New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-09-29

sos apparently liking their rates. these
covriux ouiy aoaa transactions Drawers o. sterling te
cs cvscted thu highest prices when uiso tne
PAT We purchases q sterling q the very
figure Of u yet nSure not 90 high a. some
pssaass have paid direct remitAnce-say 0sglo and
lIo There we're however, sales Of clear bills ~
akse Of the market premising
however the very few TRANSACTIONS below los
a,h one ,sre operation ll6 Francs To
vhas owing the large extraordinary demand for French
exchange difficult determine unless the very large i'm
portsons New York and At this port the foundation The
rate fsazcs to-day and 10 Oh Paris Direct
the banks which were drawing asking 5lss la. Other
grades ranged and bills on Bordeaux and
Hayre direct ranged 622tz@5 20
In the share and bond there very little doing
We oay heard Of shares Gasght Company at
l6O Holders The to depress the price
Of hank shares with than the attempt OF
Cont bauk bank Cont street. to depress
rates exchange under the expectation OF making
chsses at decline ruling rates will require
Of ton million bank with all Its capacities ana
4 c psrol the exchange market Of this emporium.
Tho following extract from letter from Europe WI 70 go
with some interest. regards the cotton Dang
NO appears know where VIII % 'ooSe hsrEs
will ever be organised and located we 40 NJ. o -
sa an c,on INIT we believe cotton bales anu nase ~
is,re 10 see combinations associations inssu
c;a,iv ana branch of trade at tho expense OF
ii BIO cotton. tobacco corn, OF ,h
o,orv vary veil now likely 70 move along ~i'h
~ conan cree OF world and 1t IS useless y pe
taking OF couceiving Of cotton bank we pnoisa 40
o viii the that the planters OF Tue ~
ALLIANCES their immediate tactcts n ew
.,s. .na Mobile We think plainly designate tue
.r n Tho letter which has been Published In Pp
d. .,ts Or one million o. francs being insesea M oon
secnrites al the South. Why, TINS Pa'.s
:, q, ynauId b. taken almost any time oy our local
..s.s. ard vhen this very small sum only Is thought
(. equal 70 ~
~ We think that this great european cotton bank
Vim prove very small undertaking Il no. ABSURD 10
: q. ,me day Of cotton securities that is planters and
naner being on level with Northern railroad securi-
m Il Il not snpremey ridiculous to place
nm The same low grade in the SCALE or talk Of them the
same day ~h Investments in Northern railroads But to the
| letter In question
Raussrs Sept of the cotton bank is
laia and a win doub. become imporsnt
southern take an interest in thu matter The
he SsnnE Is nss hKss cru
son Is ss s. said
b fixed moderate each and the character Of its invest
s. sss c oass
duces annually of 900 in the form Of
convertible article cotton may Sy good
nolsea ssni either
s q an M sis n place ass In
Or All oama district IN the Gotten oron
s'ai so ~a vii ss
on s bs ss s
sen. forward dresy ior {, sale
# the vii
last price Europe which price the
asSss r. nos y
the necessity Of continuing their sacrifices to tn
The nnsettled condition Europe, combined with the &C
yAncng power prosperity Of the United States giving
American Securities II TO be expecte
Safes having formed an ALLAH &c wit
an active committee Of brokers the Connen
shuud have securities and plantation sect
ra brought The whole affair turns few sin
ple Questions: the securities goods Are they convertible
thsy Can the investment be considered PERM
nentY OF expect TO divert TO the cntto
plantations Of South the entire destined for America
INIT seeks Its level and million
invested the South in cotton secuit 10
euual advant &C. compared with Northern
NAV depend II trial will be made There y nov at IN
moment Of confidence IN securities which once oo
high in Europe and this will incline many to seek the Sou
re man which the New Orleans banks went through u
had wonderful influence in Europe wherever
II fact known know iisey that an elaborate sa'
printed in German and English under the me 81
learn Also special delegate from Europe goes out soc
the the Of making the nscessai
preliminary arange and consult personally with SON
81 the leading The South 1t possible that cenr
committee correspondence organization en- bracng
more growers Of cotton, will be formed in AlAhau
and Georgia.
The communication which the above extract is take
addressed to York Herald and discern
the writer political economy at various times al
not unknown many cotton planters in Mississippi Louisan
and many merchants here and there
The great Cotton Bank contemplated will never reach
i l y4s