New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-07-27
TALK ON CHANGE.

There have been very few gatherings on Caren
delet street for the past three days. majority of
the habitues Of this great thoroughfare will be
found at their cottages and villas the sea-coast.
The cosmopolitan part will be found scattered
about at the thousand and one places in Virginia
and in our Northern States. A good many are now
on the Liverpool and Manchester flags, somewhat
their tenters at the prospects results of their
| purchases of cotton during the last spring.
| Since our last talk the European mails by the
| Africa, have come to hand The private advices
are that during the week there were sales of Mid
| ding Orleans cotton at SD. 1t is presumed that
the lowest depression has been realized. The let
| ter of our correspondent will be found below. He
| talks of five and half million bales as the pros
| pect for the next crop. Whether our correspond
ent has not real hedged feeling or squirting of
| Bear when he talks of five and half millions, we
cannot say. We do not see any development Of so
large yield under the great drought, though the
new crop will be coming in by almost every boat
after the LIST proximo. There was some talk that
there would be large reelamations on this side for
deficiencies or losses in cotton. This will bear
heavily on several factors, who have been shipping
on account of planters--that is, if they have ad
yaneed to a large extent, reimbursing themselves
by calling on the agent or consignee of the cotton
in Liverpool or New York, or wherever the bales
will bring mp:
| Per africa LIyEnpoof July I, 1860.
Dear Sb'-Since last wrote you there has been
fearful smash in the leather trade The failures
are numerous, and to a very heavy amount The
loss among dscounters will be very severe. 1t is
said that one house alone, o. @. & Co, will lose
about half million pounds sterling on the paper
| they have redsconnted with their endorsement.
There are several failures here for large amounts
in the leather trade. So far, only one failure (H.
& a. Coubrough 4 Coz in the cotton trade, though
| rumor is rife with several others.
However, these matters will all be settled before
1 the new crop comes into New Orlepas, and If the
idea is entertained that prices will be very low for
the staple, it will only be with prospect OF crop
4 of five and a halt million bales. Consumption is
keeping pace with the production, and the factors
and planters will manage to get fair prices for the
i staple. Anything happening to mar the prospects
/ Of five and half millions will cause rebound in
i this market, which is now so depressed and irreg
a ular.
/ The weather in the last three days has become
i somewhat of the summer order, and continuance
I oft will guarantee good harvest, important
i to the manufacturing trades in this country.
heard last evening from one of the largest cot
ton operators in the Atlantic cities that there would
be much litigation regarding the reclamations from
4 here, on account OF the manner in which SO much
cotton has been dealt with or sold No doubt
i there has been some queer doings. Quien Sa6e P
Sales to-day 1000 bales.
4 The Geographic adviees by the Canada, up to the
10th from Liverpool, add very little interest to the
4 general commercial and financial community The
most material purport of the news is that the cot
ton market was no further depressed. The har-
vest prospects in Great Britain were improved,
but we cannot say how three days of sunshine
can advance the crop prospects, with the weather
partaking of the month of October instead of sunny
July.
There was some little business doing on Tchoupi
toulas, Poydras and New Leyee streets. Also on
the upper landings there were several boats dis
charging the rich and varied products Of the great
West. The demand for corn continues free. A
great scarcity of this indispensable article prevails
through the Southwest. What with corn at 81 so
to 81 per bushel cost to planters, with pork at 81
to s22 per barrel in the city, it will require good
many bales of cotton at 10 and lie. per pound to
furnish large plantation with its daily sustenanee
It suseless to talk of what the present crop of cot
ton will prove to be. 1t is too early for figures,
even with the dozen bales Of new crop before to
lead OF in estimates.
There have been some arrivals from sea-yessels
from New York, having from thirty.fiye to fifty
days passage. The interest on the money value of
the cargoes will count up something. The engines
| and machinery for the Commercial Water-Works
and which was ordered some time last year, have
arrived at the levee. and in few weeks "old rub
ana SO Will be spreading and showing oil its new
$ suit in high glee.
We learn that the fire destroying the feed store
on Tehoupitoulas street few days since only de-
stroyed property to the value of SIC 500-say one
> building owned by Gen. Palfrey, insured in the
Home for $4,000; one building, belonging to the
estate Of C. C. Williams, insured in the Crescent
. Mutual Company for $500; Fogg & Co. $3aO0 in
| sured in the Sun; Trumper 4 Co., insured in the
CRESCENT for &30{O Some of the underwriters s4y
there would be no necessity for insurance eompa
, lnies aud associations if they had immunity from