New Orleans daily crescent., 1860-08-20
1sh Orleans 1ailp Creseert.
FINANCIAL AND COMMERCIAL DEPARTMENT lI
gelp 0rltans 1lcnsp gfIarktt,
caEsoss1 orgIeE. NJ. % c,rnp 60. Z W

=
sions entertained. Therefore, commerce, trade and
business, onward in unity with the season of
the year and the stocks of produce on hand. In
the financial way the market moves along with
ease and calmness, the week now ending having
been attended with free supplies Of the acting and
ruling power. The sales Of produce have been
free the great staple has been in favor the sales
reaching G400 bales for the week against 5000 bales
for the corresponding week last year In tobacco
there have been operations to some extent run
ming up to 1000 hogsheads against 300 hogsheads
Tor the same week last year. These transactions
have had a material influence on the exchange
| market, the great fulcrum of the commerce and
trade Of our city. As regards our other, or real
local produce, sugar and molasses it is useless to
refer to them, as nothing beyond retail and
secondhand demand prevails. In Western pro-
duce the sales have been in some articles rather
above the average Of former seasons. The short
crop of cereals through the great Southwest are to
have telling effect on the revenue Of the cotton
and sugar estates the coming season. Moreover
the very high figures now demanded for pork and
bacon-S230s24 per barrel for the former, and the
latter at llC0l4c. per fb-the prices now demanded
for supplies under the ordinary requirements for
plantation use. 1t will thus be perceived that
large sums OF money will be taken from our city by
| the West merely for provisions and breadstuffs.
| There Is another item in maritime matters, which
Will have more or less influence on our general
market. The scarcity of shipping at this time has
already sent freights for Europe greatly in adj
| vance of last year: consequently, we shall com
mence our fall trade under disadvantages which
scarcity of shipping will entail 1t will make
great difference whether cotton can be carried to
Liverpool at sd. or at ID, and so with barrel Of
| iour. There will be wide variation to reflect on
when the cost of transporting barrel Of flour to
England is Is. 3d. or Is. Cd. 1t, of course, follows
! that the most important features governing our
commerce-heaithy condition of busness-so far
as produce is concerned, are the costs, ways and
means OF sending heavy produce to market Under
the dlscouragng prospects of the harvess in Great
Britain large shipments of breadstufs are going
| forward from New York. Boston and Philadelphia
| for England, giving employment to thousands of
tuns OF shipping, which have been idle for months.
But much, in fact, great deal depends for the
future in regard to shipping on the cotton crop.
There Is reported to be large amount Of British
tunnage unemployed at this time.
! In the general, wholesale and iobbng business,
there has been very little offered for remark Our
jobbers are receiving by every arrival additions to
their stocks. This applies to all branches of trade
| and departments, excepting the retail and fancy.
There are daily sales of staple goods the usual sea-
son-plantation supplies. We notice that buyers
| of dry goods in New York and other markets do
not purchase freely as they did last year. This
alludes to dealers and traders from the South-the
early trade from the South has not been SO satis-
| factory to New York merchants as formerly they
assert in that market that collections from the
| South and Southwest drag, and that the indebted
edness from the cotton region has not been can
| celed, as expected. There were too many goods
purchased last year for Southern account. In the
meantime, it is not out of place to suggest to all
our wholesale dealers, iobhers and retailers of
every branch and department of trade, to curtail
their purchases at least one-third from last year.
There has been very little doing on the great
boulevard Canal during the week. Some shopping
eXcurslonists are to be seen every morning and
evening" but they buy sparngl The merchants
and dealers on the grand rue, With those of Royal
and Chartres streets, are preparing for their re-
/ refreshments Of stocks, now en- route We again
caution all do not go too deep, that is, do not let
Northern or European creditors get their fangs on
| you.
We have to note great activity and brskness in
| the mechanical and Industrial branches Our foun
deries, iron workers, boiler manufacturers and re-
pairers-all machine workers, builders of every
class-are actively employed, full of bus 3ss and
prosperoHsy moving onward. Algiers and Gretna
on the opposite side of the river are in full blast
and appear to have more business on hand than
can be carried out in brief period of time In
fine, it might be supposed that the good time was
| at hand. The many buildings going up, the great
extent of repairs and furnishing up of stores houses
and buildings, calls into service all mechanics and
large sums of money are circulated every week in
dicating that there is abundance of the needful
for building and all mechanical and useful de-
mands.
The general money market has moved along
quietly and regularly for the week. The tonsorial
gentlemen do from day to day, realize their rates
but have in some instances been obliged to come
down peg or two. The banks in the aggregate
have had calls for the full amount of their income
with some banks more and others less. One bank
to-day had only $4,000 offered against an income of
over 100000. On the street there have been no
important changes in rates-4 four and six months
paperof high grade is readily placed within the
range Of oct. In other grades there is no impor
tapt variation, but more Willingness evnGed on the
part of buyers to invest with the general market
ruling in favor of borrowers or sellers of paper.
The weekly return to the banks this morning
shows an increase in discounts OF $I4S 3S0 but this
is mere drop--the exchange balances are reduc-
ed, and, Qi course, the proceeds are used in the
line Of discounts. For instance, the Canal Bank
was above line $3.50 000 with its exchange balances
very low. of course, this surplus is in readiness to
be invested in exchange when offered, which, of
course, will be productive of the same advantages
to the commercial community as dscounting paper.
The movement of produce is beneficial to all
parties. Another of the old banks has taken so |
freely of long dated paper that it runs very close
on line. The large increase in short loans is not
real, it is only the transfer from dead weight to ac-
tive movement, the paper maturing inside of ninety |
days.
The changes for the week are
decrease in specie Of .,,,..............S 1873
A decrease in deposits proper f..,..,..... 26l 459
An increase in short loans ...,............
decrease in Exchange Of, it5
An increase in distant balances l17Sl
The variation in Long and Short Loans for the week
is an increase of,. liS,4S0
The decrease in specie is readily accounted for.
The returns last week showed an increase of $86,.