The National tribune., 1883-01-18
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FINANCE AND TR A D Z.
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FINANCE AND TR A D Z.


causes of the dccadence of American commerce,
he said are the changes in the build of ships
from wood to iron and the war OF the rebellion,
and the principal remedy l. not IN free ships,
hut in the manner of running the ships. II
Bottom wants 10 maintain her emlncnCe rs Il
commercial port she must make connection
with the NT2tcr-borne commerce Of the United
States: in other words, the HOOsaC tunnel must
ioin with the Erie canal. Water-bOEne COM
merce is from four TO eight times cheaper than
any other commerce. and he appealed TO those
present 10 open through ways to the great
West When this is done Boston will be the
nearest eItreport TO Europe. ltwould be better
to put cal ital in this than in some OF the cat
apd-dog schemes out in Arizona; it is betterto
encourage honest labor than TO engage IN
gambling speculaEonS.
Dr. Norvin Green, president OF the Western
Union Telegraph Company, appeared on Satur-
dav before the subcommittee of the House
judiciary Committee by invitiOn, and discussed
provisions of the bill recently introduced by
Mr.. Joyce, of Vermont, for the regulation of
telegraph and cable companies. He said the
Western Union had nearly 100000 miles of
wire-euough TO girdle the earth fifteen times
and !. 800 offices scattered in every State and
Territory Of the Union, and in the Provinceso of
Canada from the borders of New FOundland at
the Gul Il of St Lawrence to Puget Sound IN
British America. 1t had also cables to London,
so that It now required more than nine hours
for the sun TO rise on its lines, and the feat had
been performed of publishing in the San Fran
cisco morning papers the quotations and trans
actions Of the closing of the London Exchange
at O'clock of the same day.
The prolonged drought in Maine, New Hamp-
shire and Vermont has been productive of most
disastrous results. The loss of water power,
it appears, is serious, and there is much do
mestic distress. In Manchester, y. H., some
1000 operatives are idle on account of the mills
To INIT no In
of Maine suffer severely, the product of the
saw mills being reduced by some 20,O00,000
feet The rivers of Maine are lower than for
half century, and the losses on account of
suspended operations reach many thousand
dollars The mills on the PenobscOt lose over
100000 The establishments on the Kenne-
bee. Androscoggin, and Saco are likewise Grip
pied. Farmers and househOlders are greatly
inconvenience.
In 1850 the exports of grain by sail were
63,376 900 bushels; by steam 1850, 900 bushels.
In 1851 the exports by sail were 100000
bushels; by steam, So, 600 bushels. In 1881
our wheat and corn crops were both short and
as a consequence our exports of 1882 were ma
terially affected thereby. The sail shipments
for that year were 6,2Si, 2S9 bushels while those
by steam were 39,S1S,449 bushels, making a
total of 46, 1878 bushels for the year. The
conclusion is thus evident that steam will
crowd the sailing vessels from the grain trade.
single bushel Of grain was shipped to Europe
from New York in a vessel bearing the Ameri-
can Gag.
VIM. G. Morris, collector Of customs at Sit5a,
Alaska, is confident the rich mineral deposits
of Alaska must soon attract attention. The
lodes found at the base of the mountains,
which can be traced up their sides, are being
worked by surface-diggers to advantage. Last
season small force OF men made over S200,OOO.
Little respect, however, is paid to the proprie-
tary interests Of others, and the digging5 have
been much interfered with. Considerable
Pacific coast capital is finding its way into
Alaska, and has already brought into promi-
hence lines Of mines as large as the whole
Comstock lode.
Reliable information has been received from
various sections of North Carolina to the effect
that the cotton crop of that State will be over
$4,000 bales less than last year, and that great
quantities of cotton left in the fields unpiclled
have been badly damaged by snow. 1t is esti-
mated that the cotton crop of Virginia will be
less by several thousand bales than it was last
year. The difference in the receipts of cotton
in Petersburg, Va, up to date and the receipts
for the corresponding time last year is over
1000 bales
John Raymond died in Scranton, Pa few
days ago, aged IS years In IS2S he built the
first mile of railroad track that was ever laid
in America for actual commercial business
This was on the Delaware and Hudson Canal
Company'S Road between HOnesdale and the
coal mines at Carbonate, Pa. On this mile of
track, on the 2oth Of August, 1929, the first
locomotive ever run in America was tested. 1t
was run by Horatio Allen who is now living
at East Orange at the age of nearly 80 years.
The annual report of City Comptroller Patti.
son, OF Philadelphia, puts the revenue Of the
city from all sources for the year 1SS2 at
Sl3425, 4Gi97. The total expenditures for the
,z-,4rp lac lgl
at the beginning Of the year was s.. ,693.4i
The funded debt Of the city January !, 1853
was ST.. 4G>, 3l6.2f, and the floating debt at the
same date was S15i,57617, the total debt having
been decreased S106,5ll.3l during the year.
The entire number of railroads sold last year
according to the RI5JUag Age, was sixteen, and
most Of them Of minor importance. The total
mileage was S67a miles represented by $26 lG0-
900 o. capital stoci, and $39,2G5,000 Of bonds
and other debts. This is a better showing than
IN any year since the era OF railroad bank
ruptcy set in.
A number Of cotton manufacturers met at
Atlanta Tuesday and organized the Southern
Cotton Manufacturers Association by the cleo
tion Of ). /. Hanson, Of Macon, president, and
7. Il. Dallas, Of Nashville secretary and treas
urer.
The convention Of the Bricklayers' National
Union at Providence, l.. J., on the l0,h inst
elected HenryO. Cole. of New York, president;
David Il. Gibson, Of Ontario vice-prcsident;
and L. Carpenter, Of Ohio, secretary.
w. r. Blackwell, Of Raleigh, y. C., mas sold
his interest in the firm of Blackwell {. Co.
manufacturers Of Durham smoking tobacco, to
his PARTNER Julian >. Carr. for $4,000, but
reserves royalty on the Bull " brand.
Chicago'5 elevators have $4,000 bushels of
wheat :, 900 Of corn, Ibis, 0J1 Of oats 49,
O01 of rye and $500 Of barley, making total
Of lhtG3oJ0 bushels, about the same as a week
ago and a ycar ago.
Returns show that during the year ended
September 81 last, 1918 persons arrived in
Canada, Of whom 1928 went on to the United
States and 1851 remained in that country.
The first cargo Of corn in bulk shipped to
Europe from Savannah, Ga, was loaded from
the new elevator, Tuesday aboard the British
Steamship Lareka for Liverpool
The Texas legislature has adopted bill with
drawing The fifty cent land from sale.
Some Burning Questions.
To the Editor NATIONAL TRIBUNE: