New Orleans daily crescent., 1859-11-14
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MONDAY MORNING, NOVEMBER Ia, 1859.
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"ah the arrival Of the middle Of November II /
would be supposed we should have a great revival
IN general trade, but with the exception of contnr
ed large sales Of Gotten, with more EXTENDED
transactions in sugar and molasses, an unexpected
apathy appears to prevail. True, we cannot ex-
pect to have the pleasure Of chronclinu the raraI
appearance of our planting friends on our streets
They are too much occupied in gathering the I
crops to leave home at present. There is not the
least indication Of rise in the great artery Of our
intercourse with the INTERIOR Red river and with
the drouth still prevailing, it is hazardous to antici
pate any business of consequence from Northwest
Louisiana and Eastern Texas for weeks to come.
Some few hundred bales of cotton find their way
out of both Ouachita and Red rivers at almost un-
heard-of costs Of transportion. It will be policy
for the planting interest to push the completion
of the Vicksburg and Shreveport Railroad, hasten
forward the Southern Pacific Railroad, and the ad-
vantages Of our great market could be realized at
all seasons Of the year.
The most important feature in the weeks trans
actions is the steady enhancement in the demand
for money at our banks notwithstanding the very
large sales of cotton, which have reached IS 900
bales making for two weeks 1873 900 bales against
600 bales for the corresponding two weeks last
year Their line of discounts has increased during
the week over half million of dollars.
In the general retail local trade sales have been
confined to mere shopping operations. Stocks and
supplies OF all kinds of merchandise are large and
adequate to any reasonable demand. But the fact
Is SIMPLY this, that SO many dealers and traders in
I $haa
the country have been Northward, and laid in such
large supplies that it will be some time before thew
VIII be required to replenish. Moreover, most all
the planters who have Travelled the past season
have purchased at distant places, nerlectinp and
overlooking the claims of our resident community
and city, where all their productions are disposed
and which ought to be the mart for all their pur-
chases.
During the week the usual intelligence from Eu-
rope has been furnished by the arrival at Quebec
of the steamer North American, published in our
issue last Monday, and on yesterday the Hungarian
of the I'd inst. By both arrivals the commercial
advices were of the highest interest to those en-
gagged in the great cotton trade. The Middling and
clean Orleans being quoted at Z 7-I6@7ad., show
ing an advance of I@5-16d since the oath of Octo-
ber. In fact, arrivals of the new crop of Orleans
in Liverpool previous to the 2lst of October were
sold on the basis of I'D. for Middlng, which will
leave fair margin on several shipments but not
sufficient to reimburse for losses on the lower
grades now unsold and unusable. The financial
intelligence vibrates, and the London money mar
ket appears to be moved by every breath of the
continental monarchs and despots. As for the
political dispatches, they are of every variety.
First one thing, then another, then back again. so
that it is very unsafe to regard them with only a
moderate degree of credence. The last regular
mails at hand those by the America Of the 22d,
which were received in part to-day. The private
correspondence adheres to caution and discreet
ness on more points than one.
The Money market closes this week with good
supply outside Of bank. But some Of the banks,
however, have had large calls for discount. To-day
they were heavy uptown. On Thursday the Ajax
run down close on line, and dscounting literally
that day and purchasing exchange, was thrown
out of line on yesterday, Friday) and to-day was
still out of the amount of $4,000. The State
Bank also run down to s3sO,OOo The Citizens was
well up, being $6s9,O0O above, and the Canal was
up to the large amount of 81, ,ls3,OOO. The Free
Banks are all in good working order.
1t is very doubtful if the Ajax will be in posi-
tion to discount more than trife on Monday next,
because if they are out of line that day the man.
dators will be amenable to the penalty of 500
| each, to be recovered and SO on before any court
of jurisdiction. 1t would be funny lawsuit to
have the State sueing each mandator for 800, for
having evinced little generosity and kindness in
extending aid to some good citizens who desired a
| little accommodation. ~
The Return of the Banks this morning as made
to the Board of Currency, show the following
| chanpas for the yyeaE.