The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-07-26

Sew Orleans Momsp Rarkst.
OxxsosEr OryIoz. 10. % OLzy syEnn1.
Saturday Evening. July Is. 1853

fpnre and at 3 P. NJ. il closed at the same. Rates
have been firm in this market throughout, and
with limited demand and supply operations have
been restricted TO the appended amounts, viz:
$1,000. $4,000 and $40 600 Gold at l42i; $1,000 and
$4,000 do. at l43, and $1,000 American Silver halves
at 1884. We now quote Gold l42lGl43. Ameri.
can Silver l36@l363, and Mexican Dollars l46t
OLAF.
FOREIGN demonstrating and Francs have
been inactive but firm since our last. Offerings of
commercial bills indicated no increase whatever,
and the remittance demand has been of a barely
moderate character. We subjoin particulars Of
the actual sales, as follows, viz: $4,000 bankers
Sterling at 1851, and IS 000f. bankers Francs at
3.673. We still quote bank Sterling l5S0l5Ss.
clear bills l57@l574, bill of lading bills l56@l56A,
bank Francs 3.57s, and commercial do. 3.6249
$50.
DOMESTIC ExCHANGR-There has been no alter
alton Of any Kind noticeable in the movement un-
der the above heading since our last. The mar
Eet is but very scantily supplied with commercial
sight and short sight. and the inquiry on the part
of Temitters has indicated, if anything, further
abatement. Quotations disclose but little II any
variation, however, and the annexed purchases
by banks and bankers were effected ct previous
figures, viz: $1,000 commercial sight on WASH
ington at par, $l6, 900 AL commercial do. New
York at sic y cent. premium, and $l2 900 do. at
1 y cent. premium. We still quote ! q cent
premium at bank and tG4 IL cent. premium out
Of doors for sight checks on Northern cities.
UNCURRENT NoTKS AND SECURITIEs-City notes
are weaker to-day, but as no one could give JUS
Unable reason for the recent advance, SO nobody
is willing to give a satisfactory pretext for the
present reaction. Louisiana State notes are un-
changed, while operations in Bank of Louisiana
notes are wholly suspended and the movement
in all classes of Stocks and Bonds continues of a
very limited character. The following are the
only actual transactions reported under the above
heading since last, viz $1,000 and 100000
City notes at 81 u cent discount, $1,000 old Lou
isisna State bonds at 65. $1,000, $500 and $4,000
Louisiana State notes at67, $4,000 do. at CIT $4,000
do, at g. $1,000 do. at IS lc. and 10 and 20 Levee
State bonds at 53sc. q dollar.
SPECIAL DIsPAToHBs.-We are Indebted to
the Western Union Telegraph line for copies of
the following private dispatches received from
that route to-day, viz:
Ne,o York, july 25-l0 A. M.-Gold opened at
I43l. 1920 A. M.-Cotton market dull-prices
nominslly unchanged. Sterling ll08@ll0i. Gold
l434. IL M-Gold l434. Cotton market dull
prices tending down, though not quotably lower.
Sterling steady.
Lirerpool, Jl,lg 25-3 M.-Cotton-Up lands
10ld., Orleans unchaDged-sales to-day 5000 bales.
SIR MORTON PETo AND HIS AssoCIATEs.-The
London Daily News. in its city article of the even.
ing of the 9th, gives the following account of the
final settlement of the affairs of Sir Morton Peto
and his associates:
'In the bankruptcy court to. day, no opposition
being made, Sir 5. NJ. Peto, Bart, and Messr5.
Belts & Champion, the great railway contractors,
passed their examinations, and received their or
deTs OF discharge. 1t appears that, as result OF
the Investigations made by the accountants on
each side it has been discovered that there is no
such debt as f2l0 900 due from the railway com
pany TO the bankrupts, as claimed by the latter,
and that, on the contrary, large sum is due from
the firm 10 the company, On the other hand the
railway company content themselves with proving
for 1865 600 against the estates of the three bank
rupts, and for fll9, 900 against that of Peto and
Belts instead of the prepOsterous sum OF e6 Co.,
600 originally claimed. Owing to the mode in
which the affairs of the two firms OF Peto, Belts
& Champion, and Peto l. Belts were conducted.
