New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-12-30
asa 0tIeans 1aiIg GrsstslIt.
2
THURSDAY MORNING, DECEMBER 80, 1858.
gEsn UTIsans Etlonsu 9fIarAst.
CRzsCEET OYF1CE, No. 10 Camp street,
NEa.I 1 49, z ....-.-u.. IL. % 10

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limited scale. There was some paper offering. which
was not taken, buyers views not agreeing with sell
ers. The supply Of capital is, however free, but at
this particular time of the year lenders and buyers
hold at higher figures, promising that the fourth Of
January enhances the wants of the public. The
banks, however are in condition to grant every cali
on paper maturing inside Of ninety days, provided it
has locality and slight regard for punctuaIity
and soundness.
The great fulcrum Of trade to-day, exchange, was
dull of which downward tendency we noted in our
last. For foreign bills the market opened anguidIy,
moved along heavily and closed fatty. Clear sterl-
ing receled to los a 1084 and 1888 which were the
dealers offers without caring to invest. Bills with
documents 1913 a 1919 and 108. Towards the close
Of business buyers evinced desire to purchase
less under their own views, which would be an aver
age decline from the commencement of the week
of fully u cent Francs heavy though offerings
were limited. The purchases of cotton for France
are about over-that is, to a large extent The best
bills on Paris direct were obtainable at 20extreme
range which covers all points, 5.264 q $50 Domes-
tic funds, with the exception of sight funds on New
| York, partook Of the stagnancy. The counter rate
at the banks for checks was ! y cent, at which
figure 1926, 900 taken Outside rates ruled from
| ! a discount. An abundance of favorite names
to be had at /. Sixty days sight heavy. Double
Al drawers held at 49, and several round amounts Of
| Al commercial bills were offered at II a Ii. About
100000 were taken at IL a L. and some at II dis
count AS there was some inquiry where large sums
| of sixty days on New York can be disposed of, we
have only to say the jax can take from quarter to
half million at from Ii a 70 cent. discount. The
President of the Ajax thinks it use to work for
nothing, as his stockholders might complain. He is
/ G GI--
fun of it..
There were some transactions in stocks to-day,
among which we note
100 shares Bank of New Orleans
100 Southern acihc Railroad, old stock, ST. time
100 shares jackson Railroad II
80 shares Bank Of James Robb n
Proposals for the purchase of 100 bonds at 81 900
each of City Consolidated Bonds will be received by
the Commissioners of the Consolidated Debt at their
office, City Hail. until IL o'clock noon tomorrow,
Dec. 80. These bonds are redeemable in 1892 draw
ing per cent per interest, with coupons at
tached and will be issued in conformity to the 37th
section of the act consolidating the city of New Or
leans. OF course it is unnecessary for us to repeat
that the interest these bonds is provided for yearly
before any other legislation can be considered by the
City Council that the security of the city is ample
and in fact there is better investment for those
who have money than these and other bonds of the
City of New Orleans. The city authorities are re-
stricted by Legislative acts from enhancing the debt
/ of the city beyond certain amount. Capitalists
viii do well to send in their proposals (fnot alreadyl
tomorrow morning.
The question: often asked, whatis cheap money
Money NAV be dear here at los cents VI dollar or
"a cent Ia annum, and cheap in Missssipp at ITO or
TO v cent. 49 annum. Money is a drug with the
owners thereof in New York at l04 a los or a
n cent. u annunl, and with money worth no more
than these figures the banking institutions Of that
CITY continue to increase their loans, expand dis
counts. and are LAYING the foundation If another
manic. Though thew do not manufacture hank notes
ad hbituna. they have kind of bastard currency in
te shane Of certified checks which in reality is yer
little better to an endless issue Of bank notes. New
Workers, for ought all we care. NAV increase their
debts exnan their liabilities to hundreds Of millions
if they would only contrive a plan, when nav day
and panic comes round. not to be SO blended and in
terwoven with other great commercial and financial
centers as to cause their weakness and oyertrading
I or,oron+ irsolz,ara,, to reac+ and ,a5io,,rl on
PetL"P9 - ~
souha ana Solvent communities we colsluef tldl
the panic of 1867 in New Orleans brought about
by the intimacy and connection with New York 1t
& r,t,,,4, t14 a. +,, en,o &c ,,,I,ii1 .,;i,,, !;
Is III 'i"V 'e s'io"s i0.ee VI Pu9iio oPi'H %
asallst an enlarged OASIS OF cHcualon 81 Drink cur
tIa l,a,,1r Nf