New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-03-28
0th 0rleans 9ailp Grtsttut.
FINANCIAL lsD COMMERCIAL DEPARTMENT,
Ntiu Nrltans NloIltg Hlarhst.
enxsczsr orreE. e: 70 Camp .tr.st.

Tnssfay ESeasng March q. Isl.
The general tener Of the money market to-day
presented nothing worthy Of remark. The calls or
offerings for discounts were, In financial phrase,
heavy. The banks, one and all, confne their ope-
rations within the daily movement, though two or
three OF them do increase their dead weight by dis
counting long paper. There are no loans whatever
granted that is, not beyond $40 900 per week; all
Is confined to discounts. On the street there were
some movements to-day, resulting in sales Of good
paper at 10 get, some at IL, and some at higher
figure. There were two or three small operations
at sact but get. ID 70 scarce we might as well
say at once that the general money market Is q
regular 10 and 70 get. fact. It Is very fortunate
that our banks are controlled By Hxed statutes.
The banks could now lend ont and discount fully.
tIo0000Oo at this time, were they allowed TO snb-
NIT to all demands bnt being restrained, and The
specie reserves much less than last year at this
time. it is manifest that any discounting beyond
their income is for the present, beyond their con-
sideration. There are good many desires for
loans and DISCOUNTS for the purpose Of disbursing
or spending the same in travelling pursuits md
pleasure the coming summer. There are about $40, :
600 900 in cotton and tobacco to be sold before the
season closes. This snm ought to keep the general
money market Ut low rates and figures but indi-
cations that there will be no restraint on the
hardening tendencies which are developing daily.
With the same amount Of coin in vault that last
year graced the shelves Of the vaults of the several
banks, NE might have the pleasure Of foretelng at
this time an easy and cheap monetary state for
the summer.
The Exchange opened with downward ten
dency this morning, and ruled so through the day.
Though the counter rate for checks on New York
at the banks was steady at prem, the sales were
limited. Outside there were large sales Of double
Al at !@a prem; good at par@l-le. Three days
sight WAS sold at par. In Time Bills there were
sales of sixty days sight at l@1. dis; a good
amount at IL dis, and other transactions at from
ls91a dis; ten days sight was sold at dis steri-
ing fell off, Large transactions in Clear Bills were
made at 1881; other sales at 10ss@10s4, and still
sales at 10s Gle. Remittance rates ranged from
less@1osS, and bank drafts sold at log. Docu-
ment Bills were dull and inactive, with downward
feeling prevailing Of very strong kind We quote
from 1o7l@1o74, lo7a@lo7a; round amount of
tip-top, so called was placed at 1915. We did not
learn OF any movements In Francs. The banks sell
sixty days sight Paris direct, over the counter,
at 5.I6{ 015.l5. 8 ss sj8 n s5s
The most important transaction In the Stock line
was closed to-day. The Crescent Mutual Insurance
Company sold 500 shares Gaslight Company stock
at the advanced price Of 1856, or said to be the
seller. There was also another 100 shares sold at
1s5 nett The impression prevails, and it Ia so
announced (not officially, that the stock Of this
Company will be increased in May next 20 get
There was sale Of Bank Of Louisiana stock at 49,
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