New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-03-24


figures, as follows:
Al four 10 eight months ,......,...., a 81. BET
AZ and good eight, twelve and fifteen
Mortgage ieSs, pa PspsI highest grades. ~ &c.
Second class mortgage sscarites....I0 SIS pet
OF Al first class very little offering-of 10G12
months very small sums offering, but ranges at
about 8. There is not one piece Of paper in ten
offered through brokers than can be realized on be-
low Q. In fact, we have now regular and steady
10 and IL get. money market. The tonsoriai gen
tlemen must not be overlooked. They are doing
very we'll and find use for all their surplus funds at
from l5@1s and "a get. per annum for long and
short paper. The general supply of money is not
free, and though the market has been hardening
all the week, it will in the end prove beneficial
there is proneness to go in debt too fast under
cheap credit.
The Exchange market was on the $3.50 order to-
day. The counter rate at the banks for checks on
NewYork was steady at prem. Outside, though
there very little done, the rates for sight drafts
on Boston and New York ranged at from par@lth
prem. In time bills there very little done, from
the fact that there were very few offerings. We
quote Al sixty days sight at from l@1t and Ii &c.
dis; good to fair Is@la and Il discount. Sterling
stiffened to-day There were sales Of clear bills at
losa@1osf /; the dealers buying rates were from
I0Si@I08s and fraction over for something of the
very incest order. In bank bills there were sales
of some thousands of pounds at 100. In small sums
100 is the current rate, though 1904 has been paid
for very small sums on the retail order. We quote
extreme rates for clear from 1854 up to 1857 In
document bills the transactions were limited. We
quote 1914 @I07l and los. Though there have been
sales at 1914 the figure is obsolete, unless for some
thing ruling very low. Very little done in francs
to-day. Bank rate on Paris direct 5.I6}@5.l5.
Outside rates range from 5.232@5.ls3 and dull.
The general stock market has been dull. Though
there are very few shares offering on the market,
yet it is dull and heavy. There were sales to-day
Of Is shares Union Bank at fraction below par;
20 shares of Crescent City Bank at 90. There are
very few shares offering the market Of any kind.
Bonds are not to be found hawking from day to
day. We note the sale $50 ,OC0 Mortgage Construc-
ton Bonds, opelousas Railroad s 59 cent, at the
rate OF so. These were taken by NewYork CAPT
talist Also $4,000 for local account at a fraction
lower Gas Light Company has advanced another
peg It will continue to advance, we expect, until
it reaches two for one. A sale was made to-day
within the range Of 1888. 1t is hardly necessary to
value of bank shares and other securities. We,
therefore, omit for the nonce our weekly table of
quotations.
In the uncurrent money market there has been
falling off in the amount OF offerings; neyerthe-
less we have no change to note in the rates of dis
count 1t is plainly perceiyable that the great
West and Northwest are to have an abundance of
irredeemable issues, or rather of issues based on
stocks and bonds, which have only an ordinary
standing in financial circles yet they may be all
good, and would, il associated with laws and sta
tutes requiring a basis of one-third coin, be con-
sidered as worthy of the highest credit It is very
strange; in fact, we cannot understand that the
Legislatures of the several States, when enacting
laws in regard to banks and banking should not
regard the banking system, as adopted IN Lou-
siana, as model. It has been tried and not found
wanting, particularly in regard to the four old
chartered banks. We continue to receive from
Louisville, St. Louis and other centralites in the
West reports Of a scarcity Of money. In Louisville
the stringeney is tolerably severe, affecting the
price of provisions in that and the surrounding
markets. In St. Louis there is good deal said
about currency. Before there can be any stability
in financial affairs St. Louis, the question of reg
:, = ~, ....,, ~ Ntiosonr ,nnst no sattIed
u,a1hs sne $50; aasIa.ra az INV otber con
"i1n ~ - 49, IS han,,a,lo f,,nds \ vii, ~
IN. - cn,roncv eon;va,ent 10 coin IF
.rno " ,,o,,Ia or could he made m mn.
sA'sso1i, :,,.s.,.at ~ han1;na laws of IAN.
~, .ao 5;,u ,rcan;ye svstom Of
sana' my .,s ,oaa - so,na ND ,rho1oso,no
pahA'ls 'A'' "e''N ~ =
e'. e....,
J.. ,,,ortb,v statement comnr;sng
"oiio ~, o;ron,o,;on coin and oxcb.nae
eniss ,.s'S rha,o hos heen an immense amopnt If
1l''.u.,s' !, M;s.onri within M pazt three
so.a 10 rovarnmsnt acconnt--suficientt to form
y'ais -, N tbo hanls IN Tho STATE II tber
spss.s -, t,e svstam adonted r. Ton;s;.
WIZ nenara,ly sneaking II is a yerv small bnsi.
,aa,,, Jaw s,aall0for the mother banl, to
80 - raoeiys tho notes of its branches in the
a,.so - traae and still smaller for one branch
= raf,sa M note If ! sister branch Of course,
rsha collac.on of notes ia ATTEMPTED, to push or
crowd arv narticular branch, the game could be
oas;,,, obocled When the United States Bank is
- -. ,otes navable at any particular branch