The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-10-31
6he Hsn '0rlra4Is Glest'"
SATURDAY MORNING. OCTOBER 81. 1856.
Commercial Jnttlli9enfe.
CRESCENT orrIcE. No. "a CAxr STREET, T,
Friday Evening. Oct 80. 1868

general election; but further and more potent
cause for the present depression will be found in
the menacing conduct and demonstrations of the
freedmen in various parts of the country. The
movement in the leading staple was Of highly
satisfactory character during the early part of the
sales Of is 500 bales for the first three days, on
account Of advlces of stffening rates at New York
and Liverpool and less violent fluctuations in Gold
and Foreign Exchange. Subsequently, however,
there has been reaction and sales have dimn-
shed, while quotations have somewhat receded.
Sugar and Molasses have been in fair demand at
full prices. but the receipts and supply of the new
crop have not been large enough to warrant any
general movement, and the stock Of Cuba has
been considerably reduced. Tobacco has been
quiet at previous rates. Flour. Corn, Oats and
Bran have been dull and unsettled. Hay has
been scarce, with q moderate inquiry at former
prices. Provisions have been in limited request
at steady and firm rates. Money continued abun
dant. Foreign Exchange has been In fair demand
at fuctuating rates, and Domestic Exchange has
ruled slightly easier with increased offerings.
A SIGNIFICANT MovEMENT.-In perusing our
Alabama exchanges, We have recently come
across several reports of county meetings held in
that State for the purpose Of organizing concerted
action against the combined efforts OF English and
other dealers in and manufacturers of the staple
who are endeavoring to depress prices below re-
munerating figures. At first glance this move
ment may provoke a smile on the faces Of parties
who have been holding on for lower prices. but
the idea, nevertheless is not altogether devoid of
interest Cotton planting now is far different from
the sameipursut ten years sgok Then the labor re-
CURED for cultivation of the staple demanded a
heavy outlay now no such investment is needed.
Then planters, as q rule, involved themselves in
debt every season by further purchases Of land
or negroes, as well as by advances from
Then the markets of the Northwest supplied our
planters with provisions of almost every descrip-
tion-now the tables are turned, and we have not
only an abundance Of the necessaries Of life for
home consumption, but vast surplus for less
favored communities. Why then should not the
plan adopted by our Alabama neighbors become
popular and general throughout the cotton grow.
ing States? Nearly all Of the large planters have,
since the war, become small farmers. For want
of means the part of factors the tillers of the
soil have been unable TO obtain advances, es-
pecially during the present season. The latter
are amply fortified against hunger, however,
owing to the wise conclusion so recently arrived
at, that cotton was wholly supplementary, and
that their first duty was to secure an ample supply
of food, when the surplus or cotton crop
could be looked upon as the net profit of
their labors. This, and only this conclusion,
has He'd to the county associations in our
sister State, and it is not even problematicsl
that similar movement will soon obtain through
out the South. Since the completion of the trans
Atlantic cable England has almost exclusively
controlled the cotton crop of this country. This
year she seems determined to keep out of the
market till our purses or patience become ex-
hausted and prices fall to her idea of our compen
sation, but as other European countries have come
forward freely and taken sufficient of the heecy
staple TO supply our agriculturists with the most
of the necessaries and all Of the luxures of life
which they now require, II may happen that the
mistress of the seas will have to pay advanced
figures for her future supplies.
CoTToN-The week ending this evening opened
with considerable promise, and operations during
the three first days were by far the heaviest for
the season, while prices advanced IN the mean
time fully 1c. u b. Advices from Liverpool and
New York were uniformly favorable for holders,
and the variations in rates OF Gold and Exchange
were of more modified character than for some
time previous. On Wednesday the demand fell
off, however, without any apparent cause, and
the daily operations eince thcn have shown n
marked diminution, accompanied with slight re-
action in quotations. Offerings have been ample
throughout, and the purchases, as heretofore,
have been mostly for northern United States
ports and the continent of Europe, Liverpool buy
ers having participated at no time except to a
very limited extent. There has been some specu-
lstion noticeable, however, prompted by unsatis-
factory accounts of the conduct of the freedmen
at various points of the interior, but it is imposs
Bile to estimate the extent Of transactions under
this heading. For better understanding of the
movement in Cotton throughout the week, we
would refer to the annexed synopsis from our
daily reports viz:
Saturday, oct. 24.-Tbe movement in the leading
staple to day has exhibited considerable activity
throughout. The inquiry has been general and
and Eastern markets. Rates of gold and foreign
change have been very unsettled aud lower, how.
ever, which have materially checked the upward
tendency OF cotton quotations; but, notwlth.
standing this, the active demand which prevailed
all day, together with more favorable advices
from the New York and Liverpool markets, have
enabled factors to realize an advance of fully 10
30. u 10. upon all classifcatons, while the total
sales footed up 4400 bales.
Monday. Oct. 26.-This has been the mos. excit-
ing day of the present il commercial circles
so far as regards the leading staple. Early advices
via the cable indicated moderate improvement in
prices at Liverpool and Havre, but they were off
set by heavy reduction in rates Of Gold and for
eign exchange at New York and in this market.
Rates of all classifcations OF Cotton have been
enhanced fully 3@3c. u b. here to day neverthe-
less, and an ususually active demand, which com.
menced soon after the opening of business and
continued uninterrupted tall the close of the day,
eliminated in total sales of 5000 bales at the
above advance.
Tuesday, Oct. 27.-Owing to the heavy opera
tons Of yesterday, to almost incessant rains to.
day, and to the absence of late European advices
till this afternoon, the movement In cotton has
been partially suspended since our last. The fav-
orsble tenor of the cable telegram which came to
hand at II P. NJ, however, impaired better feel
ing TO the Market and with the general inquiry
which prevailed from P. NJ. to the close OF busi-
ness operations would doubtless have footed up a
large average aggregate, but for the increased
pretensions Of factors. As II was however, sales
Of 300 bales have been effected, and the market
closed very firm at yesterdays quotations.
Wednesday, Oct. 2s.-The market opened this
morning with a moderate inquiry, at steady
and firm prices; .while many factors. in
anticipation of a still further advance in
Liverpool, did not seem anxious to sell
except at higher figures. Later in the day, how.
ever, there was more anxiety 10 realize exhibited
on the part of holders, Notwithstanding the fact
that gold and exchange ruled In their favor,
and the Liverpool and New York markets were
reported firm and steady, but the demand
had not been SO general as heretofore, most
pending orders having been already partially
nlled. Sales, however, footed up 1900 bales, and
| the market closed somewhat easier though NOT
| quotably lower.
Thursday, Oct. 29-The movement to-day has beer
| of limited character throughout During the fore
noon buyers uniformly refused to operate excep
| at reduced rates. but as advices from abroad in
| dicated no change in the European or Northern
markets. and as transactions In Gold and Exchange
favored Sellers the latter did not seem disposed to
| accede to the demand for lower prices. Later in
| the dey, however, some few factors concluded to
make concessions and sales were effected of 2S0t
bales at irregular figures the market closing at an
| average decline of &c. D b.
| Friday, oct. 30.-To-day the sales footed ur
| $500 bales at slightly easier but not quotably
lower prices. Advices from Liverpool and New
II