New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-03-04
Nsh Orleans 1ailu Gr.stent.
FRIDAY MORNING, MARCH 1, 1883.
Nem 0rkans Hluutg Narhst.


SHW WkM0No Sytuukg StN%N&ts
Thar.dsy Evening If: N II 's 5, 49, So
The tone Of the Money market to day was on the |
quiet order. The discount brokers have very limited
amounts Of paper on hand and all long dated paper
that ia, such az natures beyond the LIST November
next Is in request. There is considerable eompeti
ton for the plums Some of the old banks exact
get on all paper having over 12O days to run. Out
side dealers knowing that this is legal rate, and
that the banks do not often deviate from it, step in
and take good share Of the tenders. We have to
note sales to-day Of 10 to IL months at q 81 get,
which are less than the bank rates.
The most important feature Of the days move
ments was the sale Of the estate Of John McDonogh
which fell to the City Of Baltimore. The concourse
Of citizens was large. The property in the rear of
the city brought very high prices. The improved
property in front Of Tchoupitoulas street sold cheap
some Of it very cheap though many Of the buildings
are somewhat dapidated, they pay great interest
on the amount at which they were bid of. Full de-
tails Of the sale will be found in our columns.
The Exchange market opened with good demand
for sight and short sight funds on New York-the
counter rate for checks was dis. Double AL Tout
side) 7ls q dis. Other grades a s-ls; five
days sight was passed to considerable amount say
$40 900 by party at 1l1s; $4,000 by another at
the same, with other transactions say ten days sight
at 1876 and thirty days sight at II a II dis. No
variation in sixty days sght-ll for choice, IL for
good, and OF for sound to fair. In Sterling there
were some sales with free offerings in fact, plenty.
We have to note sales of clear bills from 10s 1854,
1889 q l0s4-dealers buying rates. For direct re-
mittance there is very little inquiry We, however,
quote from 10si q 1859. In document bills there
was not much done. Some special names were taken
at 1913. Ne have no change to note in our last
| general quotations. We did not learn of sale Of
francs, and after the following paragraph, which ap
peared in our right hand cotemporarys evening edi-
ton, it was useless to attempt to negotiate francs,
and the effect may continue in full force for some
days:
HEAVY FA1LUREs-Several heavy failures are re-
ported to have taken place in France, and much
easiness prevailed in commercial circles in conse-
quence.
Last week we alluded to remarks made to us Of
bills France having been noted for nonacceptance
As we were aware that declination on the part Of
drawees to accept was no evidence of justification
that the bills would not be paid at maturity (being
drawn at sixty days sight) we did not publish the
parties designated, do now think it proper te
promulgate them, because the drawers will may il
most instances be protected through other sources
|
signify that it will not be paid at the time it falls due
nevertheless, under the critical position of affairs il
the French empire at this time, it would not be
prising that untoward advices may compose part Q
: the next accounts.
! There were some transactions in Stocks, say 10
shares Crescent City Bank at 1881 20 do. at l04
do. Canal Bank at 1919; rs do. Mechanics and TRAD
ers' on PIT. so do. Bank of New Orleans at 10l
Messrs. Palfrey & Co. will hold sale on Saturda
r (to-morrow) at Banks Arcade, Magazine street
where they will offer bank shares bonds of variou
| kinds railroad shares and the usual assortment o
miscellaneous securities
Those intending to leave for California on the 5tl
inst, or at any other tme will find checks and draft
on San Francisco at the Merchants Bank, Cam
street, which will obviate the necessity Of takin
con as these checks can be negotiated at any plac
on the route.
The following gentlemen have been, by the prime
pal or mother bank elected directors for the Branc
e bank, Camp street, for the year ending March
K | 1880: Ya-
Messrs. W. Il. Avery, President, of Bogart, Fole
L. Avery, cotton and sugar factors; A. D. Grief
i. grocer; J. A. Stevenson, of Frellsen, Stevenson
Co., cotton factors; George Foster, commission me
chant s. H. Kennedy, Western produce, Presider
> Chamber of Commerce; J. U. Lavillebeuvre, retire
merchant W. NJ Perkins, cotton and tobacco facto
Elijah Peale of Henderson & Peale, cotton factors
j. j. Adams, grocer; Jules A. Blanc, manufacture
of bricks and planter. The only change is Mr.. Fo
ter's entrance on the walks of banking, and two
three exchanges with the mother bank.
d The banks of the City and State of New York al
required by law to make returns four times per YET
to the Banking Department of the State, which e!
ercises control all banks similar to Board of Gu
, rency, the Superintendent of the Department bein
the custodian of all bonds stocks and mortgages d.
posted with the State security for the issues issue
by the several banks. The following is the las
quarterly report of the banks Of New York: