The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-01-31
THE NEW ORLEANS DEMOCRAT FRIDAY, JANUARY 81, 1879

to 800, 100000. most Of which wiz Of course
find Its way into the pockets Of clflim agents
State Consols opened yesterday at 6st1 Z 0635
and closed easy at 630e3H, against 63A q
631Is on Wednesday. Premium Bonds closet
weak at 271sO275s, against 2s1S@2sA on thu
previous day. The sales at the Stock Elk
change amounted to 900 OF State Con
soils and Sl1, 900 Of Premium Bonds.
In consequence of the passage of the new
pension bill and the havoc which 1t threatens
to make upon the resources OF the national
treasury, not only has the proposed reduc.
| ton of the tobacco tax been abandoned, but
Congress is now seriously thinking Of re-es.
tablishing the tax upon incomes, In order tc
meet any possible deficit.
The Pennsylvania Legislature will have
the interesting question to decide whether
the State shall pay the losses from the Pitts
burg riots OF 1877 or not. One item of these
losses Is the bill OF the Pennsylvania Rail-
road Company for S6,OO0,OO0. Pittsburg and
| Allegheny are nearly bankrupt and can pay
nothing, and would probably repudiate the
debt, IL they were in condition TO pay.
There is now being formed In Lynn, Mass,
company OF shoemakers, who propose TO
send committee through the Southern
States to find good location In which to
start large shoe factory. Thecompany will
consist Of about one hundred shoemakers,
with their families. They will each have a
small capital to work upon, and their place oil
location will be where they receive the most
to Texas, and from there through the South
ern States.
According to the records OF the Railroad
Gazette, the casualties on the railroads Of the
United States In 1873 were smaller than In
any former year. the total accidents being
TAO In 1873 s91 In 1877 9s2 in 1876, 1901 In 1875,
$50 in 1874. and 1888 In 1873 The number Of
persons killed was 2O4 In 1878. 2i4 In 1877, 1923
In 1876, 234 in 1876 2O4 In 1874, and 276 In 1878
Over half the accidents each year resulted
! from derailments, and these were most fire.
quently occasioned by misplaced switches.
esting interview with the New York Tribune
reporter, recently printed, explains how Gen.
eral Grrnt found the funds to take Euro
pean trip: About the time he left Office he
speculated In California mining Stocks and
cleared $4,000 In gold by the operation.
This $4,000 he at once set apart to defray his
travelling expenses, and he will come back
when 1t is spent. He has been so generously
treated since he went abroad that in all prob
ability large part Of his original fund is still
unspent. He may have to stay abroad a long
time to get rid of It,
1t Is said the depression among the farmers
Is so great In England that a great many
farms, heretofore under lease from the no.
bility and landed gentry to persons having
the capital and skill to cultivate them, have
been given up, and 1t Is hard to find solvent
tenants to occupy them. In some Of the Eng
fish counties the decline Of rental from this
cause is equivalent to diminution of twenty
per cent per annum. The farming interest
has found 1t hard OF late to compete with
considerable imports from the United States
OF grain, hops, meat and live cattle It Is be-
lieved that rents must be still further re-
ducsd. or land in England will pass out of
cultivation.
The business of fire insurance in New York
State for the past year was not altogether
disastrous. By the recently published Off
cial chart Of the condition OF the State Joint
stock fire insurance companies on December
81, 1873 1t appears that while their total in
come for the year was 1921, O97, 46s, the total of
their expenses and losses was $16.571, 719.
Out Of the difference there were paid on
$25, 900 of capital stock, dividends amount
ing to about $3,OOO,0O0, leaving 81 100000 to
be added to net surplus. The year 1879 will,
however, probably result less favorably Al
ready the losses by fire in New York city
since January exceed $5,oOO.OOO, or as much
as the losses by the great fire Of 1s45, If not
more, and unless premiums should increase
and losses diminish greatly during the re-
Of the year, some weak companies OF
that State will either have to call on their
stockholders for fresh capital or 20 into
liquidation.
The Mobile Register of Wednesday, In the |
course of an article urging upon Congress to
vote aid for its much neglected harbor. pre-
sents some startling statistics regarding the |
1ecline of the commerce OF that city. On JAN
nary 7, 1860, there were In Mobile Bay sew
,nty-four ships and barks. On that day the
,otton receipts at that port for the year had
,een 400. 761 bales. Of which II, 797 bales were
shipped to New Orleans. On January 2, 1871,
here were only nineteen ships and banks
q that port, and the cotton receipts for the
'ear ending on that day had been 2O7, 699
ales, Of which s7,45a had been shipped to
Jew Orleans. In these eleven years the rail-
Dads, taking cotton eastward, had re-
uced the shipping Of Mobile to one-fourth
what 1t was before the war, and its
otton receipts had diminished more
han one-half, and New Orleans had
Dubbed it's receipts from Mobile. The Regis