New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-05-05
Metp Orlsars 4aiIu Grestsnt.
MORNING, MAY s, 1860.
talk ON CHANGE.


TALK ON CHANGE.
Rather quiet than otherwise on the flags yester-
day. The grand Boulevard Canal was particularly
dull and inactive. On rue Carondelet there were
partial gatherings here and there. great falling
off in the livelness and bustle-observabie two
weeks snce-was more than apparent. There
were very few sales of cotton. On Tchoupitoulas,
Poydras and New Levee streets, the same lethargy
and dullness prevailed--nothing more can be ex-
pected for the balance of the season. Trade and
commerce, though not running wild, have been
going on the high-pressure principle since last
September OF the grand basis of our mighty
trade, cotton, there has been more recorded and
sold than ever before. Though the sugar crop was
deficient, the higher prices obtained compensated
in some measure for the variation This brings up
the present prospect on the sugar platform or de-
pot. 1t was decidedly summerish there yesterday.
The rays Of the powerful after 10 o'clock
most of the giInlet rangers were inclined to keep
in the shade. In fact, we should not be surprised
that before many days they will issue their annual
manifesto: that they eschew boring and trying
after o'clock P. N. The summer standard is ap-
proximating with more rapidness than many peo-
pie feel willing to concede.
There was some talk in shipping circles Of the
action of the Board of Underwriters of our city,
which is made known through the following notice.
We have not seen the resolutions published in our
city journals; and as it is news to many shipmast-
ers and shipowners, we give the paragraph as pub
lished in New York:
The New Orleans Board of Underwriters have
passed some stringent regulations in regard to
masters of vessels who may meet with disasters on
OAK. De- a
They have placed Capt. Moses Hoyt in command
of vessel to cruise in that region, and render
sistance; and they demand of the masters of ves-
sells in distress to follow the advice of the agents of
the Board Of Key West Nassau, ETC., upon pain of
noninsurance of vessels to which they may after
wards be appointed. .a 5
1t will be observed that all the masters Of YES
sells in distress are to follow the advice of the
agents Of the Board under the penalty Of losing all
insurance. This resolution brings the question of
capacity, capabity and judgment directly home
to all shipmasters. We hope that the captain Of
the ship silas Holmes, which sunk in the Gulf last
winter, will account through the mediums how he
allowed himself to hazard the lives of his passen-
gers and crew in leaky ship. Capt. Griffith, we
learn, great disciple Of spiritualism but the
mediums have not yet informed the world of the
fate Of the ships company. One boat with some
1t is manifest that our insurance offices and un-
derwriters have had a good many hard cases
arising from vessels approximating too closely to
the Florida reefs and keys. Ginger Bread Key,
particularly, has furnished several cases this
son; in fact, this key knocks many ginger.b bread
and fancy vessels into three-cornered hat, and,
with New Providence wreckers lowering about,
most any vessel touching this key is sure to be
equivalent to total loss. Masters of vessels are
SO far as the New Orleans Underwriters are CON
cerned, imperatively required to follow the direc.
tions Of the agents Of the Board at Key West and
other places. Capt. Hoyt is presumed to be ubiqui-
tous. He is expected to be at Elbow Key, Magan-
lila Reef, the banks, Key West and Tortugas all
about the same time. The talk is, and it is hoped
our Board of Underwriters will take some action
in establishing water-works company for the
great and increasing part of city known as the
Fourth District True, the many small risks their
respective offices have scattered about are mere
trife, compared to the many valuable vessels and
cargoes which are constantly passing through the
Gulf and Florida channel; yet if the eleven in
surance offices would subscribe 100000 to the
stock of the Lafayette Water-Works Company the
community would follow, as only few hundred
thousand dollars would be required to place the
Company in operation, and it could be easily 10
f2ct paying stock. The marine losses this season
have been very heavy.
Notwithstanding there is great decrease in the
receipts Of coffee this season--say over 100 900
bags-the stock on hand last evening was in ex-
cess of last year. This article is now fully 20 Act
higher than last year at this time. The large
stocks which the Bears said were in Rio have not
been received at this port; in fact, it looks as
though coffee will be coffee as the season advances.
The freight market is closing for the week at ex-
tremey low rates. Cotton freights are tending
downward-some Bears were figuring away at a
farthing. Ship-owners will do well to keep their
vessels at home for the present; though ship can
lay up as well on the other side of the river as in
Northern ports.
We hope that in our next talk we shall have the
pleasure of recording that it has rained. The ele-
ment of water will begin to be wanted next week
on the coast; in fact we are passing through q
very dry time-something similar to May, 1858.
The Northern mail came through yesterday, with
dates from New York of Monday last, Baltimore of
the lst inst, and two days from Augusta Ga. This
is fast enough; we do not want any more annihila-
ton OF time mail facilities. In fact there was talk
yesterday that there was intelligence received last
evening of protests-bills coming back: in fine,
the news comes much too fast--too speedy for the
comfort of many parties interested. We, how
ever, hope that the next arrival will give a more
encouraging aspect; yet tits hoping against fate
to really expect that for some weeks we shall
have any other but depressing commercial ac-
counts from the other side of the Atlantic,
Dictionary of Abuse.