New Orleans daily crescent., 1860-06-22
crrscssz o.y,es. 70. % Camp street.; 4, A..

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The Money market u rather tight than other
wise. True, there is fair supply Of capital but it
Is under restrictions, and cannot be embraced In
our remarks because II is to be invested in certain
grades of paper, which are not on the market, nor
will they be for some weeks. The calls for dis
counts to-day down at General Modsration's were
about equal to the income, and the full income Was
disbursed. This is about as mneh a. can reasona-
bly, be expected. In fact, as we have from time to
time remarked for several weeks past, the banks I
could only rediscount their daily income from day
to-day. This view has been confirmed. Yesterday |
at one Of the old chartered banks down town the |
offerings were double the income. 1t may well be |
exclaimed, g how ia this that at the close Of the
largest receipts Of staple product that there
should be such large calls for money, or that the
specie basis Of banks should be falling down to
SIo,oeo,ooO II Ia safe to assume that over $l0,-
0e0oOo nave been taken from this city this spring.
which will be invested North disbursed there and
In Europe. When one Individual disburses. a. re-
ports say, nearly one hundred thousand dollars
away down East, In the StAte cf Maine. for the
building Of q villa mansion, though iswas accu-
mulated in this good city of ours at . dime rate,
It is no wonder to exclaim, where does the money
go to?n which, If invested in our midst, would
make New Orleans one Of the greatest cities ON
this continent Laborers, mechanics and artisans
of every kind and grade, come here and obtain en-
orTnous wages, from two to threefold what can be
realized in Northern and Western States, counting
up hundreds of thousands of dollars; and yet day
after day the inquiry Is made, "where has all the
money gone to for the 2l0O,0 600 bales Of cotton
that have been received and sold in the Crescent
City since the LIST day of September lasts',
Well as we have for some weeks in our daily re-
view of the money market remarked that the sup
ply of money was not abundant and the future for
the present summer could not be regarded as under
favorable indications. This is manifest, just as
plain as the monday sun, which, by-the-bye was
| tolerable hot yesterday. The money market was,
however, far from being as comparatively warm !;
nevertheless, there were some transactions in next
winters paper, at the rate of 81, 9, 9a@10 58ct.,
with some under operations-tbey could be called
tiger or tonsoral, tout le meme chose-at ID1A D.
ct. y month. The demand for money at these rates
is not free. 5#
i We regret that this great seasons business lis
likely to close under clouds and somewhat gloomy
forebodings. The foreign advicea from Europe are
certainly of most unfavorable nature as regards
the shipments of our great staple; and though the
general idea is that our factors have received pay
ment in full for all cotton sod Jet there has beer
a press-an enlarged demand for money-whict
we should greatly prefer, in our course as journal
sts not to have to record 1t Ia useless to conceal
the fact that there are more wants for money and
bank facilities than most people seem disposed to
eoncede. This is confirmed by the suspension Of a
heretofore supposed to be strong and solid cotton
factorage house, which could not meet its engage
ments yesterday. There have been other suspen,
sions during the present month. We cannot at this
moment entertain the belief that these suspensions
will lead to general insolvency, but coincide with
the remark that the troubles are only Of a tempo
! rary nature. We have no idea in fact, we repu
date the idea that it is only " question of time.'
We have no faith, not particle, in these ques
tions of time.
The Exchange market is what may be called ii
statt quo. The banks are selling checks on New
! York over the counter at the rate Of premium
though one bank asked I. 1t was equivalent t,
saying that we have little or nothing to draw for
! There was very little exchange offered to-day Q
! ! any kind. We quote choice and good sixty day
= on New York at from t@7 discount. Very goo
bills to be had at from sD3, even at dis. In fol
: eign most drawers have got their ideas away up
high up, holding sixty days on London l1O@ll0
up to l1O5. In document bills we did not learn 0
sale. There have been about 5000 bales Of col
ton sold since last Friday, which ought to max
something of show in exchange balances, provid
!. ed the exchange was taken at the time the sal
was made We did not learn Of any sales in francs
and quote from ell i@5.0s} and 5.05@500.
In Stocks we learn of the sales of two parcels 0
pontchartrain Railroad 100 shares and 20 do at 81
: ex div, and three parcels of Canal Bank, say %
shares 100 do. and ss do-total, Ala shares With
the range OF sl33a and sl34. Also, so shares Z
Mechanics and Traders Bank (bought on speculs
tion1 on terms not to be made known. On yeste
day there were sold 100000 (thirty bonds of sl01
each) of the Opelousas first mortgage constructo
Bonds at $50, drawing S9ct. interest.
The Louisville commercial review of the 10Th thu
remarks:
Business very dull there change deserving of
dcaiions is likely to continue so during summer
little animation in the stock MARKET The various first ella
ed To d seenaie IN anees Eschangs on he is r
= pet. pren and New Orleans dull at = fct premium.
quote: -,
New York sight. 10 prem 1a@, prel
Charleston ..,.... dis par.
Land warrants though the uncertainty of the pas
the Homestead Bill has given rather more confidence TO o
- 4 Buying. ss,lin 81
80 acres. .....s 10 10 W
100 acres. .................e 60 70
n The Cincinnati Gazette of the 10th, says:
rLetJ mt new tp-tla