New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-12-10
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CRESCENT oFFIcs, No 70 Camp street.
| Thursday Evening Dec 1853.
/ The money market was quiet to-day Some few
negotiations were made in good and fair commercial
signatures at the rate Of per cent-that is, round
lot was taken at that figure. Some were considered
worth "a 7 per cent, and some 10 a L. per cent,
50 shaking the whole up, the result turned up at
per cent The offerings in bank were on the iufntes-
imal ORDER and money is now actually drag Il is
for sale everywhere though it has advanced on the
London SEbck Exchange from a % per cent, with
the Bank of England holding the rate Of discount at
per cent, The expectation that the bank would re-
duee the rate below per cent is no longer enter
tanned There is d continued demand on London for
silver for shipment to China without any recognized
advance in price. We have therefore very little to
say on the money market this evening. The article
is abundant and likely to continue So
The Exchange market had a very dull appearance
to-day The rate for checks on New York was uni
form at the banks say dis, though round amounts
were obtainable at I discount, Outside there were
several sales at I, 1915 q per cent. discount. The
buying rates at the banks being 1916 a per cent
discount Sixty days sold ut II q II to q a dis
count Sterling clear bills were taken at various
rates, ranging from 1919 a 1O8 and 1855, with some
to draw at that though we cannot exactly discern,
with the limited importations from Europe, why so
much exchange is required unless it is to pay the in
terest on the millions of State Bonds, Railroad and
other securities, which are held by the capitalists and
nobility Of Europe. There was very little done in
francs to-day The rates remain at 5.2S a $50 to
to 5.25 0l5223.
In Stocks to-day there were sales of 100 shares of
u
City Bank at lO4; 10 shares Bank of America at
l044 and 152 shares Of Jackson Railroad at lO4. The
City of New Orleans is in the market for the sale of
100000 of bonds, being per cent, redeemable in
the year 1892. Proposals will be received until the
30th inst, so those who desire to take good invest
ment, can make arrangements accordingly Messrs
Pafrey & Co. hold a sale of Stocks Bonds and nsur
ance Scrip at Banks Arcade on Saturday, the 18th
instant.
The European adyices Of the oath, expected by the
City of Washington, were received last night. They
not regarded neither one way or the other as the
accounts Of the 9th fully due. They will be con
sidered in preference In the meantime cotton hold
its own and is expected to do so for the present as
the holidays at hand, when falling off in the re-
ceipts always takes place.
We alluded in our last to the false packing Of cot
ton, which has brought out the following report re-
garding the purchases Of cotton last season for
Northern orders and account. The Merrnack Com
pany is Of the staunches in the country and has
always purchased largely in this market From the
numerous decisions given, we cannot perceive how
any doubt can be entertained regarding the liabilities
Of sellers factors If factors received cotton and
sold it free Of charges and commissions the question
Of accountability for reclamation might be considered
in another phrase something similar to a recent de-
cisiOn Of one Of the courts Northward lin Canada)
which was decided that there was no liability in
cured where no charge was made. We learn that the
Company for whose account the cotton described be-
low was purchased, has sent out instructions for
full investigation. The sellers Of the cotton will ul-
doubtedly, as they are in honor and justice bouud,
make the difference good even if the planters cannot
be traced
Schedule Of 0iutsRhy packed Cotton opened M NrrimlaG
Aaaydcthrfag Company from June % to N0B 10 1853
M nPa ,,.,fFr