New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-12-09
9leb Orleans .floptr gflarAet.
CRESCENT OFFICE, No. 10 Camp street,

in paper had nothing to do nor could they find any
thing. Choice and selected commercial paper will bt
rarity on the market tomorrow. Is there no way
in which one, two or three hundred thousands o.
paper could be made at this moments Capitalist;
and dealers in commercial and mortgage securities
viii hardly be able to make expenses, unless some
thing should turn up to disspate the great apathy
and lethargy now prevailing. We heard Of no sales
of paper to-day worth recording. The banks take all
the short dated paper Gold continues to flow in or
us. The next steamer from New York (the Empire
City, has on board $35OOOO for the Citizens, the
the Southern Bank and Bank Of James Robb. There
may also be other sums. The Cahawba will alsc
have a further sum- The receipts of this month will
reach two millions of dollars, Perhaps the Ajax will
bring up the rear in good round sum if it does
not, why the credit will go to other sources.
The weather turned cold this morning and gave
indications of change to something pertaining ofthe
Arctic regions which will favor the sugar planters.
The impression now prevails that the crop Of sugar
will reach 325 900 hogsheads and we may expect
money to go begging, with $4,000 hogsheads sugar
and 200 900 bales of cotton, unless some specua-
ton should be started of which under real con-
sentative banking system, there is no probability
There has been almost enough cotton received from
Northwest Louisiana to relieve half of the indebted
ness Of that section, and it is hardly necessary to
affirm that Mississippi is paying up promptly and
we'll Some few planters are under the effects of the
overflow. OF course justice and liberalty demand
that their misfortunes should be ayorably considered
The Exchange market moved along quietly to-day
We note some sales Of clear Sterling at IOs8 which
is the highest rates. descending to 108 a 1919
Bills with documents without change, and range
from 1863 a l07. Francs are held too high for
Dealers and taken for remittance only at $3.50 a
5.23l Dealers will not touch at these figures The
banks to-day hold large balances. The market was
heavy all round, excepting checks on NewYorll, over
the counter, which were in request at a discount
and outside at ! q per cent. discount. There was
no change in time bills, only from languor to torpid
ity. There were sales of sixty days sight (aken by
the banks) at from Ii a II and per cent discount,
and some other transactions at n a q discount
The market closing very heavy all round.
In Stocks there were sales of 100 shares Southern
Bank at l05 40 shares Bank Of James Robb at SOC
50, and so shares Crescent City Bank at lOl, The
good feeling towards all stocks still continues
The annual election for Directors Of the Southern
Bank was held to-day The following gentlemen
we're returned as Directors for the coming year
Messrs. Frederick Rodewald, Gustaye Miltenberger,
W. c. @. Claiborne, Ferdinand Rodewald Thomas
Byrne and Thomas Layton. Thehalf yearly dividend,
due next month has been made some time ago and
awaits the stockholders at the usual time of payment
next month,
Several of our cotton buyers continue to receive
complaints Of false packing. In addition to what we
published a few weeks since in regard to cotton
bought here last spring for account of New England
factories, there charges from other quarters We
have however confined the publication Of charges to
those enanating from the Lowell factories of which
more have been received within few days past, and
some Of the officers of these factories intimate that
they are sensitive about opening their cotton for fear
Of further plating and deception in packing and
baling.
Heretofore, before any reclamation would be al
lowed by factors Sellers some Of them required the
affdayits of the spnners their overseers, and the
sellers at the port Of debarkation and all these GER
tifeates sworn to before the American Consul at the
port of delivery. Some of these recamations have
been settled honorably by factors and sellers without
having reference to the Chamber Of Commerce other
cases have been submitted to the Board, and dec |
sions rendered in nearly every arbitration against
factors. Other cases have gone through our courts
and decided in favor of the purchaser. There are
cases now pending When this question is considered
in all its bearings is astonishing that there should
be any doubt in the matter. If a sale is made by
sample the article ought to comply with such sample
The case which we publish below was brought be-
ore the Chamber of Commerce of this city in 1913.
The Committee Of Arbitration being composed of
dessrs. Beck, Barber Brazier, S. L Colt and H. c.
5ammacll:
BLANCHARD, EDlNEE & co. VS.. RUFF & NEWMAN.
rms In Is claim for the sum Of S493 3s, being loss
N thrtynine bales cotton, sold by the defendants to
Plaintiffs as sound and merchantable hut which af.
er being sold in Hayre and opened proved to he
alse packed, the outside Of the bales being plated
Yer with good cotton, and the inside filled with an
Inferior quality.
The cotton was consigned to Ouesnel, Frerps &
o. at Hayre and the certificates furnished by them
nd exhibited to this committee clearly identify the
ales as those bnnght Of the defendants, and fully
the loss.
The defendants object to the claim, principally on
he ground that a sufficient price was not obtained
Of the rejected cotton; they state that it was picked
rom the field in August and September, being the
eason When the best and finest cotton Is produced
nd assert that it is impossible the bales could con
nm quality that would only command the prices
lowed for the cotton in question They assert also,
hat the quantity OF inferior cotton must have been
messed at without proper examination, founding
MS assertion upon the circumstance of the certiti-
ates stating that some Df the bales contained nine
enthS OF inferior cotton which the defendants saw
1uld not have been the case without its being dis
1Yered here before shipment.
To these objections the committee have gfynn doe
,nsideraton, but they only assertions or snppo
lions, unsupported by any evidence, and cannot hp
lmtted 20 nvalidate the clear and formal tpst !
ony which the certificates from HaYre contain.
ley therefore award that the defendants shall nav !
the plaintiffs the sum OF S493 38 claimed ana that l
ey shall also pay the costs of this arbitration .