Morning herald. [volume] (New York [N.Y.]) 1837-1840, 1839-08-22
irms trsm Oct. / 1887, to Oct. 1
@5,s7s
bales

This table was accompanied by remarks from which the
following extracts
whose con.gaments for the year seems bales
worth nearly SlaOoo0Oo To conduct this business capital
the old of derg business The influence Of
gaon by bringing the parties together renders less
suit known to the operators al
thong as the cotton still goes forward in sailing vessels, it
sooner closed than formerly In the above list
those Of the above mentioned house.
or these, Ho0rd Co. promises to be the most eminent
We have had occasion heretofore to refer the exchange
operations of this house. They very wealthy estimated
$4,000 900 The cotton operations of this past year
capital Of about ssoOoOO Their b1uns agent for he south
country, Mr. Williams has goss New Orleans. He
Browns His operations agent tho house Of Aoord
Co will be very extensive, in making advances on cotton
The of Villas and James Brewn Co. were the past
year heavy Dealers having csadacd operations to
employing capital not far from 50 900
Th house will continue their busnes. i the a.
throughout the past year.
The Importance Is that Of the Barug whose
employed capital in the rade of 81 600 the
past in the Of Business to the nearly
$4,000 0o Their agent In this country Mr. Barring Young
has gone South TO watch the under
stood will not operate for the present.
The general appearances Of the world the Ella
in motion for regenerang Of the
great demand for manufactured goods this country in
circumstances combined with the mere fact that the
above Of talent and capital brought Is bear in compe
that Of speculation hand; whsA Ss More
pid IN its stages and disassus resu than any
wade and lost I'VE skiiful and p,uSsnf gu retire in
time "a safe hemseisG&
Such the programme Of years business which opened
with every appeanee Of proving very profitable
g1lary engaged in the business The depression manu-.
featuring districts had aot yebexsn the crop, short
there appearance that the supply would by
equal the demand at the time prices comparatively
adj heeo IA L..
rienced in the trade and untarnhed BY speculation there
doubt but the result would have been immensely pro-
habe to this country generally than the Unor
unatey however the brilliant spesoa ofhs U.S. Bank added
to heIroritiorsate sfe market tempted
SPECTATORS who had every thing gain and nothing ose
enter the Market and avail thu meves Of the likely
result to those engaged in it. At this uncture therefore an
pcarsd the famous circular Of The unen Bank Miss also
that OF jobs ngerso purporng be agent Of Huph
res and eddls Both these circulars offered adv snce $50
bae and give the planter the benefit arising from the en-
change The consequence general rise prices in the
southern ports shortly after which the of the short
reaching England began to affect the markets there The
couagng prospects Of the article induced merchants to
order goods largely which further tended TO render the Liver
pool market taoyant simultaneously the Bank Of England
extended her accommodations with view create confidence
Ia the future To this movement attributed by the
English nancers, her present precarous position The OBJ
ject bewevcr gained confidence was and
M to the commencement 81 the year prices rose es
aily.
Al that period the closing few Of the above extract be-
came hsory Humphreys and Bidde the leading
houses cleared cut their socks and reduced their operations
To the unnitiated however, the market still held forth its
promised success And the retircsen Of large regular
dealers only made room FOR the specuao whose operations
now assumed extensive and important character The
Mississippi banks flooding the country with rredsemable
paper advanced cotton and credit Of all kinds put
practice TO get possession OF cotton Al this juncure Of
the most remarkable .pecuons Of modern times COM
nencei in the person Of Vincent Folte Esq.
This gentleman had recently been engaged in contract
furn.hguss for the French government was however
discovered that had bought up all the old rusty pieces be
cosd lay his hands or attempted pass them OF a. Eng
sh manufacture The consequence failure .fhi. cor.
tract and imprisonment from whence he reached Lon.
dos at the most favorable tine for cotton Il arp.ars
tina, about time the Barsg their
in article, and out Of former friendship for Mr. Note
gave him credit Mr. wilder this city, 10 the aount Of
Ei5Oo $4,000 With this capital he this
cosny and kept rather quiet until he reached New Orleans
2h jan 1882 which appeared the cotton
Market and commenced purchasing for cash, al the
highest market rates, drawing on Mr.. Wilder at New
York.
The rapidy Of communication with England greatly aided
his Transactions Every shipment Of Cotton furnished him
with Exchange, drawn against H. which exchange the basis
o. fresh operations Exchange being in demand and the gen
era character Of bills good enabled repeating
the operation TO build up an credit.
A. the he issued crcsars, calculated still further
TO initiate the market At this time speculation at Il.
zenith. New Orleans the great OF an cotton
sreculaop. From all quarters spectators dealers sger
buyers of all descriptions ascked there the great hesr.