New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-04-21
TALK ON ,cHANGE.

It is becoming rather warm on the sunny side of
the flags the habitaes in general seem willingly
to keep in the shade--in fact, there was more In
the shade yesterday than could be actually under
stood by the uninitiated. There were some rather
ominous dispatches received regarding open Gre
dts and intimations ''to be cautious" The with
drawing or countermanding of orders, it is sup
posed, will follow The :. boulyersementn = of the
4th April, to which we have before alluded, was
commented on. The question is of course before
the courts and as it is really fat paying one to
many parties, it is very uncertain when decision
will be had. In the meantime, one of the ships,
the William Lord, which had on board six hundred
and nnety-two bales of cotton, which bales were
subject to the five days lien law, commenced to
discharge the cotton yesterday; but the talk was,
that some new question had arisen, and the cotton
was coming from on board very tardily. In fact,
stopping or OBTAINING ship with four thousand
bales of cotton on board is proving to be a more
complicated case than was at first supposed; be-
sides the claimants for the six hundred and ninety
two bales, the other shippers are talking about
their rights, and making inquiry as to how their
insurance policies stand, as some of them have
dered insurance. and advising that the good ship
would leave on such day. The policies, of course
cover adventures and perils, such as of the seas,
fires, enemies, menof-war, ettisons, pirates, over
powering restraints, and detanments of all kings,
princes, or people of what nation quality soever
barratry. Policies allude to kings and princes, but
as we have neither in this part of the world it may
be presumed that the porty, ,kingly-looking gentle
man who fills the Office of the Sheriff of the parish
of Orleans, will answer for king and detainer so
long as the cotton remains on board the ship; but
it. to recover the 692 bales he has to roll the 5000
bales on the levee, it is very doubtful question
whether such detainment comes within the limits
of the policy. The private talk yesterday was that
there was disposition to compromise these SUITS
Another small matter looms up, as it were the
freight OF these 692 bales, though forming only a
small share of the quantity in liquidation was en-
gagged at the rate of a I'd. or over per pound-We
will rest at this rate--the cotton is Withdrawn or
taken from the vessel other cotton other freight
has to be provided-and we will say it is cotton
which has to be taken at the present reduced rate
say 3-Sd., which party or to whose part does it
fall to make the ship good for the difference of
freight between what she has engaged these 692
bales and the quantity to fill up the space provided
she takes freight to fill up? Or, in other words, is
the ship to be paid the freight on the 692 bales
under the bills of lading, by the Sheriff or claim
ants, the same as though the cotton was delivered
in Liverpool, the intended port of delivery?
| Some parties, who have advanced on bills OF
lading, have compounded or brought out the inter-
est of one claimant, but there is some talking that
bills of lading have been signed for cotton, and
the cotton is not board the ship, but in the cot
ton press. As there was cotton on board four or
five different vessels it is not known to which ship
or captain to apply. Notwithstanding this mode
/ (that is, requiring bills of lading in adyance) has
been followed for several years, yet that does MOI
sanction it, and we can only say that it is very
loose manner of conducting business; yet the sys
tenn may be followed season after season without
trouble and difficulties.
But the talk is, when may decision on this five
day lien law be expeeted2 It is idle for somt
folks to be talking, why didn't the vendors get pa,
for the cotton before they delivered it? This is
question easily asked and might appropriately b,
answered with silent contempt. We might ask, i
the great basis Of commerce, the foundation of al
| contracts and agreements, the simple words o
confidence and credit, to be discarded, as il were
banished and kicked out Of the vocabulary of com
mereial dealings2 IN other words, we might ask
is every dealer in or buyer of cotton to be consd