New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1859-07-02
ges reans daily Crescent saturaav Borni July g. 1859
Neh Orleans 1ailp Crescent.
SATURDAY MORNING, JULY 2, 1859,
Ne@ 0rltans Nlonep MIarktt.
cnE.css1o,r1eE. No. 10 Camp street,

Friday Evening, July l. iss9. |
We have now entered the second month Of sum-
mer under as favorable prospects as of any preced
ing summer. The health Of the city continues good
money is easy of access for all legitimate purposes
The weather has been most proptious for the grow
ing crops Of cotton and sugar, on which hinges the
most momentous results for veal or for So far
the local money market ruled to-day, there was no
excitement, though there were several negotiations
Of paper maturing beyond January next at the rate
Of 10 get u annum $4,000 was placed through
one party at this rate which, with divers small
here and there, foot up $4,000 in the aggregate.
Take the market all in all, it is as easy as could be
expected, though most Of the principal dealers in
commercial paper have taken their departure The
offerings in bank for three days are rather larger
then for last week. but not beyond the ability of the
banks to grant Street rates all round are higher,
ranging from l, 1l@1a f2ct % month for good and
fair-that s for such paper appears frequently on
the street. There are, however, SO few signatures
coming under the classification of frst-class now
offered that we have concluded to omit figures. We
may, however, say that choice and selected names
can be placed at sA@9 yet, making the average of
the general run Of commercial signatures ruling at
10 52ct % annum, which is about the rate Of last
year at this time. The banks, however, are free in
As there cannot be much real business paper matur-
ing in August and September, the banks will either
have to accept of four months paper refrain from
large discounts In the meantime, there is no proba
bility Of tight money market.
The most of our banks are making up their semi
annual statements for their respective stockholders
They, one and all, show the strongest evidence of
successful seasons business, as will appear by the
statements below of the Southern Bank and the Bank
of New Orleans. Both show handsome surplus,
and after paying Get out of the earnings OF the
last six months, good amount goes to the surplus
or reserve fund. Up to the present time there have
been very few bills of exchange noted for non-accept
ance, or returned for non-payment. In fact, there
has been only bill returned to all our banks for
| non-acceptance. The charge and the talk that our
banks are likely to lose by exchange operations has
no proof whatever to entitle it to credence.
The Directors of the Union Bank to-day declared a
dividend of get. out of the earnings of the last
six months, payable and after the 10th inst. This
bank has dealt largely in exchange for the last eight
months and after paying the dividend will add 900
to its reserved fund surplus The suspended debts
Of the bank, with the exception of $4,000, cotton
bill of exchange has not increased dollar this year.
For this suspended exchange, so get % dollar can
be realized it. And SO, Notwithstanding all the
croakng and alarm the banks of our city will not
lose on the large cotton exchange transactions an
amount equivalent to half get. the gross capital
| There was very little done in exchange to-day.
| The counter rate for checks on New York was /
9ct. outside there were important sales. We note
one operation in sight drafts on New York at prem
sixty days sight at II dis. extreme rates ranging
from 1@1l, II and Il dis. In sterling we did not
learn of sale, and quotatoes range from l09@l09s
and ITO. Francs dull at 5.l5@5l0 on Paris direct.
! There are some movements in Stocks. We learn OF
sale of Pontchartran Railroad stock at IA, 200
shares of Jackson Railroad at Il; Is shares at 8,
and $4,000 mortgage bonds of Jackson Railroad at 50
and interest. There have been few other trans
actions on PIT. The interest of yet. for the last
half year on the Jackson Railroad mortgage bonds
was promptly paid to-day, as called for, by the
fduciary agent, the Citizens Bank
The transfer books of all the banks under dividend
have been closed until day of payment Of dividends.
| The Bank of New Orleans has commenced paying
the dividend due the 9th inst Stockholders can
call at and receive their dues. Our banks are
| all prompt as the days are long.