New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-10-28

IT., Thursday Evening, Oct. n, 1851 )
Inc money market moved along on the 5000
o,usi ''-aay. Some short loans were arranged for
'e ia'e d oe1s get, and some long dated paper,
.n's -, from Iour TO Six months, taken at 7@8
F'' mere Is no deficiency in the amount Of
money seeking Investment from last month. Take
the money market all round, it favors borrowers
and sellers OF paper. Though there are MANY re. |
marks advanced that we shall have a tight money
market during the coming business season. or
through the ordinary winter months, we do not
observe in the immediate future anything to war.
rant these predictions that are to react to any,
even tolerable-extent averse to the present gem
eral position of the mercantile community Of New
Orleans. There are efforts being made to reduce
the number of hogsheads of sugar to be realized
this season. A short crop of sugar has not hereto
fore influenced our general money market. But
what is to be considered short crop, when each
season has various multifarious changes? For in
stance, the crop of 1854 was BAG, 635 hogsheads !;
1855, 23l, +27 hogsheads; 1856, 73 97s hogsheads ;
1857, 279,6s7 hogsheads; 1858, 1862, 1896 hogsheads
Of course, the crop Of 1853 of $4,000 hogsheads
can be classed full yield, yet it only brought
SIS 900, when the crop of 1858 brought within
sumo from these returns that medium or an aver
age crop commands greater amount of dollars
than an extreme full crop therefore, it is reason
able to conclude that our money market will not be
operated on adversely favorably by the yield of
sugar. Then, again, we find that in the season of
1854 that 1856 900 lbs. of sugar brough SIS 00O
600, when in 1856 300OO,0oO fbs MORE or say 4l4,-
10000 lbs brought SIS 900. We are, there
FORE tolerable certain from facts before us that the
present crop Of sugar and molasses is likely to
yield over 81 1000, provided the large stocks in
Cuba are not brought into consideration.
We had yesterday to allude to decline and
something of breakdown in the Exchange mar
ket Buyers and dealers, or the Bears, had the call
to-day. The general counter rate at the banks for
| checks on New York was an 18th prem. Outside
there were sales of double AL at par, and good to
fair drafts from par to 18th dis. We have there
It'll dis. Thirty days sight 3@E dis; sixty days
at l2@ll and get. dis There were several large
transactions at Ii dis which is the highest attain
able price for the best of bills, though some exclu-
sive drawers held at ll@1a dis, but these figures
cannot be realized in open market. We have,
therefore, to quote good to fair commercial sixty
days on Boston and New York from II (excep-
tionaD to IA, 2@24 get. dis. Sterling was offered
freely to-day In the words of an extensive opera
tor, it came in like heap of bricks, Or possibly
the remark might be qualified, and it came in like
the square block stone, which has almost as great
attractions at this time the great Exchange mar
| ket; nevertheless, the general Exchange market
to-day as fiat as the flags and pavements. The
highest rates for clear Sterling was lO94 for good
bills, though fraction might have been realized in
extreme cases. We quote clear bills from lO94@
1903. Document bills from l07l, lOs 10sA@lOsl.
In Francs there were some sales, say $4,000 at
Sigh $4,000 at 5.l7a-the market running on
Paris direct from 5.l7a@5.l5, with bank drafts at
5.l3i@5.l25, making the extreme rates (Which in
cludes outside places at from 5.20@5.l24.
| Stocks and Bonds were quiet. The only transac-
tons we heard of was l50 shares Bank of America
at 1885, "a tolerable high figure. Parties holding
stocks do not feel inclined to sell unless at the
highest prices, for there is investment offering
VALUE Foreign Countries no the Po
and District of New Orleans for the
| year ending on the 30h of September, 1859: