The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1842-09-05
New Orleans.
Correspondence Of the Herald.l


New ORLEANS, August Is, 1912.
The Banks and Bankes-Spccie- Business Produce
-Erchange = Werico = Sickness The Ladies'
Distress, &c.
JAMES GORDON BENNETT, ESQ.,
Since my last, things have gone along very well
here, with the exception OF the grand expose of the
Atachafalaya Railroad and Banking COMPANY.
which is very rich and has been the principal talk
and gossip for the last week. We may well exclaim
who shall we trust now-how are We to know who
is honest and who is not | would advise all of
those Bank Directors, Cashiers and Presidents who
have not clean hands, to make them so Immediate
ly, az each OF them will be called upon to show
their transactions, whether good or bad, confidence
having entirely fled from this community even the
church Is no guarantee for honesty or integrity
now.
Our broken banks are gradually coming to
close. Last week heir paper improved little, but
this week it is going rapidly the other way The
Attorney General will not sequester them imme-
diately, but will sue to give them fair chance to
save themselves, if possible but it would be far
better for them to discharge all of their clerks save
all possible, and commence quidations, compelling
the debtors to pay up in coin, in which case the bill
holders would lose but little but as the law is now
allowing, it were, the managers of banks to Dor
row an enormous sum OF money, which they take
good care to pass off at par, nearly so, thea the
institution fails, and they pay up at the rate OF about
fifty cents the dollar think that this will not
be tolerated very long after the meeting OF our next
legislature.
Specie is flowing in upon us from all parts of the
world, and we will very soon have plenty to do
good legitimate business. | apprehend that your
banks, though in good situations, will feel the drain
IL. ~ Al.
money will not be quite so plenty there as il has
been while we shall be comparatively easy here
Business is improving with us, but most sales are
made for cash Many OF the planters are compelled
to.send few bales OF cotton to market and order
the proceeds invested in rope and baggng to cover
the balance OF their crop, they not being able to get
credit themselves, and their agents here. that are
left, have seen the folly of advancing far ahead.
to SO per bbl. quick, owing to the light stock on
hand, and the extreme lowness of the water in the
upper rivers. Whiskey 25 3Oc per gallon, firm;
wheat, new, Zoe, old 75c. per bushel; corn, 81
cwt. sugars, 2l 4c per h., with good stock ;
There is good number of ships in port, and freights
are exceedingly dull, especially to northern ports.
Exchange on New York at sight, par at sixty days
sight, Ii a 2 per cent discount.
We are without any late news from Mexico,
more than the rumor that Santa Anna has 1000
men at Vera Cruz, ready to sail at a moments
TT warm for some think that most pro-
take notion to visit Uncle Sans dominions
The health of the city continues very fair, only six
deaths by the fever last week we are blessed with
refreshing showers every day, and we do not appre
bend an epedimic. Our nights here, now, are most
glonous; do not hesitate to say, that they are fully
equal to the finest in Italy, and only need the song
OF the poets and praise of travellers, to make them
equally as celebrated; and then our ladies'! who has
ever visited this place, and not been perfectly
raptured with the dear creatures in general their
dress is simple, rather light. and put on extremely
neat !; they wear but few jewels, in which they
semble the Mexican ladies of rank their figures
are the most perfect that | ever saw, and in con-
versation they very entertaining and intelligent;
they go out but little in the day time, but in the
evenings they are sure to be promenading or enjoy
ing the balmy breeze the balloons. Strangers Wis
ting here very seldom make many acquaintance
among the Creoles
Economy is the grand order of the day here now;
rents have fallen nearly one half, and expenses in
every way are greatly reduced Last season good
board could not be had for less than 45 per month";
and now you get the best at $25. Ii often sur.
prses me that many who have heretofore been
wealthy, but are now reduced to poverty, by rash
speculations, and know not how they are to get
food from one day to the other, for their family,
that 1t never occurs to them to sell their jewellery
and other articles of nery that are of no them
now if this done in many cases, it would real
ize no small sum, nearly enough to commence
small business with.
The New Orleans Sacred Music Society are to
give concert soon, description of which l may
give you More anon.
Yours truly, LIE B.