New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-07-21
Neb ORLEANS Dallp Crescent.
pINAgcIAL AVID COMMERCIAL DEPARTMENT
Nsn Orleans atlontu gtIarAet.
CRESCENT OFFICE, No. 70 Camp street. 4
-MM Friday Evening. Jllg zg, 1860.

Friday Evening. Jais -, B6o,S
Though the rigidity of the general money mar
set may be said to be relaxing nevertheless there
is no surplus of the needful. The calls on the
banks for discounts, though much less than last
week, are relatively equal to the income. Tie IN
come Of each bank is disbuyscd regular. All one or
two Of the banks to-day the offerings did not reach
the income yet the general line of discounts is
full, ard as expansive as the law allows. 1t was
difficult very difficult, to sell long dated paper on
the street, even of the very highest grade and
standing. We know of real Al being refused at II
get h month-more from the means to purchase
than the will. There may be an occasional sale
but nothing of Importance or sufficient to give a
tone to the market. Among the tonsofs-thc lgtD
q yet. y month gentlemen-the market is quiet,
very quiet. Nothing observable Of a tight market
among these useful members of the body financial
they are prepared to buy at 292h and get. per
month, and in some instances they will recede and
accept Of 15G0p1i per month, without, they say,
| being charged with inconsistency or desire to
take advantage of the necessitous times. All, hem
| We are pleased to learn that some of the tonsors
and shavers have not lost or laid aside all feeling
towards the small traders, mechanics and others
who desire to realize outside Of bank, and who
never keep bank account. Occasionally some
small sums of good and second class mortgages
can be negotiated at from 9Dl0 and IL get. But
take the general market all round, there are no
quotations to be had which may be taken as a cri-
| terion of the money market. There is no doubt in
some circles there is great want of the needlul,
but the pressure is healthfu; it will lead to gen
eral curtament of dispensing favors, in the way of
accepting on crops to grow, though there is no
better paper Or commercial securities issued or
/ afoat than the date and time drafts Of cotton
planters on city factors.
There were later adyices received from Europe.
First by the Galway steamer then by the steamer
Africa, arrived at New York. The accounts, via
Galway, were, in the absence of the Africa's ad
vices, considered highly favorable for our great
staple but subsequently the Africa arrived at New
York, bringing the operations and sales OF cotton
for the week, which threw wet blanket over the
Galway's advices, quoting cotton firm, which
proved to be at sgd. for Middng Orleans at thu
week, July 7th. These accounts had percepti
BILE effect on our market, because there was moth
ing on which they could operate
The Exchange market for time and short tim
bills on New York was rather sick to-day. Tn
counter demand for checks was feeble at prem.
and outside still weaker at prem. Ten days sigh
: 3@l4 prem; sixty days sight on New York at 10
and i9ct discount for choice to good and to fair
| We did not learn of movement in sterling, ant
quote at our last rates, say l094@S09a buyers
rates and none on the market. Some small sum
are daily or weekly required for remittance t.
! | England which are furnished by the banks a
from lIO4@ll0R. We did not learn of any move
ments in Francs, and quote comprehensiveiy 81
85os4, including commercial bills.
There have been no movements in Stocks nor
bonds other than the sale and transfer of 25 share
Louisiana State Bank on PIT, and some pledgin
of other shares with the several Insurance Comps
MES.
= The New Orleans Stock market may be quote