New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-05-17
gsb 0rlsans 9aig Grsseert.
FINANCIAL AND COMMERCIAL DgpaRTmrNT.
Hin NrIsans Mlollsu MIarkst.

IS atgs
CsEsoKsr orr1cE. No. 70 caap street, |
Wednesday Evening May l6, 1850 |
The tenor OF the money market to-day was
strongly in favor Of arelaxation from the course
which has attended the movements for some weeks
past. The banks were fash this morning. The
Canal Bank, the Ajax, the State Bank and the Cit
zens' were in most excellent strength and position.
The banks working under the Iron Law were also, |
as usual, in good position The croakers, the bug
a-boos, cannot make a raise they are hos ds |
co1bea for this season; they may as well pack up
Their buds and leave by the next clippersteamer
up the Mississippi river, or by the jackson Rail
road train Tomorrow morning. THERE'S no room |
now for the panic makers on our flags, even with
the broad space allowed for followers thereof |
There was nothing doing through the note and dis
count brokers to-day; In fact, majority of the |
note and bill brokers appeared to be enjoying
their dignified leisure. We have, therefore, no
change to note whatever in the street rates. and
will only add that all persons wanting to raise
few thousands can do SO, If they have anything Of
the least pretensons to solyency and credit 10 oer
fort Very often bank Presidents and Cashiers
when calmly and phiiosophicaliy studying over
their figures and their position, are waited upon BY
parties with drafts, drawn, no doubt, by good and
solvent planters factors payable at some speci-
fed time, say or IL months, and i'll others paya-
BILE out of the proceeds or on the sale of crops re-
marking that they would like to have the money
for sneh drafts, just as though our banks were
made to take all the issues Of Messrs. Tom, Dick,
Harry 4 Co. In fact, it Is amusing to an old fogy
to witness the GOODNESS and assurance with which
Mr.. Brown, the importer and dealer in horses, or
Mr.. Smith, the operator in horned cattle or other
stock, walks into our banks and asks the Cashier
President to give the gold for the piece OF paper
rendered, which may have locality and may not,
and made, undoubtedly. by q good man in the
country, who will pay when his crop Is sold, but
who is generally regardless of those square pieces
of paper (bank noticeso which often, very often,
convey or harbor terrors that could unsettle the
mind Of the distinguished Gentleman in Black. =
| Therefore, maledctions and reproaches are part
and parcel Of the compensation Of bank managers.
| Under the impression that the slight stringency
| in our money market, which has been the theme Of
i comment for few weeks past, is passing rapidly
/ of-in fact, already gone into oblivion-we con-
\ graduate our general commercial community on
the very strong attitude which it holds at this time.
For weeks on weeks have we been RECALLED with
losses on cotton, and estimate the advances made
by factors to their constituents, and then reflect
the pressure to follow such and such arrivals from
Europe The Bears have been indulging in
most prolific harvest of evils and lesses. True
there have been losses on shipments Of low quail
ties of cotton. losses ON tobacco, losses on es
4 change, and there have been some descriptions i
commercial and financial circles; but they form
| very diminutive and very trifing per centage
almost too insignificant to be entertained, whel
placed in the scale of receipts, sales and returns
i over t,co million one hundred thousand bales o
cotton for this current season, ard we are sup
ported in our views by the confidence and faitl
n which have governed our bank operators and deal
ers in the great and fundamental basis of our com
; merce-exchange who have from day to day
week on week, month after month, moved onwart
in their Investments and dealings, regardless Of tn
hue and cry Of agitators and croakers, implied.
confirming the solidity and strength Of the grea
! cotton exchange. We are knowing to tile fac
that two or three private dealers, and three fou
of our banks, have faltered in their exchang
/ transactions since the commencement of the pre-
ent season. This il the harbinger. and augurs hal
PLY for the future welfare and prosperity of th
! gigantic trade of the Crescent City.
!. We have very little to say about the Exchane
Z market. The demand for checks at the counter
the banks was very feeble at get; in fact, t9c
J is a mere nominal rate. Outside there was yer
little doing, and the banks ana dealers were on
? allowing yet. prem. Tor good anu Al sight drait
j No change IN time bills. we quote sixty DAY
sight, AL 4@s dis; good, l, it9l4 fair, 1901
z dis. In Sterling we note nigh rates being askes
,varo ,,ar,, fa,y document Hills ALTERING In day W
meio WY ieM uoou'ito"' pti' one.i's W 10. "
: ,,pnta from, lOS l6Hl0s2 nm ~ Ina There ,yat
: i"9 ~ ~ n,
| some small sums of francs taken at OH 46I5.l
, .s5=.g., -,.<a. - ,..A,
extreme rates rullng from 5.lo0eo.u1-vely Hlt
.ro;,,,, l.a,ao fc,, +l,, I,,,n;,a III
prouuce hoM SoiHS ichos III wig ltMple. -
| TTnian Rank draws nm Iopdnn and Paris Mt fro
SiA ~ ' - '-9' ~ zs
one to sixty days sight in sums to suit purchaser
-, !
and, 1t IS supposed at rates TO suit also. Inc
zf4 a. .i, II. ~ i, \ - ~ o.. ,o r, !, ,,,n n
urttts, as Nv eli ts AL pahn ais, aie lei
tbon IN. he Iuorino about gold and silver and F,
enas.i ~ ~ ia5saAi's s 'e 5 N - = -
q are all checks of all our banks negotiable nj
49,
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