New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1856-08-19
THE COMMERCIAL DEPARTMENT.
glflu 0rleaMs ItEptsw MarAtt.



For the third week in August .iere more than usual activity
the landings several great thoroughfaes city
Although receipts Of cotton backward compared 70 last
year. there many other items Of trade which seem TO-
keep animation or course there is not much . be sad On
general money market The article In fact is becoming
drug where Al securities required for il Those who hold
this kind securities above want and have no idea Of
putting them the market though at the same time good
operation BIO made and then We are almost confused
the great difference between the value money IN TINS
market at g time and in Nav York Photographic advces
day from Wall quote in demand and Sterling M
change ~ The adyices BY telegraph Of the arrival Of the
Baltic received early hour this morning.
The money in London quoted as gherthis may
be may money like cotton other pro-
be Influenced by madep dispatches to
suit the Of lenders If the reports we're that
cotton heavy and tending downward, should at once ar
rive the conclusion that speculative motives were ut oat
the TING views TO be taken and several
conclusions arrive from all which may come via
telegraph the next sixty days. In the Meanme we can only
say all interested in await the regular mails
The Exchange Market opens quietly The banks gene
rally willing sellers Of checks New York to their Gus
Large refused with three OF the Banks
advancing their the close Of the day TO u per cent
prem, which Of the transactions Tomorrow VIII DC
guided Sixty days sight nal per discount No COMMERCIAL
drafts offering to-day. o $50
There nothing foreign Sterling was heavy at 91a
for Al bills Francs taken in small amounts at u.s. Finally
it early in the week TO have much 70 report in Exchange
operations. " f. -lg 5-s7f -5' r.-
There Is some inquiry for stock Canal Bank will be taken
l all that lis to be had 1859 has been refused for Union.
shares Of Bank sold at lsz advance Bank
of New Orleans is held at 1o3@9lo31z by brokers
The mails failed to-day from beyond Augusta Ga, and We
nothing of from Northern cities more than
alluded in the telegraph dispatches
The great advance in the price and usance OF money N
New the subject Of much remark in financial cir
Of city Although the business Of city is largely
blended with that Of New York nevertheless there s that
sympathetic feeling experienced which would suppose TO arise
press reaction in that mareths shows that our
community liz independent in fact dei world by ITSELF We
frequently within the three years. had occasion 10
notice several pans and in New York. which have
not in the renloess degree had any influence market
The Of commercial paper having only 60 and 80 days TO
discounted outside Of Bank in Wall street at the rate
of per cent What services the commercial community
the Cy.fye in the city Of New York with their OO0
900 capital 81 deposits, if good mercantile paper
having only days has to be shaved in the streets AZ the
per per annum, and other good names having
longer from l05 PEI cent? From the extract be-
low, New York paper OF the It'll inst we think that N
case with any foreign power New York would
boed from commercial circles There
allowances undoubtedly be made from tese remarks which
| follow:
position have now an opportunity taking wider survey Of
the field operations and II they late in their con
these laes % talk about the actual any ae
in e maTki IN our 50 an as M po as
silks and sa,ns It is absurd to argue that sue
within limits. We stocks railroad poads
sPa %a sassae ana ou sso
proveent upon which the interest dividend
up aside useless in less than six months In tbs
CT months n Ct d3e s e soa a xe 81 M
corresponding period last showing an 5 @ as, in Il.
the nearly million week The pur
have paid this poTtiono d foreign goods
but probably only to the extent small norton Of e IN
@ ters emu annually s pIl ing od # neeessar We the silks
securities have, probably long before this Disappeared and tn,
The same way It not at ali surprising specie going
Of million dollars per week or to see s weekly re-
sixty million dollars worth OF foreign dry goods in period
months In the face OF such things. sane man car
anticipate continuance of the financial ease and album
dnee.
all in their They have in 50 doing run up dis
the basis IF country deposits which every bank manage
city knows will ultimately be drawn for III
portuny 10 good dividends ready
Their harvest viii their safety Tie socl
market must be seriously affected by these financial CONCLUSIONS
eouraged speculation every way and afforded every facility
s e ga as a ref cs
the contraction commences in earnest we shall see such PAM
haye he banks reducing their dis
lime TS hut @ de- t. aS Them o
enormon when they knew It. e9nd not be WI tha
round certain the lauredthat just
as s s ans Ss d f ss1
perform they therefore regardless Of the interests
stock speculaors So far in their power they protect III
regular merchant and where sacrifice the operator
socks The frst towards contraction is FssreIo
the principal of all pancs and its operation fsequen
proves fatal many sargune Spectator. We wthor
doubt, the of local financial rvuson The deal
for aaey Is daily ncreasn and the rates Of Interest has
them for discount have forced large lots Of into The
The business is just opening and last seasons abile
maturing expansion Of bank loans unprecedented
the history of banking in this CITY, Before the fall trade close
houses both iii and Of Wall street.