New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-12-13
Nen Orleans 1ailg Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
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Wedaesass Evening Yen d s Gea i u, 70
The general money market this morning opened
under the influence Of the very favorable inteni-
gence from Europe. A response, though only par
tai, has been received 10 the panic accounts, az
they are called, which went cut on the 18th nit
Mr.. Bull is growing wise be got caught ia panic
in 1857, which had rs origin in New York, and pos
sibly he does not intend to be bamboozIed agais
by TIE fiery accounts from our heretofore greet
metropolis, New YorR, and allow panic Of fuss
and feathers. True, tie secession movements nav
astouno our transatlantic cousins or uncIes, per-
haps auats, but we have the first sebound, and cot
ton will control the future.
The reduction Of the rata of interest by the Bank
Of England to s get. was not expected, yet there
we're causes for it. Dear money and high prices Of
interest would enhance the price of bread On the
price Of bresd-the facilities for obtaiing it at low
prices-yery muoh depends tie prosperity Of Eng
land. Therefore, if TIE good old lady in Thread
needle street (Which bythe-bye, does rot hold all
the gold in Great Bfitain enhances the rate Of in
terest from week to week, the price cg bread ia
cor-espondngIy enhanced !: therefore, it IS not for
the welfare or safety of England for money to rule
at dear prices throughout the realm. On the spur
OF the moment, as itwere, our market, particularly
in exchange, was somewhat excited. Sellers and
drawers OF bills enhanced their pretensioas and
rates 80 rapidly TO cause the old fogY operators
to halt and inquire what it was all about. Asking
| 203 Sct more for sterling exchange to-day than
on yesterday, was rather too much on the railroad
| or 2:a0 speed for dealers to comprehend. True,
the Europa brings some gold, ethe first nstalsment
from London) but whether the amount is only
| sufficient for only aash in the pan, cannot be
fully assertained for some days. However there
is doubt but what the eliminating point, az re-
CARDS depression, has been reached, and that the
future is all encouraging. 1t will be well to regard
| the favorable intelligence with GOODNESS and com
posuFe that it is of the most encouraging chaFac-
ter, is admitted by all the Bulls and Bears on cur
| flags.
The money market moved along very quietly to-
| day. The movements of the banks were chiefly
confined to renewals, though there were some lew
new discounts granted.
A special meeting of the Board of Directors Of
| the Bank of Louisiana was held this morning to
take into consideration, it is believed, the wants
| and position of an eminent commercial house; but
what the result was did not learn as, of course
an outsider like ourselves Is not admitted into the
action and secrets of the bank parlor. The old
Ajax Is doing all it to relieve the pressure and
the mandators say they dispense their loans and
| discounts equally and impartially with all their
patrons and customers, and very often act towards
| outsiders with the same degree of liberalty
| The annual meeting of stockholders of the South
ern Bank was held to-day for the election of
Directors to serve the ensuing year. The following
| gentlemen were returned:
| Mr.. Frederick Rodewald merchant
| Mr.. Aristide Miltenberger, cotton and sugar
| factor.
| Mr.. G. a. Kernion, of Roman & Kernion, sugar
/ Mr.. w. C. G. Claiborne capitalist
Mr.. Gustave Miltenberger, of A. Miltenberger
& Co.
Mr.. Edmond soniat, planter.
1t is hardly necessary to remark that the bank is
moving on prosperousy, and is one of the stronges
Of the strong.
The Exchange market opened this morning
under some little excitement, with high pretansion
on the part of drawers and sellers. The counte
rate for checks at the banks on New York ruled a
discount Double Al drawers sold outside freel,
, at discount, while some of the banks were pick
r ing up good sight at 1@l Yet. discount. Their,
were heavy transactions at dis. In time bill
there were some sales at 81 discount for double AL
which will do very well for those who do not wan
to anticipate. As for ordinary commercial bills
BILE adviees, went up, but did not stay up. There
was nothing to support it only the Geographic dis
patches that gold was coming but no one coult
tell how much gold, whether fl0 900, fl00,O00 Oh
whether more than pocket breeches full, such as
our old friends, Messieurs Biddle & Jaudon talked
of in days past. We note sales of clear sterling to
day at 95D96, and remittance at 49, Documen
bills ruled at 10000. There was very little done
over 95G19G for clear; though the feeling was very
strong for a material advance, large buyers coult
not come up to the views of sellers or would-bt
sellers.
We want to see the gold from Threadneedlt
street, hear Of its being landed this side witt
some thousands being delivered here in New Or
leans, before sterling can be advanced to 100 ant
above.
In francs there were sales at 5.so-the extreme
range of the market being from 600@5 So to 5.st
for SIXTY days on Paris direct.