New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-06-07

Aem Orleans Dailp Crestent.
TUESDAY MORNING. JUNE :. 1879.
Nem 0rItans Nlonty Hlarkst.
CRESCENT OFFICE, No. 10 Camp street,

CRESCENT OFFICE, No. 10 Camp street, !
Monday Evening, June 6, 1859. )
The week opens quietly in financial circles. The
usual applications for discounts of the fea
lures observable-they were not large. There were
several negotiations, such as taking paper from
parties who desire to have funds in New York, and
legitimate business, but is liable to be abused, hay
ing been tempered with heretofore. There are many
merchants and traders DESTROYS Of anticipating their
bills receivable at this season Of the year. to enable
them to go North or to Europe, to replensh stocks
well as for pleasure and to be relieved of the dor
NANCY and stagnation for the coming four months.
Let illustrate if Mr. Jones can obtain bank checks
or other negotiable exchange Network, Boston Or
Philadelphia, for the contents or part of his porte
feuille, which have been received in the course Of
trade. 1t is very good operation. These transac-
tons are all very well in the way Of business and
facilitate operations and the season of the year is
at hand when many dry goods and other traders are
/ making arrangements to go North to replenish
stocks it is not going too far for to remark that
theaexchange of paper, either long or short date,
with our banks reyerts to the general good of our
trade; nevertheless, the banks at this moment have
extend their business of this nature.
There were some transactions in paper of long
datethat is paper payable out Of the growing crops
at 81 get for choice, and from sa@9 and 81 get for
other grades. The banks had only ordinary calls,
and the tight time for buyers will not be realized this
| summer.
The most important feature of the present is the de-
cline in the waters of the Mississippi and tributaries
i 4 of {bo lott
be used in way another, if not for cotton
they can for corn, and corn at dollar per bushe
will pay well as cotton at dime y b, though tc
be sure, the raising Of cotton is deemed by many
more dgnifed business, in which opinion we do moi
coincide.
The Exchange market moved along very well to
day. The counter rate for checks on New York was
PREM, though there were transactions at I in the
way of trade. Double AL sight drafts ruled at and
GIG prem; Sixty days sight I, and 1@14 dis
There were several sales at dis, and we have te
quote extreme rates for good signatures from dis.
(askng price, to II dis In foreign there were sales
purchases of Sterling clear bills at 1899 and docu
ment bills at l09@109a. In Francs there were somt
Transactions with the market tending in favor of buy
ers or remitters. The sales on Paris direct were al
5.l8a@5l13, and good bills on Havre, payable il
Paris, at the same rate bank rates were lower. Thu
Empire holds its own as yet, and it is presumed tn
bankers and drawers will do the same
There were no sales of stocks to-day. There ar
sellers, but asking high figures there were no sales
Our advices from New York to-day, quote tina
market as follows:
The market is in very peculiar state there is NJ
lack of capital the supply being abundant, but thi
is offered only such conditions, and for such secu
rites, to render it inaccessible to many who hav
heretofore found difficulty in satisfying all the
wants. The banks have been enabled to raise thei
rates of interest and there is very little paper dis
counted below yet. We quote: