New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-04-25
gtm 0rleans Bulb Crestent.
MONDAY MORNING. APRIL rs, 1859.
geb 0rltans Nlontp Market.
CRESCENT orsIcr, No. 70 Camp street,


CREscEyT OFFICE, No. 10 Camp street.
sa' urday Might April "a, 1850
During the week now closing onr market has been
influenced by the foreign intelligence up to the 9th
from Europe. 1t has, however, only operated on our
great product, cotton. The quantity on sale is 80
limited that nothing material will result from the ex
pected war or disturbing advices. Judging from this
it can be safely assumed that large share Of the
gigantic trade in cotton for three months past has
been based on speculation and ideal tendencies This
is evident from the effect false and shameful tele
graph dispatch, forwarded here on the LIST of this
month, stating that the President of the United
States had received intelligence of the commence.
ment of hostities in Europe. This dispatch had 20
much effect that it reduced transactions in cotton
from 5000 bales daily down to 500 bales for the day
This great market ought not to have been Influenced
by so trifing an attempt to hoax. 1t proves concu
sively that theoretical views have had great deal to
do with the cotton business of the season. The
planters and factors have, however been the gamers
having obtained good prices and, moreover, realized
the money and proceeds in full The stock on sale il
SO much reduced that any depreciation in value will
have moderate effects the general business of the
season.
Notwithstanding the war accounts, the tobacco,
the sugar, the produce, the paper the money market
and all other trades have moved along just as though
no steamer had arrived from the trans-A tlantic
marts.
The most important events of the week are the
crevasses and the breaks in the levees along the Mis-
sissppi river This season is destined to be as fruit
full Of crevasses levee disasters and oyerows as the
year 1850, when there were about q dozen or more
foundations between New Orleans and the mouth of
the Arkansas river. The levee in 1850 gave way be-
low Bonet Care, in the same neighborbood that it
did on Tuesday night last. The crevasse at Twelve
Mile Point or Sauves was in ls49. This overlooked
the back part of the city, as low as the old Canal
Carondeet street. the water coming up to the corners
Of Canal and Baronne Streets In the year 1916 there
was crevasse at Macartys Point then plantation,
now the City of Carrollton. The water through this
break overlooked the back part of the city, coming
up to the corner Of Royal and Canal Streets There
were not however, at that time many buildings below
Rampant street. These the only serious inunda-
tons which have occurred to the city within the pre-
sent century This, of course, refutes the many re-
ports of letterwrters from here who fancy our city
has been subject to inundation year after year.
In the general wholesale and jobbing trade the
week has been marked with fair transactions fully as
large as in the corresponding periods of former sea-
sons, and in some respects more So The trade with
Northwest Louisiana and Eastern Texas is increasing
greatly. This trade all be secured by lberality,
with credits allowed the same as in Northern mar
kets. Our merchants, jobbers traders, one and ALL
are, it is presumed aware of this.
The local and retail trade of the city is diminishing
daily. 1t is our province to assume that the retail
and fancy trade has been highly profitable this sea-
son it has not, it ought to have BEEN particularly
the retail dry goods branch of the augmenting bust
ness of our city. The greatest injury the regular
trade of our city suffers is from the many adventures
(they call themselves merchants) who yearly come
hither in ocks, with rejected and cast-of stocks of
merchandise, fondly expecting that the good den
zens of the South will eagerly purchase at profits
which will enable those trading adventures to real
ze a few thousands in few months or in two or
three years sufciency to enable them to return to
their original localities nothingness and traduce
the generosity, liberaty and kindness of the great
South. Many of this class of so-called merchants
and traders have frequently been pointed to u.s. and
perhaps when we have nothing of more Importance
on hand, we may honor some of them with more
explicit notice.
The exciting European advices of the week have
not had the least effect on our money market: in
fact rates of interest have been tending from day to
day in favor of borrowers and those who have good
commercial and country securities for sale can realize
at lower rates of usance than before ruled with
one exception) in this market.
The Weekly Statement of the Banks, as made to
the authorities this morning, shows reduction in
loans and discounts, which was expected as from the
cash features which attend trade, an increase or
expansion of bank credits could not have been en-
pected. This decrease in specie is, however, four
tunes over the corresponding week of last year.
There was also last year and the year previous de.
crease in long and short loans. Take the general
statement OF the banks, and we readily come to the
conclusion that if all Europe and Asia should become
involved in war it will not affect us much in the
Crescent City.
The following are the chanoac ", n, l,,,y-