New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-12-15
Neh Orleans 1ailp Crescent,
MORNING. DECEMBER i, 1889
gltu ORLEANS Mlonsu Hlarket.

wednesday EFeningi Dec H. tssth J.
There was marked dullness in financial circles
to-day. Very few negotiations were made through /
note-brokerA, and biII-holders found it difficult to
realize in exchange at yesterdays rates without !
any real decline or falling off being established |
The banks are having full employment for all their
| resources both in exchange and paper Much, |
however, depends cotton. The most important
feature to-day in commercial circles arose from the
purport Of the private correspondence, received BY
| the Persia at New York, and which was received
here to-day, which was regarded az unfayorable |
though the Manchester accounts denote an active
demand for yarns at highly remuneratng prices.
Whether market was or was not operated on
by these accounts question not solved before
the close Of business to-day. But the general
ket closed under great torpidity.
The movements in Exchange were confined to
sales Of checks on New York at all the banks at
get. dis. which may be deemed the standard rate.
Double AL outside ruled at IG5t dis for bankers
! bills, and when we aliude to bankers, we do not
mean come-to-day and go-to-morrow drawers, or
| parties who draw on Mr.. Tom one day and Mr..
Harry the next; though, of course commercial
drafts must be Of greatly diversified nature, ac-
cording to the extent of the business of the draw
ers. There were good commercial drafts at sight
sold to-day at discount, and similar grade Of sixty
days sight at Ii, 2t02s dis, and lS5l3 for bankers
drafts. The extreme range was from Ii, 23G525
dis. The bulk of operations averaging get. In
short sight, say ten days, quote dis. ; thirty
days sight iGGl2 dis. Sterling offered freely,
though no great decline attended the increase of
offerings We quote clear bills at l0stDl0s3 docu-
ment bills from 1911, 1O7a@l072 to los. There
were sales Of good bills reputed spinners at 1879
Gll073 and los. For remittance the rates ranged
] from l083@l08l. There il, however, very little
z inquiry for remittance at this moment. There are
Z more francs appearing, and we note sales in sums
J of 100000 at 5.223, payable in Paris. The market
I was very weak at from .22a and on outside
! ports 5.2s4@5.25.
, In Stocks we note sales of 80 shares Crescent
City Bank at l03 100 shares opelousas Railroad
ST. The market not pressed and very few share
70 offering as money can be borrowed on them a
y | low rates.
z The annual election for Directors of the Souther
e Bank was held to-day. The following gentleme
i were selected to serve for the ensuing year:
4 Messrs. Frederick Rodewald, President.
Z Gustave Miltenherger, of Alphonse Milter
Il berger & Co.
i w. C. G. Claiborne, retired gentleman
i Aristide Mitenberger cot. and sugar fac
y FERDINAND Rodewald merchant.
nj c. H. kernion, of Roman g. kernion, con
RI mission merchants
This is ticket identified with the city, four
IL the elect being Of the born, and the u
+ of the first Governor Of Louisiana. The usual an
y regular half yearly dividend of act. Will be pa
r at the usual time to stockholders next month.
If is hardly necessary to remark that the large e
y change operations of this bank are continue
70 which serves the great and varied interests of col
and trade, the regular counting Of
10 mercia paper which il not overlooked in the &c
% eral transactions Of the bank It appears by Il
u returns of the Board Of Currency commerce.
d2 securities, of both long and short date, are col
,5 prised in its movements
~ The members of the Board of Currency ha
been making the usual quarterly examination
n the banks We are informed that they find all
be good condition, and no cause for complaints or
&C. Election percevable. OF course, it is not expect
"e that any deviation from the law has attended
- general movement Of the banks. True, two
al three of the banks have got out of line ocC
Ia sionally, but there was violation or disrespe
80 of the law intended. Large operations in exchan
= to meet the present amount otferng-if taken
r. any of the banks-would throw either of the ban
For out of line. Some orders for coin have been ft
t. warded to New York. We learn that the Bank
ing New Orleans has ordered SluO,00U. IL Will be w
.,,, 7, ar ~ t1,o -,
and loT oul Dpaia VI " oosiuei thS ~
Of f,r+har raductinp in of inSr
feet fSss - " ~ -
ance so that the actual cost of bringing coin fro
t. New York shall not exceed half of one f9ct. {!
- lue express COMPANIES, we ieafh, Can piihs ~
E#H this charge. The present costs are freight,
surance, J. with fifteen days interest to be include