The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-02-09
..,ercial and Financial Matters.

-..t vessels cleared yesterday with cargos
stton aggregating 2O,9S5 bales.
=. nerchants OF New York are getting
- n take advantage OF the plague In Rus
"rrisf must not interfere with profits.
BARK Imperatore Francisco Giuseppe
'ssorad Yesterday with $4,000 bushels Of
= n bulk; and the ship Minnie Irvine, for
's.rerp, with 1900 sacks and 34,l5O bushels
4 bulk) Of corn.
v..,ardav was another active one In the
IN market, and IL, 200 bales were sold. In
ssstarn produce there was an active move
'srt and the order sales were comparatively
s ,sry On the whole the past week been an
'~oroyernent on the preceding ones.
.,amendment to the postoffice appropria-
u bIll recommends the establishment of
Mamabip line between New York and Rio
,.oeiro. via Norfolk, and from New Orleans
'i,io via Galveston, with O subsidy of $780,
Wto each. ----
a The suggestion Of the joint finance COM
.,ttae Of the Virginia Legislature the repre-
ss.tatiyes OF the bondholders now In Rich
.sud have agreed to confer with their prin-
dDsIs, so as to secure an extension OF the
ana axed In the proposed bill at five years,
q which three per cent interest is to be paid.
!, .bla Modification Is secured the bill will
.,ohably be reported to the General Assem-
III with favorable recommendation.
state Consols opened at 591S, and closed
aaady ut 591t@595s, against 59ss0591s on FRI
~ Premium Bonds closed steady at 1910
~ against 25}s 9255s-showing slight de-
.l,na In both OF these securities. The sales ut
M stock Exchange footed up $3.50, 600 Of State
oooaols. and s125 900 of Premium Bonds. The
mtzide sales amounted TO $4,000 Of Consols
afrom 595s96OA, and $4,000 of Bonds at
y4G25H. --.---
The Chicago City Railway was assessed for
Inc widening OF a street on which its track
vas laid. but claimed that its interest was not
falty and hence not subject to special as
easements for Improvement. The city car
red the case to the Supreme Court OF Illinois,
which has decided that street railway COM
ospies are liable for street improvements
decision which the Chicago Railway Review
thinks establishes an important principle.
Our cotton shipments were nearly 100000
bales In 1874, In 1877 about 100000, and In
ISIS not far from 1000, 900 bales. The value OF
exports Of cotton, both raw and manufac-
tured, In 1921, In round Numbers, was $780,
10000; In 1880, s29,674 900; In 1S40 $685.
$4,000; In 1851, st12 ,315,0OO; in 1873, $780,
10000; In 1874, $214, 319, 900: in 1875, 1884,
10000, and In 1878, owing to the depreciation
in value, not far from $500, 100000. At the
present rate Of growth and development the
South will be soon be rich and prosperous be-
yond comparison.
Our Northern exchanges have great deal
Of highly moral advice to give the Southern
States and cities about the horrible evils OF
running in debt and threatening repudia-
tion," although they never allude to Mime
sofa, which has twice repudiated State bonds
amounting to $s,OOO000, or to other serious
cases Of financial recklessness In that section.
And now comes the city OF Elizabeth, N. j.,
where Grants relations live, confessing bad
case of bankruptcy. Tie city owes about
u, 000, 900, and her assets foot up less than
100000; the population is only $4,000; the
taxable property is s14,400,O0o, and the rate
Of taxation So Sc. Elizabeth Is In bad way
Memphis Is not worse.
The United States Treasury's monthly
statements are increasing in interest Among
the assets are Sl33, 756, 906 gold coin and bull
lion, S134, 365, 795 in silver coin and bullion
se2, 463, FOG In United States notes besides the
f..c In
national bank notes. These items have off
sets In part on the liability side of the state
ment but the net balance amounts to S3O4,
3O9,3o3, This whole sum belonging to the
Treasury consists Of idle currency g Id
silver, bullion, certificates and notes, being
about one third OF the total authorized supply
OF circulating money. The gross assets of tht
Treasury nre stated ut $433635, 297. The de
posits held by national bank depositors
amount to $i63, 1851, 141, the interest on which
at per cent Is 81, 635,O0O per quarter.
Some idea of the business done In the New
York money market last month may be gath
cred from the reported transactions OF tn
Stock Exchange, which aggregate In govern
ments So, 151, $50, State bonds $1,679,276, rail
way and miscellaneous stocks, 6,33S, PSI
shares. The railway and miscellaneous stocks
sold represent par value Of nearly seven hun
dred million dollars, and an actual value moi
much less than four hundred and fifty mil
lions. Besides these enormous transactions
1t must be borne In mind the government sole
about one hundred and sixty millions of pei
cents, so that the business of public record In
stocks and securities reached In aggregate
nearly five hundred and forty millions of dol
lars, without any account Of the immense
number of private transactions Of which nc
account has been made.
The Cincinnati Price Current of the sfxt
publishes the following comments on the
packing business:
A further decrease In packing operations al
the larger cities in the West, compared with
previous records for this season. and also foI
corresponding time last year. Is to be noted
for the past week. And the almost uniform
ingarior Qualify pf stock being marlya+ od