New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-06-10
Neh 0rleans 4aiIp Gresftut.
FRIDAY MORNING. JUNE 10 1sko
Nsm 0rltans Mansu Marktt.
cRxsczsr o,ncs. 70. 70 Camp ....

Thursdsy Evening june ., isss
Business moved to-day On the summer order, ire
spective Of the European intelligence. After eight
months Of general activity, it is about time for
general decline. There cannot be any large opera
lions with only stock Of cotton on hand, which in
cludes the quantity on shipboard and in warehouses
Of about 81, 900 bales against 100000 bales same
time last year. On this reduced stock Of cotton in
the face of the foreign advices, there cannot be ex
pected TO be any large transactions in the staple. To-
bacco is held too high, the would-be buyers say
and as several Of them have plenty of resources they
hold back for lower prices It is useless to be repeat
ing the thread bare remark OF dizziness and inactivity
They are applicable to the season of the year, and
there is very little difference between the present and
former seasons only that community is indebted
to the banks about eight and half millions in excess
Of last year, which ought not to be- following the
great returns of cotton and sugar for the past
Inc banks are very cautious in their movements at
this moment, scanning closely all applications, and
curtaing where they without detriment to their
patrons 1t is, however, doubtful if they can curtai
or reduce their discounts at this moment. They can
not expand with the least degree of safety. In fact
would be ndiscreet for them to do so. No one can
forete the result of the disturbances in Europe which
appear to be uppermost in the public mind. would
be supposed from the constant watching of the tee
graph wres that the very existence Of our social and
commercial relations depended on foreign countries
There is no question of thing that is the coun.
try has bought too freely of foreign merchandise and
productions, calling for large and heavy balances to
be liquidated in CON- The large crop Of cotton of
1858, at 452a per bale, with tobacco naval stores
and other truck not being sufficient to pay the in
debtedness of the nation. Without going into ex.
tended remarks on political economy we will merely
intimate that the Indebtedness of Louisiana and the
cotton-growing section Of the Southwest is larger
than it ought to be.
The advance in the rates Of interest to 91I0 act
is letting loose considerable sums of money, which
would have remained idle at 765s 49ct. There were
sales to-day OF 900 next seasons papers 900
through one party at the rate of ct mostly cotton
factors acceptances. small amount at s0s3. but
a larger amount above 8. The standard NAV now
be placed at get, with prospect for variation
Tor the present In favor of money holders They say
they can live on nine, with an occasional movement
at ten. With the banks the offerings were we'll mn
The supply of capital is still free
There was very few transactions in Exchange,
the demand is daily lessening. The counter rate at
the banks for checks on New York was premium,
with outside rates ranging from a@A get. premium
kemtters, however, must not expect giltedge sight
drafts at 8. When they desire to buy and when they
call on drawer, they ought to be posted up as re-
CARDS solvency and standing, and not run here and
there inquiring whether A. BIS draft is good. and
how does John jones' Esq. stand, and all these sort
OF inquiries. Timid buyers or remitters, or those
whose nerves are not braced had better conine their
purchases to bank checks In sixty days sight there
was no change. Rates range from to Z and l6al3
u cent. discount with very few drawers on the
market. Foreign quiet. Sterling clear loes,M1o9a
dealers buying rates; remittance rates lIOaIl04 mn
to Ill. Francs dull at 5.1sl@5.124, with bank bills
taken in small sums at 5.0s3@5.O5. Telegraph ad
vices from New York to-day quote Sterling heavy at
lo92@1osE, and francs 5ll4@5.Os}.
Bonds and stocks continue dull No one desires to
buy unless at low prices. There have been offers at
rates which will render no service to holders for Nc
to quote. There were some high prices paid TODAY
for scrip sold by auction under judicial order, the
Chief was $4,000 of Crescent Mutual Insurance Com
pany of 1857 at Sc, and $4,000 Of 1868 at 10. will
those New Workers of the New York Sun COMPANY
make note of it, and inform us the difference he
tween 81 the price Of their 81 scrip and So? It is
hoped they have not suffered by the great fire in
Columbus.
Occasionally it is of some importance to know
where and how the General Government keeps its
money The following were the amounts on hand at
the several repositories at the close of the month of
May (ast monthly At the