The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-09-18

will show d decrease Uf over II 900 tons, while
the falling OIL Id Missouri from various causes
will be about 1000 tons. Colorado will show
nm increase OF 10, 600 tons. This estimate shows
d falling off In the supply Of $4,000 tons as
against last years output II the increased
demand should reach, as ID estimated, 10000
to $4,000 tons, the market will be short at
least 30, 600 to $4,000 TONS
The mercantile fleet oil the Kingdom Of
Norway IL second only TO that Of Great
Britain, comprising last year s0G4 vessels, of
nearly one and half million tons burden. OF
these Att vessels were owned by cities and
the larger shipping and fishing places. while
1897 were owned by country districts. The
large number Of vessels owned In the country
Is explained by the fact that In Norway ship
buildin4is tho most common, II not the only
| form OF Investment, aud instead OF putting
their money into banks, the Inhabitants Oh
village Of county pool their savings and build
q brig or ship
A New York private banking circular says
HThere la every appearance 81 the market
| selling down at per cent on miscellaneous
loans and on mercantile paper, and per
cent On government collateral; the large al
rivals Of foreign gold, which is Immediately
exchanged for greenbacks at the treasury
| might lead TO a more sangulne calculation on
the future of the money market, but against
this a.e, first, the unusually large amount OF
greenbacks going Into the treasury for cus-
toms, and secondly, by the orders for cur
rency To 20 West, and soon to go In even
] larger sums To the cotton ports Of the South.
The banks here are indifferently supplied
i with national bank notes, and are forced to
Use legal tenders In filling the orders upon
them for currency
! Manchester is trying to produce cotton
goods cheaper than ever before. She ls cutting
down wages and applying all the economies
she can devise Upon this effort and upon
the success Of our own manufacturers In resis-
ting any upward tendency to higher wages
| Or higher prices, depends the future Of the
export trade Of this country In cotton goods.
| This trade Ia strictly as yet oil experiment.
Two hundred and fifty Thousand spindles
were set up In this country alone during the
year Just closed, making the total number
lo,75o,oOO and II is we'll known that Russia is
largely adding to her manufacturing ca
paclty. The probability ls. that the whole
UutHUeI Vi EpiuuieS lS CUBsiutIuDi4 III bANssrS
Of whet present consumption demands. but
the worlds consumption 10 increasing at the
rate Of five per cent year.
Concerning the latest bank defaIcation,
there does not appear to be any mystery rs
to the disposition made o7 tho stolen funds
The cuinrit. Keene, of Minneapolis. was a
Speculation In wheat and an assistant cashier
at the same time. He IL short about 1926 300.
and the stockholders Of the concern which
employed him are contemplating with
anything but serenity the inevitable ASSESS
ment by which the capital Of the bank will be
made good. Keene's steallngs have been In
progress more than a year, during which
time committee Of directors have once ex-
amined his books and counted the money "a
hand. The cash "came out right" because
the directors aecommodatingly took Keenes
word az to the contents of several packages
now found to have been stuffed" The I'm
fortunate epeculator 10 appropriately de-
pressed by the discovery OF his dishonesty
and manfests willingness to go to prison,
which, under the circumstances, ls very con-
selling to his friends and relatives. Until
| bank directors adopt more rigid methods of
investigation and put them In practice with
greater frequency than is now thought neces-
sary, the men whose interests they are sup
posed to guard can not be 50 unreasonable as
! to marvel at an occasional robbery.
/ Although but little over o year old, Lead
willie, the centre of the business population
for tho new mining district In Colorado con-
taips already over ten thousand inhabitants
whilst working In the mines or prospecting
among the hills there Ia said to be eight thou
sand people more, who look to Leadville for
their supplies. This mountain town, or rather
mining camp, for, built up Of I'LL sorts Of rude
/ structures hastily imDrOvised, 1t can scarcely
yet be called q town, lies In the midst of the
mnuntains 800 feet above sea level. These
mountains are said to TEEN with argentifer-
Gus galena (silver mixed with Lead and with
carbonates Of silver. They are already honey
combed around Leadville, with holes and
shafts opened by prospectors and subsequent
~ abandoned but sixty mines are paying well
and some of them are turning out ore which
Is represented to be enormously rich In silver.
The value OF yield OF silver up to August |,
1879, is put ut ten millions Of dollars, but with
the force now at work the product IL estimated
at million and q half OF dollars per month
Three railroads are already pushing toward
Leadvile and one has gotten within thirty
miles Of 1t. All the mountains not yet ex-
plored are supposed to be equally rich in sill
ver but the climate Is so cold that the warm
est underclothing and an overcoat are needed
every day In the year, and the air IL so rarified
that only robust persons can breathe 1t with
impunity.
In the course Of an article on the cotton
interests OF st. Louis, the Journal OF Com
merce Of that city gives the following inter-
esting facts:
Two cotton mills are In active operation
and other are contemplated. The cotton COM
press warehouses represent an Investment or
ST 100000, having storage-room for over 300
5000 bales daily. The cotton exchange is d
distinct branch Of commerce, embraces all
the dealers OF cotton In the city, represents