New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-02-26

souhen s3
In uncurrent bank notes there have been larger
offerings during the week. Of some kinds triple and
quadruple of any week of the season. Considerable
sums Of the issues of the banks of South Carolina and
Georgia formed share of the increase. From the
manner in which many distant bank notes are offer
ed forces us to the conclusion that stpulatons are
entered into between parties those who directly re-
ceive the notes. that they shall be circulated away
from home-that is, distant from the place of ISSUE
For instance it is not many years since North Misss-
sippi was considered good place to put Carolina
and Georgia money in circulation 1t often is at
tempted at the present time. The notes are, how
ever sent to this market, sold to brokers, who
forward them to the place of redemption, demand
New York funds, and very often entire packages,
fresh as when issued are presented at the counter
without being opened.
We observe that the great Metropolitan Bank of
New York has started paper on its account, demo-
minated a Bank Note Reporter, which is edited in
part by one of the telles of the bank though it is
declared in the prospectus that the bank has no in
terest in the enterprise That, however, is neither
here nor there it certainly looks very queer for
bank teller to be copartner in Bank Note Reporter
This Bank Note Reporter processes to be very accu
rate in its quotations. There does not appear to be
much accuracy in its statements when it says, under
the head Of closed banks in Louisiana which means
New Orleans ' That the State Bank Louisiana, is
closed that the Planters Bank, New Orleans, is
broken; that the Western Bank, Rome, is closed /;
that the Exchange and Commercial Bank of New
Orleans is closed that the Exchange, New Orleans,
is closed"
For the information Of the great Metropolitan
p,,I- IFS array stOckhOld.
ers directors president CASHIER tellers and editor,
we have to state to them there were no such banks
in Louisiana as the Exchange Bank of New Orleans.
There was the St. Charles Hotel and Exchange Bank
ing Company but it is doubtful if there were any of
its notes in circulation as it quidated Is years
ago. As for the Exchange and Commercial Bank Of
| New Orleans there is no record of any such corpora
ton AS for the thing called Planters Bank, there
was bank of that name, which failed in the year
1920 almost but not quite, 40 years ago. There
| the old Merchants Bank, which closed in 1872, II
wears ago, which is entered as closed As for the
State Bank, we suggest that the banking and ex
change firm at No. 81 Camp street. the resident part
ner of the firm who is director in the bank, should
address Mr. Robert Sewel one of the editors of the
paper and who is at the head of the firm of Sewell
Ferris L. Co., exchange dealers, Wall street, and fol
which firm Camp street friend acts occasionally
as agent. We suggest that he address those editors
and relieve them of any doubts regarding the Stat'
Bank of Louisiana The great Metropolitan Bank o
New York appears, however, to encourage the as
sumption of the paper in queston-that is, it en-
dorses the prospectus, and as one OF its prominen
officers or telels heads the paper we hold this grea
mammoth dry-goods bank responsible We hav
observed, from time to time that many OF thes
Bank Reporters have kept list of supposed defunc
banks, but we have not met with any until the pre-
sent publication, which quoted our State Bank a
being closed. We also have to inform all editors ia
and near that we have bank in this city called til
Merchants Bank, which went into effect on the frs
of this month !; that its notes are just as good a
gold, and we suggest that hereafter they will nc
confound it in their tables with the old defunct Me
chants, of II years ago, which, by-the-bye, neve
. suspended specie payments during the memorabl
crisis of 1887 to 1910, and went into liquidation
1912, If there are any of its notes in existence,
should like to look at them as we have yet to lear
= that any of its billholders lost by it.
There have been very few receipts of specie til
week, Mexican dollars are in request at los. Anne
lean silver of the new coinage, moves along quiet
The s,ppy is free and likely to continue so, thong
there will he none coined at the Mint for some tim
to come. There has been slight variation IN Spal
;. ish doubloons
: Land warrants have declined. The deliberat
ouibblinr away of the public lands by Congress a
tracts the attention of settlers who have no desire
buy warrants at prices which will give them HON
4. stead for a mere nominal sum- This giving away Il
+ nublic domain is kind of buncombe movement. q
will make poor settler and a miserable farmer WI
cannot by his labor accumulate forty dollars to inve
/ in land warrant OR one hundred dollars for eight
/ acres of good land.
Of We annex our usual weekly quotations of coin al
+ uncurrent money, being the rates OF John Wood &C
,s ncr Camp and Common streets :
amsrean half Dollars old coinage ...1@l cent premiu
american quarter Dollars, old coinassge ssg d,scou
American Silver new coinage .sa@gl dlsceu
l, Mesican Dollars. e cent. preniu
"a Spanish Pillar Dollars se9o p ceu
Five Franc 'S a
sovereigns.
y California Coins
Franc Pieces. 9,eSa
Ten tiuider Pieces.
Thaler Pieces.
II Mexican 1louboons ue,.
Spanish Douhoons Si9 p.os ~