New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1858-02-09
Dem Orleans gflontu 5flarEtt.
cRrscKsr oFT1cE, No. 70 Camp str.

- CRESCENT OFFICE. No 10 Camp street..
Monday Evening, Feb. 8, 1879
The Liverpool by Arabia received at
early hour this morning They took parties by surprise
completely upset the views Of the Bears. An advance Of
% Of the things least expected yet II there had not
any advance and the market reported holding the
rates should have remark that the general mar
kets opened satisfactorily
The weather particularly favorable for business and with
large receipts produce abundance Of money and the
favorable complexion Of the foreign aces, We look for good
business unless sellers Of cotton should advance their
figures. addne cotton at 0 cents exchange 1906 freight
Is s2d bring Liverpool 20 cover So The quotations
at hand to-day fI6d On inquiry, find that the ad
vance something Of partial suspension in large
inns id exchange as the reply to-day influential
Regarding sterling bills that cotton getting too
h consequently the general exchange market day has
been in allegiance. Some small for remittance taken
at Os this Is quotation. The chief transactions
si0s1S bnt buyers were offering At l09
1917 Bills with shipping documents lO6@lO61s bank drafts
quotations. Francs sold At 5.30G52. Quotations
ranging s5e95 22z We learn that sterling has
been sold in New clear bills This does give
much profit considered this identical exchange cost
the figure here week before last Domestic funds to-day
sections quoted Arm but did not meet with any
proof Of IT. sales made OF sight drafts on New York at
q x u per discount The banks selling checks
par round might have been obtained at lower
rate The range Of outside drafts may be placed from %
discount Thirty days sight Ilk discount sixty days sight
from and 4D2f per cent discount Though some first
class holding at ID discount did not learn of
There several negotiations Of One party placed
$40 600 Of good having IL and ls months at
II per $4,000 placed BY another at IL cent and
few small operations at higher rate. The market is freely
supplled broad Discrimination is evinced the Of
buyers We look for the drus existing be dispeed
many weeks and decline In follow accordingly.
There some Canal Bank Stock sold to-day
figure Of ilS In bonds there talk
going on. the sale New York Monday last Of
81 900 City Consolidated Bonds a. o. TO- and $4,000 ai79
The election for Directors Of the Louisiana State Bank
held to-day, which resulted in the following gentlemen
being returned
Messrs NJ Lepeyre President W. NJ. Perkins cotton fac
Henry Renshaw tobacco dealer Ant Carrere, general
merchant j. Shaw, exchange dealer H. Peale, fac
Tor Alex Brother President Home Insurance Co. Daniel r.
CerroI Carroll Pritchard Co., cotton factors John j.
Adams grocer.
We have from time to time alluded 20 the soundness Of what
termed sterling exchange with bills Of Iading attached
have generally expressed IA favor Of them We
frequently wondered why dealers In exchange have
gardsd such exchange object Of moments consdera
ton aDdfrequeny causing III be thrown the market
begging for buyers OF course those has funds to remit
caes for remittance be expected take
The question Of produce bills has not
view. been fully understood Al the time many operators
desire to retain full control Of their purchases and
shipments as in many differences questions arise
place Of residence Of dawee which leads very often 10
trouble what intended convey the general safety
10 exchange based actual purchases Of produce
which the following notice columns Of the
London Economist from Of its sble correspondents.
sin Il appears prices curret which
regularly published in this eoantry the arrival the
weekly fu America that they sill quote
bankers bills q exchange in the New York money market
premium exchange between New York and
for above those
inmate prodnee or commercial bills. Now. white dent
profess 70 know great deal about such Matters yet from
the ile and what henT passing should
infer your manufacturers and oere entitled remittances
from the United States had had quite enough Of the bankers
bills Of laiesueh for instance. BY of illustration
Brown, Smith, and Jones IN favor endorsed
by sope, Expectation and Company Jones, Smith
Brown, which take to be similay n character those
nominated in New FORK bankers bills.n
understood there existence This realm and IN full
force time law by the title Merehans
Factors Act whereby bill of exchange drawn against
merchandise drawn against security for ts
IL correctly Informed this head produce b would
security their perfect
Il is possible for bill Of exeeange 70 be invested with and
being ignored IN the exchange market Of York or
elsewhere, Of the msealled bankers bills (which
b. correctly designated should DO written bill rawer b
should be reversed and "produce commercially
biste legitimate Of all bills Of exehange-assume that
position Of priority public which they most as
suredly entitled Had the preference been given them
months by those having money country
displacement Of the bankers kites have been
Coating aboHt in their stead, British
portfolio would believe have presented pleasing
development the exploration oil Its interior than possibly
does At present.
The weekly statement Of the banks Of the city
York for the week ending the 3Oh ult show the following
variation compared with the week previous:
Increase loans and discounts 007 al
Increase in specie 443e72
Increase In ercuaton s3,636
Increase 10 deposits. actual. 9il 1928
The following exhibits tho Items since the
the present year