New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-01-14
gth 0rkans 9ailu Grssttnt.
FRIDAY MORNING, JANUARY IA, 1859.
Nsm 0rleaus Montg Hlarkst.
caEscEsr or.1cE; No. 20 Camp street. j,

CRESCENT OFFICE, No. 10 Camp street
Tharsdsy Evening, jan il, isss.
The weather to-day was soso-it is very inmaterial
regarding it, If it is anything halfway, business Is
not much interrupted II money matters are to be
carried through, clement or Indictment weather will
not interfere. We have had pretty good show Of
wet weather this week. but it has in way retarded
money matters or sales of cotton.
1t was manifest to-day there were larger calls for
money, and though the most Of the banks have had
calls fully up to and beyond their income, and have
responded to nearly all, yet there is disposition to
press them for discounts not based on legitimate
operations, Of which we shall have occasion to speak
hereafter Money, however, is plenty, and to be re-
allied at the lowest rates strictly commercial and
mortgage securities.
The managers Of the Mechanics and Traders Bank
have in their proposals for an increase of the capital
stock Of the bank, met with great success All the
increase, say $500, 900, has been taken by the old
stockholders, with the exception of few hundred
shares held in New York, which will be covered ss
soon as heard from. The stockholders are required
to pay up the amount Of their subscriptions on the
31st inst as will be seen by notice in another column
If the Northern stockholders do not desire to avail
themselves Of the privilege let them decline at once
there plenty Of residents who are DESTROYS to
subscribe.
The exchange market opened heavy this morning !;
it dragged along in favor of buyers and closed with
much larger offerings than could be covered. The
telegraph advces Of yesterday from New York quote
heavy and declining market. We note sales Of
Bank checks to-day over the counter at discount
the range, however, is from a s-some banks sell
ing at one figure and some at the other Outside the
rates ranged from q and discount one to five
day c;nht %roD, m I
days sight at II q L. discount sixty days sight, II
@ II and q II discount at the same time there
were purchasers at u q II for special remittance.
Foreign exchange was heavy and likely to continue
so for at least short time. Sterling clear bills, 1919
a los and 1851 Bills with shipping documents sold
at 107 and l07s-we quote from 1861 a l07A. There
is very little demand for remittance, as we do not
owe our transatlantic friends only small balances,
and they will be less before they are larger Very
little doing in francs. Sales on Paris direct for the
best were made at 5.232, and special operation at
5224. The range Of the market is from $50 a 523i
Stocks have gone up SO high that there is very lit
tie nducement for capitalists to move. The sales to-
day were AZ shares Gas Light Company at 100, so
shares Crescent City Bank at 1929 and another LOT
on P t. and some other shares in course Of negotia
tion
We learn that the President and Directors of tho
Mississippi Central Railroad Company have com
pleted arrangements by which they will be able to
realize all the funds necessary to complete the gap
beyond Jackson by October next. Of course, this
will prove highly advantageous, and extend the bust
ness Of the Jackson and New Orleans Railroad.
Every branch of mechanical industry in New or
leans is sure Of being well rewarded, though many
private undertakings, in the way of manufacturing
purposes have fallen through for want Of means, and
| several organized associations have become bank
rupted, as much from the lack of patronage as from
want of proper management as well as many Of ON
planters buying machinery and all plantation nipple
ments in distant places, overlooking home interests
There is one interest developing itself in the Crescent
City, which needs the fostering hand of our capital
sts and one which will go far in establishing the In
dependence of the South-that is the branch of ship
building. With forests Astounding in all the requisites
of materials of every kind, we send North to built
ships and invest money. Now, is it not supremel,
ridiculous to carry the live oak and pine timber
Louisiana and Mississippi to New York, Boston
Portsmouth and to the numerous ship-yards of Main
to build vessels when the same timber and material
can be put together in Louisiana at about the sam
cost? There several ship-yards in the neighbo1
ing village Of Algiers, where work can be turned Of
equal to any in the world There are also yards TO
building vessels on Berwick's Bay, and on the Bayou
Teche, located in the midst of live oak and cypres
forests and though our underwriters have been know
to complain of steamers built entirely of pine, yet
should like to know what is harder and tougher thai
pine knot.
Among the private organizations deserving of no
tice is the Crescent Dry Dock Company; though or
ganized with powerful competition, the semiannua
statement is favorable. appears the entire capita
stock is paid up, and the amount of earnings is within
fraction of Is per cent. of the amount of capital
All our associations well as all our own mechanic
and artisans, are entitled by every consideration
justice, equity and regard for home interests to TIN
immense patronage which is conferred on d'stsn
| locations.
Statement of the Dry Dock Compry
| December 81, 1885,
| ASSETS.
Cash hand 81; 8
|