The herald. [volume] (New York [N.Y.]) 1835-1837, 1837-04-17

BY the Express Mail of last evening" we have re-
ceved important intelligence from New Oreans-
The commercial excitement increases. The follow
ing letter will speak for ITSELF
Private corespordence.l
NEW ORLEANS, April 8, 1887.
DEAR SiR,-l propose TO give you commercial
and general letter every day. be by the express
mail Situated as we are here we dare not give
names and state particulars in any transaction which
may affect the mercantile community. In regard to
The late failures the newspapers had to be content to
merely state the fact. The breaking up of the money
power by the present arrangements will go far to al
ter this system of secresy that has characterized eur
do ngs hitherto.
Ever since the establishment OF the Herald, the
manly and open tome of its commercial views prob
ing things to The bottom, has always won our admit
ration here. letter every day, containing such
news and such philosophical views of our markets.
might be acceptable ! will give you such one
and beng IN that unresraned by any conside-
ra'ions of policy, shall be able speak out plainly,
and in terms not 10 be mistaken Ecng placed in
possession Of information 1rhici 30. may rely il
will enable you to prosecute your inquiries, 50 far as
we are concerned with such vgor to slarlle all the
Wall street prints. The news commonly given by
the correspondent of the Courier & Enquirer and the
Express cannot be relied on. / know the writer
| shall commence sending you
letter every day of the kind above mentioned The
postage is a triie. Your attention is earnestly re-
quested TO this note.
NEW ORLEANS, April 6.-paral as we are to an
honorable competition between New York and New
Orleans, for commercial greatness, cannot
sent that the career of the Atlantic emporium shall be
promoted at the expense OF the credit and reputation
of the southern 1t was, the,eiore with feelings of
surprise at first and Indignation afterwards, that we
witnessed the efforts of the MessrS. Joseph, OF New
York, and the editors in their confidence, the
onus OF the failure OF that house on New Orleans,
when we know, from undoubted authority, that the
very is the truth The fact of their pub
fishing letter addressed TO them the confidence OF
business and friendship by house in this city, should
alone brand Their conduct as infamous, beng palpa
BILE violation OF the propreties OF lte yet Their nfamy
rendered greater by having had that letter pub
lished in mullated form. Every word that could
not aid their purpose and excite the support sym
pathy Of the public towards them was rendered
spicuous; but all that alluded to their responsibilities
here was stadlously stricken out! There is integrity
indeed!
And then forsooth the conclusion was, that the
Messrs. Joseph failed IN consequence of the New Or
leans merchants failing in rernlttances, pay the
balances due Now what is the truth That the
Messrs. Joseph owe not less than 5000, to one
house alone in Canal street; and owe in sums of va
riOus amount to different merchants here not less
than 100000 This is too well known 10 be doubted
and should be promulgated every par, of the union
and then let the public Judge of the singuary of
banking house failing IN New ork, because II owed
half million in New Orleans.
We care not 10 what part Of the world reference may
be made and comparison Instituted, when we frank
ly avow our firm conviction that for probity and high
mindedness, for energy and experience Tor generosity
and honor, the merchants Of New Orleans generally
are unsurpassed by those Of any city in the world
and five consider them abstactly regards
we concede TO them the chlefor sole merit ofha
wing embellished our city advanced lis greatness;
and elevated its character throughout the civilized
world.
In conclusion, il may be well to remind our readers
ola remarkable fact regards the failures ofthe
mission merchants of New Greans-that i'm 1919 and
1925, when the failures were more wide spread and
perncous than al present. the notes and accepances
Of every merchant who then suspended stopt pay
ment subsequently, paid up in full by the PLAN
tiers the merchants; and that the planters
very properly assuming the pawn ofsuch notes
had been accepted or endorsed for them by their
agents here.
Af1alrs in general wear a very gloomy aspect
there seems to be general want Of condolences bust
ness in every branch is extremely limited, the sales
which made, continue to be in small quantities,
and oImmediaie wants, there are purchasers in
ke both for their account and for ORDERS but the
want of confidence is great together with the diff
culty of negotiating paper of any kind that holders
are unwilling to dispose oil property excepting for
cash II is said that the banks have to a Teso-
luton call in but ten per cent Of their loans and
il is thought by that things will remain in so
bad state much longer.
/ Corrosive have omitted making any quotations
the market IS unsettled that there appears TO be
fixed rates. and refer the ual sales as the only
criterion to Judge of prices for the present; was there
not much difficulty in negotiating exchange there
is no doubt but the operations would have been much
more extensive than they have been As regards the
prices, compared with those at the fair opening of
the season, say December, it is the general opinion
that they are from 10 cents lower, for the same
quality of cotton, a large proportion Of which has
has been received for some time back, very inferior
and that would scarcely be sampled the fore part OF
the season.-Bee.
NEw ORLEANS April The Hoiian Opsr1.-
The public expectations for arepettion of Romeo and
juliet last evening were most singuary disappointed
by the unaccountabe disappearance Of Signora Rosi
second chanteusc, attached to the Italian company.
who departed for Mexico during the day without sa
tisfylng the public curiosity the motive which in
duced this inopportune voyage. Her absence we are
happy to state however, will only be temporarily felt.
az the director of the St Charles about to effect an
engagement with the lady who sustained the same
line OF the opera last year and whose performances
gave such general satisfaction.
In these times Of financial distress, the public will
undoubtedly learn with pleasure that the Citizens
Bank received yesterday Official notice from Messrs
Hope & Co., Of Amsterdam, that their bonds for tho
amount OF one million five hundred thousand dollars
had been negotiated in February last and that the
Bank could draw on Paris and London and further,
that il was expected that bonds TO the saIue amount