New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-07-30
Nstp 0rlsans lalp Grsstsnt.
FINANCIAL AND commERsIaL DrpaRTMyEv
geb ORLEANS Iluusg HEarket.
cHnsczrr orrrer. No. - Camp street,

WIN tse eACeptloH OF continued sss1H9encY in
money, the business for the week has moved along
under the Summer standard. in the general money
market the movements have been more favorable
Tor borrowers, but there has been a great discre.
pancy between the applications for discounts at
most of the banks and the amounts granted. The
banks are all in position, and is the deterraina-
ton of the managers to keep them so. They CON
tinue to move onward in the same manner they
have for the last sixty days. II there is not 800
many goods-too much merchandise brought into
the Southwest, we shall get along very well the
coming autumn. There have been some OVERHEAD
ing, over-investing and undue speculation the
final results of which have to be realized. Into
ward prospects present themselves in the complete
failure of the corn crops in part Of the States Of
Alabama, Mississippi, Texas and Northwest Loui-
siana In some isolated parishes and districts the
corn crop has been highly favored, but nothing
comparative to the deficiency in other sections.
With rather low prices for cotton in view for the
balance of this year, the general aspects of an
early and profitable fall trade are far from promis-
ing. AS regards the great staple, it is premature
to be making estimates or form predictions OF what
the growth of 1869 will be. In fact, it is too early
for figures, unless they applied to the bales Of
the new crop as they arrive. The announcement
for forwarding tine new crop is feeble though it is
suggestive to planters who are likely to be short Of
corn to forward sufficient cotton to place their
merchants in funds to purchase before the advance,
which will certainly follow the present scarcity
though there may be large crops throughout the
great West, they will fall under the control of spe-
culators, who, of course, will take every advan-
tage. There are many shaving shops, alias bank
ing institutions, in the great Northwest prepared
to aid in monopolizng all the surplus grain raised
this season. Moreover, the opinion prevails that
there will be an enlarged demand for all cereals
for Europe; though this is not so certain, yet it
will be brought into the account after the specua-
tors and monoposts have obtainsd control Of
large share Of the breadstus throughout the great
West. Speculations or investments for rise in
our market will not be countenaneed in the bank
parlors of the banks Of New Orleans, and whoever
goes into the market for rise, depending on our
moneyed institutions for fayors will calculate too
fast, and be effectually wound up at the shortest
notice. II individuals or operators have money
and capital at command let them go ahead. u
and not place the least reliance ON aid and susie
nance from our banks for rest assured that specu-
lative accommodation paper will not be looked on
with any favor. For six months to come our banks
have to confine their movements to strictly com
mercal and business purposes. True, now and
then some of their would-be friends and customers
will obtain advantages, otherwise come the qirafe
over them.
Abiding to the general trade for the week. we
find the sales of cotton to be $500 bales against
1880 for the corresponding week last year, and
5000 bales in 1853 The sales of tobacco have been
very light, only 500 hogshesds against 800 hogs
heads. According to our statistics, there was one
hogshead Of new tobacco received during the week
ending the 30th July, 1858. @ .=. 55...=
In the general wholesale and jobbing business
we have very few remarks. The yearly process Of
taking account of stocks and balancing books has
been completed, and Preparations are now pro-
crossing for the freSe supplies and replenishment
of stocks preparatory to the autumn trade.
Though the jobbing and wholesale stores are, from
appearances, deserted, which not only applies to
dry goods, but to groceries, hardware, clothing,
etc., there was very good attendance in and
about the auctions today, particularly where there
was anything of assortments of the queen of trade
dry goods. 1t has been commented on freely
why there are not more dry goods received at this
port direct from manufacturers and exporters in
Great Britain. We have auctoneers who can CON
duct and manage consignments and mportations
with the same facilities, and make as liberal ad-
yances as New York, Boston or Philadelphia auc-
tioneers Moreover we have system Of shorter
credits in our market than in Northern markets,
which is one high commentator in favor of New
Orleans.
The general, local and retail trade is on the in
finitesimal order Although there are many thou
sands of citizens out of town, there are several
thousands remaining, and crinolinedom and the
shopping fraternity make something of a show dur
ing the mornings and evenings, without, however
causing anything more than light breeze on the
walks of the grand Boulevard Canal and les rues
Royal ct Charities.
In regard to the general money market for the
week, we have very little to say. The market has
leaning in favor of borrowers. With high. toned
securities of short date terms have been growing
in favor of borrowers during the week vet large
amounts of paper cannot be placed, neither of high
or low grades. The banks are doing very little
beyond their regular income. The sales of ex.
change from day to day enables some of them to
reinyest in the way of discounts. But the chief
movements appear to be a sort of renewing each
succeeding day with some fresh paper now and
then thrown in, by the way of filling up the
vacuum, should there happen to be any.
1t will be seen that the total discounts have in
creased this week s56,000 This Is better than the
figures should read ten times the amount OF half
of million. The movements of the banks for the
week conform to the same as last year at this time
and the year previous, increase in specie being
one of the prominent features for the terms. Last
year at this time banks held S13 763 900 in coin
To-day they held 10000 difference against this
season, FotT Millions of dollars. This will make |
a very material difference on the opening of bust
ness the coming fall In fact, they will be short
until November or December, when, perhaps, ex-
change may rule in our favor, SO as to admit of the
importations of gold.
We again caution all merchants, traders and
dealers to limit their purchases Of merchandise in
Northern markets, and to importers of foreign
goods to regard the same with caution.
The following figures denote the amount of in
to the banks on the last Saturdays of
the month Of July for five years
lss6-Tota loans and discounts .s23G5so5l
1857 ...-.......... 24,I5lDN
i Isss : ::::.........: 2 asss4as
Tba variations for ths