New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1854-09-22
new york oorrsspo

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New York uorrespo
CO re % \ d ne 81 tAs cressens. s2
NEw York, Sept. a. 1854.
Al deligh tfnl change has passed over this city
within the lastweek, Theunprcc edented droath
snd long Continued heat, which were more I'M
comfortable than any that 7 ever experienced
in the Crescent City, have given way to cooler
weather and Intermittent showers, since very
grateful rain on Sunday last and with a cheering
haryess prospects and brighter commercial news
from abroad, have given an impulse to the spirits
III business insns which the better enables them
to meet present embarrassments, or provide for
future ones.
The favorable indications of the Grain cropin
Europe and increased consumption OF cotton,
with better prices, and disposition to invest in
American Securities, with the advance in Com
soils. have impaired more buoyancy to business
than could have been expected There is no
longer o panic in Breadstuffs, and already the
rise in certain stocks is hailed as the harbinger
Of confidence and healthy trade ..5s
The demand for Money is active to meet pay
ments in the dry goods trade. After the 18th
inst. jobbers acceptancea will fall due in large
amounts The Banks discount to the amount
oftheir receipts. but do not increase their loans
The rates Of Money are already at 10 per cent.
! Railroad Stocks, from the great frauds and
/ misnanagem of particular corporations, have
|recsived shock from which they will not soon
recover, but measures are inprogress under the
best auspices to clear the wrecks and hold sur
jyey upon them and devise the best way for re-
pairs =
The Dry Goods men have found it necessary
to curtal their credits and to crowd their stocks
upon the market. \ b =
The scarcity Of water and consequent closing
Iof many mills has diminished the supplies Of
domestic goods, and the accounts from Boston
are that manufacturing stocks, generally, are
dull and inactive, with very few purchasers.
/ Within few days there have been sales of stock
Of the Lawrence Manufacturing Company at
/ SO Is, which includes dividend of 8 per cent.
for the year. This Company has paid 10 and
rs per cent annually since 1910. Here we have
Iaregular per cent stock selling at 10 per
cent. under par. This is not an isolated case
| for we found the Appleton and Atlantic dull
lof sale at 49, Boston 10, Hamilton Cotton so so
Massachusetts, Mills 80, Suffolk IS, and Ire.
mont 49,, oil Of which paid 8 per cent. for two
/ years past, except the Suffolk, and I, while
the Hamilton has divided 10 per cent. The
Hamilton Cotton Company earned per cent
for the six months ending in june last, and YET
4 the stock will not sell at par. Capitalists Ger.
/ tainIy do not regard manufacturing securities
4 as very promising, and this must have an ulti
i mate influence upon the price Of Cotton (
IT Isl thought the new Reciprocity Treaty viii
tend to cheaper the price of produce and stim
ulats our business The catch % Of maokere
has been very light the past season, and ther,
are fears that the supply Of this fish will en-
tirely fail. II Wasstated in the & Colonial Mag
azine, Of London, q few years since, that til,
use Of sailed menhaden to toll the maekerei, b.
the fishermen, who cut it up and threw it over
board, for that purpose, by producing q disease
from the effect Of the bones on the viscera of til,
4 maekerel, would cause this result. This may
have been the cause Of their present scarcity. I
ii worth while to try the experiment Of fishing
4 on oiir Southern coast and in the West Indies
In fact, our fishermen find it for their adyantag,
| to follow the fish farther southward than they
/ did. Mackerel, shad, herring and other fish
| in the early spring, start from the great north
ern seas and branch off in two streams, til,
! one Of which passes along the coast of Norway
Scotland, Ireland and France--the other come
down by Iceland, Greenland, Labrador and til,
British provinces. BY our own coast to some un
| known southern point.
| The cod fishermen have been very successful
and as the supply is abundant and the baitet
| hook and line alone being employed for it's cap
ture, there is no danger of the extiction of thi
i staple fish.
The price Of coal continues high, and it ha
been traced to q monopoly of misers and spec
nlators, who are holding back the supplies Il
! keep up the price. The people generally recon
mend repeal of the duty on foreign Goals, an,
4 powerful efforts will be made, in that direction
at the next session Of Congress. Would it no
i pay to ship the Breckenridge coal to Norther
markets The present depressed rate o
1 freightB and the high prices Of fuel seem t
Indicate that it.would.
Paper continues high, owing to the dimin
ished supply Of foreign rags and the stoppage 0
many mills for want Of water This latter in
I convenience is likely to be obyiated, and humal
ingenuity Is deyisings various substitutes as
! material, Would it not pay to establish thi
branch Of business at your great cotton depots
where there is always more or less damage,
cotton unit for shipment, but not for paper |
/ might be mixed to advantage with many vel
known abrous plants which abound in you
soil perhaps the cotton plant itself, which ha
been suggested.
/ The wineerop Of Europe, owing to the diseas
of thegrape, will be scanty, and this is fortu
/ mute time to experiment in making wines from
our native grapes. For some time past wint
has been made from the fermented juice of tn,
i wild grape Of New England, without any ad
mixture but sugar and water. Some of it
varieties resemble Madeira, Sherry and Port
and, Judging from the successful limitations ii
this city Of these wines, and Champagne an,
4 Glaret from less wholesome materials, to Sal
nothing Of the counterfeits of West India Rum
/ Holland Gin and French Brandy from Wester,
Whisky, it is believed that We can certainly
/ produce better limitations and pure wines a
i good as the purest imported The success il
j making wine from the Mustang and Scupper
nong st the South gives guarantee Of perfeo
/ success in your more fertile and favored cline
I'M. !. q