New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-05-27
9em 0rleans 9aiIp Grestsnt.
FRIDAY MoRNINg. May 81. 1s6a.
Mtu 0ritans aHg|0itv NIarkst.
cREscrsr oyrles. No: 70 Camp street,

gsb 0ritans D0Htu HlarAtt.
9 2snss., sG s,, e Camp vs. &
Nothing Of an important character turned up to-
day nor turned down in the money market. There
was, however, considerable talk about Tehuantepec,
the amount of bills running, drawn here on the
agents in New York, and many remarks of this that
and the other The officers of the Company here
have, it appears, drawn exchange to considerable
amount the agents in NewYork, about s40o 900 of
which are running to maturity. These bills have
been purchased by parties who can very well stand
any loss which may arise. 1t is, however, to be first
ascertaned whether any actual loss may accrue The
disturbed and distracted state of Mexico has been of
serious injury to the acceptors of the drafts in New
York. There has not been for long time any I'M
dertaking connected with foreign countries Of so
great importance to the future of New Orleans as the
Louisiana Tehuantepec Company. It would be some
thing Of stigma on the escutcheon of New Orleans,
should this great undertaking fail for the want of
few hundreds of thousand dollars. The property
holders, propretors and owners of real estate in
city could, if they felt disposed, contribute suf
clent sum to prevent the transfer of the charter and
privileges to other parties If it should fall into the
ors, they you'd close the concern at once and throw
all the business and travel to the Panama route or
via Nicaragua il this latter route is likely to be
opened again.
The European mails by the Canada were received
today. The correspondence covers the market move
ments in cotton at the lowest figures of the season up
to the 18th inst The Asa's advces of the l4th came
through at any early hour and are commercially and
Ero so1l,y l. II
ton was steady at prices but it is difficult to
understand the figures as the dispatches differ, but
Middling Orleans is supposed to have closed on the
14th at 63d.
The market to-day was not much affected by the
accounts. There is very little cotton in first hands
for sae and for the present. and on what little is to
be received, the influence of Liverpool figures will be
slight, very slight
There was very little done in the paper market to-
day The banks had as much paper offered as they
wanted, both of short and long dates. The supply
continues free, though the amount is daily decreas
ing.
In stocks and bonds there were no transactions to
our knowledge. We do not say that the Tehuantepec
disaster had any effect on the market, vet it was
manifest that holders of money were disposed to de-
fer operations for day or two but the fact is sim
ply.this, there is very little paper offering in the
market of long dates, and paper having only three
four and five months to rum is not wanted by buyers
as the proceeds could not be renvested in the months
of August and September. There were sales of Jan
uary paper to-day at get, and sa@9 5ect for
March, for good Names There has been very little
long dated paper taken by the banks this week.
Exchange moved along on the SO so-ish order.
Sight drafts on New York were sold at premium
the counter rate at the banks was J. with fair
amount of transactions for the time of the wear,
Sixty days sight was taken at get. dis. We quote
the range of the market from l, HOLE dis. Sterling
was weak to-day. Dealers were only willing to paw
1092@ll0 for clear bills, at which rates there were
sales. We quote extremes from 1893 to 1lO40a1lOs.
Document bills lo9@lo9i to 1881. Flat at these
figures. Francs quiet and heavy. No alteration in
prices Bank drafts 507a@5O5, sight, with the mar
ket ranging from 5.o5@5.l5. Very little demand for
coin at the counter of the banks.
COMMERCIAL.
The Committee = quote Fair Uplands eld, Mobile
The bank rate is raised to Al f9ct out-ofdoors the
tendency at the close is to greater ease.
5000 to 100000 bales is the current estimate
of the American crop.
The American cotton at sea for this country is
estimated at $50 900 bales.
The weekly average delivery of American to the
trade during the last six weeks is &c, obs bales.
The actual export of the week is 1858 bales, con-
sisting of 22ll American, II Brazil, 24s Egyptian
and 1855 East India.
The following has been the daily report of our
market:
On the Goth ultimo, 1000 bales for the trade !: on
the 30th 1000 bales 1000 to spectators and export
ers-prices again rather in favor of the buyer
on the I'd inst. 5000 bales to the trade. The Canada
reports an advance at New Orleans and unfavorable
planting weather. Receipts keep pretty well up,
and exports for the week are very heavy to this cou
try. Quotations from America show fully I'd. " ID
loss on today's currency. All accounts relative to
supply and demand ignored for the present, and
the panic is unchecked Prices are generally report
ed fully I'd. lower than on Friday on the Sd, 1900
bales to the trade. The inquiry has been quite tria-
ing at the same time, in sympathy with political
affairs, the panic is in some measure checked, and
to-day we cannot quote any further decline On the
4th 1000 bales, 1000 to spectators and exporters
the market to-day has been steady, with pretty
general trade demand for small quantities On the
18th, 1000 bales to the trade-our market opened
heavy, with an anticipation of further advance in
bank rate and which by an advance to Al 5Sct. was
fully realized. The trade attendance was pretty
good, but we close spiritless, without more DISPOSE
500 bales
The evil influence Of war is already felt in rapid
advance in the necessares of life and further rise
of yet in the price of money and for time the
supply and demand, and placed in some measure on
the uncertain basis of the capability of holding to
meet the slow requirements of the trade, and until
our stock begins to Decline all calculations as to the
course of the market will be hazardous.
Russia denies the alleged secret treaty with France
and one great advantage of the dissolution of Para-
ment is the pledge to the neutrality of England given
almost universally by the members Of the new House
of Commons.
The market closes with more inquiry and less pres
sure to sell at the decline quoted-say about Id 10
Id.
The sales to-day will reach about 1000 bales to the
trade. ARMOUR & Co.
From R. P. & F. Preston's circular of 9th May:
Weekly Consumption of Cotton to 9Th Nay.
SS,bSS 50 5l3
nraz,, 4llb ASP
East lhala 2tGSf 936
Total number of bales ............40,itS 1851
Sebieb If TIE Marktts.
CRESCENT OFFICE, No. 70 Camp street.
Friday Morning. May q, 1859. {
COTTON The market was brought to stand at
m early hour in the day by the receipt of the Asa
accounts and the sales were confined to
about 200 bales. Our quotations are nominal