New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-02-05

Ysh @rlealrs 9aiIp Grtstsnt.
SATURDAY MORNING, FEBRUARY s, 1859.
Nsm Orleans Nlontg Nlarkst.
cREscIsI Or.IcE. No. 70 Cam


Friday Evening, Feb 4 1859.
The tone Of the financial market IL strong, very
strong. It is evident there has been sufficient cotton
raised to meet the entire Indebtedness Of the country
which, of course goes very far to maintain the credit
Of the paper offering market Of that part which is
based on cotton. The paper based on sugar holds a
corresponding elevation though there is not SO much
afoat. We feel particularly grated to learn that the
results of the seasons product 1865 far as North
west Louisiana and that great section bordering
on Red river are concerned, will place factors in
ample funds to meet all assumptions Of last year.
There is doubt this point. True, we shall hear
of planter, pretended planter selling part of
his crop at home sending the balance to his factor or
merchant, with many expressions Of sorrow and re-
greet that be cannot qudate his entire Indebtedness
this season. It is, however, gratifying to find that
with the good yield and the good prices for cotton
this season. have almost cleared the country of old
debts and liabilities and if planters will refrain from
requiring advances on crops to grow, they will in
short time place their prices on their great pro-
duction, cotton.
As regards the general Money and Paper market
to-day, there was very little done. An occasional
transaction turned up now and then. We make some
changes in table Of figures with the remark that
any paper having the least pretensions to punctuaty
and solvency, meets with ready buyers. We quote !:
first-cla'. morssgs paper IL months longer 5g pct
commercial paper. ...................s @ ssSc
shsT dated, 70 menth. scarce ...::;::..e Se
Ordinary paper sometimes dubbed slow at from A9 c
All good paper is taken readily by the banks, and
perchance they sometimes get hold of paper based on
speculation. Money is destined to be cheap through
the entire season. in fact it will be drug. 1t is no
sort of for dealers buyers Of paper to aude to
European events. The tyrants and potentates of
Europe are not going to check the culture and
growth Of cotton and sugar in Louisiana, and money
lenders can rest satisfied for time at least.
The Exchange market was heavy to-day. There
were many sellers but few buyers. The counter rate
| for checks on New York was discount. This figure
has stood some weeks as the guide. Outside double
AL drawers sold at discount and we have to quote
from that to discount Sixty days sight at IL a II
discount to II a. 59c. discount. The foreign ex-
change market was dull, decidedly In clear sterl
ing we did not learn Of any sale. In document bills,
of preferred Names there were several transactions
| at 1911 q l072-extreme rates being from 1914 q
l07b Francs quiet and held Paris direct at 5264
q 5.2l}. Supply moderate Take the market all
| round, buyers had largely the ascendancy.
The Stock market was quiet. We note sales Of so
shares bank Of New Orleans at lOl3. Some few sales
of Scrip. The Commissioners of the Consolidated
Debt give notice that they prepared to purchase
5000 900 Of City Consolidated Bonds and will receive
proposals for the sale Of them till the 18th of March
| so the holders can send in their lowest terms.
| We annex our usual weekly quotations of Stocks
| and Bonds as follows