New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-12-22
Neb Oneans pailn Crestsnt.
THURSDAY MORNING, DECEMBER ~. 1853.
Uem Orleans Mloneg Hlarkst.
CRzsczsr orrDE, No. 70 Camp street.
No., Iasf

Vtn ORLEANS Nloneg Hlarkst.
cnrsczs. OFFICE No. 70 Camp street.
Wednesday Evening, Dec. II. 1850.
| The movements in the money and paper market
to-day were adverse to borrowers or sellers Of
paper. The offerings for discount with the banks
were large; in the aggregate, about twice the
amount Of the ability to do. OF this is not
unexpected with those who have closely watched
the general money market. It was predicted there
would be some stringency before the close OF the
year. 1t cannot, however, be charged to the con-
tenton between buyers and sellers Of cotton as the
resolutions of the buyers only went into effect two
days since, and the present cIoseness of money or
the incipient action of stringeney, dates much |
further back than two days. Outside Of bank, or |
in the street, there increase in the quantity
of paper offering, and good commercial securities
were taken at the closing rates of last Saturday
say 81 to get. for long Dated maturing in Decem
Der, 1860 With an amount of Indebtedness to the
banks approaching thirty millions of dollars, which
is 80 yet. above the amount Of last year at this
time, with the specie reserves four millions and
quarter less than at this time, can it really be sup
posed that onr banks can discount everything that
is rendered? On the 9th December, last year, the
specie in vaults footed up sixteen and quarter
counts were expanded over million of dollars,
for the week previous to the first of January. 1t
is doubtful if similar expansion at this time can
be justified or allowed by the provision of the bank
statutes. Up to this period last year the receipts
of coin, most of which was from New York, were
seven and half millions Of dollars. Well, the in
qury is made, why do not the banks bring coin
hither2 On careful perusa of the charters of the
| xriTIh no ranuirinp
them import coin, to be received by one Teller
and paid out by another; nor they required to
purchase exchange or bills to be paid outside of
the limits of the State. Therefore, it is very easy
for parties to say, why don't the banks import
gold?' This can be replied to, "why don't buyers
of cotton bring gold with tDm to pay for the
cotton?' Undoubtedly they would, if they could
= get the cotton at metallic prices. That would
e the banks great deal of trouble: and Mississippi
legislation, in prohibiting the of paper money
7 under certain amount, only leads to hard money,
: or metallic prices, for the great staple;
auently the great decline in exchange has to be
taken into view by all buyers of cotton. It's idle
to remark, "why don't the banks take the ex
change 2" This is met with the reply, what have
J; they got to pay for it?' Gold is lacking and
de these notes. when paid out hour, liable to
~ a. t'"5S~"N''~
that the oft repeated remarks, "why don't the
'e banks take the exchanged be duly weighed and
for reply we have to state that they have not the
money and that is the long and short of the ex
= change market.
There were some sales of bank shares made to-
ID day, at a decline from previous rates Some sales
" of shares of the free banks at decline of 81 80 te
n So 90 per SHARE and the highest offers for shares
+J,o ,11 n of In
share, from the highest figures. Bonds were inert
10 movement whatever.
The annual election of directors of the Bank o
America was held to-day. The following ticke
was returned unanimously:
Messrs. VIM. g. Hewes, President.
j. Niosca, ST., retired merchant.
TX, A. B. Charpantier, of Lobit Charpantier
TX sugar factors.
v John Hughes, ship builder.
LAT. Foger, of Folger u Bros, hardwar
i merchants.
We VIM. Whann, of Tow Boat Association.
AVS G. b. Payne, Southern Steamship Company
on Leon Queyrouze, grocer.
w. B. Schmidt, grocer.
B. Charles J. Leeds, of Leeds Foundry.
= Chas. Cavaroc, of Cavaroc Co., importer
.S, in the French trade
Il E. H. Harris, of VIM. S. Wright Il Co
A. Western commission merchants.
9ks Aug. Desommes, of 0. Talamon Il Co., DR.
) in goods.
AL pTduCHeS Vi titC SISdt SohiieieV anu a"uS
our city, all classes of our citizens represente
her in this direction. Each member is closely ident
n fed with the prosperity, welfare and credit of Ne
Orleans. The regular semi-annual dividend will
declared in few days.
The great fucrum of our commerce, exchang
le! was torpid to-day. Buyers on the street had
about their own way, though we did not learn
one offer of 1904 for document Sterling bills ben
,,Jo 80 ,;r Mo-
had York to the extent of $4,000, at get dis; br
the figure was not current. The buying rates
per the banks ranged from 1916 to and 1916 dis
be with two banks declining to purchase. Double A
ing sight ruled at dis. The counter rate at the bank
:, was from los dis. with concessions, in some il
~ stances, that would lead to dis.-the same q
double AL outside. In time bills the market wa
arm glutted We have very few transactions to nott
and these were at from 24, q to u, and low grad
at q. Choice signatures held at 26l2a get. 1t
'A hardly necessary to allude to any sales inside
&C. &C. set dis In Sterling there were sales of goo
io document bills at 1919, extreme rates from 1910
= lO7s, and clear bills at 1919, 1Os@l0si. Remi
u" lance rates 1881 land fraction above. In Franc
a perfect stagnation and dullness reigned supreme
~ We quote from 5.2s2 to 5.22a, and 5.214@52o ft
ght bank drafts on Paris direct.
| Inc western markets COHlIue lolelauJ otiH
ae gent as appears by the following from the Cncir
nee natl Gazette of the 14th
market has been extremely close during the wee
be- closer time for and during II
days have been able to do but little in the
be of Currency has been running down steadily until
reduced the lowest working average The bulk
the money hogs has been carried into the connr
of the interior hanks have ordered their balances
mtted Rates of interest with the regular hou
0@2 s but short loans have been negotiated on
side high fc per month. To-day there was slight
improved feeling owing to increased collections M
impression that the has culminated but y
SHALL doubtless have another close week before great reli
n, will be experienced :, -,
Owing the scarcity of Eastern exchange decline
nt yesterday a buying and prem selling and
,s1 fhong there slightly improved feeling to-day yet the
sellers than buyers at quotations Most the or
allowed customers prem for New York sight but shee
en- ply of exchange is not large and it Is only because Of the
IRENE scarcity of that it is Mt all burhenome Ne
Orleans sight bought to extent at par but we heard
prem There is demand at present for time bills either
the South This Is owing to the for none
The nomnally SOLO yet. Although the offerings
good paper obaabe at present. at equal to 10 ~
Gold is dull ut q prem
8ebie@ ri tbe Markets.
,rs CRESCENT OFFICE, No. 10 CAMP STREET
rIn.yN Nrr