Lave oh a. 0O0-Whiah
TO form part Of the estate of the three bankrups,
will be applied exclusively towards the discharge
of the liabilities of Peto Belts, the result being
that the Joint estate of the three bankrupts will be
impoverished, and that nothing will be available
for the creditors thereon after payment of the
costs of the proc 'ings."
FINANCIAL PRosTscTs IN THE UNITED STATES
We take the following from Henry Clews Il Co.
New York circular for the month ending the 18th
inst. 1t was prepared for transmission to Europe
by the steamer Of that date, and can hardly be
expected to have reassuring effect so far as re-
CARDS United States securities held abroad, and
now being rapidly returned for conversion into
gold:
sion that gold is likely to work up to higher pre-
MUM. Indications are not wanting that our
foreign trade is approaching crisis, the charsc
ter and importance of which are but partially APP
precisted. Owing to the deficiency OF our home
production, we have, for the last five years. i'm
ported foreign products largely ia excess of the
ordinary means of payment, viz: Produce and
the precious metals; and the resulting deficiency
has been set of by the remittance of United
States securities to the extent Of $500 900 0OO
say, one third of our whole gold interest debt
Beyond the Teinvestment of portion of the in
terest on these obligations, Europe may be said
to have now almost suspended purchases of oul
bonds nor is it likely, considering the immense
sum of our obligations held abroad that this de
mand will be hereafter renewed. The important
fact, however, is that while this means of settle
meDt is failing US, we are not proportonately re-
ducing our imports; and there is reason to fear
that we may not resort to prudent curtailmen
of our foreign purchases until compelled by the
pressure OF a crisis. From the last official re-
turns, it appears that the imports OF the United
States for the first four months of the current
year, only Sill 400 900 less than for the same
period Of last year; while the exports of pro
ducts were S2i 400 000 tgold value) less thar
then; the result being that, during those months
we have had to ship So, 30O0 900 more specie thar
last year. Again, the imports at New York
for last month, were only 100000 be
low those of June, 1867; while the
exports of produce and merchandise we're 50 500,
600 less than then, and the shipments OF specie
S., 100000 more. 1t is owing TO the fact that We
are no longer able TO bridge over the deficiency
of our produce exports by the remittance o.
bonds that we have found it necessary to ship a.
New York, from January lst to July 10th, S55,
200 900 of SPECIE against $50 500 900 in the same
period of 1867, and $lS 600 in lS65. IL i
very clear that unless there be speedy rectihcs
lion OIL lulS uDcNSu uONcmcut VI Oui iOiClS
trade. the supply Of gold in the country must b
depleted to an extent very serious indeed. An
yet where are the signs Of any counteractOn o
this dangerous course of affairs! The remedy /
the less likely TO be promptly applied from tn
fact that the bulk of our impOrtatons consists o
the more staple and essential products, while tn
receipts of those goods on which contraction
most easy have already been much reduced. Tn
imports Of dry goods, for instance. at this port
for the last six months, are only s37 100000, o
SO coo 900 less for the same time Of 1861, show
ing, in this class of imports, an important cor
traction. The obstacle TO curtaiment is that
has to be effected upon tea, coffee, sugar, me
lssses, iron, raw materials, etc.-s class Of pre-
ducts in which consumption is usually reduce
only under the pressure of an imperative nece;
sity. In view Of these considerations, 1t will
fortunate indeed if the fall season passes withoU
o crisis more or less severe, growing out OF th
depletion of our supply of gold. The secretar
of the treasury, in a recent communication
Senator Cattell, stated that after the imm'
date demands upon the treasury, inclndin
the Alaska purchase, were met, ther
would remain but s37 100000 of gold fl
future use; so that, in the event of
heavy export drain of specie, no relief may b
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