The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-05-11

ana treat quantities to New Zealand, the sand
witch Islands and Australia.
A congress OF German municipalities Is soon
to meet at Berlin for the purpose OF opposink y
the laying OF duty upon The Importation y
corn. cattle and provisions.
state Consola closed easy yesterday az A''a'g
4oZ. against 4sE@5oK on Friday. premium premium
honda were auies at 25H@26A. against 2olsg2o7s
m tha nreyious day. The sales az Inc G4cnahse
Amounted to only $4,000 II stases.
0ver .nroducfion ID The cause assigned py an
o,,tnapt british statesman for the prolonged de-
,resaton In The cotton manufacturing districts.
From 1860 10 1877 the total increase Of spindles
In the world was from At 1888. COO to 7o.aa5,ooo.
nhero ID now a new use to which iron Ia put.
n II stated that on nearly thousand miles Of
railway ia Germany, Austria. Belgium and
other countries the cross-ties and BleeDers are
of iron. and that this method of construction
will continue to develop.
In an article on the credit Of different nations.
the London Times remarks: The conversion
by the United States government OF $50 600 OIL
per cents into per cents at stroke 10 GER
tainly remarkable fact. and recalls the time
when United States Gs barely sold at half their
nominal value"
The Upper Mississippi Is lower now than In
years past, and the freight boats find II impos-
eible to 20 further north than Lacrosse. An
upper river captain reports that there were
over 600 tons OF freight discharged on the levee
which will have to be taken to Its destination by
railroad. --
In Tennessee my Uncle" Is now, from the
force OF circumstances. treated with more res
nee tand leniency by the powers that be than for
merly. The Legislature Of that State recently
passed an act reducing the tax on pawnbrokers
from $500 to 500. which. with that imposed by
the county. makes the tax altogether amount
to slso. whereas It WAS formerly s225o.
The Sales OF real estate In this city yesterday
by several auctioneers showed that there is an
improved demand for the better class Of prop
erty-that which Is we'll located and can be
readily rented. Among other buildings sold
was Moody's store. at the corner Of Canal and
Royal streets which brought s3s ,25o-a pretty
good price, considering the low figures at which
real estate is generally held at the present time.
The bill introduced on Wednesday in the
Unite d States House OF Representatives. pro
vides that In the transportation OF cattle. stock
shall be rested seven consecutive hours out of
every twenty-eight: that cattle shall not be con-
fined In cars for longer period than sixty con-
secutive hours. and that cattle trains shall have
the right OF way before all other trains except
passenger trains.
The corner made In per cent bonds by the
last immense purchase by the syndicate OF New
York and Boston bankers Ia likely to result In q
contraction OF the currency. The withdrawal
or per cent bonds compels the national banks
to substitute per cents to secure their circula-
ton. AS these per cents must be purchased
at premium from the syndicate the national
banks will reduce their circulation to the lowest
limit allowed by law.
The London Times compares the English 8
per cent consols Ut osh with the French per
cent rentes at rs and the United States Per
cents at par. to show that English credit is un-
approached IL not unappreachabe." The Times.
however, admits that the conversion by the
United States government OF ESQ. 600, 900 OF per
cents into per cents at stroke is certainly a
remarkable fact. and recalls the time when the
United States o. barely sold at half the nominal
value.
The Galveston News thus gives the sources
from which that city gathers her supplies of
the great staple:
The cotton brought to this market by the Gal
weston, Houston and Henderson Railroad was
derived from the following sources: Galveston.
Houston and San Antonio Railroad, IS $50 bales;
Texas and New Orleans Railroad. s793 bales:
Houston proper, ~. 452 bales; International and
Great Nor bern Railroad. 173 $50 bales: Houston
and Texas Central Railroad. 1928 bales; total
1884, $3.50 bales.
The receipts during the past week of sugar
footed up s43 hogsheads; rice. 1906 barrels; mo-
lasses. s21 barrels: corn In bulk 100 900 bushels
cotton seed. 10 1913 sacks. The receipts OF those
articles since the first Of September are as fol
lows: Sugar 1e7.797 hogsheads. against III, s42
for the same time last year rice 23s 800 barrels.
against I'll 1856 barrels last year molasses 772 4s4
barrels. against 310.Gl4 barrels last year: corn
In bulk 1908 $50 bushels against 942 1874 bushels
last year; cotton seed 1.o76.752 sacks. against
l76A, b57 sacks last year.
The New York Financial Chronicle has this
to say about the debt of the Southern States:
The efforts. recently renewed and more vigor-
justment Of the Southern State debts are very
promising. but their complete success Is not yet
certain ner T. The IN n n Ct the Subject
try. Here are seven states which have no flnan-
cial standing, having IN existence over $685. oO-
900 Of public Indebtedness. of some portion Of
which In the case of each State the market quo
tatiOn ID under so. In area these seven States
form about one sixth Of the United. States: In
Z ",
One-fifteenth. They produce more than one-half
the cotton crop and about % per cent OF the to
bacco; their staple crops furnish some Is per
cent OF the country's total exports; their aver
age density OF population Is 81 to the square
mile against s5 In Kentucky. 10 In Maryland,
and SO Id Vermont. If they had the same aver
age density of population as Maryland they
would have 22ooo 900; or II they had that Of thin
" settled Vermont-a State Of villages. without
any city Of considerable size-they would have
100000.
We have already noticed the report that the
London and Westminster bank had taken $685.
100000 OF the per cent United States bonds.
The present condition Of the English money
market makes such an investment an extreme
" likely one. Whether made as a permanent
placement of the funds Of the bank. or for re-
sales. the purchase is favorable one An ex-
change says: The amount Of money seeking
perfectly safe and reasonably convertible secu-
rity Ia very large In London-so large that 1t
has been recently stated on very good authority
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