The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-07-16
FINANCIAL AND COMMERCIAL.
TRADE ITEMS, ETC.

The tendency In cotton yesterday was
favorable to buyers. Holders for the most
part were anxious sellers and the deal was
fairly active at easy and irregular prices.
The sales aggregated $500 bales, of which 200
bales were sold the day previous.
At Liverpool spot cotton was reported at a
decline Of 1-16d, while futures were partially
Lied cheaper.
At the sugar sheds holders Of property en-
joyed good trade. The demand for sugar
was fair, and prices advanced 1scon all grades
Of open kettle from fully fair to choice. Very
little was done In molasses, but prices were
steady.
At the grain landing very little business
was transacted Corn was easy and oats
were lower and weak.
Flour continues dull. In the trading yes
terday the sales were limited to 99o oarrels.
Prices were steady In the high grades OF old
winter wheat, but easy on new Hour, ana on
low grades and spring wheat products.
In provisions the feeling was weak and IN
settled. except for dry sailed shoulders on the
snot Business for the entire list was dull
and prices nominal
DIR. De Wolf, presiding officer Of the health
denartrnent, of Chicago, estimates that It
world cost no less than $1,000, 900 to give that
city the cleaning which 1t really needs.
Abiding to the effect Of the yellow fever
scare at Memphis on business etc, the St.
Louis Republican OF the thirteenth states that
no Memphis packet has been Withdrawn, nor
will be without the presence Of sufficient
cause.
State Consols showed an improvement yes
terday, closing firm at 455sD45s4, against 45@
45X on Monday, with sales OF 100000. Pre-
MUM Bonds advance &c, closing at 26@26A,
against 257s@26L on the previous day, with
only a sale of $4,000. July coupons on $4,000
Of State Consols were sold at 30.
The daily reports of the Commissioner Of
Internal Revenue show that on one day, April
80, there were sold tobacco stamps to the
value Of about 81, 25o, 900, and that the sale of
stamps for May and June exceeded the sales
for the same months Of the preceding year BY
about $5,000,000.
Our valued contemporary, the st. Louis
Journal OF Commerce, finds cause Of citation
In the fact, and calls upon shippers to make a
note OF 1t, that the first bale Of new cotton re-
ceiyed this year at New Orleans brought only
fifteen cents per pound. while the first bale at
st. Louis, received on the same day, July 7,
brought twenty three cents per pound.
The New York Financial Chronicle, OF the
10 Instant, says: There has been little doing
In State bonds, and the Southern list Is gen.
orally dull. Louisiana consols have again
declined, although one-half the July coupon
Is paid in New Orleans, but the prospect OF
satisfactory rate Of taxation Is not very
cheering, and voting to pay interest without
voting taxes is a barren sort of honesty"
According to the New York Chronicle, the
visible supply of cotton was 1,453O83 bales
on the evening of the eleventh instant.
These figures indicate decrease in the cot
ton tn sight OF 1877, 280 bales as compared with
the same date Of 1873, a decrease OF 1918
bales as compared with the corresponding
date of 1877, and decrease Of s65, 159 bales as
compared with 1876. =#
Since the tax on tobacco was lowered the
revenue from this source has increased. It is
an axiom In the English Parliament, but not
In Congress, that low taxes produce increased
revenue The reason of this is obvious; people
gle to avoid paying high tax, and besides a
small tax Is favorable to increased consump-
ton.
The st. Louis Republican says: Cali the
Mississippi river cities should quarantine
against Conway's steamboat expedition for
enticing negroes from the cotton fields and
sugar plantations and transferring them to
I'm In ho ~
yellow fever this season will be nothing COM
pared with the ravages Of Conway If he Is
permitted to carry out his mischievous de-
sign OF running the Southern planters Of the
Mississippi valley.
The Secretary Of the Treasury Is reported
to have decided that the silver dollar cannot
be received on account Of the per cent re-
: demption fund from national banks. One
portion Of the law provides that this fund
shall consist Of lawful money. Another re-
quires that redemption shall be made In legal
tenders. It is on the basis or this latter pro-
vision, doubtless, that Secretary Sherman
rules that the silver dollar shall not be per-
mitted to constitute part of that fund.
The Russians have figured UP the cost Of
their late war with Turkey, and find that their
e1peh..ti.res were about $3.50, 1000, 900. This Is
a smaiie atsn unt than most people would
have SUPPOSE But it is a good stiff debt for
q bankrupt esY1nBry to shoulder. The number
OF deaths Of %4sstan soldiers during the cam
paign Is ot1le't," stated at 100000 large
army. RUSS 4ot realize sufficient ad-
vantage to comp 3,@se for such awful slaugh-
ter.
In an article on the recent New York wheat
market and the causes stimulating the high
price and active shipping movement, the
Commercial Bulletin OF that city states that
a Leading operator on Change, when ques-
toned as to the advance. said it was undoubt- |
eddy owing to the unfavorable crop advices
from Eurone, and that the value Of all kinds