New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1855-08-22
COMMERCIAL MATTERS.
Mem ORLEANS alouep Mlarket.
CRESCENT OFFICE, No. 10 Camp street,
Tsuasday Eveuino AuQ 81 1S5

Z
Tuesday Evening Aug. 81, 1856 !.
There nothing observable to-day in the general fe
lures OF finance and trade to distinguish from any other
quiet day in the month Of August Gases of sickness and
death still continue but to extent to interrupt the
ordinary Of business and trade With the acel
mated and permanent residents of city high degree
of health continues and commercial community,
and all prepared to render the usual In every
department and branch Of trade which go to make the
great trade Of our city. 7..a
The Money market Ia easy. The offerings in bank TO-
day were limited, extremely SOL particularly in the ct
zens and Union Banks, which, with the Bank of New
Orleans discount Tuesday. 1t wholly unnecessary
for person with good note negotiable securities to
approach bank managers sanotum with hat in hand,
and beg his securities be duly considered with favor
Possibly one or two Of the old banks would not aeceds to
innovations old rules because their chief officers
may be absent but this age of progress Is percayable in
banking institutions and the chief managers Of
Of our banks desire to be accommodating possble
in many instances cast aside old preudices and give
applicant his quietus at once without delay and argu
ment In city like New Orleans where years business
has to be transacted in eight months requisite that
all financial operations be promptly and sumnarily
decided. quorum of most Of the boards OF directors
could be readily convened at o'clock every morning
twice week Or in that quorum could not be
formed, (aud not more than half the time quorum
be otsned sufficient discretion ought bs entrusted
the chief executive officers of bank to do the needfu
We have heard great deal in day Of strong paper
but losses have occurred the banking institutions
Of Louisiana from taking what's called strong paper than
there have been from accepting that coming under the
denomination of second, and third class Strong
paper, in the common phrase Of the daywhat does it
mean2 Firms that assume responsibilities by the hun
dred thousands predieated crops to grow 70 be
raised. Distinguished buyers of paper and lenders of
money, have frequently remarked that they lost more
from buying what termed in the bank paror strong
than they did from purchasing such rejected
the banks for want of supposed sdty afterwards
placed the street 1t is conceded hers is class Of
dealers and traders in community who have
to bank favors from this very circumsance-that they
are supposed only to occupy second third rate stand
ing in the commercial world but who in the end nvari
ably turn up strong, or in other words fright side up
We trust many of bank directors will weigh well the
purport of our remarks and them With fuller force
the coming business season.
We have no change to note in the general condition Of
the money market for to-day Paper on the street
tinues scarce and rates almost nominal Good paper,
however, can be placed from to TO- according to the
time it has to from that II and 70 and 10 to Is for
names less known, but will be paid promptly on the
day Of maturity or in other words it just good as
strong paper.
Exchange was dull to-day, but no decline in rates
Some good sterling bills placed at g, though for
direct remittance ga and fraction over ia sometimes
asked. Bills with shipping documents are scarce there
msy be better supply in few days as all buyers and
operators in cotton have yet themselves or
Withdrawn from market Northern funds are held at our
quotations of last evening without any increase In the
supply desire the part drawers to accede to
decine and if it was tbs season Of active operations
should consider the day closing by drawn fight be.
tween the bears and the bulls
We present below extract from the first annual
report of the Louisiana Savings Institution This Com.
pauy incorporated by special the Legislature
in March, 1884, organized and commenced business on
the Sd August, 1854 Notwithstanding the period Of its
commencing to receive deposits at the depressed
of the season. followed during the Fall by the sus-
pension OF three individual private bankers
in the practice Of receiving savings deposits which
created prudces similar institutions the bust
ness OF the Louisiana Savings Company has truly pros
pered and presents new evidence of confidence the
part of the dspositors and the public
Deposits of so small dime are received;
and truly this ought to encourage those who are de-
pendant on hsir daily labor for livelihood to habits of
economy and saving. By resolution of the Board of
Directors, all deposits be withdrawn on demand
without going through the usual formaes Of previous
notice.
By the terms of the charter it is allowed to discount
paper the its abilities which has been carried
out during the year, that the its loans and
discounts reach the OF sFentyone thousan seven
hundred and eighty dollars This sum has been loaned
chiefly to mechanics and small traders who never obtain
sar facilities at the regular banking institutions and
although The past year has been marked many ycis
STUDIES and disasters in the commercial world embrss
also many msforunes among the mechanical and bor
class yet this Company closes its present years
without one dollar piece of paper being under pro
test With all these facts before u.s. have no hesitation
in urging the aboring and mechanical classes the
cesSty of saving their little receipts and placing them
where they will be productive of benefit themselves nd
their childrenreleyng themselves of that critical de-
pendence which their habits and mode of life engender
as we'll as providing for old age,
Statement Of the Louisiana saringS Hstit1oat for The -
ending august Sd, 1895. yea
Deposited during the sadi 81 August, 1866
Ga ihterest rs
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