New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-09-24
Nsm 0rleans 4ailp Crescent.


Wfm Orlfans 4ailp Crtstent.
SATURDAY MORNING, SEPTEMBER a.. 1859
TALK ON 'oHANGE.
There was not much animation perceivable on the
streets yesterday. Carondelet street and environs
presented only feeble evidences Of general resump.
tion Of business In fact year ago, when the daily
deaths from yellow fever were seventy per day, there
was more general business doing than at this time
the sales Of cotton for the week ending tho 25th of
September last year were thirty thousand bales.
There were some remarks yesterday made about the
fine weather II tho weather Of yesterday prevailed
through the cotton region was equivalent to an ad
dion Of ten thousand bales Of cotton in addition to
the expected average productions. The talk is, that
there will be deficiency in some sections from last
year 10 Others that there will be as much cotton as
can be picked 10 others that the force and labor are
not ample to cover the bos as fast opened, which
leads to the talk that the crop will be more than an
average one provided frost does not intervene before
the middle Of next month. Estimates Of the present
crop have been talked Of We have been called on
for our views; in reply, we have to state that it is
too early for figures We shall not look at an arith-
metic before the 18th OF October, so we desire to
dispense with all nterocutions up to that time.
There were some remarks made about the presumed
oracle of the cotton trade in New York, Col Wright.
On the 9Th inst, he cooy asserts in his circular to
20 by the America for Liverpool the 7th inst that
the crop of ls5s-59 would be 900 bales, when,
il the circular in question pretended to give correct
Details it should have been 1926 900 bales or more.
II Messrs Wright Co. were not on the 9Th of this
month In possession Of information that the crop
would not exceed over $3.50, 900 bales, then they
sadly posted up, and deficient in general infor-
nation. Moreover, about one year ago Col Wright,
in his missves for the Liverpool and Manchester
markets, stated that the crop, which has now result
ed according to the tables of the oracle in 1851 47s
bales would be about $50 900 bales-only differ
ence of 600 900 bales. However, we can excuse the
Colonel on this point as there were many others who
made the same estimates. But the palpable conver-
sion Of figures in the circular of the 9th inst deserves
the strongest apprehension. 1t is immaeral whether
Bears or Bulls were to be served by the msapplica-
tion Of figures.
In the course of our talk about cotton the question
Of fire insurance cotton transported over or via
the Jackson Railroad was brought up, leading to the
following communication from the most respectable
source:
Eds. Crescent: Through the efforts OF the editor
of your monetary articles the cotton factors plant.
era, and public generally will, hope, understand the
position they occupy as shippers of freight over the
jackson Railroad.
Last year when competition became active between
thVicksburg packets and the jackson Railroad, the
iuducement Was offered to shippers of freight over
the road that the Company would, in addition to the
usual obligations OF common carrier, guarantee the
safe delivery of all freight in other Words insure
their freight. The consequence was, that cotton
factors Immediately cancelled all their policies of in.
mrs and rnnr hnpfp ctp
all believing themselves insured Apart from the
fact that shippers not in reality protected against
the dangers of transportation, there is another very
serious matter to be considered by the planters and
factors. The cotton which is received at the depot
accumnlates 80 often to reach two thousand bales
aud remains there for days at the risk of the shippers
for the Insurance Companies will certainly not cover
the risk in the usual way Orom the time of anding)
risks. How, indeed, could they? They are willing
to make their risks continuous but the assured must
on the other hand insure against the transportation
risks, as well as against fire in presses For instance
the merchant who takes river risks himself cannot
expect to obtain insurance against fire in presses
with the condition that the risk shall commence from
the landing of the cotton and continue until its sale
and payment That would be simply absurd. Hence
! contend that the consignee, being deprived of in
surance his cotton while at the depot of the rail
road ought to make the Company responsible for any
loss that may happen, in consequence of the Rail
road Company having received the very consideration
namely, the premium on the transportation risks. d
Our correspondent above leads off with proper and
satisfactory suggestions but he closes with remarks
untenable, in our opinion We regard and con
slider the receipts or bills ladng given by the Rail
road Company in the same light as receipt or bill
Of lading given by steamboat on the risk or steam
ship that travels the ocean. Why is the consignet
deprived of INSURANCE. at the depot Simply because
~ oOfri al
over the railroad the same as be would by steam o.
fatboat 1t is news to us that the Railroad Com
pany, for the sake of obtaining business agreed t.
assume all risks Of transportation, embracing fire
stealngs, and SO on. That is not to be taken int
consideration at this moment The Company, in tn.
autumn of 1858, passed resolution that it would no
be accountable for losses from fire after the first
December, 1858. To be plain, it was very impolit,
and wild course for the Company to assume fire risks
AS well might the Southern Steamship Company as
sumo all risks and be held accountable for all freigh
forwarded or shipped on board of its vessels.
We have not space for further talk on this subject
The communication above aludes to two Thousand
bales of cotton as being at the depot at time. W,
desire to correct this estimate from the fact there art
at times from five to ten thousand bales Of cotton
the depot in this city-two thousand bales and owe
bsiu6 ASSeisCu olscA Al dpPcdls Vic Ic
turns However, the talk is that two thousand bales
five thousand bales or more, would make great blaz
if it got fairly to going in windy time, and as tn
devourng element pays no respect to owners or thos
interested the general talk is that it is about tim
planters, factors and underwriters understood tn
grounds on which they relatively stand and we coir
eide with the talk. 1t must be considered that th
Railroad Company cannot be forced to assume risk
which the managers choose to avoid, and it is hope,
that our general suggestions will lead to settemen
and understanding of this question, and not wait til
destructive fire takes place, and then many worth
planters find their years earnings or emouments de
stroyed merely by the attempt to few dollars
The usual weekly report of the coffee trade from
Lonsdale Son Co.. which will be found in anothe
column, denotes very Moderate supply or stock O
Coffee One cargo from Rio is in the river for &C
count Of Aymar & Co., of New York. We learn tina
there are $4,000 bags on the way hither from Bait
more, SO there is not much probability of being de
prived of our coffee for the present. Prime coffe
was sold last year at this time in our market at IL
llc., or over 10 s9ct less than the present curren
figures.
The mails failed to day-that due by the jackson
Railroad from beyond Canton. We have to not
these failures too often. II there is remedy it ougt
to be applied. The most outrageous movement b
the Post.Ofice Department is the suspension of th
California mails from this city. Remonstrance woul
De useless, as we never knew petition or applies