New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-04-08

| 1eh 0rleans 1ailp Crestent.
FRIDAY MORNING. APRIL g. 1889.
Nfm 0rltans Hluntu Markst.
cRrscasr orreE, No. 70 Camp stree.

CSS*~ O~~~'st~ cSs~$S& c3ysN%V<$s
CREscaSr orrcE, No. 10 Camp street.
Thur,day Evening. April I. 1859. !
There was very little disposition evnced to-day for
large transactions. We only heard Of some $4,000
one and two years mortgage paper being negotiated
at the reduced rate of n yet. The fire demon ap-
peared to be the subject Of comment particularly
about noon it was announced that the Montgomery
warehouses, situated on Front Levee, were on fire.
They were filled With bagging and rope and other
Western products This intelligence was followed
by alarm of fire on board the ship Leona, which
was cleared yesterday for Liverpool with IA bales
cotton We may conclude that the fire demon has
full sway among u.s. Folks may talk about being in
sured but Of what avail is insurance if such devasta
ton we have witnessed during the past two weeks
is followed by devastation? We remarked in our is
Monday last that the destructive element, fire,
regarded not the resources Of insurance companies,
and we may now add, it mocks the efforts of man.
Thus far the losses have fallen companies abund
antly able to pay the usual notice. The resources
Of the several associations ample, But the gene
raj question is, "when these large confagrations
to come to an end?" Fifty to sixty thousand bales
Of cotton burned up would restrict dividends for
three or four years but with corresponding losses
marine and river risks, our community might be
placed in an unpleasant dilemma. Were we not in
the right when we questioned few days since
the policy of allowing cotton to accumulate in the
presses and warehouses, with other produce all held
for rise or more favorable position of markets?
We often hear the remarks made by individuals, 81
am well insured, and in good ofice?'' Will these
would-be-monopoists spectators and traders figure
up, call into service some industry, and inform Us
how many such disasters or fires as we have had
within the past week will it take to send into auida
ton insolvency the best insurance Office that ever
existed even those with their Haunting figures of ten
millions of paid up capital?
Under the large transactions in the great staple
| Tuesday and Wednesday there was more exchange
offering to-day, and rates ruled in favor of buyers.
Most Of the banks reduced their selling figures for
checks over the counter on New York to an prem,
which the closing price to-day. Outside rates,
| double AL, ruled at par@l-l6 prem The buying
rates at the banks was par. Five days sight par@I
| dis Remitters who only want few thousands or q
| few hundreds cannot expect to purchase at these
| figures. Sixty days sight we quote at 141t for
choice; ll@l4 for good II, 1s@l4 for good to fair.
At the same time we learn of sales at Il dis Sterling
was weaker, though there were buyers of frst-chop
at l0s4@l09s, at which figures there were several
thousands of pounds taken. For remittance we quote
operations at 1899 and fraction In document
bills there were sales at 10s3 for good spinners'
names we quote the market from 1854, 1881 @lOs2
| with a willingness on the part of dealers to take
freely if the produce has not been purchased at too
high fgures.F We qnote clear bills from l09@lO9;
dealers rates, and bills Of ading above. In france
there is more inquiry, and note sale of $50 0O(
on Paris at 5l5. We quote the range of the market
from $40, 5.15@5.l32-the latter an exceptional
| rate.
| The Stock and Bond market was dull to-day Bank
shares, in fact all shares have attained their maxi
| num- unless some advance should be forced on the
stock of free banks. They may 60 higher, but it is
| not expected that shares of the old banks can &c
much higher. The scrip market is operated on by
the late fires There are, however, buyers, and no
lack of them at some price another.
The Western money markets at various periods
have more or less influence in our market on ex-
change. During the month of March the demand fol
NewY funds has been large, and mostly for West
ern account From all information that we car
gather, it appears the Valley Bank of Ohio has con
siderable influence in Third street. Cincinnati as ap
pears by the following from the Gazette of that cit
Of the I'd inst:
The money market continues in moderately cas-,
condition, and the tendency still appears to be in tn
direction of plentiful supply of capital. Loan
@12 get.
Eastern Exchange continues in full supply ant
rates easier Dealers did not pay over for pri
vate checks and they were able to buy Kentuck,
prem, but some business was done at +. The Ohio
Valley Bank, in an advertisement published il
another place, announces q slight change in its pol
icy. 1t has lately confined its sales of Exchange t.
regular customers charging prem; but hereafter il
proposes to charge PREM. and draw for all who may
apply except dealers the object being to supply thu
legitimate mercantile demand only, It will continu.
to take deposit all paper bankahle in this city at
checks drawn against deposits will be received fo
Exchange, but in dealing with parties whose accounts
kept elsewhere, the notes Of two three of thu
most remote Kentucky banks and branches of th,
Missouri banks will be refused. This proposed dis
elimination is step in the right direction and alto
gether, the movement is pretty cook stroke o
policy.
Nothing doing in New Orleans Exchange. Gold
dull at PREM buying, and prem. selling. w
quote:
Phi Fsi deTa p pfsm
anew 1s,s"9 Gold prem prem
The market for the leading articles of produce an
provisions continue depressed, and it is difficult t
give reliable quotations. Good brands of Mess Por
were offered at SIT, and country-cured Bulk Meat a
55@71c. for Shoulders and Sides. Flour was pres
sing at IS so for superfine. Wheat dull and declir
ing. Corn steady at 7S(179c. Sugar and molasse
!, steady, with moderate demand. Coffee firm, wit
sales of 300 bags at l2@l23c.
We observe that gold is quoted as dull at go
prem, but are not informed of what the standar
currency is composed of.
Here in Louisiana and New Orleans we conside
gold only as the standard and all bank paper mus
be considered its equivalent In fact, a five doa
note of any bank located out of the limits of Ne,
Orleans would not purchase solitary meal in on
markets. But all distant bank notes can be turne
into gold on Camp street at a very moderate d
count. The currency of New Orleans and Louisian
is gold and silver or equivalent, the equivalent bein
understood to be of the various banks located in IL
city.
; Nebit@ Of the Hlarktts.
CRESCENT OFFICE No. 10 Camp street,
riday Morning, April S, 1853.