New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-01-03
CHrscssr OyyIc., No. % Camp street.

tural community, if you have sons, keep them at
home. There is land enough seeking cultivation to
last for years. Restrain the ardent desire and longing
for city life. 1t is the best of policy There appears
to be on the part Of many planters sons higher
ambition, greater aspirations than to to the
city and obtain clerkship. This is to sacrifice in
dependence, health and future success in life. We
have in city the material for all the clerks and
Office employees that will ever be required for time to
come, whose fate is cast in the Crescent City.
Notwithstanding the unfavorabe weather for the |
week and the Intervention of the day of fesvty and
pleasure, there has been good business done. |
Though there has been falling off in the quantity
of cotton sold, it is only one of the whms Of COM
merce. There has beenan Improvement in the value |
Of sugar, with steady and good demand for both
that and molasses The sales Of cotton for the week
reach 3s 500 bales-that is, for five days. Sales of
sugar. 5000 hogsheads of moasses, IL 900 barrels,
and 100000 gallons plantations. In tobacco there
have been some transactions. In -four, grain and
provisions there has been the usual demand for the
South, Georgia, Florida, Alabama and Texas mar
kets, throwing into circulation large amount of
money, real money In the concomitant branches
of trade, say dry goods, groceries, hardware and SO
on, there has been good business Groceries, par
ticuarly, have been brisk and lively Dry goods and
hardware, though under an enlarged demand, have
not been 80 active. In the local branches of trade
fancy dry goods and millinery with all the shops and
traders sales have been unusually large and an i'm
mense amount Of money has changed hands, In the
clothing, the hat, the boot and shoe business, it
would be difficult to enumerate the large sales In
foreign products there have been transactions to
considerable extent. 5000 bags of coffee, several
cargoes of SALT and other merchandise have changed
ownership; in fact, we are in the midst of great
business. I
To-day being holiday, has been carried out as
usual in this CITY, The banks and private bankers,
were closed. The insurance Offices were opened for
two hours several wholesale dealers but the
general inclination of the public being to exchange
the cvties and courtesies of the day. enjoy its fes
tvitie that towards noon most every store and office
we're closed The public Offices, such as notaries,
were not open for business consequently, we have
nothing to say about stocks, bonds, paper or ex-
change tonight Bythebye, our Ariel has just scared
over us, and dropped information that part of the
City Bonds sold two days SINCE have been resold at
IS and SO. and that the Directors of the Bank of
James Robb will on Monday declare dividend of
y cent out Of the earnings of the last six months,
leaving surplus besides.
In summing up the exchange operations of the
week, they have been in the aggregate large, fully
two millions and half of dollars. The week closed,
however, on heavy market, with buyers having the
call.
The first annual statement of the Crescent City
Bank will be found in another column It presents a
very atterng condition of the institution. Although
the bank commenced business in October 1857 it did
not get actively into operation till January and Feb
ruary last. dividend of five y cent. has been de-
clared, after which there is supply of one hundred
thousand dollars and over which will tend to make
up handsome reserve fund. It will be observed
that the discount line of the bank has reached over
one million and quarter of dollars, ranging since
the LIST of February, 1858, from three quarters of
million, and not one dollar Of suspended debt in
cured This is another proof of the punctuality and
soundness of our mercantile community. Assuming
the bonds at their par vaue-though the State bonds
are worth nearly that, and the City Bonds improving
daily profits for the year IA s2l00 p cent,
say Is % cent The bonds drawing % cent. interest
their face and the interest paid promptly, it is
safe to call them par 1t is contemplated we learn,
to increase the capital stock, as there is large
amount of unemployed capital here, which, it will do
well to induce to have permanent locality.
We have noticed the proposals of the President and
Directors of the Mississippi Central Railroad for sale
Of their bonds. The amount required to complete
the sxtysiX miles of the road, or place it in running
order, is only three hundred thousand dollars. This
paltry amount certainly ought to be realized in this
market at this time. As we have often intimated be-
fore, Northern capitalists or majority of them,
have very queer ideas of Southern securities. That
however, is neither here nor there at this moment.
We have not once Travelled on this road and all
we know regarding it, is from general talk. We
therefore, conclude that these bonds ought to be
taken in New Orleans; and it may be very easily
carried through by fifty sixty of the cotton factor
age houses who connected by the strongest bust
ties with Mississippi taking from three thousand
to ten thousand dollars of the bonds EACH The money
will not all be required at once, but at intervals
through the current year. We think good many
Southerners had better take the thousand dollars or
more which they spend every summer in Northern
States on freesoil abolitiondom and in Europe and
invest it in these bonds. However, it is hoped our
cotton factors will come to the rescue. We know
that many of them can do so. ~
To show the hostility and envious feelings against
New Orleans and its rapid strides to. influence and
prosperity, we take the following from the NewYork
Journal of Commerce It is addressed to that paper
in the shape of communication. Mr.. Observer need
not be under any apprehensions. The Louisiana
Tehuantepec Association is a fixed institution. He
calls Minatitan small town. That is not denied.
So was the city of NewNork small town. but nature
preceded its sallness by giving it central location
for various sections; SO nature has conferred on
Mnatitan great advantages for the section of coun
try Of which it is to be the great center. There is
great deal of envy, much irony and great deal of
sneerng in Northern States against Southern under
takings and Southern enterprises. This alone ought
to induce all classes of citizens to come forward
at once lend their aid and advance their money in
furtherance of this association. But to the commune
cation which has drawn forth our remarks:
5TEHUANTEPEc ROUTE TO CALIFoRNIA.-The pub
lie not very well informed about the facilities for