New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-10-25
Crrscrsr o,,Icx, No. 70 Camp stree,


CRESCENT Orvrcx No 10 Camp street, |
Monday Evening, oci n, Is69. |
The Money market moved along exceedingly
quiet to-day. The only transactions in long paper
we heard Of were three parcels maturing next
spring at the rate Of get for good factors paper.
The calls on the banks were moderate, which sig
nifes only the stated or regular calls not the |
amount Of income or the ability Of the banks o |
discount. The weather continues very favorable |
for the growing crops, or the gathering Of the
crops already reached maturity. With the recent
rainy, damp or wet weather, It is reasonable to
suppose that the lower bolls Of cotton which. on
many plantations gave dwarish appearance from
the dry weather in this State and some sections OF
Mississippi between the middle of August and the
middle of September, will. in the absence Of FROST
mature. Although our cotton factors are now
very fush yet with assumptions of more than
seven millions of dollars above the amount for this
time last year. and with cotton ruling on an aver
age 1c p ID less than last year. the natural conclu-
sons are that the general at large OF our
community should be carefully guarded. 1t is ma
nifest that the course of Exchange is decidedly
averse or against New Orleans from what causes,
why or wherefore, can only be conjectured, that
is, one of the whims and freaks of commerce and
nance yet it is not out Of place for US to remark
that large sums of money are required from week
to week to meet the demands Of payment towards
the hundreds and thousands of the descendants OF
Africa which are coming to aid in the development
of the resources of the great Southwest, more par
tcularly the rich and fertile tens of thousands OF
acres of rich lands of Louisiana and Mississippi as
rrrnII
this development the aid of the commission mer-
chants of our city is daily solicited, and we have
reason to believe that it is readily granted to all
having the appliances Of industry, care and honor
able interests to their credit.
The Exchange market opened this morning, that
Is, If there was any opening about it, in favor o
buyers. Though some drawers of Sterling held a
109l@l09E but if they took the drafts and put then
in their hat, or in the capacious reservoirs of som
bill brokers, they might not have realized NOR
than 109t@l09l, which are the highest figure
dealers are willing to pay. We, therefore, quot
clear bills from 109}@1093 with a fraction bein
paid by some dealers, and still higher figures fc
remittance. From all we could learn to-day, ther
were f25, 900 Sterling sold at 1921. Document bill
are firm for good and clean cotton but bills draw
on low qualities of cotton are considered pa,
passu with the diminished quality Of the cotton.
is manifest that our exchange is not likely to re
cede to figures to warrant the import Of gold froI
Europe. We quote document bills at 10Sl@10Si
and extreme figures from 10s@l09. There was
perfect monotony in Francs. We quote from 5.l7
@5.l32
In domestic funds, or for drafts on New Yorl
nlaJA oof hon
to-day. The counter rate for checks was prem
with an 9TH prem. being taken in large sums.
quote double AL sight drafts on New York at q
It'll prem, with other drawers holding at 10th |
an It'll, which are presumed to be good. We, hov
ever, have to quote sixty days sight at lt@l4 an
II dis. Special sales to-day of sixty days sight I
the extent of $4,000 were made at II discoun
and 100000 at the high figures of II dis.
The Stock market is inert and very quiet. I'll
of Gas Light Company at 1911; 20 shares Bank
New Orleans at 1921 There was some Bank
America offered, for which 1856 was refused. Thel
. were no movements in bonds. w.
There were many inquiries, how much do o,
insurance Offices lose by the extensive or great fl
of last night? Very little. Not over s35O,OOO
all. Though the fire covered a broad space, an
was extremely, extensively disastrous. in its cons
qences, yet the intrinsic value of the losses, whe
culled to dollars, was light. But dollars or all Il
insurance in the world will not compensate for Il
|, trouble, losses and Inconvenience that scores
families will be put to at this season OF the yea
In fact, there was more real misfortune and great
suffering occasioned by the fire of last night tina
the burning of half dozen warehouses of cote
and their contents.
POSITION OF THE BANKS OF NEW ORLEANS O
Saturday Of erery eek, commencing ih the financial
oonniercial OF The citu e lf dn LIZ