New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-05-25
Nem Orleans Bulb Crestent,
WEDNESDAY MORNING, MAY Is, 1859.
gtm 0rltaus Montu Nlarktt.
CREscEsr OFFICE, No. 10 Camp stree

Ineeday Evening" May "a, 1889 |
The money and paper market moved along very
quietly to-day. The street negotiations of paper
were s27 900 of first class commercial twelve months
at get through one party, $50 900 through another
at the same rate, with divers small transactions at
from s@saTct. for choice and good names and good
to fair from $500 and 10 get, which is much less
than at the time last year. At this time last
year the same character Of paper which now taken
at 8t983 get, could not be negotiated lower than
0lO get The calls, or the offerings at the banks
were large to-day, that is, in of the income
All the banks are in situation to respond to all leg
innate tenders for discount but often, and very
oten under the present inclination for investments
for rise in certain articles Of merchandise and pro-
duce, a large amount of accommodation paper ap- |
pears in one way or another, on the outside Market
as well as in bank. |
There is no restriction on the money market be- |
yond the causes which regularly, every summer, at
tend the course of business. winding and closing
up OF the seasons operations at this PERIOD are the
characteristics Of the great trade of our emporium
At the same time this winding and closing up does
not prevail to any greater extent than heretofore
fact all our merchants not going to travel there
will be strong and able representation Of the great
and varied interests remain the through. At
the same time, the exodus of citizens generally is
larger than last year. which is accounted for by the
extended facilities of travel the ocomotion by steam
putting ms in communication with all sections of the
confederacy semidaly. So many are DESTROYS of de-
parting that it gives decided tone to the general
money market, which results in larger offerings at
the banks for discount having increased with some
of them to than DOUBLE and in recent instances
to than triple the amount of income, particu-
larly with two banks. Nevertheless, the banks were
in SO good condition that the managers yielded to
the solicitations but, in instances, were COM
PEELED to decline some paper based on the theory of
buying to-day and selling tomorrow.
The grand fulcrum of our commerce exchange
gave decided symptoms Saturday last of breaking
down from the high rates then ruling Yesterday
there decline, to-day there was another. There
were sales, however, of checks on New York over
the counter at get, in large sums, and in small
amounts these figures did not last long as double
signatures were offered freely in the middle of the
day at get. prem; checks over the counter at the
same, with one days sight selling at prem. We
have also to quote the closing rate of sight at a@a
prem; sixty days sight choice at FOL act dis,
good 1@ls, fair 1l@1S and II though, at the same
time, bills at the latter figure will be paid as promptly
the very best of gilt edges. In Sterling there was
marked decline, clear bills were taken at l1Og@
ll0{ and 1l0a we quote extreme rates from HOG
1l02. Bills with shipping documents were taken at
1889 we quote from 1Osa@l095. Francs inactive
we quote actual sales at sos for sight, 606l 5I5M
5.0ei for the general of other signatures. The
Union Bank is drawing on Paris direct RENTERS can
provide themselves at low rates. and travellers obtain
all they want. There are one or two other banks
drawing sight and short sight at the market rates.
In Continental Exchange there is very little doing
Bremen bills are held at 799794 U rix dollar, and
Hamburg at 362@37 u marc banco. There is very
little demand on these Places and the quotations
must be regarded as almost nominal.
There were no sales of stocks to-day other than
few shares Of Union Bank at lO3-owners are now
asking the fullest prices-wth few shares of Bank
Of America being sold at 1909 There was also sale
of $4,000 first mortgage bonds of the Opeousas Rail
road CONSTRUCTION bonds) at s3a.
Whether the war reports have affected the gunny
bag movement, whether the prospects of an I'M
mense yield in the grain crops operate on the market
or whether gunny bags may be used for wadding in
the European war after having performed the service
of conductors OF from causes not yet defined there
has been great excitement in the % bag market,
while gunny cloth has been inactive The imports of
bags this year show slight increase over last year
say about II yet. The imports of gunny cloth from
the 1st January last to the 14th inst. show an in
in the quantity of bales of over l27 f9ct By
the following extract from the Boston Shipping List
it will will be seen what advantages are obtained in
Northern markets in the way of credits. In Boston
six months credit is allowed which is in some re-
spects real profit and advantage for dealers to start
on. The same merchandise on arrival in New Or |
leans would be clogged if sold even sixty days and
four months credit with interest and perhaps an eS
ira price. Suppose we put the question, how pro-
posal to purchase lot of gunny bags four or six
months credit would be received in ourmarket? We
recommend all who are engaged in the gunny bag or
cloth business, to examine closely the sales quoted in
the extracts
GUNSY BAGs.-There has been considerable excite
ment in gunny bags, and prices have materially ad
vanced. Sales of 269 bales, 372 fbs average, on pr
yate terms 800 bales, 400 lbs. average, at llc less
f3ct. for cash; 200 bales, 400 lbs. average at c
less get 800 bales, 4l0 lbs. average, at &C. 200
bales, 400 lbs. average, at l3c 500 bales 3S56l400
lbs. average, at He; 100 bales $40 lbs average at
IL &c. 2G0 bales 360@370 lbs. average at 1lIc; 100
bales, in bond, private terms 800 bales, 400 bs
average, at 12c; and so bales, 400 lbs. average at
l2ac. mos. At the close there is firm feeling
The stock Of heavy bags is quite reduced and a
further advance is looked for the views of some hold
Imports from January to May IA
Bales ss?a s as
Bundles. l,23l
GUNNY CLOTH.-There has been no movement of
any consequence in this article. Sales of 200 bales
standasd, at l2c., mos but this price holders are
not now willing to accept
Imports from JANUARY to May IA:
b'les' '::..:.::.: .:::.;:::...25.l. nols