The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-07-27
FINANCIAL AND COMMERCIAL.
TRADE ITEMS, Ere.


TRADE ITEMS. ETC.
The gross receipts Of cotton yesterday were
small and no shipments were recorded. There
was very little inclination to operate and
holders were free sellers. The market opened
easy. and closed at decline OF sseper pound.
with sales Of $50 bales.
The position Of the future market at New
York is steady, with sales OF Sso0o bales.
while spots are quiet and easier. At Liver
pool spots we're dull and easier. with saels OF
1000 bales $500 Americana, of which 900 were
for export and speculation. Futures were
Lie cheaper. The Hayre market was dull and
depressed.
The receipts of cotton at New Orleans
since September /, foot up l.lTa6si bales.
against 1850, 2os for the same time last year.
The stock here at present is $3.50 bales
against 94ls bales at the same date last year.
OF this there are in presses, unsold or await
ing orders $3.50 bales, and on shiphoard 1893
bales: at New York the stock comprises
$3.50 bales.
There is nothing Of Importance to note at
the sugar sheds. The demand is moderate
and prices are firm.
the supplies are large, with prices ruling in
favor OF buyers.
The flour trade yesterday was extremely
dull. Buyers generally asked concessions
which holders were unwilling to grant, and
the sales were consequently restricted to as5
barrels.
In the line of provisions the demand yes
teriay was active for cut meats and bacon.
Western advices being favorable. holders
asked higher prices. and on the staples men
toned there was an advance Of 11se On dry
salt shoulders and &C on bacon. The feeling
at the close was strong at the improvement
mentioned.
one of the noteworthy signs OF the times Is
the unwonted activity In the iron trade.
Prominent iron merchants in Cincinnati say
they have experienced nothing like 1t since
the panic.
State Consols yesterday closed steady ut
sslseassll4, against 3s03si4 on Friday, with
sales of $4,000. Premium Bonds ruled at
a5as@251l8a, against 80 4a25ss on the previous
day, with sales sof $4,000, At New York
Louisiana Consols opened at 3s1iaaG39l4. and
closed at 81 s623s11.. with no sales reported.
The history of the yellow fever epidemic OF
1875, by Mr.. J. NJ. Heating, states the cost to
the country VI that visitation to be $4,000 lives
and $500, 100000 Of pecuniary loss ia one form
or another. The city of Memphis lost $50
lives out OF a population OF 10000. more than
1000 being white people.
Among other provisions the legislative bill
passed at the recent session Of Congress con-
fained an appropriation Of $4,000 for nego-
tiations with foreign governments in refer
ence to the international reconciliation Of
silver. 1t is understood that Secretary
Evarts will at once open the necessary CORE
spondence upon the subject, and II the ques-
tions at issue are favorably discussed. COM
missioners will probably be sent abroad to
operate In connection with foreign govern
ments id perfecting any plans that may seem
feasible, just and expedient.
The president OF Connecticut cutlery COM
pany has invaded Sheffield. the home Of the
edge-tool trade in England, and has engaged
100 OF its best Workmen to come with their
families to his factory in Connecticut They
are on their way, and in September will be
followed by a large number OF skilled edge
tool makers from Germany. Other Connec-
ticut workers Of iron and steel have recently
built up hourishing trade In Australia and
some other colonies OF Great Britain. These
signs OF the development OF American trade
are full Of meaning to those who are study
ing the condition of England
Throughout the Northwest the national
banks are paying four per cent interest on
deposits, and loaning at eight to ten per cent.
There ought to be no payment Of interest on
deposits, except by savings bank that make
permanent investments on undoubted Sc
curity. The Boston Post says: So long as
banks pay this per centage Of any sum, fol
the use Of money left in bank for safe-keep-
ing, they cannot make loans at rates which
business men can afford to pay. The nation
al banks will find 1t conducive to their Ion.
geyity to put a stop to the business Of buying
deposits, and to reduce their rate OF discount
for good commercial paper.
Secretary Shermans recent circular to ma.
tional banks authorizes and directs them tc
spay out on public obligations and on ad-
Eances to disbursing officers, standard silver
dollars the same as other coin or lawful money
of the United States, a full supply of such
dollars being now in the treasury" 'sTo Sc.
cure your bank a full supply" he says, "fo1
such purposes, the Treasurer OF the United
States upon receipt from you Of a certificate
stating that the sum OF $500 or any multiple
thereof has been credited to his account, will
send you free OF charges for transportation a
like amount of standard silver dollars The
tendency of this policy will be to give the
silver dollars a wider circulation and reduce
their increasing accumulation In the treasury.
The Philadelphia Record has All account OF
an Interview with Mr.. Secretary Swank, OF
the Iron and Steel Association of the United
States -, n.