New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-10-20
VOLUME XIII.
Neu 0rleans 9ailp GrfsteIt,
SATURDAY MORNING, OCTOBER 20, 1860.
TALK ON CHANGE.

| The gatherings on Carondelet street continue to
| increase from day to day. Among the new faces
yesterday we observed the general agent of the
| Bank of Tennessee, who deferred coming down
until exchange on New York came down. The
| Colonel looks well after his sojourn among the
mountains and hills of Tennessee. We also noticed
1 on the flags an agent of the Bank of Kentucky.
These respective agents are pretty tan IN person,
but they not very tall in their exchange views.
| They want bills at low rates-whether they will
| take cheap bills orr encourage Jockeys we cannot
| say. We also noticed on the sde-fags the little
| rue Royal retired capitalist. He looked very
well-as hale and hearty as when he was actively
| engaged in selling tape, bobbin, and dry goods IN
general on Chartres street. He is directtrom Vir-
ginia, and thinks highly Of Breckenridge and Lane,
but has good feeling towards ten and twelve per
cent, and the New Orleans paper market in gene
| raj. In fact, when we come to consider on the
solidity of commercial securities, there IS no
stronger or safer paper made than planters drafts
| on the factorage community Of New Orleans-say
| cotton, sugar and tobacco factors.
The week now closing has been attended with
large operatons in the staple. The sales of the
week will reach 10000 bales, at a very material
advance. Prices and sales have jumped up some
thing as they did in 1925, when the great specuia
ting mania was brought about by the figuring of
stocks in Europe, in the countng.ro rooms Of Crop
per- Benson Co.. and Rathbone, Hodgson Co.
Movements have not yet reached the height they
did in that year; but they will in few days pro-
yided exchange operations can be carried through
Thirteen and thirteen and a quarter cents have
been paid for Good Middling cotton this week. In
4 the year 1925 the receipts of cotton at New Or
leans were 10000 bales; nevertheless, these 2o6,
600 bales caused greater commercial disasters, In
proportion than perhaps ten times the quantity
would at this time The average price of cotton
that year was 2lc. per pound. However, i is not
of much use to be talking of what occurred in the
wear 1926, only some Of our old merchants-per
haps they may be appropriately termed old fogies-
were talking yesterday as if 1925 might be reen-
acted. On the other hand, there was some consid-
cradle talk of the frost We have nothing especial
regarding its effects; and, in fact when it is taken
into consideration that the crop this season was
fully twenty days in advance of last year, the
effects Of the recent frost can be duly reflected on
On the other hand, we have something for the in
formation of those New York operators, or would
be operators if theo were in position to operate,
and who have been writing that the great storm on
the ID inst. did not extend into Mississippi. The
following is an extract of letter received by us
two days since. 1t has been delayed by the mail,
but we all know that q letter written on planta-
ton may be two or three days reaching the local
postoffice.
| Dear Sri regret to say that the storm reached
this part, and did much damage to the already
| short crop Of cotton. Upon an average, one-thrd
was lost that open it being blown out and lite
rally forced into the ground, and owing to the
warm weather since, it has sprouted. The injury
is felt to be very serious Inc crop VIII not feach
half one.
Our friend and correspondent says he thinks,
from all information before him, that the growth
3 this season will not exceed three and half million
bales We consider these figures very liberal at
the time, taking Madison county, Miss, as the
standard, as that and The adjoining counties south
were thoso which suffered most from tE5 ,4s =
and storm. We talk of the effects of the stsrh 20
reprove the errors and misinformation of Colonel
Wrong and sthers in New York, who have been
writing to England that the storm did not extend
e beyond the confines of Louisiana. When will the
New York folks learn to do Wright, and allow a
cotton planter to know whether he has suffered by
the drought or winds and rains?
The receipts Of cotton yesterday, as reported on
the bulletin board of this office, were, between the
rising and the setting of the sun, l9,206 balesthe
largest receipts for any one day this season. We
say planters, send your cotton to market as fast
as possible; don't wait for higher prices than are
now ruling, II to l3c.
The following extract of a letter from Liverpool
= complains of the telegraph system on this side II
= cannot be denied but that there is great mass Of
;, useless matter forwarded over the telegraph:
Touching the adyces from New Orleans. the
Z telegraph seems to work as incorrectly from New
) | Orleans to New York as from New York to New
Orleans All confidence will be lost in telegrami
ID if correction be not applied to the present mode
5, OF working.
The above remarks are sent all the way from
Liverpool.
5l We have never placed much faith in the tele
graphic advices forwarded half of the time with
out being read in fact, we generally take all tht
:, dispatches, shake them up, as itwere, divide tht
shaking take onehalf and throw it aside, thel
give credence to as much of the other half as cir
cunlstances will admit A dispatch came on Satur
day night last saying that 81 100000 in coin ha(
6 been shipned for Havre that day. 1t now turns gu
$3.50. This, however, is trling. 1t is the vas
amount Of erroneous political and commercial in
teiligence which comes almost daily, that is oftei
talked of; and like quantity Of errors, it is pre-
rs sumed, go from here. However, if people beliey
in the telegraph at all times, they must take hlnnd
ers and errors as they come and go.
M The mails came through yesterday as late as du
H. from New York. The trains ria the Jackson Rail
road depart twice a day, as before the storm
Now we do not desire to hear any complaints fro1
the fast folks (many of them too fast for their ow
:. good) about the time taken to reach Manchae, Q
the thirtyfour mile post The road, or the repairs
are not sufficiently settled to admit of the usua
time being made; yet we expect to hear c
growing and grumbng from some folks, beeaus
they cannot be put through to New York in littl
over forty hours. This is great country for con
plants We do not desire to be any nearer to Ne'
York than we are now. Our city is losing husines
by the already close connection.
!. ANERIcAS ScULPToRs TuRSED OUT or THE Car
ToL.-The season before last Speaker Orr gave th
use of some rooms in the capitol to several distl
guished American sculptors to design works ft
adoption in decorating the capitol. Speaker Pei
~ nington, learning that they are not Republican
has expelled them and given the rooms to a foreie
doctor to erect steam bath apparatus. In Il
march of Black Republieanism American art mu
succumb to foreign quaek doctors.