New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-06-13
VOLUME XIII.
Neh 0rleans 9ailp Crescent.
WEDNESDAY MORNING, JUNE l3, 1860.
TALK ON CHANGE.

| NA4'Ae NsAsf
Another warm day was yesterday on the flags, |
particularly the flags Of Carondelet street and enyi
| rons. But the great warmth was notbrought about
by the sun pouring down its rays on the Square
block pavement. The sweating and warmth seem
ed to be controlled after the arrival Of the mail
say IL o'clock-by the European correspondence,
brought by the steamer Africa, arrived at New
York, the dates being to the 26th ut The private
letters read very gloomy in respect to cotton; that
il, for the middle men and Liverpool importers.
1t does not make any difference how they read to
planters and factors, as they have received full nay
andretnrns for the crop of 1852 yet, it is presum
ed Q large majority of them; in fact, all, do hot
wish that the operators and buyers for the seasoh
| the exporters should lose money. Although there
are many expressions, who cares what Mr. bull
| looscs yet, the belief is that most factors will
have some sympathy for those who have 10 stand
the brunt Of the losses in the seasons business.
The talk in private circles is, that there has been
screw loose for years in the management and CON
| Quoting Of the cotton trade between the United
States and England, but more particularly between
New Orleans and Liverpool; that the paid en-
poyts or agents Of our banks in Liverpool and
London have not promptly informed their prnci-
pals Of the position Of many parties engaged in the
great cotton trade. We only allude to the talk
| here and there on our flags The private accounts
| by the Africa intimate there are many bills drawn
against cotton coming back TO the South dishdnor.
ed; but no distinct solutions can be arrived at
from the remark, as the South covers large space
of country, including many large commercial and
financial places, such as Charleston, Savannah,
Mobile, Apalachicola Texas, and this great city Of
New Orleans, to which point, or whether all places
| nre tIfesa hills to the fdtlS Is
silent: perhaps from want of full bill of attand-
ers and complaints.
| There was some talk of the great ntricae'es of
many folks doing business under names or parties
to which they are not entitled or rather that sons
| and grand SONS in England are now carrying on
business under the same style and firms Of their
/ fathers and grandfathers, who have retired died
and been entombed for years and scores of years.
For instance, the great banking and discount house
| Of Overend, Gurney Co., is supposed, DR. has
been supposed to be composed of some of the old
members. Old Mr.. Gurney, we believe, has been
dead for many years but it is not ont of place for
| US to say that the present members of the house
now consist of tteo young Gu,7aeys and one young
Chapman, son of the late partner, David Barclay
Chapman. Which Of these Chapmans figured in
the great London frauds some three or four years
ago, our talk does not inform us. But whoever
manages this great banking house possesses an i'm
mense share Of pluck, consummate financial tact,
skill, shrewdness and sharpness, not attainable by
many folks in these days Of progress, they could
not have frightened the Governor and Directors Of
the Bank of England on the l2th day of Apr and
created alarm and astonishment on the London Ex-
| change, which reverberated far and near through
Great Britain, superinduced BY the withdrawal OF
"a Al. IA r
seven millions and half Of dollars.
This strain Of talk leads to other inquiries, and
we are asked if the old house Of Lizard HERNIA
nos, or the old gentlemen Of this name, is still con
nected or interested with the house bearing their
name, and which has for years held very high and
elevated position in commercial and financial cir
ces? This is house which has been connected
for years with New Orleans and vast interests have
been conided to its management
The further talk is. that the law of Louisiana re
aniring all merchants, bankers and traders to con
duct their business under their own proper name
is highly commended in all parts Of the world, con
neeted by ties Of commerce, trade, finance and
agricultural pursuits with Louisiana
Now the question is when did the old fblks-the
old Quakers of the house Of 0verend, Gurney 4
: Co.--retre from business? as some Of our banks
have very close connections with the firm
However, we can come to the conclusion thai
any firm or house that can really frighten the
, old "grandmarm of Threadneelle street, anG
compel it to enhance the rate Of interest," must bt
J composed of immense wealth, extraordinary tinan
cial ability eonsummate tact and about the bold
est assurance that we have talked of for a lone
while We are pleased to learn that the Bank o
England cannot walk over the financial world flat
footed, it We're, without meeting with defiance
The Bank of England, which was under suspension
of specie payments-that is, conducted its business
on shin plasters-from the year 1896 to the yea
1921, say 25 years, must be confessedly the great
est paper machine in the world. 1t has been shin
pastered all over
The further talk was of the extreme heat. w,
cannot say that it is any hotter than in forme
months of June. The wind continues to prevail
from the southwest. But we have no general com
plants regarding the sugar cane. On the bank
of the Teche and through the Attakapas distric
the prospects are very favorable, yet little rail
is required. On the Mississippi the cane begins tt
Nfeel the effects Of the long suspension of heaven
favors.
The accounts from the cotton-growing section
are highly encouraging-so much so that we ar
rather tmid in saying what the next crop of cot
ton will be, provided we have only an averag
season, or say similar to 1858 or 1853. The great
est anxiety is for the large stock now on hand il
Liverpool of all kinds, which on the a5th ult. wa
1,l99,Sl0 bales, against $780, 30 bales same tim
last year. The quotations of New Orleans cotto
were from 2ld.@94a. We think the 25d. cotto
will lose many dollars per bale; the aSd. eotto
will pay say about ten bales in thousand. ou
semi-weekly table of receipts of cotton at all th
5, ports in the United States will be published te