The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-03-07
Commercial antsIlisents.
Or.'on; y,, 9,, s,:I no y ss CIT

Friday Evening. March s. 1885.
The revolutionary proceedings at Washington
continue to have an unfayorable effect upon
general business, inasmuch as no one can foresee
from day to day what may or may not be ordered
in the future. Tie ukase of Gen. Grant restoring
20 place and power IN the city parties who had
shown themselves unfit 70 hold Office. has de-
stroyed all confidence in the city currency. The
banks and private capitalists, although over.
bUrdened by the rapid accumulation Of currency
scarcely know how 10 invest ii, and have become
unusually cautious In the selection of securi-
rites. A fair business has transpired In the lead
ing staple during the week nevertheless, but it
was almost wholly on foreign account and
on the part of local spectators. The I'm.
provement in the navigation Of the upper rivers
has let loose large amounts OF produce and pro-.
visions which have been received or are on the
way TO this port. Transactions In tobacco, sugar
and molasses have been restricted for want of
ample supplies. Breadstufs have been In fair
request at irregular figures and provisions have
been quiet and steady throughout. Gold has been
dealt in heavily at but slight alterations 10 rates.
Foreign Exchange has changed hands 10 consider
able amounts from day to day at gradually declin-
ing prices. Domestic Exchange has been quiet but
steady throughout with a hardening tendency of
rates towards the close, and quotations of loans
and discounts have uniformly ruled as heretofore.
53 cent. per anpum, discount at bank, and l0ol I
u cent discount per month cut of doors for short
Pilt edged notes, and lO0l2 y cent. per annum
for long dated choice paper secured by strictly Al
CoTToN-A heavy and rapid upward movement
In prices has been the most prominent feature of
the Cotton market during the past week. With
adverse advices from Liverpool and New York
during the fret three days holders persistenty
fused TO make concessions, but when the former
market advanced TO an appreciative point factors
became free sellers. By pursuing the above pol
icy very handsome returns have been secured to
planters, and we deemit but a simple act of JUS
tice 10 say that the factors Of this city, as body,
deserve the very highest commentator for their
judicious movements generally, but especially
since the close Of our last weekly review, not a
few Of them, although in straitened Circumstances
themselves, have waiv ed their individual interests
70 subserve the interests of their patrons. 1t is
hardly necessary to add that the policy referred
70 has been the primary cause OF the reaction 10
the European and Northern markets. To-day,
however, there Is some evidence OF let up on the
part Of buyers. but of this we shall speak more
fully in our closing remarks. Subjoined is blief
summary Of the daily operations, viz:
Saturday, Feb 29.-The week and month close
uponavs steady cotton market. AT the opening Of
business to-day prices were reported easier, owing
70 continued unfavorabie advices from Liverpool
and New York, but as the day advanced factors
assumed increased frmness, and the principal
operations for the day, which aggregated 5000
bales, were effected at full previous figures. which
We repeat as follows, viz: Ordinary lIte9lsac
good ordinary l9a920c.; low middling 2Osc.g-
middling 2l@2l3c., and strict mddling -@I1c
The Offering supply has indicated no improvement
whatever either in quantity or quality to-day, anc
the latest adyices from New York, announcing az
advance IN that market came 10 hand at too late
an hour TO affect quotations here.
Monday. March 2.-The market opened
This morning with unusual frmness aud 8
steady upward tendency. The supply OF
sale was. il anything Of more restricted
character than heretofore, and with bu'
few exceptions the offerings were undssirs
ble.>~ Buyers came forward freely neverthe
less nddespite the fact that the early telegram.
Indicated no improvement either at Liverpool OF
New York, several hundred bales soon changed
hands AZ an irregular advance OF 40ie. u n. The
afternoon dispatches disclosed q further decline
in the Liverpool ma ket however, with increased
dizziness at New York, which caused buyers &C
Esreed, rates fel of TO the closing figures Of Sat
DAY. The sales for the day were 5SO'