New Orleans daily crescent., 1859-04-09

The offerings in bank are fully equal to the income
and possibly the returns tomorrow so far as the dis
count line goes, will not vary much from last week
in the aggregate
There has been good deal said of the recent fires
and the bearing the losses may have on scrip and
stock. 1t has been supposed that some companies
have lost SO heavily that they might have to call on
the outstanding scrip for reduction. 1t is supposed
the scrip will have to suffer before the actual assets
earnings set aside as capital will be encroached
on. The losses though heavy will all be paid. But
we think the time has arrived that our underwriters
should consider the supply of water. They neglected
the invitation to come forward last year and aid in
organizing the Lafayette Water Works Company !;
possibly when two or three more millions of dollars
worth of property are consumed, they may move in
the matter. We are forcibly reminded of the old
adage, what is every body's business is nobody's
business" It is Of no use to be paayering about the
present Water Works Company. 1t was never in
tended when the charter of the bank obtained
anything more than gull by the original projectors
the Water Works were only intended to aid the
charter through the Legislature moreover, the pre-
sent company answered very well twenty to twenty
five years ago. when the limits of the city were cir
cumscribed though there were several ambitious and
aspiring young Americans concerned in the organza-
tion, yet they never conceived or dreamed that the
company would be called on to supply city of seven
miles front and two in the No, that they didn't.
Though we have no doubt the present Water Works
Company has an immensity of sins, omissions and
commissions to answer for, yet, with its privileges
and monopoly the stock is only worth four bits (old
fogy money! on the dollar; therefore, if our citizens
want efficient and capable water works, they must go
to work and build them. AS for the Insurance Com
panies if they do not choose to aid in any undertake
ing towards furnishing supply of the element, they
may expect to have to pay losses, and after while
stockholders may take into consideration the prncey
salaries and perquisites which appertain to incumb
ents of Office.
The Exchange market to-day had symptoms of
break down. There were several large operations at
par for AL sight drafts and checks on New York.
The counter rate for small amounts was prem. It
cannot stand. Towards the close of business sight
drafts were offered freely at ll6@i dis. In time bills
there was very little done. Some choice signatures
were passed at 4@5 for sixty days. These figures
cannot be called a quotation The general run of
bills were trken at l, ll@1l dis. There were very
few offered. We quote extreme rates from 1@14 dis
count which is broad enough to meet all buyers who
want time bills. Sterling was more freely offered
with buyers insisting lower figures than were rul-
ing yesterday. We quote good to choice names 10s3
l09@lO94 with several sales transpiring. Document
bills lOst@1Ost. Francs quiet-52O@5l5 were the
rates.
The Stock market is rather quiet in fact fiat. We
only have to note the sales of 100 shares of Citizens
Bank at the advanced figure of 221 aud 46 shares of
Louisiana State Bank at l764 and 70 shares of Cres
Cent City Bank l053.
The following are the values of shares and bonds