New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-11-04
Neh Orleans DULY Crescent.
FRIDAY MORNING, NOVEMBER A, 1859.
Nen ORLEANS Hloatv Hlarkst.
CREscEsr OFFICE, No. /


Vem 0rIsans 1tonsg HlarAst.
4 oTsss E Ss r. e: Sa, ':Iei e
The Money market to-day had an apatIietic feel
ing. There was very little paper offering through |
brokers. The offerings in bank for discount were |
only moderate. The weather and its changes are !
watched with more anxiety than the buying and !
seiifng OF paper, stocks, and so on. Though yes
terday morning was the coolest Of the season-the
thermometer having fallen in the outskirts of the |
CITY 10 do-yet 1t was only momentary. It must be |
taken into consideration that very dry weather at
tends the low range Of the thermometer If rain !
and ice had followed the change, we might prepare
to receive many gloomy accounts from the cotton,
and sugar regions. good, poor, or an indifFer-
ent yield, King Cotton has more or less influence
on the disbursers of favors, money or the deal
ers in planters and merchants securities.
On the street to-day there were some negotia-
tons of paper, maturing next April and May, at
the rate Of get, but the amount of commercial
paper in the hands of brokers is very small.
There is considerable apathy in the general trade
of the city. Jobbers, wholesale dealers, and even
retail traders, though doing something, the amount
does not reach last year at this season. True,
there very few planters, cultyators of the soil
in general appearing on the streets. This is readily
accounted for, because it is the most perplexing
part Of the year for the devotees of the SOIL and
they required to be at home until the crops are
gathered The dullness in trade is, therefore,
readily accounted for. An improvement in the
local and retail trade is manifest, and with other
transactions there is large increase of money
brought into circulation.
The Northern money market continues under
good supply, but the constant outgoings or export
of specie bode no good to the country. There is a
great deal Of comment regarding the yield of the
California mines, but it appears that this yield is
merely dug up for the advantage of the good old
woman on Threadneedle street, London. In fact,
the Bank Of England is the recipient Of all the gold
the yield and returns Of the California Mines which
is manifest by the banks of the city Of New York
only having in vault something over $4,000 900
which amount is SO 600 less than at the
ponding time last year. As Mr.. Bull has large
bill of dry goods, hardware, iron and haberdasher,
in general against us, it may be well to conside
how much gold besides good crop of cottol
will be required to liqudate the balances. Quie
saJe2
The Exchange market to-day was well supplied
The counter rate for checks on New York wa
steady at par. At the same time there were sale
reported at less figure, but not supported by re
suits We have to quote choice to good sight draft
on New York at from an sth01i and sic dis. Fiv
and ten days sight tot dis; thirty days sight 10
get. dis; sixty sight IL, II, ls@2 get dis, with
good supply offering. We can only quote as tn
closing rates for choice and good on New York a
from an tth@4 dis In Sterling there were trans
actions in document bills at los Sl0s3 and exceI
tonal bills at higher rate, and disexcepton rate
at from 107a. l073@l0s. There were large offel
ings of clear bills, which resulted in greater exat
tons at 100, 1094G1O9s. 1t is hardly necessary t
call loss quotation for buyers. Remittance rate
are higher. In Francs the market presented du
symptoms. They may advance and then they ma
decline. We have to quote them 5.23l@5.20 fo
fair bills, and 5l73@5.13l for selected Names TIL
! market for all grades and all kinds of exchang
was very heavy to-day.
In Stocks we only heard of the sale of 43 share
g Bank of New Orleans at 1929. There were sever
I offers for other bank shares. Owners of stool
cannot, however, be blamed for holding at Il
prices which are now exacted, for if party sci
/ stock they cannot be replaced by investment
j. paper or other good securities
1t is well at times to compare the position of Il
:. banks of other States with our own. We, ther
}, FORE give the following statement of the bank
5. Virginia for October lS5s-'59, made to the q
thorities of the State. We do not know und
s what head the item of outstanding debt can
classed but it is presumed to be bills receiyab
under discount, that is, general notes Of hand al
y domestic exchange. There appears, however,
very singular item, which ought to have bee
charged up to profit and loss long ago. that is, Il
k robbery of the branch of the bank of Portsmout
which appears to be carried along as one of Il
: assets from year to year. This may be deemt
Z something strange, or we may say ludicrous,
n consider robberes and stealings as among the a
sets of bank. But the general position of tn
bank is weak if we judge it by the banking law
Louisiana. For instance, there is reported in CO
n on the LIST of October 1859, s47414 The circul
Y Y ton and deposits, with amount due other bank
foot up 81 ,s93,75 and should, according to Il
system and laws of our State, be represented
n 1864 $3.50 in specie. Take the condition Of Il
'' banks in Virginia all round, with another, thu
would be placed in critical position in the eve
: of hard run.
!. The following was the condition Of the bank
Virginia, as reported to the Governor of the Sta
on the LIST of October: