The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-26


The New York Herald Of Saturday last re-
ports that the bankers claim that the recent
temporary suspension OF the New Orleans
banks, and the withdrawal OF $l;5O0,000 from
New York banks, will be Of benefit to that
city, becauseit will reduce proportionately
the legal tender reserve, and banks will be
thus enabled to claim and obtain astffer In
terest on called loans.
Last year our country produced one OF the
largest wheat crops that was ever known;
and last fall much greater breadth Of land
was sown TO wheat than usual, and up to this
date the prospect is good for another very
fine crop. Ii the present years yield shall
equal or surpass that Of last year these two
magnificent wheat crops will go a great way
In placing Western farmers on their feet again
and In setting the wheels Of commerce and
manufactures everywhere In motion.
A Southern letter to the New York Tribune
reviews the public career and enumerates
the many private virtues OF Mr.. Albert Gott-
hemer, better known as Albert Grant, who
energies from long course of splendid specu-
latioD with $4,OOO,0OO Of debts and less than
100000 OF assets. Like other conscientious
operators OF this kind, Baron Grant Is piously
certain that he has done no man any wrong,
and Is more deeply concerned about the
preservation of his reputation than about the
interest OF his creditors
Speaking Of the movement of grain and the
cut rate established by the railroads running
to the Eastern seaboard, the st. Louis Repub-
Nf4 no, ,tx,t trl meta AZ
IL is an admitted fact that the price OF wheat
and corn obtaining In this market for some
time past precluded any shipping movement
OF them to Eastern exporting markets, but
the cut rate afforded the opportunity. and
shippers here began TO avail themselves OF 1t,
and large purchases have recently been made
both of wheat and corn for New York, and
contracts with railroad lines for cars for the
purpose, and considerable movement of this
kind is going forward; but whether it
can continue remains 10 be seen. 1t
Is understood that 900 cars have been
contracted for for this purpose and that 125, 900
bushels of wheat and enough corn to occupy
them are In process OF moving eastward; but
engagements Of corn for this direction are
known to be largely beyond the capacity OF
this number OF cars, aud the question Is,
whether contracts made for the amount will
be so recognized by the railroad companies as
to enable the transportation. 1t might be
supposed that q contract OF this kind would
Ut niuuiiiR, bub Ottl5, tullbhlsk
the bond, may reply that they cannot supply
the cars, and what is to be doEe In the caseP
Ii Is doubtful that they will do 50 In this in
stance, and If they do not the grain purchased
must revert again upon our market. The re-
port Is, that besides the 125,000 bushels of
wheat which will undoubtedly go forward
on the 15c rate, and the corn to occupy the
balance Of the cars, engagements as high
as 100000 bushels of the latter have been made
for Eastern shipment, while 1t Is known that
ChnIu 10 lrpin ar DIV form
ment but what the result will be only next
week can determine. Yesterday 40, 900 bushels
OF wheat were purchased Tor shipment, and
altogether could the rate OF fifteen cents be
continued, there would have ensued an extern
siye and unprecedented movement OF grain TO
the Eastern seaboard from this point. There
will be a continued movement Of wheat by
river TO New Orleans for foreign export but
corn cannot go that way at present market
values here. One fact Is demonstrated, that,
given a liberal railroad rate to the seaboard
DY rail and river, there Is enterprise and cap
ltal enough here among our grain merchants
10 move large amounts to exporting markets.
The Cincinnati Enquirer OF Saturday last
has the following cheerful article concerning
the business outlook:
from all directions comes the cheering in
formatlon that the tide has turned In this
country, and that the future prospect for All
classes Is brighter. Merchants, manufacture
ers, producers, miners, In fact all the am
ployers 81 labor, report better times-more
demand, petter collections, larger sales and
all items that go to increase business. This
certainly requires more EMPLOYEES. skilled
and unSkilled, and better paw. The iata
familiar and perhaps too FREQUENT crv ~
economy and hard times Is gradually bnt
surely being dropped and Ia their place ySe
hear the more cheerful statement OF mora
work and busy times.
The published statements, carefully MI, |
lected and reported trustworthy by those who
have given this important subject their time
and that local and national prosperity ia
again on the up grade. One OF the surest
tests Is that OF money. From the financial
reports we notice better demand for money
for legitimate business purposes, and liz our
judgment this will become more urgent as
the values of commercial property advance.
Our commercial reports from all the leading
cotton markets quote cotton strong and firm
holders asking and obtaining an advance In
prices.
The grain markets are active with large
and increasing TRANSACTIONS In wheat and corn.
stimulated. no doubt, by the advices from
abroad, notably the English markets, which
are quoted active with increased demand
The reliable reports Of the Mark Lane Ex-
press say: The generally improved state OF
are upheld by Legitimate action Of supply
and demand, untrammeled by fictitious sup
port OF speculative enterprise"
The quantities OF wheat abroad will and do
now justify purchases In this country for ex-
port
The provision markets In the principal
cities continue active, with increased demand
lor consumption.
In the dry goods market report OF New
ork we find: The jobbing trade continues
active IN nearly all departments"
Inc market for groceries has the following
as Inc general item: Tea, manifest better
Ieellng among importers and dealers, with an
advance In prices, with large speculative pur-
Chases. For sugar. molasses and coffee a
comIinued good demand. and prices favor
= Inc produce Of the mines, notably iron, is