New Orleans daily crescent., 1859-11-09
Ns6 0rleans Dailu Gresttnt.
wEDsEkDAY MORNING, NOVEMBER ., 1859.
gtm 0rltans Ylontu nlarkst.

Hs'essf roasy rsssIss E,saiss T. sS a%S Ss, s,Iss
The general Money market u.s drI, - -, a.
Some dealers and operators in the dross think ta.
might as well have remained at tb.;-
sorts until Christmas yet the offernos in h.nk fnr
discount were large, fully up to the income. and in
some instances in excess. There Is no accumula.
ton OF money going on just at this moment. and II
the remarks Of some would-be operators are " he
credited, it might appear that all the money in New
Orleans was owned elsewhere. But as such does
not happen to be the case, we have market Of our
own uninfuenced by outside or distant occurrences
If the result of the crops are to be taken as the
basis Of support of our market, we shall have
very strong market, though the Bears begin to as
sert that troubles and disturbances in Europe are
likely to arise, and annihilate all prospects for
favorable returns of shipments. We, however, do
not give credence by long ways to the many ire
sponsible dispatches received over the wires Mr.
Napoleon the third has it in his power to convulse
Europe in one hour. But let him move if he intends
to at once, and relieve the commercial and fnan-
cial world Of the tenters which are gradually as
suming something of a form.
There was very little paper in the hands of brok-
ers to-day, yet that little was more than last week
There were some sales of March and April paper at
the rate of s@s3 yet. for good factors accept
ances, and some tonsorial transactions at the same
rates.
In Stocks we did not learn of any movements,
though there was some talked of. We learn Of the
sales of 100 shares jackson Railroad stock at III
and lis shares at liz. The complaints regarding
| the management of this road still continue. It is
due to the public, the patrons, customers and sup.
porters of this road from the managers and direct
ors thereof, that some explanation should be made
that II may be known where the fault lies. There
was falling of in the quantity of cotton received
last month from the corresponding month of last
year. In fact, the low stage of water in the Yazoo
river prevents many thousand bales of cotton from
being forwarded by the river route. We should be
| glad to have some refutation of the many COM
| plants made.
The Bank Share market was quiet to-day, The
opinion prevails that some stocks have attained
their maximum. But if folks feel disposed to pay
S0@s50 % share more than the books show that
such stocks are worth, it is none of our business.
The Exchange market was heavy to-day. Rates
are tending down, particularly for Northern funds
The general counter rate for checks on New York
was get. discount, ranging up to in some cases.
Double AL sight drafts yet. dis. with large sales
going on. One to three days sight dis. sixty
days sight good bills 2@lI dis. good to fair 1E@
24 dis; choice names 1a@ls dis. In foreign seve.
raj negotiations were brought to close at 1Os3@
109and 1O9s for clear Sterling, and l0s@l0sl and
1881 for bills of lading, with some favorite names
being taken at 10s3. Buyers and dealers inquire
particularly regarding the quality of the cotton
forming the basis of the bills. In Francs there
were some transactions at 5.20-rates ranging from
5.25@5.l73.
The money market of Memphis appears to be ap-
| preaching fever heat. We have been informed
that there has been something Of combination
among brokers and dealers in that city in regard
the bank issues of New Orleans, that is, buy then
up, provided they have anything to buy them with
and return them for redemption. Now, this il
really something funny it makes us laugh to thinl
that the Memphis brokers can injure the banks O
New Orleans. But the banks of Memphis appea
to be in a snarl. Whether there is any " Snarleyow
or Dog Fiend," among them we cannot say. Will,
all this war or fight is going on, the mercantile com
munity of that city is pressed for daily accommo
dations.
While this war is going on in Memphis it will bt
the cause of sending all notes of the Memphis
Tenn, banks home for redemption. The commu
nifty of Memphis can always rely on sound, safe
and convertible currency by establishing the issuei
of the banks of the city of New Orleans as a stand
ard and basis. They can be called gold and silver
at all times. The following remarks are from the
Memphis Avalanche of the Sd inst:
The war among the banks is likely to interfere
seriously with the business of our city, and unless
| speedily ended will embarrass the operations Of
many Of our leading business houses to an extent
that must affect seriously the ordinary transactions
OF late it is alleged by the banks that large prof
portion of the checks presented at their counters
have to be met with coin in almost every instance
where the money is to go into the interior the gold
1 is required and this is alleged one of the rea-
| sons why the banks are refusing their accustomed
accommodations to many of our principal houses.
The brokers and shavers are consequently alarmed
at this state of things, and they are refusing to buy
| dollars worth of paper. We have no sympathy
with the banks, and believe it would really be to
the advantage, as we have often heretofore stated
if in their present fight they should, like the Kill
| kenney cats, devour each other.
There was no such thing as negotiating any papel
at all the Streets although rstclass was freely
showing at ALL and until things become more quiet
or the war ended, we may expect to see squally
| times.
| EXCHANGE
We continue to quote Eastern at premium, ant
New Orleans at the same rate. The following are
the latest quotations of sight Exchange on New
York at the principal cities:
ssss9%i Ss~
Charleston parS q prem
We observe vast amount of South Carolina
money now circulating here. These banks, nc
doubt, have arrangements here through the brok
ers, to give currency and circulation to their
money. In most of the South, as well North Caro-
| lima banks are solvent, responsible and reliable,
and we think our citizens need not have any fears
. | in tax tha n w