New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-06-18


Tho chief talk yesterday was on the activity of the
cotton market 1t was not caused by the last foreign
sdvices but brought about by local causes the main
one Il the increasing damage from overflow. To
understand the true position Of the inundated sec
tons, must start from below Memphis, on the east
side Of the Mississippi river and estimate the damage
in the counties Of Tunica, Coahoma, Bolivar, Wash.
ington, Issaquena and Sun Flower, n Mississippi !;
and bordering the river on the west side there are
Phillips, Desha and Chicot counties in Arkansas,
with Carroll Madison and Tensas in Louisiana. Here
are twelve districts all more or less under water.
Casting aside the interior counties the state Of affairs
is indeed appalling. Our readers can form esti
mate Of the damage, when it is considered that
of the most prolific lands in the country are within
these named counties.
We published two days since the total receipts Of
cotton at all the ports There are grounds for esti-
mating that the receipts to the 3lst of August next
will not exceed S,O50,O00 or s075, 900 bales. The
stock sale here now is SO reduced that future adj
vices from Europe can influence it very slightly
either one way or the other, Bear or Bull action.
The prominent subject of talk yesterday was water.
We have heard enough Of water lately and the tee-
graph brought some wonderful dispatches, many of
which are of the Munchausen order. Two days since
the city of Cairo reported to have been washed
away by the mighty Mississippi. Yesterday the re-
ports that the water very high and it might
be carried away Then we heard that the great Hi
nois railroad was entirely damaged and the trains
suspended. Now we have it, that there was no
damage. The telegraph must be conceded TO be the
vehicle of mischief; in fact, of the dispatches
which were forwarded here during the late excite
ment, made our hair stand right up and knocked our
old hat off our head We were not aware that we
had resided for two years in such an internal
place as the telegraph has made New Orleans to be.
The talk is, that the telegraph is something of ma
chine that it has been productive of about as much
evil as it has good.
The general talk last evening was that the advices
regarding the water not of an unfavorable char
acter in fact, the warm weather and extreme heat
at times absorbing water at rapid rate and though
the water still continues to spread through the seve
raj creyasses the belief is entertained that we have
received the worst.
Business on the levee and landing, though declined
largely, is yet above the usual summer standard.
There is great quantity of tobacco arriving daily,
with other stuff which is keeping our merchants CON
nected with the Western trade in some state of ami
nation. The impression prevails that our Western
traders have done good business this season. II
they have not they ought to. Sugar and moasses are
arriving daily in fine we approaching the LIST OF
July and the entire crop of last years sugar and mo-
lasses is not yet in market 1t has been coming since
the LIST Of November last, and the talk is it will all
be in some time during the summer. That is our
opinion. Though there are some holding for higher
prices and waiting for crevasses we hope they
may be disappointed in the latter.
The Governor of the State has issued his proclama-
ton, declaring the ports of Rio Janeiro Vera Cruz
Tampco and other ports to be sickly, and command
ing all vessels bound hitber from those ports to per
form quarantine and so on. A very heavy tax on
commerce is this quarantine.