New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-05-13
Nsm Orleans Dailp Grestent.
FRIDAY MORNING, NAY 10, 1859.
Nem ORLEANS ynol1su Ilarkst.


CREsoEsr OFFICE, No. 70 Camp street. I
Thursday Evening" May H. 1859.
General quetness, such as has often heretofore
ruled at this season Of the year. apparent in COM
mercial and financial circles. It is not an extraord
nary posture of affairs through which we are now
passing The Niagara's mails from Europe were re-
ceiyed to-day. The private correspondence leads to
other conclusion than war. The views are, in fact
confirmed by the subsequent dates. We are some
what astounded to hear sensible men arguing that
the great European mbroglio will be Of great deri
ment to the United States American interests.
True, cotton will not advance to l5c u ID, expect
ed by some parties not well posted up in regard to
the laws of supply and demand, nor will it descend
to prices requiring only SID in the Liverpool market
to cover it.
The most gratifying feature to-day was the fine
weather, which will aid in Strengthening the levees
on the river. This is all essential and merits more
consideration than the powder and ball commotion in
Europe. As we have before remarked, let those fe
lows ght if we this side Of the Atlantic have to
bear any of the evils of the combat it will not hurt
| us much.
There was nothing in the least dscernible to-day
that any disturbance was at hand in finance. There
were negotiations of secondclass commercial securi
ties at the rate Of s9s4 Tct and rstclass to be
had at 773 get. At the same time the offerings in
bank were in excess of the receipts and most of the
| banks had as much paper offered as desirable.
The Exchange market, under lessening basis, adj
vanced to-day. Checks on New York were advanced
to yet. prem, which is rather rapid being jump
from par@s in the short space of thrty-six hours.
| There is nothing to warrant this advance and now
there is talk of prem If there is more money due
by our community than we are aware of and steady
demand for exchange is likely to prevail, with being
in prospective then our banks may prepare to guard
their vaults, all balances will be required to be
| liqudated in coin. Double AL drawers outside not
having the fears of an European war before them,
continued to sell checks on New York, commencing
at par and ending at s9ct. premium. In sixty days
sight there several transactions including some
Havana drafts on New York at 4, 5@l Get discount
These drafts generally stand very high, being based
sugar and molasses Other sixty days sight found
| buyers at l, IT, 1l@ls dis. Sterling was firm. The
banks held at 1l04@lll. Other grades ranged from
| 1095@110} Bills with documents were taken at
1921, based on tobacco. There very little done
in francs-the demand is only for remittance and
| travelling purposes. The impression exists that many
parties having funds in France will desire to transfer
them to this side of the Atlantic. The prospective
| war will be general one.
We did not learn of solitary transaction in bank
shares to-day did learn of any holder or hold
ers anxious to sell at decline from last weeks rates
The question propounds itself, what would holders Of
stocks do with their money if they sold would they
take to Europe and loan it to those notable rulers
for war purposes, would they take it to Northern
cities and buy broken railroad stocks rotten bond
of the thousand and associations which will
be worth corn shucks or chew of tobacco or inves
in bank stocks which pay from 3@4 y ct. every 81,
months? However, we have not met with an,
frightened holders to-day do we expect to fall il
with them tomorrow.