New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-12-01
Ue6 0rleans 1ailp Crescent.
5ea 0rIeans dfluatg alarAtt.
caHs0sHT , 2yyleI, 10; % Comp . I, it,

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CsEsosST oryloz, No. 10 Camp .trsst, 1
Friday Evening, nov. 20, 1870. I
Although in some respects, to-day has been one
Of the most blue bluest Of the season. yet there
was faltering in the payments. Many parties
have been preparing for the last MONTH and some
parties who have large payments to make, are
now looking thirty days ahead, preparing, that IS
for the future. In the meantime, are we to have
any rebound 1t is well enough to let our readers
and the public in general know that our banks
all prepared. 1t is about time for persons Of intel
ligence to relieve their minds of doubt regarding
moneyed institutions. New Orleans and Loui-
siana are to have and maintain standard, and we
may as well proclaim it first as last, that let the
worst come to the worst, the banks Of New Orleans
will not falter Therefore, we have only to suggest
to tinid parties, do not be alarmed, New Orleans
will go through the impending crisis. Old nervous
gentlemen can go on and buy paper at 305 get.
per month; in fact, they do not require informa-
ton from us to move ahead. The great world ia
not coming to stand still, even if the Bank Of
England advances the rate of interest to or even
10 59ct.-the latter figure will probably be pro-
| claimed before the year closes.
1t is hardly necessary to give any quotations for
paper. We did not meet with buyer or dealer
to-day that felt disposed to say what offers had
been rendered; but T2ct. per month good col
| laterals was offered yesterday and to-day. What
we call good collaterals at this time are city obi
cations. We are however, that is, the community,
drifting to that point which will inform us how
| little money we can get along with.
The grand fulcrum of our trade Ghe Exchange
rnarkeD was exercised severely to-day. The mar
ket opened with great suggishness, and moved
along till New York sight drafts were offered at II
|
for checks ranged from 10s dis, and ! towards
the close Of business. There were some very fair
and roHnd transactions, say $4,000, $4,000 and
S25 coo Al sight at / discount. There other
transactions and sales at l dis. Three and five
days sight 1l2 dis. Time bills it is useless to re-
mark on, more than to say that good sixty days
cannot be sold better than SLOT get. discount.
Foreign Exchange also took another downward
move to-day. Sterling with documents was placed
or sold at 95. We quote from that to 9s, and dull
market. Clear bills were taken at 1Oo@lo0a. We
quote clear from 99@l001-a material decline. In
francs something of corresponding decline and
feeling has been brought We quote $50,
and for the best on Paris direct 5.60@5.55. The
market closing very weak and in favor of buyers.
There have been some forced sales of few
shares of bank stock at rather low figures. One
|
and some few shares of the free banks have
changed hands at low rates Sixty shares of the
Bank of Louisiana were reported as having beer
sold on PIT.
There were no mails received to-day, and we are
without any information from the North
1t is however,, matter of very little Importance
8 to have regular communication with the Northern
States, and the general money writers can CEASE
their TRADES against the South.
l 1t is hardly necessary to allude to uncurren
money that is, the issues Of distant banks. Tho
only bank notes purchased at anything like regular
discounts are the issues of the banks of Alabama
those of Mobile commanding the highest rates
those of the interior do not stand SO high. TIL,
issues Of the banks of Kentucky taken at some
what increased rates of discount, as also those 0
the banks of Missouri. There is sale for Illinois
: Wisconsin or Iowa currency. Indiana is littl
/ better, and Ohio is $3.50. Brokers do not appea
/ inclined to have much to do with any of the Nortl
western States.
\ telegraphic dispatch was received on the 26tl
TO stating that all the banks in Memphis had saspen
Or ed coin payments. This was confirmed by IL
agent of some of the Tennessee banks in this cit.
: Since then the agent in question has informed |
refused coin for its issues 1T will be well fc
i parties sending Geographic dispatches during th
present eyentiui crisis TO be certain they are RICH
There have been some receipts of Mexican do
i, lars, which have been taken at l03@el04 America
silver moves along as usual, at from 99@a95-n
m great quantity offering.
70 Land warrants are dull, and no prospect for q
e Improvement
It is useless to give any quotation of distant ban
= notes this week, and they arc omitted.