The New Orleans daily Democrat., 1878-10-31

enrnuerciaI and Financial Matters.
xuo are Informed by Collector Smith that
after tbe first of November, the customs offices
al, This port will be open from q. III. until
4p.m. -
Some 400 small illicit distilers In the noun
tains Of North Carolina have promised, il the
government will relieve them from prosecution
fo refrain from all violations Of the revenue
laws In future.
state Consols we're quoted at 741s0175h,
AGAINST 750175A on Tuesday. Premium Bonds
r,1Ded nj 295612976, against 292401291gg on the
nrevio,,s day. The sales at the Exchange
were: $4,000 State Consols at Is, and $4,000
of Premium Bonds at 20M.
New York banker, said to be "promi-
nent," brings the assurance from London
that the governor Of the Bank OF England
and the head of the London house OF Roth
schlds are of the opinion that the depreca-
lion OF silver will be but temporary.
Mr.. Hester, the secretary Of the Cotton
Exchange. received yesterday, through the
German Consul ut this port Hamburg's
Handel und Schffarht for 1877 This is o
comprehensive compilation OF the trade OF
Hamburg, and is admirably arranged ana
neatly printed --
The New York Graphic points out that the
prostration of the iron industry OF England Is
SO great that 500 blast furnaces and over 5000
pudding furnaces are now idle, and that the
probability is the majority Of them will never
resume work, owing to the loss OF markets
and change In modes Of manufactures
The cotton receipts OF Selma, Ala, have
largely increased this season. They were for
the last week 52G7 bales, against A482 bales
for the same week last season. Total receipts
to date are 29, ,334 bales, against l8257 bales to
same date last season, showing an Increase OF
more than 10000 bales.
The growth of wooden manufacturing In
this country may be learned from the fact
that in 1910 the products OF our wOOlen faCtO-
res amounted to $40, $40 900, while in 1870 they
reached the enormous aggregate of $155, 1885,
900, and this exclusive of worsted carpets and
hosiery. which amounted to $43, 100000.
A striking instance of the business reverses
In Hartford, Conn. Is the fact that OF six In
dorsers on q note of $4,000, made by a we'll
known manufacturing concern there O lew
years ago, every one has since been in bank
ruptcy, although the bank deemed each one
good for the whole amount when the note was
made.
Prussia has been compelled to negotiate
another loan Of 60,OOO000 marks, and Is able
to get it at per cent, Prussia, like all the
other States of the German empire since the
Inauguration Of tho military regime, has been
taking out of her financial barrel a great deal
faster than she has been putting in, and may
possibly reach the bottom OF the receptacle
some day.
Attorney General Devens has Overruled g
former opinion from the Department OF JUS
tice to the effect that national banks in max
ing up capital subject to duty, may be per-
mitted to deduct United States bonds at thei
face value, and now decides they may deduct
the amount invested In such bonds, not only
the face value but the premium added. 1t is
said by treasury officials that these decisions
will reopen some fifty thousand assessments
made by the treasurer since the passage OF
the national bank act and considerable
money will be required to refund erroneous
duties collected from the banks undor pre-
yious rulings.
The Mediterranean fruit trade Is about to
take In Philadelphia as distributing point
10. t,, III, frt,n Hpnn nf
steamships with New York connections) to
arrive there every ten days. These vessels
will start from the Grecian islands with cur
rants, coll at Sicily for oranges, Malaga for
raisins and other points for fruits to complete
their cargoes. The British steamer Carudoe,
now on her way to Philadelphia, will be the
pioneer ship. This foreign fruit trade within
the few years past has assumed immense pro-
portions, and there appears to be scarcely
any limit to its further development.
According to the Railroad Gazette railroad
property is not profitable now, nor are the
prospects good for itin the near future ltsaye
that the lines which depend mainly on through
traffic lost rather than gained on through
traffic eastward until the middle of August
and that the heavy business eince that time
has been at such low rates that the margin o.
profit has been small. "This condition o
affairs, II no remedy is devised, Is expected tt
cause the bankruptcy of some OF the lines
The likelihood Of such an event is viewed as
the true national peril. But it Is probable
that combination among the railroad com
panes to put up prices will avert the dan
ger"
A Glasgow newspaper has printed the mel
ancholy list of the stockholders In tho city
bank that recently failed 1t takes over si2
columns to contain the entire list. Many o
them are women, not few oergymen, and 1
large number of school teachers. Only thos
who owned at least $1,000 of stock could b.