New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-12-29


a g. Generally, we do not look for many large
operations for month to come. Holders will finger
the dividends before selling and then they will hold
firmly. We learn that it is in contemplation to in
crease the capital of the Crescent City Bank. As
there is good deal of surplus money, which may as
well be retained here as to seek other places for in
vestment
By the return Of the banks yesterday it will be seen
that there was an increase of short loans for the last
week of over half million of dollars and an equal
increase in dead weight, making in all an expansion
of little over million Assuming that our eleven
banks were working under one law-that is, the law
of the old chartered banks of 1872 they would be re-
quired to have on hand only $ll IFS OOO-they have
now over sixteen millions and quarter and s., 420,
600 in exchange, which is equivalent to coin, or
nearly So making nearly twentysix millions of dol
lars of real and immediate cash resources against
liabilities of circulation and deposits of $33 534 885
In addition to the immense array of assets to support
these liabilities, there are nineteen millions and four
hundred and ffty-four thousand dollars of as good
commercial, factors and general business paper as
be found in the porte euHes of any banks in the
broad commercial world Perhaps some folks may
think this is strong expression, but figures support
the remark, and it is undeniable The four old char
State Bank, Canal Bank and Citizens Bank have in
coin $l2 ,589,OOO They required by law to have
only S., 271 $50 The seven Free Banks have in coin
$366S, 837. They are required by law to have only
81 023 1913 For the information of those who are not
posted up in our banks, we have to state that the
capital of the eleven is $I7329 600 though there are
reserves or profits which are worked on.
A little over a year ago we had to allude to the
ing the wild panic by the old and long established
house of the Messrs. Dennistoun & Co. of Liverpool
London and Glasgow. 1t is gratifying to us to have
to announce that they have surmounted all those
troubles resumed business in full, and are prepared
to enter into exchange operations the as previ-
GUS to the reyulson.
The announcement comes with more pleasure from
the fact that the house has had branch in our city
for fortyOne years maintaining itself in all that long
period until last fall through the most violent panics
say of 1919, 1925, ls37-'47. If residence we may
say or branch of forty years duration is not sufi-
cent to give firm standing and credit, then the
ordinary life time of man will not be long enough.
It will be seen from the following that the firm give
public notice of its resumption of the general ex-
change business, which is of so much importance to
the great trade of New Orleans, and we heartily join
in the satisfaction experienced as we have long CON
sidered the firm as one of the old supports and foun
datons of the commercial fame and standing of the
Crescent City,
We have the greatest satisfaction in announcing
that Tuesday, the Both inst and for fourteen days
thereafter we shall be prepared to pay last two
instalments, due respectively on the 3lst Dec 1859,
and Both June, 1860.
J. & A. DENNIsroUN, Glasgow.
DENNISTOUN, Cross d CO., London.
A. DENNIsToUN & Co., Liverpool.
| Referring to the above announcement, we beg to
state that continue business of buying and
selling Sterling and domestic exchange and granting
| commercial and travellers credits
A. q j. DENNIsrOUN & Co.,
| No. "a Carondelet street.
Our dates to-day from New York were to the 22d
inst. A money circular from Wall street for Europe
by the steamer of last Wednesday thus remarks
The leading features of the stock market continue
much the at the date of last report of 18th
| inst. Money is still very abundant at low rates of in
terest, and, except moderately increased movement
in which the public have little or no participation
| in the mere speculative descriptions, business in
stocks continues exceedingly dull. State bonds and
other productive Investment securities have however
rather an upward tendency; but railroad shares on
account of the discOuraging character of the traffic
returns, particularly on the Western lines, gen
orally heavy. In some cases there is material de
cline from last quotations, caused in part by the
late untayOrahe accounts, regarding American stocks
from London, and the return of securities for sale in
this market. State stocks have had slight upward
tendency, and continue firm at the close. OF United
States loans there have been small sales of 5s, 1865
at lO43 a 1915 and of u.s. 1874 at 1913, the market
for the latter being steady but without animation
For Railroad Bonds prices have generally receded
and in some cases materially the transactions con
tinuing on a very limited scale. For Railroad shares
the market has been moderately active, the transac
tons, however being almost entirely speculative and
the course of prices rather irregular, In some cases
the fluctuations have been very slight, and the pre-
sent quotations are about the same as those given il
our last report but the Western shares are generally
considerably lower in consequence Of their continued
light receipts. The greatest decline is in Illinois
Central Is f3 cent? caused by the lower quotation!
from London, and unusual pressure of stock upon
the market. The money market is unchanged, the
supply continuing abundant at low rates. both cal
and for discount of frstclass paper The advance il
European exchange has led to larger exports of gold
the shipments for the fortnight amounting to $IOl9
$50. There has also been a considerable amount 0