New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-12-13
Neb Orleans lailp Grtsftnt.
TUESDAY MORNING DEcEMBER 10. 1859.
Ntu Orleans nlontu market.
canscesr oyr1cE, No. 10 Camp sire

Aheie 10 idfSe 4uantity OF produce awaiting a
movement IN the waters 1t is hoped this move
nent will not be long delayed by the elements in
general, which have so important an influence on
our market, as well as other markets. for it must
not be overlooked that and rain storms chill
and PROSTATE Northern markets, and act with a
more Or less degree on all European markets. The
calls the banks to-day for discounts were mode
rate, which signifies equivalent to income, and
much as desired. Outside there was not 80 much
money to be realized as last week at this time.
The supply or quantity Of paper offering through I
note-brokers is very limited. The usual hegira I
1--WE may term it) of planters drafts is at hand,
when large sums may be expected on the market.
There are good many descendants Of Africa
looking for good homes and good masters, which
will create liberal supply Of promises and orders
to pay within twelve months, which, we think will
be ample to cover all the surplus change our
money lenders and capitalists will have to spare
between this and the first of April. I
The annual election for Directors of the Canal |
Bank was held to-day. The old Board Of Directors
was returned without the opposition which it was
talked of would appear to-day. The following |
gentlemen comprise the Board:
Messrs. H. A. Rathbone President.
J. Y. deEgana, merchant.
l. H. Stautfer, Of Shark, Stauffer Il Co., hard |
ware.
George Jonas, retired merchant
George w. Babcock, of Babcock & Ker-
nochan, dry goods.
NJ. o. H. Norton, of Hewitt, Norton & Co.,
Commission merchants.
q. w. West, of West, Renshaw & Cammack,
Cotton and sugar factors.
The semi-annual dividend Of five per cent. will be
declared on the Goth inst.
The exchange market opened languidly this morn
ing. The counter rate for checks on New York
ruled at a@3 get dis. Outside the rates for double
AL were dis, and good dis Some buyers were
holding back, expecting to obtain good sight at
dis. Drawers were equally as firm. Unless de-
cline in cotton can be realized, drawers of exchange
cannot recede: particularly under the purchases
which are now in the course of delivery, as they
have been made under last weeks rates. In time
bills, there sales of sixty days double Al at
Il dis, and Al to good at Ii to 1902 get. dis,
with good to fair to be had at Q ~ to % dis.
In Sterling, the movements to-day comprised good
clear bills at 10sl rates ranging from los to 1859.
with heavy feeling. Document bills were taken
on drawees of repute at 1919, and merchantable
drafts at 1913, and some of lesser note at 1919
making the extreme range from 1919 to los for docu
ment bills, and los to 1859 for clear bills, with
remittance rates ruling lOst to 1885, In Francs, the
| transactions were in small sums-say at 5.26i to
$40. On Paris direct, Al bills quote 20
but the range of the market is from 5.27a 52Gi to
$50 and moving along with great degree of
| heavness.
| There was very little doing in stocks to-day. We
note the sales of one hundred and fifty shares Tin
parcels) of Bank of Louisiana at $50. The most
important movement was the close of negotiations
for hundred thousand of silver, part Mexican
dollars and part American dollars, of the old
standard at the rate Of l064@l06A, an intimation
of which treaty we gave in our last. These dollars
we learn, intended for shipment direct to France
We wonder whether the French government has
anything or will have any interest in them, after
the arrival in the Empire "Quen Sabe." Well,
the parties interested will, of course, make profit
4 by the operation.
We learn there is project astir to resuscitate
the Louisiana Tehuantepec Company. The pro-
positions something of this nature:
LIST. To reduce the amount of the stock to its
cash value-say so yet.
ID To reduce the amount of outstanding bonds
to the same standard-5O get.
3d. That the creditors place, or put the debts in
stock at the value of par. rm
4th. To contract with the Pacific Mail Company,
to put in their steamships at the value thereof in
stock.
This would undoubtedly place the Company on
its legs again, provided the propositions would be
acceded to. As regards the construction of the
one hundred and ten miles of Railroad, it would be
best to defer it, and complete the wagon or car
riage road The present indebtedness of the Com
pany, that is the exchange parties in New York,
cannot be saved without some arrangement of this
kind. In fact, the 900 of exchange held by
our banks and other parties, is comparatively val
ueless. But it is very doubtful scheme or sugges
ton to consider the stock in reduction as worth
so cents on the dollar. 1t is manifest that the Mic
arauga route will not be opened and that the Aspin
wall and Panama route will control all the business
Though, really, the California business or trade
forms a very small part of the great trade which
now passes over the Panama Railroad. If the Te
huantepec route can be recognized, it will take
much of the trade There is no probability, in oul
view that we in New Orleans can secure the pr.
vileges, or realize the benefits and advantages Of
the Tehuantepec Company. We must, as usual
submit to New York control. The Southern com.
munity dsburse and spend money enough yearly
| in Northern States to build and equip this road
over Tehuantepec. In the meantime, it is sug-
gested to raise a body of emigrants-say a dozen
regiments of fbusters, and take Tehuantepec and
|