearly 100000 pounds o
cheese and half a million pounds Of butter
In reference to our largely increased graft
trade, which already this season amounts K
about four times Its volume last year. we heal
complaints that there is not sufficient eleva
ting capacity to move, expeditiously. the grair
there have been several detentions Of boats
owing TO this deficiency. Last week the steam
boats Sam Roberts and the Warner were de-
layed for several days on this account. In this
connection, we are glad to notice, that MIR. De
Dondio is applying to our City Council for The
privilege of erecting an elevator at the head Of
Erato street. i52 H@@" @a#A
Prior to the discovery of gold in California
the bulk OF the gold product OF the United
States came from North Carolina. Georgia and
South Carolina. and was sufficient to cause the
establishment Of branch mints at Dahlonega
Ga and Charlotte, N. 9. The report Of the di.
rectors OF the mint for the fiscal year ending
uk,H1 t1x,rx 4 ell,
ed at the United States minis and assay offices
from the States mentioned amounted to sle,oas.-
22s. Parties conversant with the character and
history OF the mining In this field estimate that
almost an equal amount of gold has been pro-
duced there which has not gone directly into
the minis. Up to 1850 the methods OF mining
In this field were very primitive--savng at the
highest estimate not more than 80 " cent of the
gold. Between 1850 and 1860 the tide of
mining enterprises set 80 strongly westward
that the South Atlantic field was comparatively
deserted. TheswHr anu consequent impUver ISL
ment of the people caused continuance there
Of the desultory mining by farmers and ne
groes. with an occasional stamp mill, until very
lately. The known presence of extensive de-
posts In placer and veins. has caused investi.
cation by experts trained in the Western pre-
cious-me fields. which resulted In resuscitat-
Ing and organizing the mining industry Ia
these Southern States notably In Georgia,
where the hydraulic process and regular quartz
mining are being successfully introduced. and
in North Carolina where the principal atten-
ton seems to be given to mines that have been
famous producers. such as the Gold HILL Rud-
disill and Kings Mountain mines.
In 1870 there were 100 New York State Are in
surance companies. In 1877 there were ninety
Ave. The aggregate capital Of the remaining
ninety-hve companies is Sos. ss7.72o. and they
have now $Be 8s3. 196 assets. Their receipts last
year were ga 4b3.02e. and their expenditures
21se4,e 7o. Excess Of receipts over expenditures
sses,abo, equivalent to about per cent on the
assets or two per cent on the capital. OF the
expenditures ss,62s.175 was In dividends paid
The companies are carrying an aggregate risk
Of q, 1851 1902. for which they receive premiums
um for every 800 OF risk assumed large per
csntage Of which Is to be carried for three or I've
years. An exchange says:
The dividend paid Is only a fraction over
per cent on the capital. 80 that really there has
been no profit margin on the premium account
unearned premiums on unexpired risks it
would be found that their business had been
transacted at positive loss. Fifty-four OF the
received. The foregoing. It must be remem-
bered. Is not the individual experience of any
company but 1t Is the statement of the aggre-
gate and demonstrates that unless the plan Of
business is changed insolvency Is certain at no
very remote period.
This condition OF things has been brought
about by foolish attempt on the part of some
OF the larger companies to crush out the
smaller ones. and thereby secure a monopoly
OF the business. 1t Is true that the tendency OF
the business is to Capitalization of the capital.
but the time has not yet arrived when any com
bination of capital that must trust its business
n
out smaller associations conducted with pru-
dence and skill.