New Orleans daily crescent., 1860-07-02
9sb Orleans 4ailr Grsstsrt.
FINANCIAL AND COMMERCIAL DEPARTMENT
gew 0rleans Hloneu Hlarhst.
csEscEs1 OFFICE, No. 70 Camp ii II

y
Saturday Night June ~ 1910 |
The first month Of the summer term does not
close as satisfactorily as the wellwishers of our
emporium desire. In commercial aspect every |
thing is on the standard Of the dull and inactive
Financially there has been more than the
usual activity; in fact, something bordering on ex-
traordinary briskness for the time OF year, all |
proximating IN some respects, as regards demands
for money, the most active business season. The |
sales Of cotton for the week only reach 5000 bales
against 1900 for the corresponding week last year
In tobacco there have been movements to the ex-
tent 1900 hogsheads against 500 for the same week
last year. These being the chief staples from which
any addition to the circulating of money Is to be
realized for the present. the proceeds Of sales will
go bat little way towards reducing the volume of
Indebtedness, and creating more freedom in the
general money market. There have been the
usual transactions from day to day in -four, corn
and other articles of Western produce, but they
form very moderate amount of the needfni
towards extending relief to the general financial
market.
The general wholesale and jobbing trade-say in
dry goods, groceries, hardware clothing and all
the concomitant branches of trade which make up
the great business Of our emporium-are of course
on the infnitesimal order. Taking accounts Of
stocks, overhauting and dusting old goods, reduc.
ing their value where they cost too high, balancing
books and squaring up the last years business,
seems to be the chief employment at this time with
the major part of both wholesale and retail dealers
The general retail, local. fancy and gew-gaw trade
is, of course confined to few shopping operations
in mornings and evenings.
| The imports of foreign merchandise have been
ON free scale during the month. They are of a
diversified character, with very moderate guam
tty of goods for the fall trade. The fall imperta
tions are now in course of shipment at the chief
ports in Europe, so to arrive here in the month
| of September. Possibly, if our money market had
been less stringent for the last sixty days, ship
ments from the other side would have been largely
enhanced. As it is, they will be as much as can
be paid for.
The mechanical and building branches Of our
social compact are actively employed. Business,
in the parlance of the day, is brisk, lively and we
hope remunerative, to builders artisans, meehan-
les and laborers In fact, there is aflS.aand ance
of work and employment for all that can or will
work. The large contracts for paving and repay
ouA otieSts ai . UClAS Nitu ilUN dIu
then some exceptions. Buildings for commercial
purposes and dwellings, with cottages Of almost
every description, are in course of erection in
; every section of the almost tless boundaries o.
our city. -
The money market has been somewhat exercised
during the week. The calls on the banks from day
to day in the aggregate have been large, heavy
very heavy for some days. Possibly there may
have been provision made to meet the coming
Z weeks payments, which are large for the seasoI
Of the year. Outside of bank there have been fres
tenders Of paper without being responded to. 70
day with two banks, the offerings were three time
/, the income one bank, say s2600o0 offered agains
q ss0,000 OF Ofcourse, ii is not within the scope d
power Of the banks to meet the applications the,
j discount to the extent of tile ineome and often
y beyond but not to any extent as the argus eyes
? the expounders of the statutes are closely watch
y ing their movements.
n The return Of the banks, made to the Board q
Currency this morning, are not dfsrentfrom wha
was expected. The loss in specie, it will be seer
Is s339,000. This was about the sum expected
they must expect to lose some further sums. tt ou
community or banks owe money they must pay
and that in gold if demanded. This is just simpl
j. the long and short of our position. If we owe "
= must pay. The same features that is, a decreas
: in every item Is observed in the movements th
be week, as attended the corresponding week 10.
iii year. The decline, or variation in deposits, an
light falling off in the line of discounts shows that
very small proportion of the idle money or deposi
: has been appropriated to the reduction of indeb
edness and the inference is that continual draugh
are made for disbursement in and remittance I
D Northern States anu Europe. The general redut
tion in loans and discounts is only sla2 ISL.
ii ii The return to the Board of Currency from Il
nt banks this morning exhibits the following chang