New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-12-05
gem Orleans nlelrtp Atarket.
cs.scrsr 9yyYcs, No. 20 Camp stree.

"
The week closes on large transactions l., 81.
great staple. The sales for the week exesad;na
~ e's thousand bales, being the largest recorded
~" ~'i"als OF our citys commerce In other
u uade there has been some improve.
"en' "as not % any extent, or that will admit ~
nS eAueAuon' communication with the interior
mas increased, and Il the recent rains have he.n
general, we may look for some increase = 1890
trade before the close Of the month neversh.,s..
our merchants traders and dealers IN general -,
not, we fear, realize profitable business :.
season. True, cotton commands good price. r..
our sugar yield is lamentabIy deficient. Win = I;
increased amount Of Indebtedness over last Vs., !.
or any year since 1912 to be liquidated-a good
share of which will of course, have to be extend.
ed. The present crop Of sugar cannot be forced
up to prices that will in the aggregate net the
amount Of last years returns.
In the local and retail trade of the CITY there baa
oeen an increase in sales and the shopping frater
mty turned out numerous part of the week. In the
wholesale and jobbing trade the sales have not
reached the extent of the correspond;no v.et -
last year. Stocks of merchandise are fuil and
ample ana our merchants say they can offer to the
country trade as great inducements as the New
ork and Philadelphia markets. There has been
falling off in one heretofore important branch
OF our trade The receiving and Forwarding trade
from Northern cities, which was 50 yerv luerat;v.
some years since, has materially declined this a..
son. Many Of our forwarding merchants comn,a;n
that this branch Of trade has declined fully asss
ect' POSSIBLY the competition in the number Of
merchants or candidates for business tends to a
greater DIVISION Of consignments It is. however
MANIFEST that the railroads in the West do receive
a large share Of the increase of TRANSFORMATION
lne oetennon and Instructions at the mouth If III.
Assisslppi last season have not been forgotten and
causes much trade to seek the inland routes
The latest European advices received an-;n, 49,
week were brought by the steamer Europa. arrived
~ nainax from Liverpool with the details for the
week ehdlng the 18th ut. The value of clean cot
ton was well sustained, Orleans Middling ruling
from 7s073d., and Fair sgd. The Manchester ad.
vices are favorable; London money market in good
condition. with negotiations for discounts taxing
place daily at 2a@2l get. Politics appear to he
unsettled on the continent and is futile to nredct
what week or month may bring forth in
Europe. Inc two great powers continue to in
crease their navy and army legions, now already
very much extended.
Our Money market has undergone some changes
against borrowers. The increase Of applications
Tor discounts at the banks has been steady since
tile commencement of the week yesterday and to-
day they were heavy. 1t will be observed from the
statements that the banks in the aggregate are only
IN working position. The payments falling due the
hrst and fourth (to-day) may have had something
to do with the large offerings On the street the
supply of money is free, with no difficulty in dis.
posing OF all good commercial paper.
1t will be observed from the return made to the
Board OF Currency this morning that the variations
IN the bank movement is broad. and it NAV he said.
comprehensive" If the variations had been at
tended with an increase in general business the ex
panslon in loans and loss of specie might be re.
garded with more complacency. An increase in
discounts OF over half.a million of dollars. with an
equal diminution in the specie reserves were not
anticipated. As regards our expansion in dis
counts there are precedents for it. As for the cor
responding week of last year, there was an expan.
sion OF s7oso0 in long and short loans, which was
however, met with an increase in the specie re-
serves of over half million in gold Last year on
the 4tll of December the specie basis was sl4 953
600. We have now only sll,93O,O0O-a falling off
of three millions of dollars. King Cotton must be
doing better than this for our banks,
NI.nr