The Arkansas advocate., 1837-04-17
Extracts from New Orleans papers. OFFICE OF THE TRUE As1ERIcAN,
 Monday, March 27ih, 1887.

Monday, March 27th, 1887.
 The Express mail failed yesterday, beyond Mobile, thus leaving US state of suspense for twenty four hours longer Such deay nj this moment is any thing but agreeable. We have endeaVored n another ca,nlnn a trace to their the that have brought upon inc trade of this community such disastrous consequences. II was hoped at one lime hai tho accspaees for tho future crop of Cotton moi very large. so that the suspension of the Cotton laass would not materially affect he general trade.
 B4i thafs H sow cause to appreheHa that the amount is large saoa8h Hfie evils upon the middle cess of esrs s to any direct II etfces these sns- nensiops may nave up7s tie New York market, they afe comparatively tHhag ia comparison with the losses vaar;ncea ivy tho merchants of that city from ihe ji- urs of the dealers in Mississippi and Aahama 10 com ply wlh lheir engagements Il $ true that the disor- oanzaion of the great establishments nere will operate very disasrously to the New Workers through the in direct channels of fade hnl they wona have been able 1to bear up against every difficulty ii heg had not been engaged in the same game great dealefs here play cd al SO extensively Tor some years past;he monoP0- ly of the groat staples and consequent over trading
 Every article of trade has felt the influence of the crisis Flour IS refused at $s co h large quantities: general depression prevails throughout the market
 IMPORTANT FROM NEW YORK.
 The Express mail arrived last evening, bringing the imporaa but disastrous intelligence that the JosErhs of lhat citg lad sfopt payment Friday the 17th #;nstnnL Thus are out worst fears realzed The ag- tann in Wall street all the forenoon of that day very great Al a meeting ofhe Bankers i was ollef ed to sustain the house with one or two millions The United States Bank also proposed to lend them a.mi lion properly secured. They would net accept how eyer. til further adyces from this city received md they determined 10 close business til Monday when something would be done delnhvely. The na- ture of this information will be any thing but cheering so :lat we apprehend the very worst results.
 Stocks have gone down rapidly United States
 IA.iA aA shares Friday closed at il4 Delaware 14'loo sharrs sold; Mohawk 70; Long Island 70; Morris Canal s5; Panters' Bank Tennessee 9S; N, c. Mach and Trad. Bank s5; N. o. Gas so; N. 0, Canal s. 30 days and all other stocks m proportion.
 Dnlness ana disorder is tho order eflhe day here,- Mississippi money, which, month ago taken in trade a par cannot be passed of at any puee and an per cent Is demanded by the brokers 10 discount the best of It. Mobile money, <thc parent banks of which are only eighteen hours Journey rom s) IS at six ard per cent; and such Is the state ot things that not single bank in the city would, yesterday draw on New York at sight for any amount of premium. The J6sephs have SUSPENDED, (tha IS the term) not broke that is they are merely hung up, for which they ought 10 be hung up high as Haman, (io whose tribe they beong for the enormous distress which they Will occasion by their speculatIons and oyer-tfading but there is something singular in this sUsPENsIoN-they seem to be hanging at the present juncte like Gia homets cofin bewix heaven and earth, belonging to neither place. They suspended payment, they say, because Hermann, Briggs & Co. ofhls place had million of dollars of their money n hand at the time they failed; very good Josephs' engagements are said 10 amount to least 35 millions of dollars; surely loss then of one million could not necossitate them to suspend; but fl so the United States Bank offered 10 advance Joseph million ainedi0telY this we should have supposed would have set them square again But mo- sav the Josephs, don't wish to be on an even keel vel because there is another house in Orleans has got another million of eur dollars n their hands or brooches pockets, and they MAY burst and then some body else MAY hurst in New York. and then somebody else burst somewhere else and therefore we Will suspend instanter, and then sha be ready 10 burst as soon as the best and biggest of ihem and fail pF rAcro if we find that failing becomes fashionable.