New Orleans daily crescent., 1859-11-24
Nen 0rleans 1ailp Grrstert.
THURSDAY MORNING. NOVEMBER "a, 1859.
Wtu Orltans 1luntu Hlarkd.

csr'esss o.ss. ss l. cs%s sss Z
There is no necessity for enlarged commcnts on
the general Money market. Money is under free
supply, and accessible to every one having any
thing o. passable nature to give for it. Sales Of
paper maturing next spring were effected at the
rate 81 ., sag9 Bet The calls or regular offerings
for discount at the banks were not large but still
equivalent to the income. There d no increase n
the specie reserves Of our banks, and no prospect
that exchange viii decline TO specie importing
rates. The many great exchange operations. and
the inclination for many transient parties to avail
themselves of the many advantages which our
great cotton market offers, brings forward many
operators and dealers who keep their counting
rooms in their hats and do their writing in their
bed rooms. Not only in the great staple does this
remark apply, but it will cover operators in ex-
change. And, somehow or another, many Of these
operators sell their drafts on New York or Phila-
depha, and with the proceeds 60 into market and
purchase foreign exchange, taking the very money
that our banks ought to use for our permanent
residents. We should like to know ii It is sound
policy for US to furnish the sinews Of exchange
dealings to foreign or nonresident agents, to enter
our market and compete with our permanent
dealers, who pay high taxes, and tend to the sup
port Of our city and State and who are to be found
here from the year in to the year out. We have
strong basis for these remarks, which we may have
occasion to diate on. But to cut long talk short
We desire to know how come to-day and go to-
morrow operators can go into some of our institu-
tlons on the street and move at the rate of hun
dred thousand dollars per day, without furnishing
city endorser.
The Exchange market to-day was generally
scuVe. Ihere were larger offerings, particularly
OF time bills, on New York. The counter rate for
checks on New York at all the banks was steady
at dis. Outside double Al commanded the same
rate, and good to fair commercial to dis. It is
an uphill work to realize higher figures. In time
bills we note the sales Of thirty days sight on New
York at 3-l6, and thirty days date at l-I6 dis.
Sixty days Sight was offered more freely, and some
of the banks purchased satisfactory bills at II to
1902 f9ct. dis. There were also some transactions
at 2t@2{ dis In Sterling there were several trans
| actions Of various grades and various nature. We
note operations in clear bills at 109 1904 to 1904
which makes the extreme range of clear bills from
l0Sa to 1904 to buyers, and remittance rates from
l093 to 1O9l. Bills with documents are in favor
and several transactions have been closed at 1881
| loss(8l0s3. 1t is hardly necessary to allude to
| anything of respectable standing below 1881 YET
there may be sacrifices which would not cover 1903
Francs are scarce. The purchases of cotton 70,
france are drawn, in greater part, on New York
where reimbursement is made by flying bill
across the Atlantic, at higher rate than rules il
this market. The only transactions in Francs to
day, that we heard Of, were on Paris direct, ii
| limit nd To
point 20 to 5.164, and on outside ports 5233 5.2s
to 5.20@5.1sa, just as fancy may dictate. s-
We did not learn of any movements in Stocks to
day. In Bonds there were sold or engaged $3.50, ,O0t
of Opelousas Railroad Construction at $50, whicl
was good investment, and shows the road an.
its managers has the confidence of the public; a
it is only over year ago that another railroad sol
similar bonds at "A and Is. We car recommen
the bonds of the Opelousas Railroad to our car
italists. The interest of get per annum is equiv.
lent to regular 10 get. per annum investmen
Moreover, if a capitalist should become alarmed g
an Aurora Borealis or q quasi earthquake (whic
are not very frequent in this attude), he can ope
his porte feuille, sell all out in few moments an
go on his way smiling, with his hand encompassin
his well filled breeches pocket. The Opelousa
Railroad bonds we consider fixed institution,
which there is no doubt.
Saturday Of erery wee commencing ,rith financial an
co'1ot year 9 The GUY on the lst day September lS5