New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-01-26
Neh Orlfans 1ailp Crescent.
FINANCIAL AVID COMMERCIAL DEPARTMENT,
gsig @rleaas Mloaeg Nlarkst.


The general Money market to-day moved along
quietly This cells the banks for discounts were
in the aggregate large beyond the income. There
was also considerable exchange offering, and
though the banks are all flush the surplus over the
requirements Of law are largely below the same
time last year, consequently, it may be well to
consider whether Is get. over last year will not be
fair limit to carry through in the general move
ments of the trade for the season. There is not
sufficient coin in the vaults Of our banks to allow
the supposition that we shall have cheap money
this season. The course of exchange does not war
rant that it win pay the banks to order coin from
New York, nor Is there any probability that Mr.
Bull will send his soveregns hither to invest in cot.
ton. He will send all the oddg and ends of the
cast-of fabrics Of Manchester Birmingham, York
shire and Sheffield, with the pretty zinglams ana
laees Of Scotland, the linens and lawns Or Ireland
TO pay for cotton. Though the merchandise win
not come direct to the Crescent City or the South
the product or the great staple Of the South win
have to foot the bills
The Exchange market to-day was neither active
nor inactive. The counter rate for checks on New
York at the banks ruled at dis. Outside there
were sales at 5-l6@s to get dis. Five days sight
s@} dis; ten days sight 29E dis; thirty days sight
| nominal; sixty days sight good commercial drafts
| u, 2l@2a dis, and medium bills 2f@2a. We did
not learn of large sums being offered, but the sup
ply IS above the demand, decided preference
being given to sight and short sight drafts. When
abiding to short sight, mean five and ten to ff
teen days sight. Double al drawers held their
| sixty days at HOLT dis, or rather seventy days
| date In sterling We note sales of clear bills at
lo75@i073 up to 1915, lo7l@lo7s dealers buying
rates rule from 107a@lO7s. Document bills ruled
| at l06}@l07t, and sale was made at fraction
over In fact, in many transactions Of bills of lad
ing drafts caprice and whims rules the operations
or the hour, or perhaps the minute when closely
scrutinized. We have to quote extreme range Of
document sterling from 1868, 107@Io7s. Francs
were $3.50, which means buyers are rot anxious to
buy, nor are drawers sellers so very DESTROYS Of
making sales at the current rates. We, however
note sales Of $4,000, comprising two bills or lots,
at 5.264 making extreme rates rule from !j.35n
5.264, though it is difficult to obtain good bills at
the outside figure, 5.35 There is no prospect that
exchange will decline to admit of importations of
coin. Cotton continues to advance, particularly
for clean kinds, all that will class above Middng
In Stocks there was very little transpircd to-day
The only sale to our knowledge was so shares Bank
of New Orleans at &c. and lot of Mechanics, and
Traders Bank (nearly 300 shares) at prices not
made known. There was a sale of s3l 600 Scrip of
Crescent Mutual Insurance Company at ST. of which
$685. 900 of the year 1s5S-a toerable tall price
We hope those New York operators who were SO
very sensitive about one of the Wall street COM
panies about twenty months ago, will make note
| of it.
| The failure of a firm in New York in November
last, largely connected with the New Orleans trade
| placed hors dt combat bills of exchange to the
amount of $1,000 drawn in this city for pur-
| chases Of cotton. What amount of purchases were
made in other places, we are not informed, but if
the same course was pursued, the parties must
have obtained possession of tolerable good
amount Of the staple The impression prevails
that the house in New York-the drawees Of the
bills made here-lost largely in 1857 and that the
effects are now being realized. We alluded at the
| time that the cotton on which the exchange was
made was attached here, the vessels on board OF
which it was shipped being in port at the time the
| bills were noted in New York, but was released
under stipulations between the parties interested
| We find the following notice in the Liverpool
Daily Post, given by the purchaser of the cotton
and the drawer of the bills who departed for Liy-
erpool Immediately on the receipt of the unfortu-
nate issue of his bills. What the sequel will be is
difficult to say. Our private correspondence indi
Gates long and protracted suit will follow, and if
it goes into Chaneery in England, how long it may
be kept there is question in the womb of time
.N. UNPAID. 1s q
New Orleans via:
T, ia6 bales per Georgiana-
4l6 bales per Eagle.
S11 baIes Per Chicago.
Marks and numbers per respective Of lning being The
only shipments made by ie vessels hereby
give notice that have claim coons purchase
money nf the same aud all persons negotiating or
making any advances on the said hills Of ladng
JOHN d. OAkFORD OF New Orleans
Dated, Liverpool, 26li December, 1853