New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-12-18

minutes There is no money market where the agrl'
cultural interest can realize in anticipation Of crops
to grow on 50 low and reasonable terms as in this
market, New Orleans We have only to note this
evening that the offerings in bank have increased
during the week. The offerings on the street, OF
through brokers' are about in the same ratio last
week, though many of them complain of paucity Of
offerings. We quote this evening
90 a 100 days paper a 6k per ct.
+, Il az is months a Per ii,
Secopd-class names long date. GIL per Ct
Fat to paFsable names, long date IL g5 per ct
Short loans on good coaterals range at all sorts of
figures from u cent. per annum up to "a q 80 %
cent. annum.
The Exchange market, though under full supply
was controlled to-day by drawers. Sight funds on
New York advanced The banks, or several Of them
early in the day put the rate Of checks New York
up to discount. Frstclass drawers outside also be-
gan to feel their oats and advanced to a 4. Five
days sight was sold at net; sixty days sight AL
was held at u discount butwe must place rates at
from IA a II to f3 cent discount for choice to good
signatures. In foreign the transactions were very
meagre. Clear Sterling was sold at los q 108B and
lOS3 to dealers and for remittance 1889 a 1881 was
asked, though we did not learn of any large sales
above 1889. In bills with documents there were few
offerings which shows that the transactions in cotton
are moved through bills on New York, which is all
the same to most parties interested. We, however,
quote document bills at from 1914 a 1913 Francs,
very moderate inquiry, and transactions confined to
remittances, We quote 525 a 5224, with extreme
range from 5.275 a $40.
Messrs. Palfrey & Co. will sell at the usual hour
and place, at Banks Arcade, Bank Stocks, City and
Railroad Bonds, and other securities
The Stock market is well supported. The sales to-
day comprise
10 shares Bank of James Robb 100
0j =. Crescent City Bans, net at....,....... lO5
80 Bank y New ofssns ID several ott
IN State Bank the rates have gone up above the
the views of buyers. In Canal Bank the dividend
day being near at hand there no shares offering
Citizens Bank has gone up to 200, and we might as
we'll omit quotations when stock gets up two for
one.
We give our weekly quotations, which approx
mate the general sales and views Of holders:
sank of LOUISIANA. 100 paid. l570158
Louisiana stnte Bank t696l
lanal Bank l27a4S
dseGaaies and Traders Bank. i05a55}5
Bank Z New i6i05
Southern Bank 100.
Crescent City Bank I45@G
Bank Of America. lO31a9l4
Commercial Water Works 100 sales Is
Gas Light Company 100 ,.,,,...,,.... l3S
IRlrnton RRiroad. nominal
Ponchartrain RailroRd
southern Pacifc Railroad
9Pelousas Railroad 70 ..7@73s
~ resEiqtel Company mo sale,
pe9ean Bry p9e6 sales. 5t
New Orleans ms, Company. 270a28U
City Consolidated Bonds S8d9O
favee seSf Cotton Press s}s
Jackson Railroad percent Bonds ...,..,.......74@76
Union Insurance Company for 20 paid AZ
Hope Insurance. Company, last sale. 80 fo 30 bad
Star Insurance Company i0i@l05
NeR ire4s ny DOCK nominal
Crescent Dry Dock nominal
Southern Steamship Company. 9395
ERrondela nal Company last sales. 79Sl
Teh4anepec Co. bonds Sper 55g56
Do stock --.'...t.'' ..-........'tt
Southern Oil Company .,.....,.....,....s....,..
There have been larger offerings ofuncurrent bank
notes during the week The demand for the same has
also increased which has enabled dealers to enhance
the rates The receipts of foreign silver and bullion
reach nearly 100000. We have to note an advance
in Mexican dollars which now are bought by bullion
dealers at l033, 1885 a 1889 In American silver, or
the coinage under the act of 1853 there has been an
enlarged demand for various points, One, particu-
larly Tennessee has caused an advance. The dealers
now holding at discount. The amount held by the
banks is greatly reduced. The sales during the week
of half dollars reach in the aggregate S12j 600 But
the recent order Of the Secretary of the Treasury
through the Director of the Mint at Philadelphia has
not caused the advance but silver (ke other commo
dities, has been governed in price by the mmutable
laws of supply and demand. The Secretary of the
Treasury in his report to Congress says the Director
Of tue aint recommends that silver be made legal
tender of fifty to one hundred dollars The Secre
tary however does not coincide with the suggestion
He is however, behind the age, because the increase
in the standard or tender by law will go farther to
Danish the small note currency than all legislation
combined. We have said this frequently and events
are turning mp every day in confirmation Of our views
Mr.. Cobb and ourselves agree one point in oppos
ton to the recommendations Of the Directors of the
Mint in issuing Mint certificates or deposits as low
as fifty dollars. This suggestion, if carried out would
be making real and unadulterated brokers' office Of
the Independent Treasury. The independent Urea
sury has worked along very well, and it is hoped
its independence will be maintained. We do not be.
lieve in the General Government being connected
with exchange dealings. In the meantime, however,
We may with the highest considerations suggest into
what account does the difference between 81 225 a
81 q q per ounce of silver standard 60 Mr., Jones
complains under good and sufficient causes, if he
sends his 1000 of silver bullion to the Mint
for coinage, he is entitled to the full amount Of its
value less the segniorage which certainly cannot be
fifteen dollars ID one thousand ounces. The Treasury
Of the United States cannot control the market value
Of silver than it its Treasury notes after
they arc once on the market We have said this be-
fore, and only repeat it to keep our Congressman
posted in these high political excitements.
There has been some inquiry for land warrants, and