New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-02-11
Nen OtG>ans Duly Crescent.
FINANCIAL AND Co,NmgRCIAL DEPARTMENT.
Neu @rItans gFleGtv tlarktt.
CRESCENT ogrIeg, No, 70 Camp street.

CRESCENT OFFICE, No. 10 Camp street. !
Saturday Night. FEB. q Is5l.f
The general business for the week has not been
to the extent of last week. A reactionaTy move.
ment has attended cotton, while other branches Of
trade have improved In Western produce the
transactions have been on a scale commensurate
with the previous weeks for the last two months. |
The sales of all kinds of produce foot up four nil
lions of dollars A very respectable sum, consider
ing that the trade of city was to be annihilated.
1t cannot be doubted that incertitude exists re-
garding political elements, and though we cannot |
say that our community are fully prepared for the |
worst, its position is strong and inpregnable. A |
majority has been preparing for months. Our |
banks have been placed SO that civil war cannot /
harm them. The threats of a reduction in the I
duties on sugar by the defunct government have |
caused no alarm among those interested in the |
cultivation of the article The subject of tariffs |
and new imposts is about being debated before |
Congress- That some sort OF bill will be passed |
before the 4th of March is evident. As the great |
South will be organized by the same time, all that |
remains to be done is to inaugurate great trade
of imports from Europe, and let the merchandise |
go into the Western and Northwestern States the |
same as Mr.. Husksson intended to use Canada for |
the importation of British manufactures on the
passage of the American tariff In the year 1928.
1t is well enough to intimate the passage of the
present bill now before Congress will be produc-
tive Of the greatest benefits to the Southern Con-
federacy by increasing the sympathy and good
feeling from all foreign countries only say
the sooner passes the better for the South. 1t
will be better for our mercantile community to
consider the question of purchasing spring sup
| plies. We learn that there several orders in
! New York from the South for dry goods, or rather
agents and partners Of Southern houses in that
market 1t will be wise to restrict purchases.
There are dry goods sufficient at this time to meet
all demands for twelve months to come, particu-
larry of our jobbers have resolved on sell.
| ing for cash only. Country merchants and traders
| cannot stand this close course !; they will in
| majority of cases go without. At the same time
there are others whe are disposed to sell on the
usual credit to all that pay up; then there are
others who will sell in this way if Mr. owes
s200O and will pay $1,000, they disposed to sell
an equal amount on the usual credit. This may be
said to be letting the old or last years debt lay
over, and buying thousand dollars for cash, as
it appears but this ID not the sequel because the
goods will only be sold at the usual credit prices.
We, however, safely recommend to the coun-
try merchants and traders that they can be &C.
| commodated in some way another in our city.
We have to note an improvement in the dry goods
business for the week now closing. Merchants
from the interior arriving freely. In the con-
comitant branches of trade there has also been
increase in sales, though hardware has been stag
nant. Clothing, hats and shoes are being turned
out daily in light quantities. The local retail trade
on the grand boulevard, Royal and Charities
streets, has been tolerably lively this week. But
manifest decline in the amount of sales from last
year forms one of the prominent features of sales
for the week. This has been predicted, and occa
sions no disappointment in general
The great grocery trade has been the most en-
HANGED for the week. Some grocers say they can
not complain, and appear to be satisfied. They
give little time, say sixty days, for something
very nice in the way of acceptanees, which will
bring the money through the bank parlor the next
day. To sum up, business is moving onward far
more favorable than anticipated. The present de-
preston in cotton will, however, effect business
this week.
The money market during the week has beer
well supplied; but it might well be termed q
vacated market, for scarcely one piece of paper il
ten can be negotiated at living rates, say l0l@ u
Ct The usual supplies of factors paper, hereto
fore at the command of dealers in that description
of securities, are not issued only in such limited
money to be had on first-cass mortgages, on brick
stores in the central part of the city, say Camp
Canal, st. Charles and Carondelet streets but un.
fortunately for lenders and capitalists, the owners
and proprietors of property, situated in this pre-
scribed locality, are not in want of the needful.
Most parties who can hold property of this charac
ter do not happen to be on the borrowing order.
But would these pseudo or woud.be capitalists
loan money to improve vacant lots of ground to
good and Industrious Citizens who are DESTROYS OF
securing permanent home? Would they aid in
erecting dweng-houses where and when they
woRld be secured by mortgage on the ground and
buildings, with insurance policies assigned? No
it would be too fatiguing," perhaps, to look al
small mortgages. Nothing appears to come up tc
meet their rapacious views but irstclass brick
stores, first mortgages on the same, and then al
rates of usance which would bankrupt any rea
| estate holder to grant. In the meantime, money
continues to accumulate in our banks, and from
indications it will have to wait the good time
coming" The banks will not expand discount:
on these deposits to any extent, if at all.
Under the present disturbed state in politics, we
can have very little to say about improvements
building, and the mechanical and industrial
branches of the social compact. Very few build
ings are in course of erection, yet there some
particularly in the outskirts of the city, and cap
tasts, as they term themselves, might do muc
service, as before said There are occasional sale
of real estate but we have not met the first owne
who will sell out at decline from last year
prices There may be forced sales under iudicit
process, but they appear to be few and far BIZ
tween.
The bank statement for the week exhibits strong
The immediate cash demands on the banks ar
= SO, 06T 600 The immediate cash resources, sa
coin in vault and exchange, are $26, G3S $780, and {
fill up there are $,5,l770 900 in paper due With
ninety days. There is some increase i'll specie
There is large increase in deposits proper, and
heavy increase in exchange.
- The changes for the week are
h- An increase IN specle Oh. wi
in circulation Of i,y6
An III yposts proper al,7l6
led decrease short loans 7i9d99
in eNr iungG OF. lGS,396
An increase in distant balances of lII,Sjl
The varat IL in long and shoot loans for the week
ck is decrease SS37, 81