Democratic Sentinel, Volume 1, Number 32, Rensselaer, Jasper County, 21 September 1877 — TRADE AND INDUSTRY. [ARTICLE]

TRADE AND INDUSTRY.

Norfolk expects to ship many oysters to Europe tliis winter at fair rates of remuneration. A fruit- canning establishment on a large scale will soon go into operation in Cullam, Ala, Friar’s Point, Miss., is to have a $40,000 oil well, with ex-Govemor Alcorn as President. The production of coal oil has been increased from 500,000 barrels in 1860 to 8,968,906 barrels in 1876. The Entomological Commissioners who were sent out West by the Government say there need be no fear of grasshoppers this year. The New Orleans Times says that landlords in that city threaten to increase rents 30 per cent., on the ground that they are now too low. Bricks perforated with three holes, that the mortar may get a good hold, are being used in the construction of some buildings in Minneapolis, Minn. The Colorado grist mills are now busy grinding new wheat, and the price is steadily declining, because it is offered in greater quantities than is needed. The Louisville Courier-Journal finds the wholesale dealers of that city/immersed in business. They think the good times are coming again sure enough. Mr. Shefokd pre-empted 160 acres of land in Nueces county, Tex., in 1861, and started a sheep ranch. He has now 60,000 acres, and is worth over $200,000. According to the reports of the English Agricultural Gazette, the wheat crop in the three kingdoms is considerably below the average; but it has been a good year for graziers and dairy farmers. The New York Times says: “Importers and jobbers say an unusually heavy trade has set in. A leading importer states that the purchases of silk velvets and the finer grades of woolen dressgoods have been, and still are, unexpectedly large. ”

The English railroads are still plowing in new capital, and ten of the old lines will call up £5,500,000 during the last six months of this year. In no year since 1865 has so much English capital been put into home railways as during 1876, when £28,000,000 was raised in preferred stock. The Massachusetts boot and shoe manufacturers, says the Springfield Republican, are having as busy a season as they have had for years, and many of the factories are running fifteen hours a day, the demand exceeding the supply. Most of the manufacturers are asking an advance of 5 to 10 cents a pair on all duplicate orders. The London Economist quotes an article from the Berlin Borser Zeitung, intimating that of $200,000,000 silver coin withdrawn by the German Government, about half has been redeemed and $75,000,000 sold, leaving $25,000,000 on hand. The silver remaining in circulation is in one-thaler pieces. No date for its demonetization being fixed by law, it will be withdrawn at the discretion of the Government. The New Bedford and Billerica, Mass., two-feet-gauge railroad, the first of the kind in this country, has been completed, and the first trips show that the road is inferior to none in speed, smoothness and safety. The road, which is eight miles long, has cost but $50,000, including buildings, bridges and equip ments. The latter consist of two locomotives and eleven cars, the former weighing but eleven tons each, while the passenger cars, carrying half the

number of the standard cars, cost but one-quarter as much. The Financial Chronicle, of New York, makes a calculation of the amounts of investment securities held by the banks, insurance companies and trust companies of New York. In tabular form the figures are as follows : 1877. 1876. 1875. U. S. bonds... .$150,911,113 $136,629,322 $118,319,354 State securities 17,595,122 19,364,820 19,985,917 Ciiy securities.. 62,856,586 60,205,972 61,291,133 County & town bonds 6,684,103 8,566,171 7,373,255 Co. securities.. 14,397,832 15,562,173 12,640,980 R. R. bonds and “ mortgages. .. 192,672,525 205.962,345 200,118,977 Real estate 35,233,103 32,800,291 31,645,013 Total $480,410,384 $479,091,094 $451,374,629 State banks unclassified 420,600 369,284 899,068 Grand t0ta1..5480,830,984 $479,460,378 $452,273,697