The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-08
'tect every holder of the bonds.

The question liz very fairly put why Con-
gress should discriminate against silver min
ing when It discriminateB Ia favor OF copper
mining By laying duty u five cents per
pound on the commodity value OF copper In
London, thus enabling single well-known
company to make 81, 2oo, 900 last year In diyi-
dends.
The New York Financial Chronicle does not
think there will be q decline In the premium
Of A par cent bonds when the syndicate have
sold out entirely and are no longer Interested
tations will not tall, It makes some Interest,"
ing statements about the amount of these
bonds held BY spectators. II says:
We have during the week inquired of some
of our leading bank officers. who always loan
largely on United States securities, and the
evidence they Oil give ig that they are having
very limited offerings Of 4 per cents as sec,1ri-
ty for loans. The banks are carrying the $40
certificates In large amounts, and must con-
tinue to DO e. until July when the calls mature
bonds they are not carrying, and there are
but few On the street. In q word, II is o re-
narkahle circumstance Of this very remark.
able negotiation that the per cents as issued
have gone directly into tho hands Of invest
OEBS AlM LII I'LL tllG uk1GUks6IOu6 W1tu I0&SHIu W.
the future staining OF these securities, that,
at least, will have To be admitted.
THE UorroN TRADE sPEcULATIoN.--T There
has been decided bull" tone to the cotton
market since May. /, and members Of the
Cotton Exchange who for three years have
complained OF The dizziness OF trade are look
Ing hopefully toward O revival OF business.
Last October cotton reached its lowest QUOTA
tIon Since 1850, when " was sold as low rs 81.
vaneed until In the latter part Of April 1t was
quoted Ut II cents b pound. It has risen dur
Ing this month over 2 cents o pound, and
brokers have refused offers at an advance
upon the prices paid, believing that the mar
cotton has advanced forty points, or 4o-1oo 81
d cent d pound, and then the greatest excite
ment prevailed On Thursday August cotton
rose from - S-10O to 10 32-1O0 cents pound,
md when Liverpool advfces were received
the members responded with hearty cheers.
When asked for the cause OF the rise In this
market, the merchants replied that 1t was due
10 the reports ct the deficiency In the visible
supply and demand expected from Europe.
Although the prices went up here, there
which Is generally affected by b rise lii the
American markets, until Thursday. II is as
serted BY some dealers that the speculation is
carried on by q New York clique, members oil
Tho Cotton Exchanges, who can control the
market. Tt has also been rumored that james
r. Keene Is specializing in cotton as we'll as In
provisions and grain. This rumor IL posi-
lively, denied by persons claiming to have
knowledge on the subject and Mr.. Keene's
friends do not believe that he lis dealing tn
,otton. Wagers were freely made on Thurs
lay that spot" cotton would sell here for
before the first Of November ut la
tents, and at Liverpool OF I'D. The trans
actions Ia cotton since this speculative move.
ment began have been unusually heavy, and
since May ~ the sales OF futures" have been
about 1,6OO, 900 bales N. Y. Tribune, June 8.