New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-02-28
ge6 @rltans 4aiIp Grsttnt.
MONDAY NoRNING, FEBRuARY %. Ia5a.
gth 0rltans Mluutv Marktt.
Cazsc1s1 orricE. No. 20 Camp st,

sstard"1 Night IT, Fe II ': g. IT, s,ss''
The general operations for the week closing thif
night have been large, and to-day it was unusuall,
active in the financial way. The great dry-good bu
siness (the trade Of all trades) has been well sus
tanned during the entire month like the raw mate
RIAL cotton, Of which one Of it's bases is composed il
exerts controlling influence general business and
on society at large, and what New Orleans now re
quires its great progress is the Inauguration of al
least dozen importing and wholesale dry goodi
firms, with capital, resources and intelligence also
add tional hardware firms, and one or two Other
branches of trade can be probably extended. The
general local and retail trade of the city continues
fair After so many weeks of briskness, we must ex
pect decline, which is now apparent Thousands
of our transient visitors Chose from distance) dis
burse very little money with our merchants They
generally lay in good supply of necessaries, sufi
cient to last their Southern tour Southern citizens
reverse this When they go Northward in the sum.
mer they leave large sums of money purchase libe-
rally in fact, onehalf of the North subsst on the
South, which We have seen demonstrated over and
over again.
The sales of. cotton for the week reach Sc 900
bales making for the past two weeks 1913 900 bales
OF sugar the sales this week reached Is 900 bids.
and OF molasses II 900 barrels In tobacco there has
been very little done. In Western produce the sales
have been to the usual extent the demand for the ad
Joi ming States continuing free. It will thus be seen
that large amount of money is required to move
the great business now going on. There is plenty
and likely to remain So War rumors will have yery
little effect locally this point as will be seen by
our remarks below:
In foreign merchandise we note sales of 1900
bags coffee and several cargoes of salt thus mani
Testing that large direct trade can be protably car
ried on by our community. The receipts of coffee
this season-the present commercial year-reach
274000 bags and of the other article, salt, 400 900
sacks, with further large shipments expected. Last
season to this period there was received of coffee
$4,000 bags. We have only to add that the great
grocery trade has been since the opening of the sea-
son, good sales exceeding any previous season and
if there is any dissatisfaction existing dealers do
not exhibit it.
In some respects the past two weeks have BEEN in
commercial aspect, of more than ordinary interest
The war rumors, the unsettled condition of Eurone
the great uncertainty regarding the future course of
the ruler of France the preparations in England for
defense, it is supposed have been commented on
freely and formed topic in general circles, The
latest advices brought by the Canada have been two
days before us, and regarded as being more pacific
then again, the address of Napoleon while rendering
the olive branch in one hand he shakes his weapons
with the other, France is fond of excitement and
war. In the meantime all these Indications are con
sidered by many of our leading financiers. and
weighed accordingly. They do not generally ex.
press their views in words but their actions reflect
their opinions If commerce and finance can be kent
free of excitement, we shall not suffer materially if
Europe does become involved in general war. In
some respects it will rebound favorably and pro6ta
bly, to American interests. The mystery which now
attends the course of rulers in Europe will he dis
PEELED before long. In the meantime our community
and Its varied interests in strong and inyunera
BILE position thus stand affairs with us this week.
There was an active demand for money to-day, be-
ing the last day Of the week. and the day of DEPART
ure OF numerous steamers, and, perhaps, thousands
of people, were the cause of it. The calls on the
banks for discount were heavy, very heavy with
some, say three times the income with two, and with
others large excess. 1t is some time since the Of
ferings reached on Saturday eight hundred thousand
dollars. Then there large tenders of exchange
In this item THERE'S much more discrimination ynced
with some of the banks not desiring to increase their
balances of foreign bills. The transactions in domes
tic exchange have been large for the week approxi
mating two millions and half of dollars, which
with dealings in foreign bills by those in that branch
make up heavy weeks business.
Outside OF bank to-day there was not much doing.
for want of long paper. The discount brokers are
'parsey supplied. Some negotiations of ten and
welve months commercial signatures closed at an
81 % cent. Capitalists are aware that they cannot
employ their means to better advantage in any other
market. The line of deposits show some falling off
or .ne week. me decrease in specie is partly owing
% shipments of Mexican coin for market. The
inc of discounts and loans has now reached twenty
light and half millions, the highest notch ever at
aimed. When it tops thirty millions it will be time
% pause and reflect The specie reserves must be |
maintained at fifteen millions for the present. There
no room for argument on this point We can there.
ore spare million and half. There will he very
ew calls, however, for eoin so long as exchange on /
Ill points rule SO much il. our favor.
The variations in the bank movement for the week
re: