New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-12-20
Nth 0rleans 1ailp Crescent.
TUESDAY MORNING, DECEMBER 20, 1859.
Ntm ORLEANS Hlontu Mtarket.
cnE.crsr orrlcr. No. 70 Camp street.

Monday Evening, Dec. 49, 1859.
The week commences under many disadvan-
tages for large operations, particularly in the great
motive power, cotton. The elements, however,
consplred, as 1t were, against large operations
ana with the resolutions and determinations of
buyers Oh cotton to insist changes in the manner
OF selling, weighing and chasing cotton, which
were 10 go INTO effect to-day, there has been a
very Tneager business done. Rain fell at intervals
during the day, with dark and cloudy weather.
which seemed to interfere with large operations.
As regards the general money market, we have
only to note that the calls the banks were
heavy: and as there have been no real receipts Of
coin, the general ability of the banks to discount
everything offered is problematicaI, at least for
this week. There were received yesterday by ex-
press over the Jackson Railroad, from New York,
100000, consigned to an eminent exchange opera
tor, which went into the vaults Of one Of the down
town banks but being only the sequel of large
coin operations, it will add nothing to the specie
reserves. We learn that this coin left New York
on the 18th inst, and was received yesterday, at
cost of get, which is an 18th less than if it had
been shipped by the sea route, the charges by the
regular steamers from New York outside amount
ing to get. So the express companies can work
for less compensation over the railroads than by
the sea route, which has, via steamships, held
premacy. If the express companies, via the inland
route, can at all times pay demands at sight for
losses it is manifest that the reduction of cost in
the bringing of coin hither will have very impor-
tant bearing the transmission of coin. If respon-
sble and prompt paying parties Tin of loss)
can deliver gold here at cost of 3G1s get, it
would at such particular epochs as the present.
have very important and beneficial bearing on
exchange dealings in general.
| The exchange market opened with some degree
of dullness this morning. The counter rate for
checks on New York ruled at get. dis, with
round sums to be had at dis. The rates of double
AL, outside, also ruled at / but good sight was to
| be had at 1, and fair names at dis The banks
were buying small sums OF good names at I dis.
We, however, note transactions of good and fair
sight at from to dis. five days sight of Al at
| dis; thirty days sight l4@l1. sixty days sight
at 2. q, 23@2a dis. There were several transac
tons of sixty days sight of satisfactory bills at Ia
. dis. These figures will bring coin hither, but
| coin movements are governed by the rates of sight
| exchange The movements in Sterling were few
and far between. The highest rates we heard OF
were l0St@l0S{, with some good document drafts
at 1913 to 1919. There were negotiations of good
spinner g drawees'; at 1O7!@1o74. The market
all round was, however, depressed by various
causes. As regards bill of lading drafts, there is
much confusion and great delay, several presses
in regard to the delivery of cotton go so far as tc
procrastinate its delivery, much to the delay ant
inconvenience of ship masters. and causing grea
obstacles to shippers, who desire shipping docu
+ ba r1pr fnr If
cotton is presented at the presses. The delay il
obtaining bills of lading greatly retards move
ments in exchange. There is a remedy for thi
procrastination but it is useless to allude to it
There were important transactions in Franc
to-day. We continue quotations at from 5.2s
to 5.22l to 5.2l4. There were no movements il
stocks nor in bonds.
The last weekly statement of the New York cit,