New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-04-15
9th 0rlsans aaiIg Grsstsut.
FRIDAY MORNING. -APRIL I6. Ia5a.
geu OrItaus 1luniu YIarkst.

! T. &. ! "a
esEscEsr OFFICE No. 70 Camp stsest, !
Thufsdsy Evening, April " 1859 I
We have no change to quote in the general Money
market this evening. The article continues under
ree supply at low rates fer our market. There is I
some discrimination made in paper based on crops
expected to be raised within the vicinity Of overows
Though the accounts Of cievasses and overfows are
sufficiently gloomy, they are not more go than they
were last year at this time and take all things into
consideration, we think the country came out last
year toletae well for watery year, though there
were some sufferers. But what strikes us as very in
opportune at this time is complaint making that
there j. want Of rain In some sections after the
many thousand accounts Of storms of rain, high |
stages Of water in most every small stream through
out the great Southwest. II is making too great de-
mand on cfedulity to believe that drouth is felt
We suggest that get clear Of the crops raised in
1858 before prospecting on 1851
The business in general begins to assume the de- |
cline which attends transactions at this season of the
year. The tobacco will Re for several weeks the at
tractiye feature OF operations The receipts will be
heavy here. The value or price Of the weed Will be
greatly supported by the low rate o. freights.
The Exchange market today for Northern funds
ruled in favor of buyers and remittesA. Foreign was
sitter, and held up we'll. We shall have good
amount Of tobacco exchange making during the rext
sixty days, and with tie balances for cotton pur-
chases the market cannot advance The cou1ter rate
for checks on NewYork was steady at par Good bills
outside sold at s@l dis, thoagh baabers (A1) we're
held at par, with concessions for round SUMS Some
one days sight was sold at s1s for choce signatures
Sixty days sight l, 1s9Il dr. ier choice to good
names II, 15@1a for good to fair, with five and ten
days sight ranging from 1, a@4 dig
In Sterling the transactions ranged in favor of sell
lers. There were sales Of good bills at 109a@l09a
We quote from 1G9@l054 up to 1884 as extreme
rates for clear bills Bills Of ladipg drafts 1884, 1854
@10sl. Very little doing in francs. There are SO
few offering that drawers have advanced their pre-
tensions We quote from 5.lss@5IoA as the average
| of extremes.
| In Stocks there we're sales today by auction to
close estate Of IS shares New Orleans Insurance
Company ex-dividend Of $50 D share, recently de-
clared say So shares at 40; 10 shares at las 100
shares Union Bank at 1Oa3 60 shares Louisiana
Tehuantepec Company at 2t2. At private sale we
heard Of 81 shares Canal Bank PIT; sixty shares
Crescent City Bank at 1Oe and so shares of the
at 1054. r 5.t
| The recent fires have attracted the attention o.
those having large amounts of proper and under
insurance. Oar local companies have been We eau
tious in taking large risks in the country, and at
tached clauses to policies ISSUE for country
which are not acceptable. 1t has been supposed tina
we have sufficient insurance capital in orr midst t.
obvate the necessity Of using encouraging foreg
capitalists or foreign companies. Our companies i,
the aggregate have minor capitals compared to trans
Atlantic companies. In New York City they hay
about s. insurance companies, of capitals ranging
from sl0O,00o@ the average rot being owe
| Hour las. G
in the years 1885 and 1885, would sweep out the J,
companies by dozens? This is conclusive that we il
New Orleans and Louisiana cannot too strongly en-
courage foreign capital to locate among ps We do
not want any of those dimnutve companies, located
in country village, those which are just startiog
business hut we want the 10 cation o. companies thai
can take single risk of $40 ooo and Day or
demand without quibbiing. Our local companies de
well, very well, as far they go bot the business
of the city ard the objects for insurance are ncreas
ing and extending every yea. With a yearly in
crease in the cultivation of cotton, we NAV lool
revolving year for large STICKS to accumulate
and though our insurance companies may take risk
) to the largest amount prudence may dictate they
by re-insuriug, are often found to be only noniaa
losers, being protected by foreign companies there
fore, city and State should MOI entail any ighe
rate of taxation agencies than on our local Gonna
MES. =
We learn that one of the agencies of an Enqlisl
Company has or will bear considerable sums of los
by the recent fi"es but being company Of lage ca
pital and great resources, it meets all demand
promptly, without discount. This is the London an
Liverpool Company. The lest loss which has BEEF
demanded is for $4,000 on the suea-.house on tn
Orange Grove Sugar Plantation, belonging to Mr.
m yvb 1aef
days since, entaing loss of 100000 $40 900 being
covered by this company. With the slgarhouse
engine and fixtures were burnt 90 hcgsheads suga,
and 1000 barrels molasses.
We now can discern the workings of the country
clause in the rolces issued by our insurance com
pany. Suppose Mr. Burnside had policy of $40, OCC
from one OF our companies, what would they pay il
they choose to refer to this clause? He would claim
$4,000. The country clause says, we pay only one
half the claim, SO the words read in the clause VIZ
will not comment further this country clause 70,
the present. as since remarks it has been great,
modified. and some restrictions annulled, much tc
the satisfaction of all parties.
As the season for operations in gunny cloth and
bags is approaching shall, as heretofore, keep ou
readers apprsed of the state of the Boston market
where nearly all the Calcutta, Manila and Bomba,
trade centers. Though we have not seen daily Bos
ton paper in our sanctum for nearly three years. we
shall endeavor to be posted particularly in the great
article of gnnny cloth, alias baggng.
From the Boston Price Current of the eth inst
GuNNY BAGs.-The market for guuny bags is
quiet, and no sales for few days. Heavy bags are
held very firm. -
Imports from January to April q
s ssass t t1ls Sss
GuNNY CLoTH.-There is no change to notice ia
this article There is some inquiry, but the views Of
holders are above those of buyers Sales of 400 bales
standard at supposed lac. u yard months Offers
of l2!c, months, for standard, have in several in.
stances been refused.
Imports from January to April p
1859 ls-S.
1