New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-02-03

Nsb 0rlsaus 4aiIp Grssttnt.
THURSDAY MORNING, FEBRUARY ). lssa.
glsb 0rleans Nlontv sflark.t.
CRESCENT oYy1cs, No. 70 Camp Il,
Wadneadax ExenfaG Rah 4 1ag

Nsn 0rltans Moatr IlMkd.
c1zses.1 o,gcs. q; g ca.p sss.s,l
The Money market. Well, what Of the Money mar
ket? It is becoming something Of bore" There
are not commercial securities sufficient a1oat to abb
sorb the money held for investment. There were
some negotiations today of twelve months paper on
mortgage At the rate Of "A Get Outside Of bank
there are more facilities for raising money than We
have known for years. The offerings in bank are
largely beyond the income but that is nothing the
resources Of the banks large There were several
small amounts of paper passed At the rate Of @ 8
Get, and some at 10 5ect. The course of distant
markets. regards rates, has no effect nor influence
on our market because there is no such paper made
in other markets north Of Mason and Dixons line
drafts Of cultivators Of cotton and sugar their
agents. and which kind Of paper s considered Of the
very best extant.
The weather turned out favorable for business to-
day yet the transactions in cotton limited par
ticularly in the lower qualities. Planters must not
expect their agents and factors can obtain the
prices for late pickings, which about half sand
and leaves; nevertheless, clean and good cotton will
command good prices, but then some old curmudgeon
Of planter will inquire, what are good prices?"
He would think l5c. y pound might be deemed an
equivalent when paying 81 500 for negroes. As we
have no room nor time to date on the question, we
have only to remark that any DESTROYS Of raising
money and having the requisites will have no diff
Guilty in realizing what they may want.
The Exchange market was extremely quiet to-day.
Very little offering Of Northern funds The counter
rate for checks on New York was dis, and nothing
Of note transpred outside, though small trans
actions took place at q discount for good sight
drafts. Time bills ranged at yesterdays rates. say
from II a Ii and Ii q II discount. There were
some transactions in Sterling, say clear bills at 1851
the range Of the market ruling from 1854 O. 10sa.
Dealers is buyers firm in their offers, and
have no desire to go above present figures even if the
NewYork market is advancing. In document bills we
have no change to note on, the market, however,
being against drawers, particularly when it is con-
sdered that the cotton may be fifteen to thirty days
getting out Of the river after being cleared at the
Custom-House. Francs $3.50. There were sales at
5.213 on Paris direct.
In stocks today we learn Of the sale of Bank Of
America at 1919 and we were informed Of the follow
ing sales of Gas Light Company, say 81 shares, 50
shares Al shares and II shares at from 1884 q l344
According to these Sales our Gas Company is show.
ing its heels It has large surplus and being some
thing Of monopoly its value, that Of correspond
ing companies in other Cities commands high figures
We learn there are many altered bank notes in cir
culation. The main or chief feature is the cutting
into two or more pieces bank note and then past
ing parts of higher denomination over the small
figures. Five and ten dollar notes have been altered
80 as to pass for fifty dollars Dealers and bank off
GERS must keep bright look out, as well as for tn.
bogus gold eagles and double eagles which are in cir
culation. M
We learn that the great Atlantic Insurance Com
pany Of New York, which has been considered the
Ajax Of Insurance Companies in the United States
shows assets Of over 100000 The Company pays
its scrip of ls5657 this month, and divides in scrip
for the last year 40 get Of its earned premiums. Our
Companies here in New Orleans can do better than
that, and have much larger surplus relatively.
Among the many decisions Of Judges and Courts
in several parts Of the country the following decision
in the courts of the city Of New York will serve te
remind bank officers and their notaries relative tt
their duties. There have been many cases in thi.
city about notices being left irregularities and SO on
Many Of the subordinate employees of the banks sci
dom look to the face Of note to observe where it II
payable, though party signing note, payable at
particular bank, has no right to do so-that is max
ing it payable there unless he keeps account will
such bank. Instances occur of this nature almost
every day in the year:
The following decision was rendered in the City Of
New York two weeks ago in a case where the Amer
lean Exchange Bank was defendant, and as this bank
has more or less to do with New Orleans we append
the result It will be seen the suit is against the
President of the bank but it cannot be supposed that
the intent was to make him personally liable:
JOSEPH A. EDDY vs. WILLIAM A. BooTH, PREsI.
DENT OF THE AMERICAN EXCHANGE BANK.-In the
forepart of 1856, the plaintiff left two promissory
notes of 500 each with the American Exchange
Bank, for collection, endorsing on the bank the
names of Eddy, Jameson & Co., of which firm he was
member, and which kept an account in the bank at
the time. When the notes became due, not being
paid, the bank handed them to notary public, who
protest through the mail, post paid to Chauncy R.
Jump, an endorser thereon, residing at No. SO
Avenue D. in this city, making service on Eddy
Jameson Co., personally at their place of business
No. South Moore street. "A suit was subsequently
commenced upon these notes against Jump, the en-
dorser, in the Superior Court which resulted in
judgment for the defendant-the court holding that
the service of notices of protest by mail was not
sufficient to charge the endorser. bill of costs
amounting to $l3l taxed in the suit against the
plaintiff, which he has paid He is chargeable with
fee of SIS, due to his own counsel for trying the
action The present suit is brought to recover the
amount of two notes. together with the attorney and
counsel fees referred to- the grounds that the de-
fendents guilty of negligence in not causing the
notice of protest to be properly served upon Jump,
the endorser Judgment for the plaintiff for 1895 81
subject to the opinion Of the General Term.