New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-03-19

The following is the act passed by the Legislature
relating to our banks to which we alluded in our last
As there cannot, think, be any reasonable oljec
ton on the part of the banks the CARRYING out the
act will save an immense amount of trouble and as
the measure will not be attended with any EXPENSE
the impression prevails it will prove highly satisfac.
tory No new Offices are created, and the act will
fulfil the purposes of general clearinghouse +:
| An Act to enforce the weekly statement of the
balances among the several banks of the city of New
Orleans III conformity to the 18th section of the act
entitled An Act to revive the charters of the seye
raj banks, located in the city of New Orleans or for
other purposes Approved Sd February, 1912.
SEC BE it enacted etc., ETC., That in addition to
the statement required to be furnished to the Board
of Currency, on Saturday of each week by the Pre-.
sdent and Cashiers of the various banks as provided
in the second section of the above recited act they
general ledger of the respective balances in favor of
or against each bank, as they shall appear after the
exchanges of each Saturday with the debts and Gre
dts added up in such form as may be prescribed by
the Board OF Currency, SO as to show whether thew
creditor or debtor banks and said statement shall
be delivered at the office of the Board of Currency
Immediately after the said exchanges shall have been
effected.
SEC. 2. Be it enacted, etc., That the Board of Chr
rency shall on receipt of said statement direct their
Secretary, or in his absence, any other person duly
authorized by the Board to that effect, to draw
check or checks the debtor banks in favor of the
creditor banks to the extent of such balances Said
check shall not be transferable or negotiable and
shall only be paid to the bank to whose order they
may be drawn on the endorsement of the Cashier or
President thereof and the banks receiving said check
or checks shall cause the same to be Immediately pre-
sented and paid in specie, and the balances shall be
thus definitely settled in coin, each Saturday pro-
ylded that if any debtor bank on which check may
have been furnished by authority of the Board Of
Currency, in settlement of the balances resulting
from exchanges as aforesaid, shall suspend its nav.
menus IN com on such Saturday, before said check
snail nave been presented and paid, the bank or
banks to whom said defaulting bank was indebted at
the time said weekly statement was furnished to The
Board OF Currency, shall be required to make good
said check in the proportion in which said detauIting
bank was indebted to each previous to said settle
ment.
Sec. g. Be it enacted, etc., That nothing contained
IN the preceding sections shall deprive any of the
banks of said city of New Orleans of their right to
exact Their balances in coin at any time during the
intervening days of the week, it being the true in
terest and meaning of this act not to affect in any
manner whatever the relative positions and RESPONSE
ties OF the several banks towards each other in re.
gard to their daily movements, or their indebtedness
at the time OF making said weekly statement but to
provide for the regular payment of said balances by
transfer OF so much coin only as may be required
to complete and enforce said weekly settlement
In uncurrent money there has been very little bust
ness transpired during the week. As the season adj
vances the offerings of distant bank notes fall off but
the demand continues fair and brokers and dealers
are daily relieved of their purchases. There have
been fair receipts of Mexican dollars with a good
demand for dollars at lO54@l05s. There is good
demand prevailing for doubloons, which are readily
taken at our quotations. Theylose from 7lalO net
from the Havana standard, when forwarded to our
Mint for rc-coinage.
Land warrants are without change-demand mode
rate, and supply not large.
We annex our usual weekly quotations of coin and
uncullent money, being the rates OF John Wood cor
ner Of Camp and Common streets