New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-11-22
ne6 ORLEANS DaiIp Crescent.
GLEN 0rItans 1lonfv Markst.
TUESDAY MORNING. now n Ser ~. 1883.
cREsczsr orrlcr, No. 10 Camp street,

CRESCENT OFFICE. No. 70 Camp street.
Monday Evening. Nov. q, 1869
The week opens under a remarkable degree of
qnietness The calls the banks for discount,
though not large, were equivalent to the income.
On the street we did not learn Of negotiation
worthy Of remark, though there were prospects Of
something turning up. The most important talk or
movement to-day was the action Of the Bank Of |
Louisiana in extending its operations to include in
ita regular daily exchanges the Free Banks or the
banks organized and working under the general |
banking law. Though this movement was mot one
of essential Importance, yet it s regarded all round
with something akin to good feeling and brother
hood among our moneyed institutions. This re-
mark must not be construed that our banks Goa
Lessee and adopt certain regulations to do SO and
for the benefit of all. We do not believe there is
body Of banking institutions in the world that move
and work along so Independent Of each other az
the banks Of New Orleans. The movements and
action of each bank are carried forward from day
to day without any regard to the positionof each
other. In fact, every bank works by its own daily
position its own merits. The day closed
without any real animation in all branches of trade.
The great fucrum of trade, Exchange, its
course and the many fluctuations which have at
tended transactions for four or five weeks forms
subject for comment. We are in the midst of the
most active season for the cotton market, and with
the large sales which have been made since the LIST
of October, the of sight funds on the great
financial center rules against US instead OF being
z9l get. dis. in favor of this market it is only
@s dis. But what is to be regarded and discoursed
on is the constant variations from week to week,
| or we may say from day to day. There is no pre-
cedent for the present position. True, there are
very few bills, rather very little Northern Ex-
change to be derived from the sugar CROP that is
settled question, as in all probability the entire
yield will be absorbed for the markets of the West
Alabama and some little for Georgia therefore,
the dependence for exchange is on cotton alone.
| Exchange opened this morning in favor of drawers
and sellers As regards sight on New York, the
counter rate at the most of the banks was / get.
dis. Outside rates 1, s@7-l6 dis. At dis. there
were buyers to the extent of $500, 900. At get
| dis. million of dollars would have been taken.
| There did not appear to be much time exchange
| offering to-day. The inquiry is made, "where is
all the exchanged" We may also inquire, " what
innovations are these now apparently progressing
in our Exchange market?" The small sums of
sixty days sight on New York were taken at la@ll
dis. In sterling the transactions comprised some
and high make at 1Os4@losl, and other good bills
not so well up in the prestige of fame at l0s 1851
Ql0s4. The extreme range for clear bills was from
10st@109E for remittance l09s@1l093. Francs
were not offered freely; though large sums, OIL
rather increased amounts, were expected on the
market, they did not appear, and what were offer
ed were held at prices much above the views o.
buyers in fact, there was no margin whatever
We have to quote Paris direct SOL Gl5l7a, ant
other ports 5234 @5.2o payable in Paris. 1t really
appears that all large exports of cotton to Europe
are to be absorbed by the general Indebtedness o
the United States brought about by the large i'm
; portations, great part of which is composed o
dry goods, haberdashery, fancy article and genera
gew-gaws. To our increasing exports Of cotton
we have to add that seventy millions Of dollars i
g specie have been shipped from New York and Bos
ton since the LIST Of January last, and the countr
is still in debt to transA tantic friends and
: indication that it will ever get out Of debt.
r The Stock and Bond market was quiet to-day
' The sales to our knowledge were l25 shares Cana
Bank at 1873, and so shares Bank of New Orleans a
1881.
There have been some large failures in New Yor
outside of the dry goods dealers which have bee
: talked of. The firm of State, Gardner & Co.,
large shipping house, is one of the most mportan
liabilities, $500 000 The talk is, that the house ha
been dealing largely in Western railroads. Anothe
great failure is what was called the Kerosene OF
Company. 1t appears the Company, like grea
I many others heretofore, went ahead so fast tina
all the subscriptions to the stock were swallowed
up, or perhaps burnt up, before the stakeholder
knew where they were. For instance, the Com
pany, or somebody for them, undertook to cree
buildings, costing 100000, without the read,
means. According to our information, the name
reported to involved in the .fduI pas are P
T. Ruggles, Eagle & Hazard David Austen, Jr.
and the Delmonicos, the great hotel keepers.
c0MMER CIAJ