The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-03-26

river in the all-water route to the sea via st.
Louis and the jetties. The newspapers are
alive to the new route, and are doing all they
can to turn trade into it's natural channel.
There was a slightly better feeling yesterday
In the market for State and city securities.
State Consols were firmer and were quoted at
577t40771s, while Premium Bonds we're stronger
at 3614936ss. There seems to be an idea abroad
that these securities have touched bottom. and
are now on the ascending scale. OF City Con-
solidated Bonds $4,000 were sold at from ssh to
1874. - ~ .-..= M
According to the ST. Louis Republican it is
reported that company Is organizing In st.
Louis with capital of $3.50 600 to erect a large.
new grain elevator to be operat In connection
with the floating elevator at New Orleans for
the shipment Of produce direct to Liverpool.
1t is said that parties in Liverpool are also in
terested In this enterprise. and 1t Ia the avowed
purpose Of the scheme to reduce the expenses
between the grain grower Of America and the
grain consumer Of Europe. by which the one
will sell higher and the other buy cheaper than
ever before.
The postal savings bill offered in the United
States House Of Representatives by the Com
mittee on Postoffices and Postroads authorizes
persons to deposit any amount from Is cents to
credit therefor In pass-book. When these de-
posts accumulate to the amount of $780, the de-
positor may demand and receive d certificate
bearing interest at the rate Of cent day on
the dollar. or 3.65 per cent year: and these GER
tt1cates are convertible into per cent bonds.
No charge Is to be made against the depositor
for any transaction under the BILL the object
being TO invite the deposits Of savings from the
people and to use these savings loaned to the
government for the purchase Of the per cent
bonds Of the government. @.....-
There Is bill before the New York Legisla-
ture which provides that any person who shall
knowingly sell any impure or adulterated lard
shall be punished by fine Of not less than $50
for each offense and shall be imprisoned in the
penitentiary or county jail for not less than
sixty days. or both. at the discretion of the
court Any person rendering or selling the fat
of animals that have died natural death, and
selling the same as lard is made liable to q fine
OF 5000 and three months Imprisonment. while
the addition Of water or any other liquid or
chemical preparation. except salt. to lard, or the
use Of chemicals for whitening it. is hereby de-
clared to be an aduteraton within the meaning
OF the act. Parties from the city Of New York
are endeavoring to defeat the passage of the
bill. and say that if passed it will break up
business In which 100000 are invested in that
city alone.
The history of the yield Of the Bonanza
mines-the Consolidated Virginia and Calfor-
nia-is without q parallel In the records of
mines. Ore was discovered in the Consolidated
Virginia only little more than five years ago:
in the interval 1t has produced ,554 tons of
ore. worth s55. 1854 .2Gs The California mine be-
gan to produce less than two years ago. since
which time it has turned out 1856 1859 tons, worth
$36,317 ,48o. No other mine in the country has
yielded so large sum for 80 long time as the
Consolidated Virginia. The total product of
both mines up to March 9. 1873. has been s92-
2s164s, including samples and sales of ORE
The ore of the Consolidated Virginia contains
"A per cent of gold and SC per cent Of silver and
that Of the California mine 40 per cent of gold
and 81 per cent Of silver. Taking the two mines
together. they have produced. independent of
ores and samples. 81. oo4 1915 OF gold and 49,
s2751o Of silver which is 4e per cont gold and 81
per cent silver.
The New York Chroniclesays that 1t was wor-
thy OF note. not only as an immediate result
OF the present business depression but as sug-
costing that for many years to come growth
and development" will be effected at a much
more moderate rate than heretofore. that the
complaint about diversion of trade" Is quite
general on the part of cities as well as on that
OF railroads. Four trunk lines have not bust
ness enough for two. and they lash one an
other, to see which can endure cuts the long
est; New York complains of diversion in
favor OF Boston and Of the two ports lying
SOUTH and even of Chicago on freights from
Europe; Chicago complains Of st. Louis in re-
spect to grain: Boston complains-or not long
ha nd lbopx
road. and Buffalo and other cities are anxious
lest trade leave them. Unfortunately there Is
not business enough for ALL and all are pulling
at cross purposes for it, 80 that 1t becomes ap-
parent that there is no friendship in trade, and
1t Is only those cities that give "a long pull a
strong pull and pull altogether" that will be
suffered to retain or increase their trade.
The Philadelphia Ledger reports that resump-
tion is coming along Of its own motion in
Philadelphia. 1t says:
80 near together had gold and greenbacks
arrived yesterday that in many places gold dol
lars were given out in change, when greenbacks
or national bank notes of 50 or upward were
rendered In payment for small amounts. There
was no splurge or proclamation about this. for
1t came about In a business-like way gold dol
lars being easier OF access than 81 bills. Thus
f i.se resumption on gold basis is resumins
The Boston Advertiser. in its financial col
umn, says:
The money market continues dull, and pre-
sents no features Of interest calling for com
ment. Profitable and safe, employment for
borrowing demand from responsible sources.
it continues to accumulate Notwithstanding the
prevalent low rates. The regular requirements
of trade do not seem to be increasing, and the |
good time coming" is still In the future and it's
outline SO indistinct that many who have been
holding upon their money in the hope Of using
Hfnh1 In hn nnr1 fY1k,,
gun to despair Of the anticipated starting up Of
business. and are now trying to lend even at |
the present low rates.
The Cincinnati Enquirer contains the follow
ing summary of the taxable property in the
Buckeye State:
The last report OF the State Auditor of Ohio |
states that the value of property in Ohio for |