New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-06-25
Ne@ 0rltans Bully Crescent.
SATURDAY MORNING, JUNE Is, 1859.
gsw 0rleans 5ttontg Nlarktt.
CRESCENT orvIcE, No. 10 Camp street,

Friday Evening, June "A, 1859
The general Money market moved along yery
quietly to-day. The calls on the banks were only
equal to the income. All business paper is accented
If applicants have not received their quota before
There were sales of six months commercial paper on
the street at 81, and other grades at 90IO ct The
banks and outside dealers, it would be supposed
were competing for some names. 1t must not be
overlooked that our banks of the old class are allowed
to charge T3ct. % annum in many instances. while
the free banks are restricted to 19ct on all paper
maturing beyond 90 days. The general feeling to.
day was decidedly in favor Of borrowers on good
securities but what constitutes good security to meet
the views of all lenders of money and dealers in IA.
per- would be difficult to presage. The supply of
money is yet Free and it is tolerabe certain that it
cannot be employed in France to better advantage
than in our CITY, and those quasi citizens of Louisiana
now in France may well reflect on withdrawing their
money from this locality, under the expectation that
it will do better in the Empire under the auspces
Of the great loan of last MONTH Our views are that
they who have money here will serve their own in.
terests by allowing it to remain, and consult their
friends and our dealers in securities in regard to in
vestments.
There is very little of low grade paper Offering on
the market in fact, it appears if money cannot be
realized at s3@9 and 10 get, no one cares about
borrowing; yet there are parties who are compelled
TO submit to tonsoral operations at the rate of l
u fct month just about the same rate as rules in
Northern cities between the hours of IL and P M.
daily though 5,6@7 Get may be quoted daily as the
rate OF call oans but these loans are made on State
stocks above par and United States stocks and Trea
sury notes, but we may say those parties who can
mold United States stocks never in want of loans:
so these call loans 80 often alluded to are made to
parties, brokers, shavers and so on, who borrow or
loan from Paul and pay Peter half in current stocks
and the balance in certified checks so much for the
daily reports of that pandemonian Wall street. New
York.
Our Exchange market to-day had heavy feeling.
There have been several transactions, commencing
yesterday and closing to-day, reaching $3.50 900 in
sight and short sight drafts on New York. We note
the sales Of 100000 at sight on NewYork at prem
further sum at ZIG; another sum at prem still
further sums at prem with other sales at 7-l6GaA
yet. prem, with three days sight at prem; sixty
days sight l}@la dis The two days transactions
footing up five hundred thousand dollars In foreign
there were sales of clear Sterling at 1092llO Re-
mittanee rates higher. In document bills we did not
learn OF transaction, though we may quote 10ssa
l0S4 and l09 as the ruling figures. There is some
exchange based on tobacco, but the buyers of the
weed take affairs cooly, and are not obliged to 20
into the open market and pledge their bills. They
are operating as though they controlled the market
which they really, in fact, do at this time and are
likely to maintain their supremacy.
The stock market, the market for bonds. the do.
mand for railroad shares are fat, inefaby dull and
so likely to remain for the present 1t was reported
to-day there had been sale of Citizens Bank stock
at $3.50, and 100 shares Merchants Bank at lO3
There were some shares of the Bank of Louisiana
placed on the market, but limited at l72.
Pine knots, with turpentine and rosin, are looking
up. The Southern Oil Company is fixed institu-
ton. The pine forests, which have for fifty years
past been considered worthless are now the most
valuable of the public domain. Lard oil, whale oil
and sperm oil are no longer required for mechanical
purposes We have to record the sales of 100 shares
Southern Oil Company at 500, and 20 shares at the
same figure.
There appears to be an improved feeling towards
all bank shares and miscellaneous stocks. Messrs.
Pafrey & Co. will offer at public sale tomorrow the
25th inst, at the Arcade, bank stocks, railroad
shares and bonds. There may be chances for invest
ment.
General Statement of the affairs of the Crescent CITY
Bank on the 22d June 1862