New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-10-01
0sh 0rltans 1allp Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT.,
Yleu OEleaNs .flortp 3flarhft.
onEseEs1 orgleE. No. 10 Camp ii

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CRESCENT OFFICE, No. 10 Camp street,
SATURDAY. Night sept. 20 100
The business for the week has not been to the
extent and proftableness anticipated. With a
large stock Of cotton; with the early return of
thousands Of traders, dealers and citizens; with
the appearance of many new candidates for citizen
ship and wonld-be merchants with large and am
pie supplies of almost every description Of mer-
chandise required for our heretofore great trade
with uninterrupted intercourse with the interior,
particularly via railroad excepting with North
western Louisiana, we have to review an exceed
fngly dull weeks transactions. True the financial
market has been active, the demand for money and
negotiations large, very large. The transactions in
cotton for the week reach $4,000 bales against
81 500 bales for the same time last season, and
so 900 bales the season previous. The King does
not appear to relieve the money market in the
least, nor do the sales reduce the amount of in
debtedness, as the line of discounts at the banks is
only SITS coo less than last week. There are many
short loans made through other sources which
never come before the public.
In the general wholesale and jobbing trade the
improvement is SO very slight that it is worth only
few words. The stock of dry goods both staple
and fancy, have been well replenished. The gem
eral impression is that country merchants and
traders have purchased largely in Northern cities,
stimulated by the promising prospects of the crops
in the months of June and July. The arrivals of so
many full cargoes of merchandise from Northern
ports during this month seem to confirm the i'm
preston. The importations from Europe are also
large much in excess of former seasons. OF course
the increase of our population with yearly extend
ing connections with the interior, demand larger
supplies OF foreign merchandise. 5...l"
The fancy and retail trade has not yet fairly
opened. Dealers have laid in, it appears, large
stocks and dozen bales Of cotton can readily be
absorbed in erinoline at some of the splendid
stores on the grand boulevard Canal, in the course
of one shopping excursion, and then not be deemed
as going it very strong. On Charities street trade
has been extremely dull. The time for exhibiting
the new supplies is at hand, and from reports at
the Custom House, the importations of fancy art-
Giles, with millinery in general is large for the sea-
son, and more On the way hither. Royal street is
partially blocked up-the rebuilding Of the block,
recently destroyed by fire, is progressing, and it
will be some weeks before business will resume its
wonted vigor in the neighborhood.
There is no falling off in the mechanical, the
building and industrial branches of trade. Our
mechanics and laborers are actively employed not
only within the limits of the city, but over in the
villages of Algiers and Gretna With some leading
and industrious mechanics and artisans, it would
be supposed that the good time had actually ar
rived. 1t is many years since there have been so
many large and costly buildings erected. In all
parts OF our extending city can be witnessed new
buildings for dwelling houses and extensive re-
pairs on old ones; and with the many new dwell
ling houses erected this last season, the supply is
inadequate to the wants of annual and Regularly
increasing population. Many of this increase come
under the denomination of transient and rowing
population; yet they must have accommodations
and houses of some kind. Capitalists and property
holders cannot make better investments than
erecting rows of convenient dwelling houses on
some of the hundreds of vacant lots and squares Of
ground now waiting for little notice. 1t has beer
suggested that building associations and eompanie!
would be of great service to our community
These have been tried and met with no success
they were bankrupted. The row of buildings OF
Julia street.-the thirteen from Camp to ST. Charlie
street-was brought into existence by building
association, well several other rows of block
in other parts of the city; too many copartners
too many heads, in such undertakings are anything
companies generally. The active state of build
ing, and the large business now going forward on
the grand evee call into requsition all people that
will work. requiring immense sums of nancy to be
disbursed and paid out every Saturday, which
keeps the working and laboring class flush, as the
phrase goes, and amply provided to meet their
wants; and this money SO distributed is in real
hard money, and not as in New York, st. Louis
and other places where all labor and work are
compensated in paper money of one, two and
three dollars, purchased up by employers at dis
count on purpose to circulate among the working
classes. But truce to this nconvertible currency
of other States; let us return to our sound and
solid system of banking, where the position and
safety of banks can be ascertained any day in the
365. =a.~
The returns of the banks to-day to the Board OF
Control show them all to be within line, yet it is
manifest we are beginning to feel the effects Of
almost unlimited expenditures of money the pas
season. How it has been made way WITH after
receiving one hundred and five millions of dollars
for the cotton sold in this market, which was fit
teen millions of dollars more than in the year 1855
and 1859, might well be reflected on by the politi
cal and commercial economist, if there are any in
our community. 1t will be observed that although
the exchange market has been freely alluded to as
moving adverse to cotton, yet the sales of cotton
this week are 10 get in quantity above the same
week last year, and nearly 25 get. above the year
1858, say for the corresponding week, and we have
very tight money market, with prospects of its
being tighter before the acme is reached.
The changes or movements in the banks for this
week show the following variations