New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-12-29
slt(u ORLEANS 1ailu Crescent.
HURspAY MoRNINe. pEcEMBER %, ISIS.
alsp 0lLeans atlaaeg 9larhst.

f.aEscgsr Oys1ey 10 70 f,gr7p sfresf \ 0
Wednesday Evening. Dee. o. 1850. \ r
We are approaching the close Of tIe year 1859. Il
which has not been attended ia this community
with any excitement irregularfty in general
market. 4 year ago the course Of exchange, cont
merce and trade in general brought to the Yauts 4
OF our banks large sums in coin, the effects Of
which haTe been experienced through the various 4
ranifications Of trade, and the broad and varied
connections and interests 50 greatly involved in
the general prosperity Of city until witEia four
and five weeks. Since that period, or from the
close OF last month"; it has been manifest that our
banks have been working on in conformity to the !
statutes or the requirements Of the laws applying
to banking. With remarkably low line of circuIaal
ton at the close of the year 1855 the banks held in
coin sixteen millions of dollars, and in the argre. :
gate had surplus of over so get, that is, above
line, with the four old chartered banks. To-day
they held 300 900, and Of the ability for
investing in exchange restricted.
In the hands of brokers there are very moderate
sums of paper, which leads to the superstition that
the demand for money is not in excess of last year
at this time, appears by the following, which we
wrote on the 2sth December last:
There large offerings for discounts day with Of
the banks indicating steady increase in bn8ines and though
s2iood at se rate q fc, os a@l0 PET There are
course to BE- made viii only change from one account
% and fsl S month"; a fn'Iss us viii
| ample and rates reasonable.
| The foregoing remarks will apply to the present
position of affairs. Money for strictly legitimate
and business purposes will be available. But
whether the agreeing to pay $500 each for de-
scensants of Africa, and s151s2O q for lands,
can be called legitimate justifable, is question
not so readily to be answered it is propounded.
4 "a ~. In. i
the part of our community is now % get. above
last year at this time attended, as the general
financial position Of our community has been by
larger receipts returns for produce than in any
previous year, or in any year recorded in the an
nails of our commercial history. The increase of I
six millions of dollars of debt to our banks is not
all. There are other large sums, Which will appear
as the coming season advances and pay day APP |
proaches In fact, before the season Closes it will
be found that the Southwest, and that part CON
nected by commercial ties with New Orleans has
e discussed too much money North of Mason and
Dixon's line, well in Europe. Very for
tunately our banking system is restrictive one,
and the movements under it every day and
every week open TO the inspection of the public.
The chief feature-the main prop of commerce.
, the sustenance of the great cotton market at this
the buying and selling of bills of exchanges without
!, the ordinary facilities granted by our banks, our
/ great cotton market would cease to move. We
might fall in, and echo to the cry of gold for cot
: ton, but it would not come unless it would pay,
and the inference seems to prevail that buyers
. of cotton will bring gold along, and when they ap-
i pear on Carondelet street, around the brokers
+, tables their breaches pockets will be hanging
with tho ,f Mo-
this expected supply of gold was not even appar-
ent to-day, the consequence was, the Bears in ex-
change had it about their own way. The rates OF
sight on New York for double Al were, however,
steady at l y ct. discount, which was about the
only item as regards regularity that we learned to-
> day. Other bills of choice and good names were
DIS sold at l5@l4 and l 5-15 dis. The banks were
holding over the counter at dis At the same
time there were round amounts Of bank checks te
be had at 10l1t dis, which is proof positive of
- downward tendency. There was no market fol
time bills, other than the sales of some factory
bills made by old established residents on Boston
10. which were taken at q dis. On New York the de
>. mand for time drafts fiat. We quote e2trem,
rate at from 24@2a down to q, 3@3t J9ct.-broat
H. enough to meet The most fastidious buyer. Il
sterling there were several transactions in clea
!, something very strong to command over 1850
''' 1913. Document bills ran along without ben!
L. stopped, at from 1865, l0G5@l06f. The best o
spinners, drawees, cannot be placed better thar
1o6!@lo7-a broad range, but not so broad as j
might be. In francs there was very little doing
Some small sums on Paris direct were closed a
5.2sf05.27a making the extreme range of TIL
market at from 5.37l@5.30 and 5.264-the latte
Or figures not to be received quotation, bu
considered as an outside asking price,
In stocks and bonds there were 70 inquiries
they are dull fiat and inert, and likely to remail
so for some days. There have been some small
sums of Louisiana State six per cents sold in New
York at 944, but as they are worth more than this
the offerings are few and far between.
The accounts from St. Louis Louisville, Cincin
natl and the West generally, are of very stringen
nature. The Cincinnati Gazette of the 22d says !:
s SSk wars" Tas very ypi aaS ~ sa e
FIR s ps b S S as s orders ICING hs
from a'a Sr NswYek r and Boston b
y 's e supply Teas were sales prime NV
III 's {" two 9 a
sssess3 yssla nasats s rpPfoash
@ s: s;s vain sa $ s1 sss Ts a
bank being returned for tedenpion
first of january approaches, there likely TO b
ful demand for week or ten days come that reaction
this evening by asserting houses More would bav
Orleans sight uimporan. The market Is gold
sold to-day 45I50 There
any great amount, however, these figures. We quote
Buying. Selling.
My York Sight i prem, 3 prem prem
Philadelphia a PREM prem
New Orleans oi g pa prem prem
The Valley Bank has made no change in its rate which con
tn,es ut q premium. 49, $500
III, No change mcurrcn There better denan
to-day Western currency and rates sustained ut Ia dis
buying and discount selling for Illinois, Missouri Iowa
and Wisconsin.
he gebien IT tge Mlarktts.
adj
VI SM CRESCENT OFFICE, No 10 CAMP STREET,
81 81 Thursday Morning, Dec 90 1859.
CoTToN :. There was rather active deman
. yesterday, resulting in sales Of some 10000 bale
prices being irregular and easy for buyers, withot
baa any quotable change Tuesdays business prove
:, to have reached about 10000 bales. We repe
ing our previous figures:
me NEW ORLEANS cLAssIFICATIoNs.