The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-10-19
FINANCIAL AND COMMERCIAL.


market closed easy with sales Of 1900 bales. Ihe
nat receipts III New Orleans to date loot up
liz ats bales against 81 ag9 ut the same tne ls'
year. The receipts ut oil the United e.'Ae1
norts are 7ss elp bRos. against 6aoolo pales go
year. A. a.a,a,,
AT New York the cotton market was eteauy !,
with sales Of 767 bale'. with GOO pales ue''ya1"'
on contracts. Futures declined 70 - po4ANP'
elrain q weak. with sales Of 900 bhes. Ne,
s,,ta r ,yarnoo, cotton market was steady. with
aales of 1000 baes of which 1900 were Amor ,u,in
and 500 bales for export and specuiatloh .no
reeeints AZ that port were 1850 bales I'll o, Wpion
.~ara American. Tho Iavre cotton Market WA
arm. with d moderate demand; ana the breMeh
market WINS flrm.
Tho aonr market auieted down yesterday.
Under n belief that a position hau peeh teaoheu
where further advanos WINS not 10 De eXpeoe'u'
a,uvers retired, nad although prices were maih-
eatrad atoadv nt previous quotations. the sales
were restricted to 642 barrels.
Provisions were In moderate request yester-
day. Mess pork. bneon ind cut meats were hrh
and closed with an advance on bacon. othor pro-
ducts OF the hog being generally helu hiRne.
The advance on bacon shoulders was fully -
from 4H@bs. with some sales stbSc per pouno
Htate Conaolg showed slight advance Voster-
day. closing steadv ut 4bH@t5a. ngalhst 80
4ts on Friday, with sales Of $4,000. premium
Ronds ruled at am @2sk. against 2s1sw2sa on
the previous day. with sales OF ssb,9so
From the circular OF Messrs q. Fl. Lawrence
n 90. we learn TIM the receipts Oh butter dur
.nr the week amounted w ots packages. againet
s2as packapos Tbs previous week: OF cheese.
1000 boxes, against oar boxes the previous week.
A London dispatch announces furtner ho-
$T,v,t In
and IL ii added that tha orders now on hand tor
Iron and steel NJ SUN lent to maintain ACTIVITY
throughout the entire winter Evidently the
business boom Ia renching England.
PATIENTS Tho report Of the Patent Office for
the Inst fiscal year would indicate that the IN
ventiye genius Of the everlasting Yankee 10 Sill
on the alert. Thore were 1890 applications re-
ceiyed, 2GT4 cavents isd. and 1916 patents
granted. The receipts " the Office for the year
were sTOs.146.
The banks in Now York city held twenty-one
millions of specie ON the first Of January. ana
hold twenty millions now. while at both dates
their reserve III legal tenders WINS ut Just about
the same figure or not far from forty m1ltlohS.
or this forty millione. probably about twenty
four millions Ia mt present 10 tho form q ccr'
tiflcates OF deposit
ErTrNa The Wild speculation In stocks which
now charaeterige Wall street IL Indicated by the
fnet that the transactions average about S4o,aoo-
600 a day and that not one-fourth OF the compa-
MES which are represented Ill tho stocks SOLO
md bought are now paying dividends. rms
sort OF baloontng must sooner or later col
lapse dIsastrousiy to somebody. 4&< at-,a5
BoaToN BANKs-'rhe sixty v one national banks
Nf II N
abo. 900 and IN aggregate surplus q ~ .oes'2A.
the latter being not quite 70 per cent 81 the cap
ital. Since tho last return they have incronsod
their surplus $40 s43. The most prominent In
crease IL that Or the Maverick Bank. which has
doubled ita reserves since tho last chl'. and now
holds 100000. an amount ednu 70 ~ chpltai
stock.
ONE CAusr-The New York World says that
one cause for tho great advance and huoyancy
In stocks has not received tho attention u
should; that 10. the denlnnd fur small or en-
barrassed railroads to torn LINKS Ia the great
railroad systems Of tha country. II then goes
on TO name dozen Of these small NJ omhar-
rasRed roads" conc uding thus: ~ II \ time
OF reconstruction. aud manya railroad whose
frat construction was premature. or whose
management led It into bankruptcy. has THIS
year been eagerly sought. for now PURPOSES
and at prices which Ind fallen below intrinsic
value" -
We have already announced that tho share
holders OF the Chicago. 81. Louis and New Or
leans Railroad Company OF u meeting hslh lust
Menday resolved TINT the change Id the gauge
or the road to four feet eight and half inches.
should be made no us to conform to the stnnd-
ard OF the roads north Of the Ohio river. They
also decided to reduce the grades 80 as to admit
of the running OF trains OF at least twenty. five
cars each over the entire length or tho road:
md To devote the net earnings OF the road Tor
1879 and 1880. over and above the interest
charges, to this purpose. and. Il necessary. 70
sell 100000 OF the companys first mortgage
bonds at not less than par. GklFa
The comparative receipts OF produce from
the interior In most articles chow large In
crease, Notwithstanding the disadvantages this
city has had to labor under from quarantine.
low water etc. OF wheat In bulk, we have re-
ceiyed thus far o2s,7l6 bushels. against ,363
last year Of corn. In sacks. 1886. against TO- l39
last year; OF -four Tl,s75 barrels, against 65 AS1
last year: OF hay. 1000 bales. against 1881 last
year; or bulk ments sG5,1t1 pounds. against
$4,000 last year: cotton seed. sacks. 10000
against 6.476 last year; Of butter $3.50 frkins.
against s7as last year: cheese 6s57 boxes. against
year; oats 2a.94o sacks. against 1892 last year:
rice s2Tso barrels and sacks against .1l8 last
rear: pork &ois barrels. against 9145 last year;
tobacco $40 hogsheads. against l24 last year:
bacon, casks and hogsheads. 14l2, against 1sts
last year bac N. In boxes 1884 against STAG last
year; whisky ssl2 barrels. against 2tso last year:
cotton net receipts 1ls.ais bales. against 1880
bales for the same time last year.
The New York World. after reclting the
causes which made an advance In railroad
stocks legitimate. says:
With all known causes for Improvement.
however. the general advance N stocks has
been % great that one may well be afraid Of
sharp reaction in the market. No serious at
tempt has been made TO realiza profits: no
scheme OF railroad c,mhinati n has met with
hurtfnl interfereuce the supply OF gold from
abroad has not ceas ed railroAd earnings still
come in satisfactorily. But suppose change
In any OF these respects and there are already
reasons for doubling whether the arrivals OF