New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-10-19
Netu Orltans 4alp Grestent.
WEDNESDAY MORNING, ocTOBER ia. Isia,
Nem @rltans xflontu Hlarktt.
cREscEs! orrcr, No. 70 Camp street,

% Il Carnps frcef ;
Tuesday Evening, Oci. Is, 1859
There was a greater demand for money to-day.
Most of the banks had much offered for discount
as desirable. In the way of Exchange the offerings
were not up to the expectations, arising from the
large sales of cotton. In general business there
was very little doing worthy Of more than pass
ing remark. Our dealers, jobbers and traders in
every branch of business have not yet received all
their expected supplies; they are, however, max
ing very good show, but not corresponding with
the tremendous exhibits our cotton factors en-
abled to advance from day to day on the large
Quantities Of cotton arriving almost hourly to their
several addresses. The weather for the past few
days has been of a showery nature-its effects on
cotton remain to be heard Of 1t may have been of
advantage to many fields of cotton on the uplands,
provided it is not followed by hard frost. Of
course the beneficial effects to the sugar planters
can hardly be appreciated. With the present mild
weather for twenty or twenty-five days, with a mo-
derate proportion of sunshine from day to day, the
OPINION prevails we shall come out remarkably well
at the close of the season.
The prominent feature of finance to-day was the
Exchange market-its position appeared to be
averse to buyers and remitters. The counter rate
for checks on Network was uniform and steady at
ton, that is, to the extent of $50 900 at prem.
The calls, or demand at the counter, were as much
as the banks could readily draw for, even at a 1
premium. Outside there were sales at par for fair
commercial bills with double Al being taken
freely at an It'll prem, so that the range Of sight
was from par to PREM There were sales of ten
and fifteen days sight at dis, and several large
sums of choice to good sixty days sight were alb
in the MI IF fha
into yesterday at ll@ls and u dis, to the extent
of quarter of million of dollars, with other
movements at l4913 dis. Sterling, instead of re.
trogradng, as expected, took an upward turn
though dealers refused to pay very little more thar
they paid yesterday, and did not meet the higl
views of drawers. We note sales of several parces
of clear bills on the very best drawees in Londor
at l0ss, which may be deemed the highest figures
paid by dealers, though there were sales for remit
lance at fraction over. say at 1909. In document
bills we did not learn of any transactions as being
| confirmed The operations of last week have not
all been brought to close as yet. We have, there.
| fore, to quote
Bank Drafts at sixty ilSI
Document Bills from tss
| Francs were rather quiet to-day. We have nc
change to quote in rates, say from 5.23f for docu
ments on Havre to $40, and from 5.17a@5l6i OF
Paris direct Take the market all round the trans
actions yesterday and to-day foot up eight hundred
thousand dollars.
The following were the current rates of exchange
on the 18th of October last year:
| Bank Checks New York over the COUNTER. u dis
C G sE. pfai"' u dis
F FSs1'ssn' Bins SIS
On the 10th of October last year Middling cotto1
was ll4@1lz, about lie. y Ii higher than to-day
There is an increased inquiry or demand for til,
stocks of the free banks. As the demand in
creases holders enhance their rates, driving would
be investors off of the track. We note sales TO-DAY
of As shares Union Bank at l02 As shares Crescen
City Bank at the same, and 20 shares of Mechanics
and Traders on PIT, which we learn was an ad
vance over last sales Twenty-Five shares Loui
sana State Insurance stock were sold at 244 fol
$40 paid.
There appears to be great press for money il
the West which does not augur well for the future
with the present prospective low prices of Western
productions. The Cincinnati Times of the 1871
says:
The demand for money continues very active an,
is more so to-day than it has been on any day TO
the past week. Currency. is scarce with all tn
bankers, and general ndisposition to loan or blu,
paper is manifested in the banking.
The rates OF first class names is still l0Ml2 get.
but usually none but customers of the discoun
houses are able to obtain money at those figures
The monetary market appears also increasing il
stringency.
Eastern Exchange remains firm at 3@55c. buy
ing and premium selling rate but the scarcity o.
| currency interferes with transactions: no one de
string to buy until he has an actual demand.
In uncurrent money, gold, New Orleans Elk
change and time bills there is no alteration.
Business in Third street is quite brisk to-day
parties operating now who who were out of thu
market during the election excitement.
The last New York Bank Statement, say for the
week ending on the sth, shows $40 900 less il
coin than at the time last year, as appears by
the following figures:
| Oct. Q, 1883. Oct. s, $50
Capital.
/ Iauns SD