New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1856-03-19
THE COMMERCIAL DEPARTMENT.
NeU Orltans Yt(oneu NlarAet.

CRESCENT OFFICE No. 70 Camp street, I
SO. Tuesday Evening, March IL, 1856. 5
With the general position Of Idarket other
than tendency in favor Of borrowers Of money We have only
record the negotiations Of paper to-day which
about sl200o0 having from months 10 three years
deemed A, placed at cent good to
fair from ss 9S, and lower grade lower
Capitalists who have been holding back fsr advance
willing accept the above their only CHANGE
their money elsewhere for investment Which Is very
probable As there is noetter paper in world than
factors acceptance though should Lord Paneston and Attorney
General Cushing Introduce hostcs between the United States
England cotton paper plantations ard trade
would be seriously jeopardihcd There is however proa
biy Mr. John Bull will jeopardiza vast commercial
interests Of his Subjects ri this lncure therefore moneyed
and loan all they and az PERCENT
should not be Surprised 70 money going ~
per cent. BsS
The only sale in stocks today to Our knowledge was $50
shares Bank Of Louisiana at lJl1a gross.
Exchange MARKET far Northern funds Fgo, without
material alteration. The banks sold Is Is discount
New York outside the for private bankers bills the
same though sone for round su1s there thing to
be made would sell at r. shorg that is three days
sight, ruled from ID III dis. Thirty days IA " dis Sixty
days ls to IL for bankers drafts and ~ and "a for good
commercial bills.
serag advanced fully quarter, clear bills taken at III
81, and quotations go up peg say from fair togood and
bills Sd, e1z 81 Bills Of Iadng drafts and
such offered taken and IA ye. there
buyers holding back for decline Tn francs only hd Of
small and continue rates SIX to Is and
10 oil: vvh q s cass drawers holding at n tholph
have not heard Of sale at that figure.
It fresh in the memory Of the community that twenty
two months ago the merchants banks and exchange dealers
taken by surprise by the failure Of the long and old es.b
lbed ouse Of VIM Plat Song of pfiadcnln For fifty
had stood in the hghes. niche Of commercial! fame and
crei,-engaged in largely diversified buses-.he rno
tan. of which was the India and China trade From China It
was ,atura, that house engaged in so operaons
should have its California in which trade the
firm in Iss 40 and 50 was drawn to gigantic extent which
unfortunately was the cause Of total prsraon Of
credit and the nraluic Ia n rena-al s,snpnsod
OF course with housa of eminent standing and char
its various ra;caton of trade extended TO every important
mart and o good r;.v came in for share of the sor.ues
attending the unfortunate result OF great commercial disaster
The obligations Of the firm Of Messrs Plat. Sons being held
in orr city tothe amount of over half million Of dollars and
some our wises and most discreet nanciers
cations were in the shane Of hills Of exchange drawn by MI
Tlos s. Se for purchases of cotton made in onr market
and though in the general ceasure against fine Bank o. Iou
siana for taking 20 largely Of one make Of bills 10 the prejudice
Of smaller dealers or traders il 1ba. aiding
change and BUYERS Of cotton was tending the general good of
the city, It was not generally known however that the drawer of
the exchange was the owner Of six hundred shares of
The ss sock s t bank ,w regarded in al circles
5zs,s o he an,s
Il asn-ds nc n,s,,r-e o n viva ~ ;.~ Of tho efi
.frdin, ne tho hi,h ,,ra,isxa,;o a. +r , . r. 1di
,,o ,,,;., ;,,o,.s;t,, ox1 ,,
| If .h ,;,s sd add;, aoe,n- s; r. ., I,ol r. -
tiie ihth efedit ana honor Oh our c'y'
must be taken nto consideration that in the buying and
shippipg cotton to the amount Of five and six hundred Thousand
| IolIars . h s.o. dad i.,, ro, ,oi, ,,a i,- ,il :
falling market and notwithstanding the Losses for
which this exchange was made was over the drawer
| -, -. <. - Il
INC d"i'o mas HS 'ahe up every one satisfactorily 10 me
holders thereof Having paid upwards OF Soao Every holder