New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-02-07
[Per Arabis.l BOROUGH HuIDrNGs WATER STREET,


Dear Sir-The week just closed is remarkable for
the extraordinary war panic which has swept over
all Europe, causing the funds to go down on the run,
and giving serious check to the expanding activity
which was visible at the beginning of the month.
Consols have been violently affected, having declined
during the week low 943 from which point they
subsequently recovered and closed to-day at $50 to
On the Continent the decline in Government secur.
ties has been as much to per cent in the lead
ing capitals since the LIST inst. ,t
Money has again begun accommodating rapidly in
London and the rates Of interest have declined to n
to 81 per cent in the open market for the best COM
mercial paper though the Bank of England continues
to charge "a.
CoTToN.-The unsettled condition Of Continental
affairs not without their influence the Cotton
market. though far the effect is not SO marked as
in the Stock Exchange, yet sufficiently to cause
great caution the part of buyers, while holders
have shown more desire to sell, and have offered their
stocks freely but as the former refused to meet them
even at slightly lower rates. have had very life.
less trade and prices have receded about Lied Id
all qualities, Bowels being especially depressed
Business at Manchester maintains its extraordinary
activity, and Notwithstanding buyers from the Cont
nent less DESTROYS to operate, the market con-
tinues well supported, under the influence of later
and still favorable advices from East India and China.
The sales for the week foot up $4,000 bales, of
which 1900 were taken on speculation, and 400 for
export. To-day they were 1000 bales, the market
closing dull We quote:
Orleans, qrdin " to Gs,d Ordinary s1a 70
" aMid to Mid Fair '' ad to IA
The present estimated stock is 331 800 bales,
against 4l5 100 in 1858, and 3ls,6O0 in 1857.
The quantity known to be at sea is 1876 900 bales
of American against As, 600 last year and of East
India to arrive to the LIST April 5000 bales against
81 500.
SUGAR-The market has been dull during the
week, and closes about I'd. lower. Many think the
apparent large consumption Of last year was, to
great extent, fallacous, contending that the ex-r
tremey high prices during the first three quarters Of
1857 and the prevalence OF the panic during the last
quarter caused stocks in the interior towns to run
down unprecedentedly low and that the vacuum thus
formed has been gradually filled during the past year
and the Sugar not actually consumed as the figures
doubt not the real consumption was larger than for
any previous year. The sales this week were 100
hhds Antigua at AS 3d., and 10 hhds. Demerara at
39s. Cd. to 39s Cd. cargo of Mauritius (100 uns)
Cd. to AS 3d., 400 bags grany Surinam at 1885, 3D.,
and 100 good brown to low white Bahia at 26s
to 27s. Cd, with 5000 bags Pernams and Maccio at
24s. Sd. to 24s. Cd. per cwt ex quay.
MISUNDERSTANDING that prices are not likely
to fnd lower level under any circumstances, while
war on the Continent would Immediately cause
large advance, spectators have been induced to en-
ter the market and during the past week or two have
scriptions of Wheat, which remains very firm at an
advance of Id since this day week. aud of I'D. since
LIST inst. Flour continues in fair demand at full
prices. Indian Corn is also in demand, and former
prices ATc luIly suppoEtcus ii
At today's market there was small attendance of
buyers who showed but little disposition to follow up
their recent operations, consequently prices at the
close were barely maintained.
We quote:
Western y1. Canal anal 49, to ss
SsS Orleans 81 Loais supefbne
Baltimore ana fhllhuelnhl0 u.s. TO Z3s
BAcoN.-New American continues in very moder.
ate supply, consequently the business doing is too
limited to justify quotations. Old is rarely inquired
for and its value remains nominal. We hear Of the
sales of 40 boxes Cumberland Cut at 3ss. Sd.
PoRK.-The arrivals are small, with fair demand
at 7Os for Eastern and 65s for Western. a large
supply would doubtless lead to more extended
business.
LARD.-Holders, under the influence of continued
favorable accounts from the United States are very
firm, but the business doing is meager, only about SO
tuns having been sold at $685. to $685. 3D. per cwt the
latter figure being for small parcels of strictly choice.
TALLow.-The demand has improved, and prices
are Cd. to Is. per cwt higher. North American now
commands 53s. readily, and closes with further up
ward tendency. Truly yours
JAMES HEWITT &