New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-10-21
Nsn ORLEANS 1ailp Grtstslrt.
THE COMMERCIAL DEPARTMENT.
Nem 0rltalss Hloutu Markst.
cEnseEss o,ar1es, No; 70 Comp street 4 IT,

cf*"v W~Attttto rktWukH 1EtNkW+As .
oHn'ens 1. ess,sf h,ssiss e c os s.
We cannot this evening that commercial matters have
undergone any Improvement to-day say the
sumption Of exchange operations the part Of several Of the
Banks has been Of SERVICE and that several negotiations
sight funds New York made at per
cent Discount. That the State Bank, the Bank Of Louisiana
the Bank Of James Robb have drawing all through
the day at The Canal Bank has also been drawing sight
and five days sight at the rate has been minated that
three four citizens of New Orleans New York,
auondam citizens have advised that the Banks this city
pend specie But these suggestions going to be
followed though bited to-day that Banks
would be compelled to follow New York Voluntary suspension
compulsory two different attitudes But will
that majority of our Banks will suspend and the first
Bank Director that nmates voluntary suspension ought
be elected from Office So do not desire to hear anything
Of Bank suspensions No. Our motto 49, never
pendpay the last dime in the vaults and then up. II
folly entertain the idea general suspension The
try the city DOUBLE triple Of the amount Of Bank
circulation and the city indebted to the Banks than
twice the amount Of deposits.
The steamer Mobile to-day brought $50 600 in silver to
James Robb Co. The Cahawba due is expected
to gold from Havana There $eDC) expected
from government account and sight FUNDS
New York declined there may orders for Western
count though 1t Is ntimaed that Western banks order
coin from here York for their balances They and
they may provided they have balances here We con-
fdenty evident improvement in exchange cir
ces buyers and there sellers Last week
| It was perfect blank.
read Of much nonsense as we observe in the
papers about the want of funds to move the produce OF
the West to New York. old fogy times farmer had
or thousand bushels of grain to send to market he
sent IT, when Sold he received his money This great
about Of to facilitate produce moving - the
| sea shore is all fudge.
The fact Is the entire and West with New York
well honest merchants retrevaby involved
and nsovsn We that cotton will not sell in this
market we'll that the Of trade dealers and buyers
have no money purchase with that is not the fault Of the
rules trade IT, unfortunately parties have assumed labi
ties on produce realize out Of It, panic or pressure
ought be created from the system II the English and
French spinuers cotton, 1t does not mend
the state affairs it. If they do want it, they
will assuredly time given them provide the means
Of purchasing for bueedged and margin credit
gaddng abou Carondee that the
munty ruined that banks because cotton
inactive they have not the buy it. even at any
| price. Do you take, gentlemen operators!
Our banks which suspended last week, moving
quietly Mechanics and Traders is already in line and
might resume early day. however prudent
for the Directory defer resumption until the has
| tirely passed.
The following from the New York Daily Times, tells the
whole story New York city banks. On Wednesday
morning last ntimaon that the results would take
place. but leading uanciers regarded the
only report They will that correct In our views
at IL o'clock on Wednesday morning, the l4h October:
The Banks city ssT III @ ,ssss
he
s y aSSs in 0n snses ] sS
spread popular excitement The public gener
;s 1hs showed
ne hsI hd s
shbed But the Of The week was known be
ss e @
ten sn sai R Ths
e have sSosf
Clearing Asoeiaon, failed 70 Re apania
AMPLE and published this monny They did
stand to mutual At least one not w1 the
n @ IS: 6sy C.
he Merchants Esehs%gs, capital Sc50' the NORTH River
lfH%s Wss well ssl Known by
&c, IN
s Sss s %
the sstosg AN. oassd
s w e New e New
t
2ssssE
dspi e az q
ws 4 F Tn az Se
half dozen banks ceased excite surprise
large s"' so%es1s s sroSa SsnE
New pd oas tss
hss 1t @ h ssd Eo ae Ike
gold Each about
GUS The Republic and Metroposn were heavily run
SSass he Eat na
this afternoon only mea mot killed a. outright Th
though paid to the close Of the bank
shs nn he
enc who" letting do The On
s,%. R ar 1a TSs
The on Sd hFtsi ps ap Me-
believe III Butchers
is ~ The result O'Clock pointed to general declaration
@ @ ss er s
the bod city banks Of e sy Snes e
Funds and business transactions in every department
M a at wnr we % no the result
bank conferences going In. the struggle not likely
specie standard The q business Nv
House might s POSSIBLY have eastrohpe
ten days ago by Yielding to connses mat
minds in the Association
The constitution the State York contains the fol
clauses which apply to the present state of affairs in tina
city:
shalt not BE- Sesea Iy a eaeep oI municipal
IN s a e i under Ess
All LAYS nna | as TIL
in See''0' may 0e DEBTS 0 OF coePoaAToss
m Sec 2 Dues corporations shall be secured by such in
divdua liability OF the corporaOrs and other means as may
in prescribed by law o,non ,r,o.sn nrr,xrn
be construed to include I'll associations joint eompa
possessed by partnerships And all corporation
shall have The right sail be subject TO be sued in
IS courts in like cases, natural persons.
CHARTERS BANNING PURPOSES.
Is: The Legislature shall have
granting special charter for banking but corpora
associations may be formed for such purposes unde
general laws.
SPECIE PAYMENTS
Sec g. The Legislature shall have power to any Ia
sanctionng any directly indirectly the supensio
of specie payments by association corpoato
- issuing bank notes of any descrip ion
fE REGISTRY OR NOTES.
The Legislature shall provide by law for the regis
n of put in circulation money,
Of shall require ample security for the redemption OF the same
or specie.
RESPONSIBILITY OF STOCKHOLDERS.
Sec T. Stockholders in corporation and joint stock a
for banking purposes Issuing bank notes any Kin
paper circulate alter the hrs day
nnuay thousand eight hundred md nifty, shall be ndv
duH responsible their respective share
mi shares of stock such corporation association for hll
debts liabilities OF kind contracted after the said h
liz Of January Thousand eight hundred and hfiy
lie INSOLVENCY OF BINkS-rREFERESCE
re Sec IN of the insolvency OF any bnnk or
soao holders thereof shall be entitled to preference
payment all other creditors of such bank association
shall the duty of the Legislature provide ft
the organization cities and Incorporated villages and to
contracting debts their credit as TO abuse
contracting debt by such municipal corr
ratiols.
(, Rtbitm Of tbe A[arksts.