The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-03-14

country. -
An order for one hundred tons OF American
iron, to be exported TO China, has just been
flled by the New York agent Of IN iron com
pany. Large quantities Of British pig are
annually sent TO China, but this is said TO be
the first American shipment Of tho kind ever
made.
Tho most remarkable case OF bankruptcy
pf the year IA that Of q gas company In Fall
River Mass The unfortunate concern was
the victim OF prodigious stealing on tho part
ri its treasurer. Even cent per cent profits
could not overcome that DRAIN but surely
nothing else could have driven q gas company
No the doors Of the insolvent court.
The Financial Chronicles list Or twenty
four Northern and Western railroads shows
The gross earnings in February o have been
s7 s, 1888, against 81, BAT 500 In February, 1873,
n gain OF $1l67. In January and February
the gross earnings were ,103, against
tG,1J2,G05 In the corresponding months OF
i 1878, d decrease OF $iG5,4i2.
The State Auditor Of Illinois, In response to
| resolution of the Legislature Is calling on
# by railroads. Enough data has already been
collected to show that the fifty-one railroads
| of the State owe no less than 81, 200 600 back
taxes, which, together with those due for the
current year, bring the total taxes yet unpaid
|up TO s2,2O0.0Oo.
The stockholders Of the Chicago, st. Louis
and New Orleans Railroad Company have
elected the following board Of directors:
IW. III. Osborn, James Emott, l.. Y. L. Ran
! dolph and Stuyvesant Fish, OF New York, J.
10. Clark and Adolph Schneider, Of New Or
| leans; W. X Dickerson and u. F. Aver, Of
Chicago; w. A. Gordon, Of Mississippi;
James Fentress and Il. ?. Neely. OF Tonnes
|see, and q. w. Paschal, Of Kentucky. Sixty
flour thousand two hundred and thirty-four
shares were represented or over three-quar-
tiers OF the entire stock of the road.
The malice or stupidity which set afioat the
report of the prevalence OF the cattle plague
lin this country has totally stopped the ship
ment OF cattle from New York. Philadelphia,
baltimore and Portland TO England. Heavy
(losses to persons who have been engaged In
this trade are unavoidable and unless the
restrictions are speedily removed the Eng
|lish meat supply will be inconveniently
Shortened, while prices In this country are
pIkely to decline. The retalatory policy Of
tMr. Evarts may be entirely iustiiiable under
The circumstances, but ii will not help the
market nor avert the losses resulting from
The foolish panic Of the British government.
EUROPEAN WHEAT SUpPLY.-Mr Thomas
e. Scott, writing to the Mark Lane Express,
bays
'The present appearance of the growing
wheat may DO beled by the result. but the
3ateness and pauCity of the plants on the
ground are by no means Indicative OF good
crop. Nor is the usual breadth sown, on ae-
count of the ungenial weather In the autumn.
Low prices. to0-about 40s per quarter In the
tiutumn, and now only 3Ss 4d-will likely be
found to have lessened the farmers desire to
Bow the usual breadth OF wheat, and caused
7 very limited area to be planted, probably
bot more than 100000 acres, as against
J, $50, 900 acres In 1878. / anticipate,
therefore, that we shall have reduced sup
ply Of both homegrown and foreign wheat
end enhanced prices during the current veal"
The quantity of grain exported from Nico-
)aieff In 1873 was more than double that OF
fny preceding year, which was chiefly owing
10 the blockade OF TIE Black sea ports during
ehe Turko- Russian war; and to the abundant |
props In the region round Nicolaief In 1877. |
About $4,000 quarters Is the estimate of the |
Quantity previously destined for Nicolaief, |
which, owing to thie blockade, was after
yards dispatched TO other ports for an outlet |
Tor export.
/ The English bankrupt law seems to have |
been even worse In its operation than the late |
United States law. The Lord Chancellor re- |
tently condemned the law, and declared that |
The vast increase Of petitions for liquidation
Ind compositions with creditors grew almost |
Entirely out Of the ease with which mon can
let rid of their liabilitisG. A measure has
|onsequently been introduced In Parliament
b reconstruct the whole business OF bank
|uptcy. It provides FOR the appointment
X chief judge In bankruptcy, wha
|hall devote his whole time to that class
II cases, have criminal Jurisdiction, and
Try persons charged with oeenses under tho |
law. A London correspondent
lays of the operation Of the law: The debtor
gil now be unable to effect q composition
With his creditors unless he Offers to pay, and
(oes pay, at least Is per centos his debt, or
I've shiilngs in the pound, and he must
AVE the consent of q majority 0 more than
|alf in number and three-fourtEs In value /
u all his creditors. Under TIE present /
|ystem il Is only necessary that ne should |
(ave that proportion and interest OF the
lersons attending a meeting OF creditors
1 he new act will also make il muea easier
p an honest bankrupt to obtain his discharge
md get clear of the court. Matters Oh Iurls-
fiction are also provided by which the Lon
ION courts will have wider jurisdiction than
|efore." It appears from Lord Chancellor
|airn's remarks. that the old English Law IS
pore unjust than that which was repealed IN
bis country last year. He said that creditors
eceiyed nothing in large number Of cases.
|nd the vast majority of the estates yielded
|nly from one to five shillings IL the pound.
ne new law proposes TO give the creditor
|hanee.
~ ever cease TO love. What? Shadines.