New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-03-08

Nem 0rleans 9ailp Gr.stent,
TUESDAY MORNING, MARCH 8. 1883.
Ntm ORLEANS Hlontg Htarktt.
CRKscEEr OFFICE, No. 10 Camp stree
Anndau Eusnin1 March 4 laEn

.z CMW U&ASR|to cSksuNt8 SttNtNk$e
Monday Evening. March I. 1859. !
The week commences with fine weather for bust |
ness, and with the large stocks Of produce on hand
it Is believed the weeks transactions will prove favor
able. We have open and free communication with |
the great interior and all produce intended for mar
ket this season will find its way hther at early
day. For the next three months the great Western
trade, embracing the large expected tobacco business
will compose good share Of the attraction of the
community. The Western merchants are prepared
for all that may come, and it is almost unnecessary
to again aude (but willy to the many advantages
offered by the mode Of transacting business in our
CITY, If the credit system prevailed in this city in
the great Western trade, we could not expect to
compete with Northern markets but the exclusive
course of cash for all produce sold without any dis
elimination, gives Western traders, merchants and
farmers advantages which they cannot realize else
where moreover this is the great sugar mart of the
country, and the great West will at all times give it
decided preference. Sugar and molasses will not
bear much railroad jolting and re-shippng, while in
the course Of transportation.
AS with the fine weather, the money market moved
along correspondingly. The calls on the banks were
moderate Outside the usual supply continues. 1t
is palpable that many capitalists and lenders of
money residing out Of the State are aware of the fact
that the commercial securities of New Orleans are as
safe, and in many respects, more so than those of
any other community on this continent. 1t has
again and again been demonstrated that planters
drafts drawn and accepted by resident factors are
the very best of floating securities, and so little
money has been lost in the South during the past ten
years, that capital from various sources seeks our
market for investment in this description of securi-
ties and we have also to add that the credit of the
South stands high in all distant marts in fact it is
at the very highest pinnacle of fame.
There were some few sales of paper to-day at q
81 yet. for long dated. The supply of satisfactory
names is, however, very limited; but the competi-
ton among buyers is great, it causes the porte
feuilles Of discount brokers to present meagre
| amount of securities.
The Exchange market was freely supplied to-day.
The counter rate at the banks for checks on New
York was steady at dis, with concession to a
large customer. Outside there sales at a 9ls.
Large amounts of double AL were sold at the latter
figure. In sixty days there sales at H. IL 1E@
dis, with good supply offering, and the market
for some grades closing in favor of buyers In ster
ing there were indications of greater rmness with
sales of clear bills at 1Oss a 1889 and 1881 Two or
|
1859, and refused to accede to the asking figures,
which prevailed at later hour In document bills
we note transactions at lOs a 1881, and favored
names fraction over. For remittance 1881 a 100
was asked. Francs were quiet. Very few shipments
are going forward to the empire, and French ex
change must, Of course, bear high figure for the
balance of the season, war or no war.
| There were some sales of stocks to-day, among
/ yrbc chare Of ayv0
Company at 222 1O7 shares Canal Bank, in two par
GELS P. T.. 100 shares of the same at 1879 % 900
of Jackson Railroad y cent. Mortgage Bonds at
so. The time for proposals to sell to the Commits
sioners of the Consolidated Debt, 100000 of the
city's bonds, will expire on the It'll inst All those
who feel disposed to sell cheap will do well to be
prepared and record their lowest prices addressed to
the Secretary of the Commissioners, and forwarded
to the Office at the City Hall.
Considerable disappointment was observable to-
day at the non.announcement of the Europa from
Liverpool However, we received the Jura's advices
of the 18th, which helped along, if there was an,
help required, to sustain Cotton market. The
Arabia of the Goth will be due at Halifax some tint
during the week.
The New York Courier and Enquirer, of the Isl
inst, remarks on money affairs:
The month closes with steady money market
loans on call at soc yet with irst-cass collateras
Prime business paper is taken at 61M7 The de-
mands upon the Banks for accommodation are in
| creasing slightly and f9ct is readily paid
Sterling bills for this weeks steamer are firm at
5000. The rate is not fully established to-day, and
| sellers may concede an to morrow. On Paris the
rate is 529 for Bankers bills at sixty days. and
for bills at short sight.
The Bank table for the week show a small addition
in specie, and a decline in the other items. viz:
Specie increase ........................Sl 250'0.
Dsn eas,i@ 1nst de g. ensess iso9S
The Merchants Bank, the Bank of New York and
the Bank of Commerce have together increased their
capital $4,000. The Nassau Bank has filled up its
capital to one million, making the aggregated for the
tifty-four Banks S6s, lS3S30.
The tabular statement of per centages of coin held
shows that very few are below the average agreed
upon GO tRct.) while several keep from 3o@4o get,
the net deposits Of all the Banks together. New Or
leans, without any foreign demand for coin, main
tains still larger reserve and holds confessedly the
strongest position Of any of the cities.
From Cincinnati we have the following of Monday
last:
The money market did not undergo any change on
Saturday. The discount houses were well supplied
with good paper but there pressure, and mat
tiers were, on the WHOLE comfortably easy. Rates of
interest remained at 10 a II f9ct inside and II a
IS in outside circles. Money brokers not supplied
to any extent with business paper.
The market for Eastern Exchange was compare
lively easy, the supply being about equal to the de-
mand, and bankers met the demand from customers
fully, at our quotations. Buying rates were hardly
so firm previously noticed, and in cases deal
ers do not offer over 25c for Baltimore and Boston
but we heard of few sales below 30, and there were
transactions in New York and Philadelphia as high
all except New York at Is q Soc, and selling rates
at 25 37sc. two houses checking for customers at
the inside figure New Orleans sight was in fair de
mand outside at ! prem. There was good demand
Il.