The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1879-07-30
FINANCIAL AND COMMERCIAL.

FINANCIAL AND COMMERCIAL.
TRADE ITEMS, ETC.
On the cotton side Of town yesterday bust.
ness was stagnant. No inducements could
under the circumstances be offered to get
buyers to enter the market, and Tuesday be-
ing day remarkable In the history OF the
cotton market for du,lness, therefore it is not
very surprising that no sales were effected
The reports from abroad were Of d favorable
character. Liverpool ruled firm, while futures
at New York closed steady. At Liverpool the
sales were 8oo0 bales lAmerican 65OO), OF
which 1000 we're for export and speculation.
Futures were 1-32d better, the market closing
steady New York spot ruled 1-16c higher,
with sales Of 1856 bales.
Thestoek OF cotton at present In New Or
leans IL 1888 bales, against 1923 at the same
date last yesr. OF this 5161 bales are IN the
presses, unsold and awaiting orders, and 1892
bales on shfpboard. The stock at New YORK
comprises 92,621 bales.
The demand for sweets yesterday was fair,
especially for open kettle sugars, 1or when
prices ruled firm. Molasses was without
change the market ruling steady
A little better demand prevailed Tor grain,
but the movement was moderate The stocks
.of alI kinds Of feedstuffs are fair, and prices
are ruling ii buyers favor.
There was moderate movement In flour
yesterday. The sales comprised 1000 barrel-
bags for export to London and 1850 barrels to
the local trade and on country orders. The
H. fbn iy4c Ia
only 2o80 barrels. The feeling is quiet and
the market ID easy to buyers.
Except In the jobbing and order trade there
was very little done In provisions yesterday.
Round lots appear to have been unstable,
yet the tone Of the market was very steady
on spot goods The supply 10 fair, but not
excessive, and since 1t Is not likely the re-
ceipts from the West will continue as liberal
as heretofore, holders anticipate steady, II
not advancing, prices.
The quotation OF the New Orleans Mint for
silver bullion Is now 81 II Clio per ounce fine.
Raw sugars have further advanced In New
York. and show much firmness, under the In
nuence OF the late order from the Treasury
Department In regard to the classification.
There has been great coal rise In the Ohio
river at Plttsburg, which will let out the
largest runsof coal on record. 1t is reported
that the fleet was to have commenced moving
on Saturday last.
i State Consols yesterday closed steady at
371408s, against 36s24D371s on Monday, with
sales Of only $4,000. Premium Bonds were
quoted at 24ssta 2511ss, against 247s@251a on the
previous day, with no sales reported. There
was sale Of 5000 United States per cent
bonds at 1925.
There Is still talk Of establishing clearing
house In the Chicago Board Of Trade, as 1t Is
claimed that 1t would prevent 90 per cent OF
the trouble met with In squaring accounts In
times OF such excitement as were witnessed
week before last, and prevent loss In many
cases.
The Executive Council OF the National Cot
ton Exchange have changed the place of
meeting Of the biennial convention from st.
Louis to New York, owing to the existence Of
yellow fever at Memphis, and the consequent
excitement throughout the Mississippi val
ley. This will be sore disappointment to
st, Louis.
The New York Commercial Times, of the |
tWenty-sixth instant, says: "The opening of
trade for the autumn season makes fair pro-
sgress. For some reason the epidemic OF
yellow fever at Memphis does not excite SO
much alarm as last summer. 1t seems to be |
expected that the vigorous measures that are
resorted to will prevent the spreadof the
disease"
According to the New York Chronicle OF the
twenty-sixth instant, the visible supply of |
cotton Is 1,325,853 bales, against 1,478,021
bales at the same date last year. These tig-
ures indicate decrease in the cotton In sight
OF 152, 1853 bales as compared with the same
date Of 1878, decrease Of 774,343 bales as
compared with the corresponding date Of 1877
and a decrease of 938, 1888 bales as compared {
with 1876.
The French per cents, which are now re-
deemable at the pleasure Of the government,
are to be allowed to run for the present. The
reasons given by the Minister Of Finance for
not converting them into new stock bearing
q lower rate Of interest are more Ingenious
than satisfactory. He says that the CONVEX
sion would be troublesome In case many
holders refused the new stock and insisted
upon having their money. This would neces-
state loan, which might cause losses as
great as the gains accruiDg from reducing the
interest. It would also be inopportune IL 1t
troubled the European money markets. The
truth probably Is that the IN easure would be
at home, and Is therefore not to be
Ventured upon. (
The electric railway recently tested In Bar-
In appears SO practicable that a company Of
German capitalists have petitioned the Eng-
ish government for permission to build a
.ailway on the new system in London The
INVENTION Is altogether new one. In it the
power Is supplied by a dynamo-electric ma
hine worked BY q steam engine to another