New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-05-18
Nsn @rlsans 1ailp Crestent.
WEDNESDAY MORNING, MAY 10. 1859.
Nsm 0rItans Monep Market.
cREsoEsT orrcE, No; 70 Camp street,

CREscEST OFFICE, No. 10 Camp street.
Tuesday Evening, Msy II, 1880
The Money market continues very regular, consid.
ering that many people thought that something of
panic was to follow the warke news which has been
coming from the other side Of the Atlantic for the
past ten days. 1t was not expected that outside ne
gotiatons would rule at the low figures Of and u
yet for long dated paper /; particularly as some Of
our banks have much paper rendered as they want
at the rate of get. The offerings for discount to-
day were beyond the income of the banks, still not
beyond their ability to grant rejection Of offerings
now and then ought to be rule as the managers of
banks, Or board Of directors ought to intimate to
oferers and the public, that they must not go too
far If money facilities become too easy of access,
they lead to investments productive of no real good.
There was nothing discernible the financial hori
zon to-day denoting change, only that long dated
commercial securities were scarce, and offers from
7@73 We have to note some good names as having
been placed at and 81 get. per annum.
The most important feature in the financial market
is the mdty Of holders of stocks in our banks.
Whether it is that they are weak in resources, or
have become alarmed at the expressions Of some
croakers and Bears, we cannot say but it is mani
fest that some of our banks have stockholders who
are drawback, in fact real incubus on them, and
would be an injury to any institution that happens
to have them Oh their books as stockholders. We
should like to know if the shares of either Of the
banks in this city were not worth just much to-day
as they were last week, two weeks ago, or three
weeks ago. The repeated inquiries, what do you
think OF stocks and what is going to be the effect
of war! all this that and the other might as well
be abandoned. And as for the alarInists croakers,
and agtators who from hour to hour prating of
panic, they may well abandon the attempt for the
present; they cannot raise a breeze. Yet unfoQu-
natey some of our banks have shareholders who will
be detriment to any association. We have merely
to say that if there any shareholders the ten
tiers going into fights, and will seout cheap buyers
are to be found at any moment We note the sales
to-day of 100 shares jackson Railroad at 81 ; 100
shares Opelousas Railroad at 81 and frightened
sale of 40 shares Mechanics and Traders Bank at 1922
There were other negotiations astr but not conform
able to Bear views
The Exchange market was inactive; not more so
than could be expected from the advance in the sea-
son. The counter rate for checks on New York was
at0S prem. Some of the Banks have still good bal
ances in New York and will supply their customers
for the present at prem Large sums are held at s
prem. Double Al drawers outside hold at J. Short
Sight from l@g prem. Thirty days Sight was sold
at and dis; and Sixty days Sight ranged from
@s and and II dis, down to II dis. There were
very few transactions in foreign Clear Sterling was
not offered. There sales for remittance at llO3
We quote extreme rates from 1l04@lIl and frac
tion over. We did not hear of transaction in Doc
ument Bills. Some large dealers in the foreign trade
said they would advance so get on shipments o
cotton to be made to Liverpool. There were SOM
few transactions in Francs at 5.0s4@5.05, but con
fined to travelling purposes. Some of our transient
and travelling residents must be cautious when they
arrive in France, that they not drafted into the
army of the Empire
The last monthly return of the banks of South
Carolina show the following figures: