New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-11-19

Us6 0rltans laiIp Gresttnt.
SssSsssssasssssesss.
SATURDAY MORNING, NOVEMBER 49, ls,s.
Neu 0rltans Nlontu Ylarket.

car'ers1 psgsE g No. 70 Camp
Nothing of an important character transpired to.
day in moneyed circles. The calls on the banks
grant accede to all applications based on Iegiti-
mate purposes. We note the sales of s25, 900 long
dated paper by one party at the rate of get, and
other sales amounting to 100000 by divers parties
at the same figure, and further sales at s209 get.
Also, $4,000 of short date at the rate of get.
The market, however, takes broad range,
rather the whins and caprices of buyers dealers
in paper vary and vibrate from time to time. There
is no change in the rates of second and third class
securities, which have ranged this week at from 10
to l2f1l5 J9ct. U annum. There are many dealers
and buyers of paper who do not look at first class
or Al securities at s get. dis, but would purchase
and take all second and good class at 12@l5 Get.
to almost any amount, particularly mortgage secu-
rites The fact is simply this, dealers in paper for
the last twenty-five years have lost more money by
connning their transactions to what is called first
class, or strong paper, in the bank parlors than
they have by the medium and second class stand
ard. In the meantime the supply of money in
bank and outside, is ample to meet all the legiti.
mate purposes of business nevertheless, it is not
out Of place to remark that the course of exchange
rules against us, and though cotton is king there
is no indication that there is any gold, any of
the real balance Of trade, being RENTED hither to
strengthen our position; which, by the bye, ia
strong as yet, and by prudence, sagacity and dis
Greatness, will be 80 continued. a-
The Exchange market, which we left yesterday
very quiet opened this morning in favor of buyers
and RENTERS There was no great decline SUBJ
%oo -
counter rate for checks on New York ruled steady
and firm at dis, though two banks asked and sold
at a |. Double AL sight drafts outside, were taken
at 6 dis, and one party sold at TIC dis. Other
good sight drafts were sold at get. dis; SO we
have to quote from s@S dis for checks and sight
drafts s@i dis. for five and ten days sight, 1t@1{
for thirty days sight. In sixty days sight there
were several round negotiations, say $4,000 at
ZIG dis, SIS 900 at dis, and s35 900, in three
parcels, of favorite signatures at IL dis. Other
transactions were carried through at from 1902
and u dis, with some increase in the offerings. It
is manifest, however, there are to be very few
sugar bills on the market, and the great depend
ence is on king cotton. The movements in foreign
exchange were confined to Sterling-clear bills
were taken at 100, and 1os4@lo94 exacted for re-
mittance. There were not many document bills
offered; the cotton not moving fast enough; the
only transactions to our knowledge were at 1854
and l0ss. The range Of the market being from
107l@l0sa. There was nothing done in Francs,
and we have only to reiterate our quotations of
5.2l4 @5l64 on Paris direct, and 525@5.20 on out
side ports.
The Stock market was quiet. Prices of many
descriptions of stock have advanced to almost fab
ulous prices. The only transaction we heard Of
to-day was l6 shares of Louisiana State Bank at $780,
We learn that the earnings of the Pontchartrain
Railroad for the last year $llO 900; expenses
and incidental repairs were 100000; net gains
Sc, 600, out of which there has been paid Get on
the capital stock, $4,000, which, Of course, makes
the stock now worth the quotation, $50 u share.
In the general miscellaneous stocks of our market
we have very few sales TO note, and quote the fol
lowing as the position of the New Orleans Stock
market to -day.