New Orleans daily crescent., 1860-11-03
Ne6 Orleans 1aiIp Grestsat.
Aep 9rleans 1apntv gglarkst.
CRESCENT OFFICE, No, 70 Camp mr.

Frfisy Evening, Nov.2, Isst I
1t as difficult to-day to arrive at anything salts
factory in the general money and paper market.
The bank movements on the restrictive order.
Possibly it may be termed the conservative princi-
pie. Conse rvatism, however, does not work well |
at this time, md in scanning closely the course of
the market, We found that the discount brokers
were quiet don very little, though they had good
amounts of paper in their porte feaiies, but they
were merely inten led as furnishing an assortment
for buyers to select As there was no excitement
pereeivable, we can only remark that the money
market moved along to-day qaiety-no change |
from yesterday. 1t is manifest shat II we are to
have anything of a p.snic arising from political
causes, arrangements AID preparations have been
in progress for some weeks to meet Il. Our com
munty and its connections. are in excellent posi-
ton, with its cotton, sugar and vast quantities OF
grain. They will all be wanted, and will all be
paid for, let the Presidential uestfon go as it will,
They are more alarmed at the Worth than we are
here at the South. Threefourths of the cotton
crop are yet under control at tfe South, with the
/ entire crop OF sugar, and as we have beforc OBJ
| served, we are strong in resources Some parties
are it is true. restrained from contracting a5di-
\ tional obligations, which will prove beneficial as
| the season advances. There is no paper making
maturing next year, that is, twelve months com
naereial paper. Dor factors close on this point
and red lux is becoming obsolete for the nonce 1t
almost nugatory to give quotations of paper this
evening, and we omit rates. only remarking. that
there is no sale for long-dated paper that spring
paper is abundant. and when purchased it is at l2
@l5 aad IS get. Short loans, say ten to- twenty
days, rule at from s1te get. on good coaterals.
ha nj tlnrnn arA in toll 10
humor they are realizing at the rate of "a, 30 and
So 8ct. on paper, which may not pass the ordeal
of the bank parlor. Some call loans are daily
think borrowers will want to be called on at these
rates, but anticipate he call
The Exchange market, which we noticed in cur
last as declining, went still further down to-day
The counter rate at the banks was steady at from
t01l discount on New York. Outside double M
was sold at discount with other good sight selling
at Los dis. Sixty days sight ranged from 1902
2I get. discount down to 21@2l dis The transac-
tons however, at anything above get were
very light and trifing, SO that 1B02a and q dis
count for choice, good and moderate sixty days
sight can be called the extreme of the market.
Towards the close of business the offerings of sight
r on New York appeared to be on the increase, and
S14 were refused to be paid. Though there were
sales at both figures, yet they were refused by
: some buyers. At these rates we shall speedily be
s receiving gold from New York. to which may bs
q added that l05@l05a and 1861 for sterling wi,
help the gold onward hither.
The large supplies Of sterling, with daily depres
sing advices from York, have operated greatly
r. to- she disadvantage of drawers and sellers. The
'f market to-day fell of largely. Clear sterling wa:
: range from 1O65DlO7l. Document bills went dowl
W to 1051-plump down, as it were; run down it ma,
It, be said. We reduce our quotations down to l05
a- @lo6 and 1861 for signatures of standing. At til
- same time there were transactions at 1063 and
Il fraction over. In francs we only heard of som
M light movements at yesterdays raes-say 5.32 II
5.25.
r. Stocks are heavy. We note sales during IL
- week of 200 shares Union Bank at 95 60 shar
80 Bank Of New Orleans az 95A for paper I; SO shar
Sp Commercial Water-Works at Goa decline in I'll
sa' a' as well as other good stocks. In Bonds we ha,
to nothing to remark not even a sale to our inform
ton, and under the depressed state of finances \
: omit our usual weekly quotations.
There are some few sales of Scrip of our inst
Y. ance companies daily in our market at much low
prices than last year. Sixty cents u dollar
Y. average is the highest rate paid for 1852 exec
m. now and then for a round sum issued by favore
na ye companies.
The offerings of uncurrent money during h
week have been very moderate. Many Of Il
m banks in the South have been contracting for son
= weeks. Not, however, to extent sufficient
. reduce their circulation. There have not been
3 g. free issues from the banks in South Carolina N
Cd. Georgia for circulation in North Mississippi
. heretofore. The banks of New Orleans are Il
ket expanding their circulation. When money is +
aa quired to send into the country to advance
ton, gold and silver compose the currency. Bar
!. notes are forwarded, but our banks do discou
on the conditions that their notes shall be US,
rse away off in the interior. We do not do business
M nE, that wild cat manner in New Orleans Howext
it will be no news for US TO remark that the issu
Y. of the banks of New Orleans pass equivalent
DIS DIS specie in all places and at all points where
dis great Mississippi river runs, and where its branch
center.
l. The New York papers are still harping on t
pri 2f Southern banks. They can harp on and b1,
will away. 1t is expected that the banks of New Yo
city will be prepared to disgorge somewhe
y about million of dollars if not more, this mon
.W ss to come South to invest in cotton. 0ur ban
her were very chary to-day in their purchases of bill
sAs The banks in Mobile and South Alabama are
loaitiohf
gu There are very light issues of the Selma and Mob
MT,
sed banks in circulation in this section. The Comms
l. - cal Bank of Selma, Ala, of 900 capital
= from its statement and abstract shown us, in
- strong position. Our community has close bt
relations with many cities and towns in sor
sn' Alabama, and Selma is one of them; and it is W
4 to understand that the Commercial Bank of Sell
has the strongest kind Of an agency in this ei
though its notes are not redeemed here. 1t wor
be the worst policy for country bank to make
issues redeemable at any other place than its OF
counter.
In coin and bullion the movements this we
e show decline in Mexican dollars. Sales Of |;
receipts of dollars were made at 1863, with sol
few lots at I07, which is the current quotatit
is, Very little gold is coming in. The small reeeiI
from the interior are chiefly composed of it. 7
,sn movements in American silver are light-merely
counter business going on. The Branch Mint
doing very moderate business in the way of CO
airs age In land warrants there is very little dol
and We have no change to note in sales.
We append our usual weekly quotations of C
,sn and uncurrent bank notes, being those Of Jc