The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-09-25
THE NEW ORLEANS DEMoORAT THURSDAY sEPrEMB 25

THE Me-
In 1878, making an increase OF 45,sso, 47e gal
Ions, which Ia equal to about "a per cent. The
number Of producing wells In the Pennsylva-
MIA oil fields on August 81, 1879, was 11,585,
against gsg4 Sor the same time In 1873. max
ing an increase Of 1701, which is equal to
about II per cent.
Az an operator on Will street, DAM Drew,
whose death was recently announced was
rand. bold and successful. His connection
with the Erie Railroad, guaranteeing the
naner Of that company to the amount Of
nearly So, 600, 900, shows the magnitude OF his
transactions. In 1857, as treasurer OF the
company. bis own paper, Endorsed by Wander
bIlt to the amount Of S1,5OOo00, saved the
Erie from bankruptcy. During that year OF
commercial disaster his losses were very
greet, but Ne never flnched, met his paper
promptly and during that crisis, to use his
own words never lost on hours sleep. From
the year when he went into business as a
cattle drover, until few years ago,
Mr.. Drew may be said to have
been a successful man. It was bis
career In Wall street that made him more
conspicuous than anything else In bis history,
Notwithstanding his connection with the
magnificent Hudson river boats, and his mn-
niticent endowments OF the Methodist
churches and theological semnarles and
schools. He was over thirty years In Wall
street. and at one time ruled the street. His
business sagacity seemed to be somewhat i'm
| paired In his latter years, for he went into OPP
eratlons in which he could not get q RESPONSE
BILE following. Perhaps one Of his severest
Losses was In bis encounter with Jay Gould
aud Horace I. Clark, In Northwestern, when
| his opponents ''cornered him, and took
about S75O,OOO from him. When Ia the height
oY his prosperity tho wealth of Drew was O.
tmated by some persons at s. 900 900, and by
others ut s15, 100000 Uncle Daniel. as he was
Familiarity called In the street. was tho oldest
looking man that ever lived III tho furry Of
Wall street, and entirely paternal and benign
In voice and aspect. The rest Of the street
was to him always "the boys
In 1s47, when the development OF railway
business was still In It's Infancy on the Ell-
ropean continent and lines existed only be-
tween the great national capitals the dlrec-
tors Of the German railways formed an Assoc
citation for the purpose Of establishing perfect
harmony In the adminisl ration OF their re-
spective lines. In 1860 this association com
prsed representatives for thirty-seven Ilnes;
In 1873 for 10, the Austro-Hungarian, Italian,
Dutch and Scandinavian railways having
joined In, and 1t has worked with great SUCCESS
To the benefit both Of the companies and
the pubic. In several cases 1t has
: acted as mediator between rival lines
and prevented an outbreak OF that cut
throat competition which generally Is ruin
; Gus to The companies and detrimental
: to tho public. 1t ID also due to Its efforts
that d freight car con now be rolled from the
EouthprmOst point of Italy to the northern
most point Of JutIand without unloading. 1t
, seems, however, that the benifcent activity Of
! this association must now come to sudden
stop. In Prussia tho State owns the greater
part or the railways Of the country and nego-
d tations are carried on to buy up the rest.
Thus the Prussan State would become by far
the most important member Of tho associa-
; tlon, but just at this moment the directors Of
l the Prussian State lines have received orders
from the Prussan government to leave the
: association. The reason for this order is not
exactly known, but it's despotic character IL
, fully appreciated In Germany. and even people
who are used to feed on admiration Of Primes
Bismarck begin to regard him as q spirit OF
! disturbance.
! The London Economist has lately compiled
I u statement OF the amount or coin on hand In
s some OF the more prominent repositories OF
: tho world, from which we gather the follow
Ing facts. The United States treasury has
S136,50O 900 In gold coin and bullion. In silver
dollars, over $50, 0O0,0O0 In other silver coin,
over So, 100000. In silver bullion over S5,00o,-
= 600. Including fractions, the entire sum In
coin and bullion held by the United States Is
S1St 900 900. or In English money over E35, 00o,-
600. Tbs Bank Of England has little over
{ G35, 100000. The Bank OF France has over
1 gs9.OOOoOO. The Bank Of Germany over e27,
+ 100000. The Bank Of Austro- Hungary over
: 1i2,OOOoO0. The Bank OF Belgium over
Y GA 100000. The Swiss Concordat over Gl5,-
t 100000. The New York associated banks over
\ G4,oOO,OO0. The total sum in The banks named
y Ii C1S9 936 600, against the sum OF lG59S3 O0D
:, In July, 1878 Inc coin and bullion known to
b exist In civilized countries rs shown by the
! Economists figures above, may therefore be
!, roughly estimated rs follows, In British
: money:
+ United States treasury. ............ sa5. ooo
k Bhnks as enumerated ----.-...:. 199. 936,eOo
!, Banks not enumerated and countries =,
not mentioned ACKNOWLEDGEMENTS. b0Whahp
: Total Observation-Disclosures, STA 1856. COO
In making up the estimate OF banks and
: countries not estimated, tho Economist hhf
It Included the actual coin on hand in all other
9 banks in Great Britain and Ireland not
: branches 81 the Bank Of England, also
French, German, Austro-Hungary, Spanish
: Portuguese, Italian. Russian and other
countries, all the English colonies and the Ia
dian empire and the banks OF the Pacific
T States. The estimate. however, 70 not intend
j ed to include the coin In private hands.
! THE NJ. X. AND p.--[St. Louis Exchange T.
8 From weil-iuformed railroad official VINO
Il left Boston on Tuesday and arrived here yes
|, tertay, it Is learned that the Missouri, Kansas
:, and Texas Railway, from present appear