New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-22
Mfu Orlsars 9aiIp Grsstsnt.
FINANCIAL AND COMMERCIAL DEPARTMENT..
Mfu OrIsalrs Ulonsu Ularkst.
cxrssrsr oryrcK. No. 70 Camp sired,
Tna,a., n x.,sfs,z< Faf, n IA

Tuesday Evsaiag, FEB 81 1850
The large and active transactions Of yesterday
were followed to-day By lethargy and inactivity.
The weather had much to do with the general
movements Note-brokers, bill operators, Bears
and Bulls are something like other people: they
will not move in storm of rain, and with our side
walks partially covered over by water; therefore,
we have very little to say on the general money
market beyond the fact that the tendencies Of the
general market were in favor Of borrowers. The
calls for discounts on the banks discounting to-day
were large, and with those which had to anticipate
their regular day Tomorrow being close holi-
day. the offerings were equivalent to the income.
There are remarks made daily about the action of
the Bank of England raising the rate of interest
Well, suppose the rate is raised: what of that
The old fgrandmarm has long Stree host her In
fuence in the financial circles Of our city, and no
individual bank manager or director who holds any
regard for his own opinion would hazard it by
taking the action of the Bank of England as a
criterion. The Bank of England does not own nor
does it hold all the money in the commercial and
financial world, nor does it, in its Briareus folds,
encircle the trade of the world. It is therefore,
out of place for lenders capitalists in general to
be alInding to the Bank OF Engand's rate Of inter-
est, it has no terrors for the Crescent City.
The Exchange market moved along quietly to- T
day. The counter rate for checks on New York I
ranged at prem, though concessions were al
lowed in some instances yet at some Of the bank
the inquiry and purchases were active at prem
One year ago to-day the counter rate for New
York sight exchange was Oct. discount--a great
difference, and the causes of exchange being
against us at this time, may be well considered
subject Of reflection by our leading fnanciers.
Outside Of bank there were transactions at ll60b
prem. In time bills there was not much activity
We note transactions at II, ls@li for sixty days
sight of the best make. The buying rates of the
leading banks ruled at 1A@1s dis. We have,
therefore, to quote from IL l39ll discount for the
general run of sixty days. In consequence of the
advancing features in New York for sterling, cou-
pied with the advance in sight drawn here on New
York, the rates for sterling have materially I'M
proved. There were several transactions to-day,
that is, clear bills taken by dealers ut the adj
vanced figures Of I0sa@lOs5. This, 81 course,
sent remittance figures up to 10s4@l0a. At the
same time some of the largest operators were only
paying los, 1851, 10s4@l0ss. In document bills I
we have only to note some light movements at
1919, 1074G0l0s. Francs stiff On Paris direct 5.23s
5.1ss, making extreme rates from 5.25@5.l2a.
The Stock market was quiet to-day, We only |
heard of the sale of 20 shares Union Bank at 100 ;
so shares Crescent City Bank at the same figure,
and l09 offered for Southern Bank.
special meeting of the managers Of the Bank |
of Louisiana was held to-day, when the appoint |
ment for cashier was brought forward The ap-
pointment has fallen ON Mr.. f. ]. Tebault, the |
present cashier Of the Branch of the Citizens Bank
at Shreveport. Mr.. Tebanlt has been for many
years connected with banking and finance; was
agent and cashier for the Branch of the Canal Bank
at Donaldsonville for some years. and afterwards
was in the Union Bank Of our city. He, Of course,
carries into his new Office the benefit and advan-
tages OF many years experience
A paragraph or statement is going the rounds of
| many of the monetary articles of the papers-the
last we observed was in the New York Courier and
Enquirer--copying the statement of one OF orr
banks, and commenting on it very highly. The
statement SO copied applies to the Louisiana State
| Bank of this city, not the Louisiana Bank. There
| is no bank known as the Louisiana Bank but there
is the Bank of Louisiana otherwise called the
! Ajax. Very often the two banks are confounded.
The figures and statements which we published
being highly applanded, it is not out of place to
mark that both of the banks can be commended
and regarded with the same favor.
POSITION or THE B4NES or NEH 0RLElNS ON