New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-02-12
Sltn @rItans Sfluntu gflarkEt.
oansoEsI oTrIeE. No. 70 Camp stree

Thursday Evening, FEB Ii, 1858, )
TIE threatening aspect the weather to-day not in unison
with the money market The increasing supply Of money for
investment good securities still increasing Though there
has any material recession in yet buyers take
with freedom and anxious to secure good sigma
the rates, those which have from day 10
day noted this week There sales to-day by party
Of $4,000 the Of u per by
another 10 per cent and sma Of IL months Of
high grade per Good paper is daily growing
and keep under spirit of general contraction
there may be paper Of satisfactory make in market in short
accordingly the outside market altogether in favor Of
The banks discountng with great freedom
all satisfactory paper days and that good
share Of the offerings.
The exchange market opened amey and continued through
the day The banks sold checks New York from parS
discount Outside the ranged from 5si4 dis Pretty
tensve sales Of three days sight made 9S discount
Thirty days in demand at sgl6 Some large sales Of high
grade 60 days lsgl discount and good TO far from 1929
"a observation-disclosures rule for good commercial drafts
@29S discount Sterling quiet The banks did nothing
day the way Of purchasing. Some small Of bills Of
ladng drafts taken outside At l065slU and clear bills
los The three principal banks dealing sterling exchange
gard Liverpool with great dsru
appear inclined wait few days OF course private dealers
bold and purchase prospect of profit offers The
exchange to-day based weeks prices did
of any sales FOR remittance day being passed
for this week advanced This owing decreased
shipments for France the bulk Of the transactions for that
ke being for this We quote small sales
52s1695 s Paris diree-extreme figures being from 81
d5 lS9l. Drafts on Bordeaux $780,
There transactions in stocks to-day unless the
change shate of free bank for that another
termed a sale
PAfrey Co hold their regular sale Of Stocks Bonds ard
serps Saturday at the Arcade.
memorial has presented by the Board Of Trade of
Philadelphia the Pennsy Legislature requesting that
all regulating the rate Of interest be repealed and allow
the banks city negotiate the same according
Misunderstanding similar the mode OF the Bank Of Eng
land believed the system would work well every
We expect long the Of money hand in the
this city large that the Of real commercial
paper will absorb than half Of the of
banks provided the contraction in business which has been
sng on the past months the balance
OF the The very favorable change in foreign markets
will undoubtedly induce many factors to extend their operations
in the Of accepting and advancing the crop 70 be missed
the coming Although the laws regulating interest in
this regarded only by banks yet NewYork
usuy laws of that State force people to double aud
triple for money The banks OF the city Of New York
year average profit Of 10 their capital
unquesonaby the interest borrowers had pay
loans doubt whasyerif the uuy laws in every
State repealed money would be had from
than under the foolish and absurd
which pretend regulate TIE Of interest Money
commodity like anything else used commercet has
sares Of just the -four and pork. We observe
every dag silver coin authorized by law selling the
ket at l61l1 aud per discount Selling for whati Why
selling gold coin -four cotton, and moasses and
again exchange for bank law has passed
by the Legislature since the panic prohibiting the
banks charging than per prem
ium for Northern cities aud New Orleans Nov this
called balderdash legislation. Why not
negotiate the price and value Of cotton
Regarding interest money it viii be from the follow
ing of the Loudon Times that the Bank of England
reduce it's rates OF nees, compete with private
| capitalists The last London Times at hand remarks
England day reduced rate Of dis.
from cent at which ii fixed the l7h ust
This the lowest point touched since the 9th of ober 1856
period o. 10 months Many persons expect further redae,
steadily continuing for Ihc
return sl2 Casio d. Notwithstanding The payment Of The
amount rather below he average hed At periods when
and the stock Of bullion throughout those
El6O0 O0 the Directors Of the Bank having in ls udis-
even hinder the former sum The Number II weeS ur M
ten yesrs in which per cent has reyalsd - and the
dion Of about mion and half to the existing stock Will
therefore be requisite according precedent bring
beio y, will be reached. =
Another London paper remarks s follows
The edueon Of the Of discount by Directors
from e6 per cent esri IN the DAY created little SURPRISE
decrease Of he private securities viii ID IS expec,ed whsp h
neS Gazette return shah be Published completely jusufy
movements Of aisis ia tbs closely watched
as lie Treasury ceHmse thmseiye 81 aoS I Ss s sS,
value Of money and Consequently the eject upon prices
business ept from the regular the charges in
low present minimum The expectation appears 10 he ina
tue Directors may yet have TO reeede another half
considered before II on since Il would lead
speculative activity and be attended with very Dangerous
| suits
Our New England folks be called modest and perhap
amable IN their failures and suspensions. An immensely
both going regarding the failure Of Lawrence
Stone Co.. OF Boston. This Is Mr. Samuel Lawrence brobe
OF Abbott Lawrence the wealthy merchants Of Bo
ton paper Of The inst audes the late 6m
follows:
meeting court Of Insolvency to-day The creditor
Of Lawrence Co. Charles h. Head aud John Lowe
chosen asssnees The amount Of liabilities proved
about including aeeeplaness for the Bay State MIL
Pemberton Mills Middlesex Mills aud New England worsts
Company. Among several large claims proved by eredo
the claim Of Boston gentleman for the sum Of thl'
hundred aud thirty thousand dollars GS3o00o large
banking hundred and twenty eight thoaan
dollars, 00 and Of the Boston banks, varyln
from $3.50 to ss7v0a Among s debts proved
held BY savings banks in the vicinity Of Boston. Il
understood that the parties proving against this firm
other names upon their books upon which they will in
reaize the face Of the Debts presumed
mills Of which Aessrs Lawrence Stone Co were agents. an
for ~hieh most Of their Indebtedness eonraced will
able &c pay IN full nearly hundred
dollar. The whole Indebtedness Of Lawrence Co.
iheir INT Of the daerent m between three
! four millions Of dollars