Democratic Sentinel, Volume 1, Number 34, Rensselaer, Jasper County, 5 October 1877 — TRADE AND INDUSTRY. [ARTICLE]

TRADE AND INDUSTRY.

The great railway whaff at St. John, : N. 8., is being rapidly constructed at a contract cost of $1,774,000. A new line of steamships will be placed upon the route between New York and Venezuela, South America, early next month. • . Gen. A. C. Jones, who has just returned to Washington after an extended official tour through the Southern States, represents that everything throughout the South bears the appearance of growing prosperity and reviving trade. Although Russia is only in the sixth month of the war, her paper currency has been swelled to $640,000,#00, a sum Only within $10,000,000 of the legal tenders in circulation in the United States in 1866, after a conflict which had lasted four years. Our annual production of butter in the United States is rated at $150,000,000. That of, cheese is The eotton produced in the country is $6,000,000 less than, that of butter alone. In France the butter production of 1876 was $18,660,000. England and France are disagreeably surprised at a new tariff which has suddenly been issued at Madrid, whereby imports from those countries are subject to duties from 15 to 50 per cent, higher than those levied upon similar goods from Germany, Belgium, and elsewhere. New a shorter cut to the ocean by ship canal cut through to Barataria bay— an estuary of the sea that penetrates far into the land on the south coast of Louisiana., The distance from New Orleans to the Gulf of Mexico by this route would be

only fifty-eight miles, and the eost of digging &e canul about $5j000,000,. The receipts of. butter ih flic chief Irish markets have Steadily ihcreftsed of Late years, at least one-third being cfesiterranean, while large shipmoiite also made to Melbourne. The great Irish ioreign trade in butter is now with Brazil. Encoubagimg reports of the condition of trade come to us from nearly every comineroial center in the eountry. The of .New Yoifc are blocked by the accuxuuUtiou of goods ,to (be moved through that most incommodious city. Business at St. Paul is described as ‘ ‘ very heavy. ” At Louisville it is “ rushing.” St. Louis is a “ beehive,” Pittsburgh finds its trade in a better conditit» than for years. The Montreal, Boston, Philadelphia, Cleveland, Cincinnati, and Southern and Southwestern papers all give the same report, varied only in words. In consequence of the recent visit of members of the syndicate to Washington, some new information about the progress of the 4 per cent loan has gained publicity. The subscriptions abroad have, in consequence of the war, been less than was expected. The sales abroad have been offset by the return of called bonds, so that of the $10,000,000 subscribed for abroad not one dollar has been paid for in gold. Of the $76,000,000 of the 4 per cents, sold, $15,000,000 are for resumption, at the rate of $5,000,000 each for July, August and September. , The business of exporting cattle and beef to Europe, which grew to large proportions this season, has been on the whole a losing enterprise, according to the testimony of the large New York firm of Samuels Bros., who made the first shipments of live cattle, and failed the other day. The first shipments were on a small scale, and, proving fairly profitable, the firm engaged several steamers for this trade. Very frequently they had to sell on the other side at a loss, and at other times, although a fair price was realized on each animal, the consignment as a whole was unprofitable, owing to deaths on the voyage. The following banks and bankers have failed in Chicago during the last foiu years : Second National, Fourth National, Mechanics’ National, Cook County National, City National, Scandinavian National, Manufacturers’ National, Franklin, Bank of Chicago, Commercial Loan and Trust Company, Marine Company, S. B. Shipherd &. Co., the Twenty-second t&raet SavingsState Street Savings, Citizens’, Farmers’, City Savings, Cook Ccninfy Sayings, Security f -Savings, A. C. & O. F. Badger, Barclay, Vorhees & Co., Merrill, Ladd & Co.’, Skow Petersen, Isberg & Co., State Savings, Mertmants’, Farmers’ and Mechanics’ Savings, Emil Josaphttt, andthe Fidelity Savings. .