New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-11-26
Neh OrIeats Duly 6rsstsnt.
THE COMMERCIAL DEPARTMENT.
Ntm OrItaus Mloutu Hlarktt.


gttu 0rlsaus Mluutu Mlsrkd.
n cs1 S. o..lG.: y. = Camp :rs A.
The telegraph accounts which received last night
O'Clock hsd very little effect our market They were 70
confused IN some respects Is difficult arrive
real snd true import Cotton quotations particularly,
operators the staple went It ysry
boldly today and sales wse large very full prices whether
held out for The future or not the vaiue Of and
feeling towards cotton hays greatly increased within
hours.
The money market offered nothing to-day for remark The
principal bank discounng to-day very little The oct Of
the 9Th February l842 understood in
community By the following extracts being articles
and Of section II will be observed how very restrictive The
statute Is
s. That the maker or esdorser Of any
note q az ~
y bs @ shall b
asd and notice thereof shall be given BY such bank
It will be observed that this pretty stringent
OF such strong legislation only apply generally
such revulons panics those which the
commercial and financial world is passing through
which hsye been severely felt in this city, though brought
by no cause or action on the part Of its community
Exchange improved to-day The banks sold checks
discount New York Outside rates ranged at l
~ discount with good demand i've days sight offered
2 ten days sight 1t ~ 20 days sight 33k discount
days sight at 44h discount Al clear sterling
asked Bills with shipping documents sold Francs
advanced aud though they rather dull have
gone up 670@5 with being held at sl5 There
uniformity in the general Market and sppear
settling down to something like stability. II will be observed
English advces brought by Vanderbilt have not
had the least effect or influence market.
Among the failures reported IN Liverpool With Its head
New York the exchange and commission houss Of Babcook
Brothers. whose liabilities reported million ard
ha OF dollars The father Of the principal
this city and Of the propreos Of the
Of buildings Canal street, next the Char
street. toward Royal street This failure like many Others
does affect New Oreansin fact believe that
received sdvices which likely to effect
here unless stupendous than any ye
of should take place. Of which there grounds
at this moment for entertaining the least suspicion.
There nothing done in stocks to-day knowledge
The firm. Nessrs Paley Co. hold their fourth
sale Of the eaturday next when will be offered the
usual assortment Of stocks bonds and other securities.
The general mode Of ransacting business In New York II
undergoing this time considerable investigation. Whether
will amount change will be determined by the future
Of events We often hear Of resolutions intended
create chsnge but 1t is idle to suppose that the credit system
be abrogated abolished in fact transactions time
credit have been OF the greatest the and h
agricultural welfare Of this Union Credit has developed thu
great Of the Southwest 10 the abuse of system
tha has been the bane Of and when metallic
rency talked Of and the partial abolishment Of banks
might point to Mexico hard money country, debased
cially financially and desire hear anythin
Of hardt money projects II every State In the Uno
would follow Louisiana in IT, banking laws there would be
little trouble arising from pancs and is the FIRE
of credit which is the chief Of revvlsons but
made the old one Of shutting the sabl
door after the horse has walked out. y+
We may another commercial revulsion for the
twenty years the meantime it place
in which great deal Of business has
in New York. portrayed in the following of
Communication Virginia paper abiding New York
| chants:
The factor Virginia. shipments manufat
chants e make advsnes on r.
Of an acceptance fou. time upon h
value Of the invoice.
v.rabiy on credit eight months when very freaaeny
aa .o 4 he
the factor has the use The Whole none,
If a s me 1 % S as
IT. xs sa
to out "a ss e sale Shsp he had asa
spt farher Even when the sale truth made
time M he a qDen credit it, Of 9a
sale remaining third e hs proceeds apply
snses with his year to.wit the
fae'G5 il NsT Y0k to have
each week iand frequently the cae makes him sh
{,
$500 per week margin upon his shipments estimate \
suggested. which not exaggerated II
year WIN be found to have than in his agents
of which the has had the sole and control
tobacco agent, with only ten such shippers, would
late fictitious capital in the Of Of $500 GEO wi
which his business buy fancy Stocks shave
u build houses and drive fast teams.
Now. is it plain that the tobacco manufacturers
Virginia. furnish Northern with their trading
s. | tai?
t. is in point tobacco factor in New York wi
has lately suspended commenced business in 1854 with
tai of only s2 600 He succeeded almost immediately in
ting good trade and during the flush times Of 1855 and lS
kept standing balance in bank his credit of from $4,000
S3lO0U But with this baance-more than the whole Of
capitalize yet proceeds Of sales had money
his acceptances and ether different espenses Is
failed for s2CO 100000 of which he owes in Richmond
y Alb diace