New Orleans daily crescent., 1857-11-24
Vsh Orleans 1ailu 6rssteld.
THE COMMERCIAL DEPARTMENT.
gth 0rlsans Nlontu Nlarktf.

- {.
CRzscEsr OFFICE No. 10 Camp street. |
Monday Evening. Nov. a. isl. !
Not exactly blue Monday has to-day bat with the very
purpor Of the segphic advces conveying
intelligence OF the Collins steamer Aantcs accounts which
popped Into New York yesterday quite
she was detained three days the
ness Of the week commences rather sugghy This might
expected afer the large transactions Of last week. there
no transatlantic accounts to q depression
The edvices regarding we feel disposed TO consider
with many allowances "a decline reported since the de.
parture Of the Niagara We prefer wait few days for the
private correspondence before accedipg to this No regular
qnoaons nave yet come to hand Of the decline mp the
parture of the Niagara Of the 7 It is rather dculs to
ascertain what the actual fall the s October and the
llih November really Is. 'ifiE- sl71l.7
general money circles opened very
foran me banks this morning In STRONG posi-
fion The Bank Of Lonsana sbous $3.50 line the Ci
zens Bank the other old banks sufficient
the full surplus sbout 0, which makes very strong
exhibit.
day. Some small sales Of to months at 2 per
cent These figures cannot last long The Bank Of Louisiana
In addition to Its renewals discounted literally to-day and
we confidently believe that the reign Of pressure
The exchange market in good feeling. The sold
checks on New York at Saturdays rate say
count The sales Of sight New per
discount five days sight, 3 discount fifteen days sight at
per cent discount thirty days sight per cent discount
and bold enough purchase days sight
cent discount This with 80 days the first
sales of time bills have heard Of for weeks In
sterling there negotiations lO04 for clear bills
and bills Of ladng drafts p T. There con-
siderable variation between high and ordinary signatures
Francs have advanced Saturdays figures
held Paris direct 55o@555 The Of the market
is from 570tg5 GO to $50.
The only movement in stocks today sale OF
Bank Of New Orleans PIT ,a2
An crept into the Of the Bank Orleans
Saturday last The Of deposits should s %
instead Of $z71846.
The telegraph this evening advises failure Of some
hauka ng
Babcock Brothers Co., which has branch York So
far learn there failures wherein this city
ested except nennistoun Co., and been 30
long connected with this CITY, forty years. and it's branch
here the oldest house in CITY, excepng Montgo
cry It is not ont Of place for make with
expressions of pognancy for the arises
forth. - &5laH t6s5E ..tI
By telegraph have advices the failure Of the long and
old established house of Dennistoun Co.. Liverpool II 10
sad to learn that firm Of the long unbssed credit and
integrity of this should find ise in position misfortune
The first founder Of the house James Dennoun Gas
gow who died within the last twenty-five years. leaving his
three sons two hundred thousand pounds sterling
1877 branch established in this city supern.
tendence Of the late William Hill and known Dernstoun
Hill Co. From the high antecedents Of the Mess
touns the house assumed credit and standing
which has continued through all commercial and financial
vulsions until the present. The house FIRST founded In
glasgow Scotland In the year 1885, continued year
1905 when changed that dates
fifty Mr. Hill the resident partner died
Of the ancient families of Natche Miss During the
morabe between England and France from 1910 1914
and with this country from 1872 1875 the fabric
Of England severely and strongly tested Among the few
that the ordeal successfully day the Dennis
touns In 1873 was another which convulsed the
ca world In 1926 another 1t during these re-
vulsons that the sounness and soy Of all foreign
and agencies In this city tried. No community suffered
in 1925 than New oeans-through which, well
previous one the house of Dennoun, 'Hl &o passed
scathed and unharmed. After the demise of Mr. Hill the
branch in this city under copatners
agents. maintaining always unmpeached high credit
always having the largest at control In 1887
following the house suffered largely by various
tions with the cotton interest," It. however, that great
revnlsion and has enjoyed the esteem and confidence
community.
The recent calamity has unquesonaby brought
confidence In railroad securities by which the
in New York has suffered and considerably They were
victims the Schuyler and New Haven Railroad frauds to the
Kyle operations and recently suffered by Ohio
Trust Company and other nsovencies which may added
large nvolvemens in the dry goods business the
| ton of the Borough Bank
Until within few years. the house the largest importers
Of dry goods in the Southwest It is not going far
that from the establishment in 1877 it paid the
Government than all the other importers of this Large
consgnments of from planters were frequently
rendered It, and with its great connections with the manufsc
of England and Scotland foreign business was also
large and extensive in the Of purchasing cotton Some
four five SINCE he banking and exchange business
offering greater Inducements and hazardous house
here discontinued all business connected with and other
| produce.
When such house is compelled succumb carries with it
feelings of and regret and far this community is
| concerned, expressions of sympathy universal.
During the recent panic for two months past house
here has done very little business having nor nclna
on extend operations consequently the liabilities in this
section limited, and may be considered tring
The most liberal and honorable view Of the panic
considered by foreign writer's particularly the English that
has under observation find in the London Ship
ping Gazette of October 49, True very true the English
writer say that the financial this side internal and
might add far New Orleans concerned Internal
and he lays the the true sources viz overtradng
overbanking overaroad making over.reachng also and
| over-spending:
From the London Shipping Gazette, Oct. ISL
We cannot of that the American panic ia
Perhaps woud be premature was even
he York and Boson saef bns has
produced immediate and most favorable effect public
| mind
abundance material wealth States and there
probably also much amount Of specie boarded than
bs @ @ STATES ahe %
All they want is time and that they have bold
M Tiki whether s n sss @ @ & satisfied
strange unexpected feature and reject
the view which from the rs we have taken of it, The nan
States heavily indebted the The
Of the ample al possible demands but time
The crisis has resulted from over-trading speculation
BY an noFdnate ma issue 9f money That
wise these panes will be of frequent occurrence and will
teraly retired the commercial development Of the States
without currency that she s in condition
strict to anything like the that England has restricted
America have been grossly that the
the result mainly Of that abuse this
they must be associated with Intelligent and welconsidered
e ~