New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-10-17
Neu 0rleans 1aiIu Grtsterd.
THE COMMERCIAL DEPARTMENT.
Nsn ORLEANS Nlousu Ylarktt.

si,r .ta CREscksr OFFICE No. 70 Camp street, I
uaH, .a cav Saturday Evening, Oct II, 1851
Undisuayed by panic pressure By hs
icues consequent the suspension of three of banking
Dsutions and the great depreciation in value OF
,e closes commercial and financial circles under
greatly state Of cheerulnes and confidence The
1sees cause,ess and might add remorseless
chief passed away Commercial history does
such unprecedented character and which stood
30 successfully and promptly. The coming week will
believe with largely increased confidence Already
we the harnger general Improvement The public
private dispatches day from EewYork Of cheering
indication, the first that have to hand for weeks The
observed the of every merchant
early hour given that the Bank Of james Robb
OF the Banks which has stood the crisis weD would
at sight New York the reduced rate Of
afterwards followed by other drawers being willing 10
sell slight discount The machinery Of finance being set in
motion by these movements though only limited seemed 10 act
like charm Cotton began TO and write at this time
under peasurae feelings than have for weeks past
Money Of will be difficult Of unless at most ex
oonate rates Of interest for short time longer The fond
sncpations OF brokers' and few capitalists who were pre-
pairing depress the notes the three Banks and then purchase
them at their rates. likely be blasted Those good and
welwhers Of credit and faith who contemplating the
opening Of brokers Offices need make further
TONS Their blocked The Bank notes = question will
all be redeemed by the Banks themselves without the nteren
ton of the Stale authorities Our courts ago. decided
that protest Of obligation does denote carry with
the faint of insolvency. that the drawer Of be
sidered nsolven distinguished judge,
the ench decided this which afterwards
confirmed.
The weekly statement Of the Banks had all been made to
the Board Of Currency this evening The business has
been heavy and the fierce battle which has this week
with the Banks has prevented the officers Of all from making full
returns The smoke thereof must cleared before
come TO figuring AT the time give few items Of
interest," The report Of the Citizens Bank made to the
Board shows that has paid this week in gold and silver
the amount Of million aed eight Thousand dollars
The State Bank learn paid four hundred and fifty
thousand dollars The Canal Bank paid nearly hundred
nd rt
James Robbs Bank have paid out millions six hundred
thousand dollars and with all this tremendous there
have only been failures of about eleven hum
dred merchants and traders.
The of this week remarkable in several
They manifested in by the action Of depostos Of
the Banks The Mechanics and Traders Bank forced to
the pursued by depoos only who drew for
than Of the amount deposited This was not done
because the deposits required because majority Of the
depobors Of this Bank not in want The Canal Bank was
relieved by its depostor the Of hundred and
sevenve thousand dollars The Louisiana State Bank in the
or about four hundred and seventy thousand doa
The Citizens Bank the hundred and seventy
thousand dollars The Union Bank the amount Of half of its
deposits The Bank of New Orleans about the
tion-that u.s. ore.hal The Bank of James Robb only lost
about forty thousand dollars r.-E
We consider the troubles of this week with Banks due to
the of depositos We willingly admit that Of
them merchants active business who desired and wanted
their But there majority who drew their balances
that not in the OF whom have received
avos from time time particularly from the Citizens and State
Banks In fact gold has been boarded by parties expressly to
take advantage of the crisis and results through which this
community has passed The Shyocks Of the day likely TO
be disappointed Can inform where two and half
millions of gold has gone to: 1t supposed the Bank Of
Louisiana had received large SHARE this is confirmed
because its deposits have only increased $4,000 for the week.
is doubtful question whether majority Of dormant depos
Of essential Bank and be well here
after for Bank look into the views of Of
their voluntary deposors Every dpoor when he into
Bank open account does with his open wise
the bill holders involuntary creditors shall be first paid
ded for There will be necessity for norcing this section Of
the statute because bill holder safe Regarding depo
or in general in July, 1856 follows in publish
ing the annual statement Of the Southern Bank
From the of this Bank is manifest that large
depos. line is not Of that essential to the Banks
uctuae much from week to week. that there great dou6
the deposit line Of Southern in
Subject G Of there is nothing to confirm the e
further proof of this in the movements Of one Of thu
We think remarks than sustained by the actor
Of deposors this week They appear to have taken alarm
verest that enansted from body of seneess
idle tatlters and agiator In fact of depostos uch
OF Banks have ha in length from here Boso
not worth twenty cents to Bank This is about as
approximate value be placed them at this time eA
cepting those who from day to-day compelled to he
funds.
hope it will not be days before all will be in smoot
, | water.
The New Orleans paying its five and ten dolla
to-day By its statement it appears to have nearly su
specie and specie funds hand redeem its entire
culaon 1t will in all probably be prepared to resume bushes
this week, and fall into line again.
Among the Geographic dispatches this evening
nouncng the failure of the firm of Frost Forrest New York
1t had large business connections in this city.
The general aspect from New York is much
favorable though there may be few more failures.
The receipts of coin and bullion this week have Teen as o
lows
Bv the mshin Texas from Vera Cruz minimum, S4l o.
By the steamship Robert Waterman, from Bazos... 2as
By steamer Eclipse, from vicksburg gold to j. kobb
By steamer Natchez vicksburg gold to j. Robb
BY steamer am from, Mobile TO 100
sundries via the river $40
Previously received since til. Is. of ssp,sns., ~ ss
receipts the LIST of September 1s57. $3.50 q
Receipts same time last year 240O
We grafd to learn that the panic in sister cit
: Ofobie) passing off and that it has been lightly felt TIL
and Price Current of Saturday the 18th
says:
During the week financial affairs have been in an unsaisa;
Of he North and West f han Pefor
; % i Ess; r. S
s snd be sf
see the oe! Sho
But two Banks Rank Amersa and Chem
s9
g Ss out
s Ms ss ass p pe as wAe
me-
city and fidelity Of the managers the institution
Of I to ANY spG na
extent and will increase the amount as its collection
tied yesterday the Southern Banl
s w Which sy yns n e ss
much for the parie and they retired dcomhs