New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-11-17
ss1en 0rlfars gtloleg 5Earket.



The general money exceedingly quiet The sales
of paper on the 81 a per cent for March and
April aturies The offerings in bank were light with some
Of lie banks up their income, with others not oneha
Specie continues ow in and unless there advance in
sight funds York attended with enlarged demand
two or OF nks will have to order their large
baaace back IN COT The New York market in regard to
foreign exchange sympahses vito ours perhaps sym
pahises with that 1t is ministerial how the case stands
gold has got to come hhe to move large receipts Of pro-
duce rather 10 invest in exhangethe proceeds Of said
change moVing the produce would not be profitable
paying business for English spinner New England
manufacturer wanting say thousand bales Of cotton
specified pce TO Atty sixty thousand dollars in gold
with the price limited So il is the heghh Of
folly planters and growers Of cotton to II Mr. Bull
Mr. Yankee wants my cotton let them bring the gold and they
can have and such prices and This will all do
very we'll for and talk. The gigantic business Of this
country be conducted by exchange and the balance Of
trade purchases Of staple be settled III COIN for
which purposes only few millions Of gold necessary, We
learn that the Governor of Arkansas in his late
comends the suppression Of all bank notes under fifty dollars
The intercourse between Arkansas New Orleans
Importance and the cotton raised in Arkansas forms
Of the links the intercourse bat Governor Conway need
expect any passed by the Legislature of his State
will prevent citizen Arkansas from refusing
i've twenty dollars Does any suppose that pro-
preor Of woodward the banks of the Mississippi
within the Jurisdiction Of Arkansas will refuse from steam
boat the notes Of either Of the banks Of Louisiana they
five hundred dollars Does the member of the Legisa
bank under twenty being circulated
that sny citizen Of Mississippi will the notes Of this
city for anything he may have for these are
all fudge and ddlescks Public opinion everywhere it ad.
mied against the notes under Ave dollars and those
who assert that the panic and crisis of 1857 brought about
by the banks issuing twenty dollars know no
about finance and trade than the highly estmable gentleman
who - represented to have his locality in Queen Luua domn
ioA It suggested that the members Of Legislatures
Mississippi and Arkansas will not eomm themselves such
legislative fol Does any believe that the citizens of Bay
St. Louis Pass Christian Mississippi City Biloxi will refuse
receive bank twenty the Of New
Orleans when rendered. any legislative pre-
the Jackson Railroad from receiving the citizens of
Louisiana bank note Of ye or ten dollars for passage or
freight We trust nsighbors Of Mississippi viii
themselves ridiculous.
The weather cleared off bright to-day though nged with
something Of Lapand feeling Business moved on quietly,
though brisk Il dull
The Exchange market had the downward tendency we
noticed yesterday Telegraph advce5 from of last
evening" the 18th inst quote further decline In Sterling
change The of bills offering 100 This
Information expected from the the private letters
of the 10Th inst, which quoted 1895 a 09H with heavy
market The best of francs sold at 5l715 a 5ls2<
These accounts had however great influence market
only strengthen the position of buyers who offered 1906 a
1867 for bills with documents and clear bills 1871 a lO7
Theirs were however sales OF bills of siD under
great Margin 10T The demand remittance was slack
We quote 1878 a 1854 according wanted In francs
there sales 52 the range of the market being
doing The counter rate for checks x Some sales
made at q discount and args outside sold u
discount, Short sight I6 a IA discount sixty days sight
from IA to 2 Pa "a "a "a discount The supply free, and
the market closing altogether in favor Of buyers.
There very little done in Stocks We only heard the
100 shares Gas Company $780, ITO shares Of Jack
son Railroad price Of which will known tomorrow
Suppose bank in Louisiana had failed became banruped
during tie crisis Of 1851 like the great Ohio Life Insurance and
Trust Company the Empire City Bank Eighth Avenue Bank
Island City Bank and Bowsry Bank located in great
polls York Bank Of Pennsylvania in Philadelphia
with the hundreds Of other hanks which failed suspended and
have resumed will resume would we in New
Orleans have beard the last of for twenty years at
leaS We find however that bad bank failures
confined this side Of the Atlantic as well kno wn by
the bankruptcy Of the Borough Bank Of Liverpool other
banks in England But taken aback at the
Oosanes and wantonne5s OF the Of the Western
Bank Of Glasgow which failed 1857 Scotch banking has
long been held criterion fo the banks world The
annexed remarks do sustain the high
encomums heretofore granted the Scotch finance
The failure the Western Bank of Glasgow Scotland has
spread unparalleled ruin throughout that city Thirteen un
bred families Ind investments in the concern which in many
widows and orphan daughters The total paid up capital
That the whole Of that property swept away
no nag nothing ese YOU'D 6s reduced 70 de1tuon was
time ranpired that there would be deficiency Of 81 100000
addition 70 the loss Of the whole capital call Of SI25 per
share accordingly enforced all who had anything left
@ s a sPs @ bannaD sn i g. g 9ad
call il would be light. Complete establishment therefore,
instead 81 being 81 56OtOO had proven 10 be 81 0o S4d
htt upon eah share fresh payment of 800 would be required
within twenty-four days
large portion Of tho stockholders having been already
ruined the number Of those be respond is limited
calculated that Of the thirteen hundred than
hundred aud fifty win ultimately have property Left Many
the sufferers have died have iusane children
have been thrown the charity Of friends and strangers and
there Is scarcely family in the district which some
extent afflicted. One eminent retired merchant who had
vested the whole OF large fortune in the has died Of
broken heart Yet the directors majority Of them have
adopted bold and INSCRIPTIONS tone the last They relied
upon their parliamentary Influence especially among the Tories
their chief apoogists they have Sir Archibald Allison the
author Of the history Of Europe