New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1857-04-15

aiming them might not be regarded hardship but when
these daily statements to be the foundation of the weekly
average Of returns and under which the law will be called into
reauior it placing all moneyed institutions condi
tion that we think not intended by legislators
roboates views that machinery of ought
be disturbed for slight We have yet to learn that the
management of Banks and ALL warranted the very
stringent statutes which going into effect and causing
than large share of the Tightening OF the money
market Possibly the withdrawal Of capital to other places
may be attributed portion of pressure This shows that
legislation does not take due consideration o. the general
financial position of city Whether from want of informa
on lack Of that TALENT skill and sagacy which marks the
Of discreet learned legislation do not pretend
say.
There were negotiations of long dated paper in small
at the rate Of per cent for the very best of Al Make which
at this season negotiated at per cent Good
grade at 9l0 and fair names at l2 which is on
average from l2 per cent above last years Short
loans on good hard to DO realized reasonable
rates Whether holders Of money capitalists feeling their
oats Just this moment do not know, but many buyers
Of paper got through, those in the market may
advantage of the slight competition At the same time there
nothing any suppoon that the present position
affairs can be of any heightened duration. s,.&
Exchange had decidedly frmer aspect and under i'm
proved and for grades active demand the
yesterday fully sustained with grades speca
purposes slight advance being realized of sight
New York made freely at Kos premium thirty day
sight S9A discount bankers 60 days IL dis other drafts
l4@la discount The Banks firm in checks the
s 9premiumhe latter for remittance and of good make
Bills with shipping documents pretty firm S1S1 Francs
525@5.2l4, with sales Paris direct at $40. The marke
generally closing under good demand and much in favor
drawers. ~.
In stocks we heard of the sale of IS shares Bank New oean
at 1854 and so shares Commercial Water Works 5l There
were other negotiations going which not react
contracts.
Insurance is Of the elements Of commerce. and tht
very founaaion Of the whole mercantile Fabric
CITY, which believe surpassed by others
this confederacy of States in point OF oy and soundnes
in the prompttue and punctuaty with which losses
adjusted and paid While abiding to insurance matters
omit the prominent feature the engraving of the SCRIP
certificates Of the Sun Mutual Insurance Company this city
Every cognant of prominent citizens past and
and those present. will recognize these scrip
ite Of the late Leonard Matthew'S We not thai
any object appropriate could have been selected We
only hope the certificates will always command good
value Abiding to Insurance. calls to mind the origin
Marine Insurance. brought during the proceedings
Of the London Institution of actuaries:
by r Smith Esq in which the writer stated his opinion
that the earliest direct mention Of Marine Insurance is in
ordered that vessel should be insured than
h at Bason ]
board ship belonging TO the King Ct and that
longing other countries should only be insured for half its
value most probable that the inventors of Marine
leading commercial nation in the 18th and 18th centuries
was In Venice that the first Bank was established and That
duced Bills of Exchange if invented in Italy.
extensively by the Lombard merchants and money dealers and
book keeping by double entry is of Italian origin and is
the phrase " Policy Of Assurance
Our Louisville dates give the following the position of the
money market:
Money continues in active demand Our Banks discount
ing very sparngy although there is real yet there
is considerable difficulty in obtaining accommodation.
ExoHASGE--There is heavy demand both in and
Banks for Eastern. The Bank rate is u premium while y and
sometimes premium obtained outside On the South the
demand is light Ids discount buying rate 4l1a premium
selling rate. On ST. Dous there is considerable demand at
premium. ~ o.sM ss1
Land Warrants dull yet little activity in the de-
mand has been noticed the past week We continue quota
tons of last week GO and l20 Warrants 95c 50 and
l60 acres, 96@9aSc; 40 acres SlGDl Us.