New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-05-08
Nsm Nrleans 9aiIg Grfstsnt.
TUESDAY MORNING. MAY 8, 1860.
TALK ON ,oHANeE.

TALK ON CHANGE
The general talk yesterday did not amount TO |
much. The accounts from Liverpool to the 26th
nIt., brought by the steamer which arrived at Que
bee on the 9Th, did not act altogether an Offset
to the depressing accounts which were received
last week. Some intelligent parties think that the
cotton market on the other side has touched bot
tom, while there are few individuals-but few
and far betwcen-who would not care to learn Of
the cotton market receding to 3D. in Liverpool. In
fact, these Bears would not care If the credit and
welfare OF New Orleans should snccumb to-day
be efectually used upso long as they could real
ize gain Or large gains. They are continually
harping about bills Of exchange coming back, q
immense losses all this, that and the Others and at
the same time they will have brokers out picking
up and buying lots Of cotton here and there, while
they will be bearing down, or endeayoring to run
the market down; that is, they will have their
agents or brokers buying on one side Of the street
while they will be running down on the other side
These remarks, however, or this talk, does not ap
ply to the majority of buyers.
The flags were not crowded to-day, though at
two or three corners rue Carondelet the gather
ings were free, and talk went on as usual. There
was something said ab0ut cotton, and there were
some remarks about freights. Freights are low
enough, about as low as any respectable shipper
should require. OF course there was some talk
about cotton, and that lot Of 1900 bales would
entail loss of over $25 ,000-we afraid to say
how much more, but the cotton cost here Sc. 2 lb.
and rather sandy and dusty in fact, we should
think it was very sandy when only valued at "a. q
fb in Liverpool We hope there are not many bales
of the staple in this category. There was some
further talk of large recamations and SO on, which
will be large, as the talk was that one party had
purchased 10000 bales here and at other ports,
which would all have to bsd old at great losses.
Fortunately, the parties can Withstand the defci-
ency. Therefore, we propose to eschew all these
gloomy details, and ascertain if there is not some-
thing redeeming on the flags As for the flags on
rue Carondeet it is manifest that the seasons bu-
siness is rapidly drawing to a close. The cotton
suits under the five day lien law alluded to fire.
quently. 1t is the general impression that there
will be no more seqnestrations under this law,
when the cotton and produce is on board of ship,
all slowed. The law will answer very well when
the produce has not been removed from warehouses
or presses; but when a valuable ship and cargo
worth quarter Of a million of dollars stopped
detained, taken in charge by the Sheriff, to re-
cover 692 or 1000 bales of cotton, it will prove a
costly business. In the case Of the ship William
Lord, we learn that suit for damages for $20,000
has been filed against the Sheriff. that the expenses
of unloading the ship to recover the sequestered
cotton, and the reloading the ship with the cargo
which had no more to do with the sequestered cot
ton than the man in the moon, will cost over s10,
600; that is, to obtain possession of about 1000
bales of cotton, will cost, cash up, $4,000, and
then the cotton in question is subject to long and
tedious litigation. However, lit is Of our bust
ness ii parties desire to throw away good money
for doubtful and bad. 1t is fun for the lawyers and
court officials, but it will have very unfavorable
effect on the commercial character OF our city
abroad, because the cotton could have been bond
| ed subject to the decision of onr courts, where
suits have been brought either by being left to ths
court ITSELF to general jury of twelve men, or te
! jury of merchants. In the present aspect Of the
suits the end is not yet but sufficient is already de
veloped to warrant the talk that there will be ne
stopping or sequestering of ships and cargoes
under the five day lien law.
The good schooner Mary Clinton was cleared
yesterday for Baltimore. She conveys to Baltimore
the relies of the body of our late citizen, Johl
Macdonogh, to rest, it is hoped, in peace in his ma
/ tive city. But we reminded of clause in eul
late citizens will that the schools and pupils O
the schools which were to receive the benefits O
his legacies-should yearly assemble around hi
tomb with flowers and roses, and sing hosannas t
his memory. We begin to join in the talk, or rathel
think it is all true, that the only remembrance o
citizen John will be by the lawyers and court off
cials, so long as double eagle remains of his es
| tate. Sic transit gloria n,u,,di.