The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-06-28
commercial and Financial Matters.

Commercial and Financial Matters.
----~~@---s $$##%B @4
In cotton circles business to-day was quiet.
4rbe market opened with moderate inquiry
and an unsettled feeling, Later, however,
M dispatches from abroad were not Of an I'm
favorable character, and the market closed
f,1ist and weak. with decline Of 1sc On all
GRADES below good middllng. Middling cot
i'm last Saturday WINS quoted at lac now 1t I'd
al 11zse. The sales during the week foot up
g775 bales against 1900 last week, and 227s the
previous week.
The cotton crop promises well throughout
the country, and prices for the new crop will |
undoubtedly open high. Dis ths supply OF Old |
stocks is considerably reduced. The worlds
vtsble supply of raw cotton Id placed ut |
1go5,3o9 bales. These figures Indicate de- |
crease Id the cotton In sight OF 2si Az bales
"a compared with the same date Of 1878, de- |
creass Of $50, 256 bales as compared with the
Ii corresponding date Of 1877, and a decrease Of
a4s.52g bales as compared with 1876.
u The receipts Of cotton since September at
all the ports up to IL m. yesterday were
D54 bales, against ,1g9, 42s bales for the
same time last year. The receipts at lew
Orleans thus far foot up 117O,1s6 bales,
against ,364, 918 to the same date last year.
The stocks at all ports amount to 193O8D
bales, against 173,72s bales last year. The
stnck Mt New Orleans is 1851 bales, against
go, 2lS last year.
AT the sheds a good business has been
transacted In sugar. The demand has been
\ active, and holders have advanced prices nc
Yfb.
Molasses has been neglected, the move
ment being confined to small lots.
AT the grain landing the stocks Of all kinds
Of breadstuffs are large. The movement
during the week has been only moderate In
consequence OF buyers holding off. There
hns been decline of IL In oats, &c In corn and
&c In bran.
The receipts OF flour from the West during
the past seven days have been 1850 barrels,
against Id, 445 barrels the previous week, and
for the month thus far there has been an In
crease of about ten thousand barrels over the
receipts for the same time last month. Dur
ing The past week prices have quietly but
steadily declined. On all grades, from strictly
choice trebles to fancies, the ,shrinkage In
value La less than on the low grades. Busi-
mess yesterday was dull and the sales were
restricted to 100 barrels, the market closing
weak.
Provisions, In q iobblng way, have moved
iairly on orders Prices dropped about 25c
4 on pork and 1ac on dry sailed shoulders dur
ing the week, but In other respects rates cur
rent In provisions generally on last Friday
have nuctuated very little. Yesterday there
was observed some improvement In the de-
mand, especially for bacon, and supplies be-
\ ing limited Of smoked sides, they were held
{ frmer at the close.
The receipts Of provisions from the West
during the week were as follows: Bulk meats
10000 pounds, against 75,5AQ pounds last
week, packed meats including bacon and
dry salt, 60 casks and 096 boxes. against 18a
casks and 564 boxes last week; pork 1856 bbls,
q gainst $500 bbls last week; hams 1877 tierces,
against s23 tierces last week; lard 600 tierces
and 800 kegs, against 904 tierces and 469 kegs
last week
The British steamer Zembo cleared yester.
day for Rouen with 30, 800 bushels Of corn ir
bulk and $500 sacks OF corn.
A few days ago the Supreme Court OF The
United States rendered q decision that en-
forces to its extreme limit the doctrine that {
State cannot tax imports. The court main
tains that d tax laid by d State on the amour
Of sales made by an auctioneer Is tax OF
the goods sold; that when the goods sold, To-
which he is required to collect and pay tax
are imported goods In the original package
sold for the importer the law authorizing tn
tar ID void, as laying o duty on Imports, AM
as a regulation OF commerce forbidden q,
sections and 10 OF article / Of the constitu
ton Of the United States.
Yesterday was another active and exciting
div in State securities. Consols opened at AZ
went up to so, receded and closed at 471a0
Az, against 465s@467s on Thursday. Las
Saturday they ruled at 4Os4@4l. showing al
advance since then Of 694. The sales durin
the week have been unDrecedently large
amounting to $2,672,5oO. In New York yer
terday Louisiana Consols opened at g, wen
up to 30, and closed ut 48l4D48a4, with sale
of $4,000.
The following shows the FLU citations OF th
market for State Consols since last friday:
June I'll 4 .o p June June 3D. 1906 ,ses4s
yune q Il, tsn@4s,s june N....-47K@47'
Premium Bonds showed no activity and p
change in prices yesterday. The sales Oh IN
class OF securities during the week 1oot u
S24800O -
The New York Tribune, OF the twent,
fourth instant, contains long and interest,"
Inc letter from Leadville. from stan CORE
spondent, designed to correct the grossl
erroneous notions which have been curre1
respecting the probable silver yield OF y
carbonate belt Of Colorado during the pre-
emit year. A very careful, and yet hnel :,
estimate Of the output for the Leadvll
camp places it at s1o,oooooo or 81 10000
instead OF $50 ooo, 900 or s4o.ooo,ooo, as RUNE
has had ii; and the output for the who
State is placed at probably $3.50 900. instet
Or the Wild figures which have been 10 circ
lation. While the development OF other 81
yer fields, whose existence is already know
will, no doubt, much Increase the colora'