The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-07-17

The New York Times insists that Secretary
Thompsons failure with the sloop-of-war
Wachusett is owing to his contumacy In dis
regarding the Times's advice to forward the
vessel to st. Louis by rail.
The cotton mills In the vicinity OF Montreal
are to employ a largely Increased force OF
hands, and an agent Is now In Lancashire
seeking workingnen and women to be sent to
Canada at the expense oil the manufacturing
companies.
On the thirtieth day of June the total
amount OF currency in circulation was 1874, :
sol 1894 70, being worth its face value In coin.
This Is about $9,o00,O00 In excess Of the pur-
chasing power Of the total outstanding cur
rency at any previous period Of American
history,
The total shipments from New York to for
egn ports il the month OF June were little
In excess Of last year, but II specie Is ex-
Guided they show a decline Of about one and
half millions. The total Of merchandise
. and produce, however, is considerably above
the corresponding figures of 1877
State Consols closed yesterday easy
at 45114@451a, against 455s@45s4 On Tues
day, with sales OF $4,000. Pre-
MUM Bonds were inactive, and closed
closed at 261sa26114, against 2602614 on the
previous day, with sales OF only $14, 600. At
New York Louisiana consols were quoted at
451Is0l451ss, with no reported sales.
The London Economist notes an advance in
American railway securities, the only ex-
ception being the Atlantic and Great Western,
the organization Of which Is the subject of
contention. The rise Is the result of the inn
proved railroad business in this country,
There Ii no more reliable index Of the state
OF general trade than the business Of the rail-
roads.
The following named gentlemen have been
appointed delegates from the New Orleans
Cotton Exchange to the National Cotton Ex-
change Convention, to be held In st. Louis on
the thirteenth Of August: John Phelps. VIM.
G. Black, VIM. A. Gwyn, John Chaffe, J. Il.
Harris, e. J. Hamilton, S. O. Thomas, Z. T..
Buckner, Thomas Fl. Hunt, VIM. Cunning
ham, ]. i. Glenny. ]. j. Stewart, L. LaCombe,
VIM. Sanchez and il. 4. Berje.
There Is such gllt Of money In London
that prime three months bills are discounted
at the rate of "a of / per cent
per annum. The posted rate OF the
Bank Of England Is kept at 2 per
cent. that figure being the lowest ever for
mally made, though the bank no longer adj
heres to the posted rate.
But two exclusively plate glass manufac-
tories exist in this country-one at New AL
bany, Ind, and the other at Lenox, Mass.
This probably arises from the fact that men
OF limited means are debarred from embark
Ing In this branch Of the business owing to
the large capital required over million dol
lars being necessary to fit up q factory with
appliances suitable for the purpose, and either
one of the houses named has from three to
four millions each invested.
It Is now proposed to introduce American
grain elevators into use in the port Of Havre,
a committee composed largely Of American
residents in France having been recently
formed for this purpose. It Is curious that
so important seaport as Havre, where
enormous quantities of grain are received
annually, should be destitute OF the simple
and wel-known method of handling grain,
such as is afforded by the ELEVATOR but this
is the fact the only mode Of transfer being
the primitive one OF carrying on mems backs,
and the grain Is left In heaps upon the quays
exposed to loss by weather and by theft
Just now considerable effort is being made
by some OF the railroads to throw off the ex-
press companies operating over their lines.
The Pennsylvania Central has announced
that after a certain date it will conduct Its
own express business over It's own and all
leased lines. 1t is stated that the Chi
cago and Alton intends deposing the United
States Express Company on the first OF Au-
gust, and after that its express business Will
be done by the new Union Express Company,
which was lately established to run On the
Louisville and Nashville Railroad Notwith-
standing the unfavorable rumors the express
companies stocks remain firm and In fact,
have an upward tendency, the Adams stocks
having gone up several cents In the last few
days
The announcement of the reduction Of
direct taxes from Is to Is per cent In Cuba
from the first instant, and that the planua-
lions will only pay per cent, is OF interest in
this country where the great bulk Of the cane
crop Is consumed Cuba's taxation burdens
are immense. For instance, a barrel Of flour
costs in the United States Sc SO, and after
paying duties, war taxes, etc. II costs the