New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-05-31
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FINANCIAL AND COMMERCIAL DEPARTMENT
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Wednesday Evening. My 50, 1860 )
Financial Affairs moved along very quietly to-
lay. That tremendous pressure in our market
FhicI was predicted by the bears OF the Rocky
mountain species, has not come yet, NOR will it
come before the close Of the present commercial
PEAR. E
There was only something of half days bust
ness carried through to-day. The falling OF was
caused by very fine shower Of rain (nhuch more
precious was II than ship loads Of gold from Cali
fornia, Pixies Peak or Australia) for snort time
winch checked out Of door operations, and many
parties closed up and went home at an early hour.
Alter o'clock, II was quiet and calm in and
around the banks; in fact, though tie simmer
months have not arrived, the samrner standard Of
business is more than reflected at this ryesent I
writingthe close of the last Of the spr1ne raoutbs
The calls on the banks to-day for discounts u 49,
up to the offerings but both calls and income were
moderate, as our friend General Moderation says ca
Royal street.
On the street there were some sales of paper
maturing in November, December and january, ii
9 and 81 and get. Dealers in paper, afteri
having for weeks past been in clover, appear to Be-
decidedly otfish towards lower rates. Conse-
quently, the street transactions under Pet. are
few and far between, and then for only something
that can be called very nice at from SOLO yet.
there are ample supplies Of the dross for all leg
mate purposes. Whether we shall have cheap
money depends on outside circumstances an
easier money market, with enlarged facilities, IS
already realized. There are many capitalists
dealers in paper, who will invest at One price and
discard another. These gentlemen are considering
whether to accept Of decline or hold for the
ruling rates Of March and April.
The Exchange market moved along very quietly
to-day. The counter rate for checks at the banks
| On New York ruled at from aHs prem. The latter
figure cannot be considered as real selling rate,
though for quotation cannot be disputed IN the
| way Of making returns. Double AL drawers out.
side were asking a@s prem, Hhie there were
other negotiations going on for good to fair sight
drafts at from prem. down to prem. and frac-
ton under. Time bills from 3@E dis. for sixty days
i sight Though some drawers hold at A@s dis.
4 these figures are not really quotabEe the genera
run Of commercial bills being from h I@l4 dis
The real demand for Northern funds by our per
mauent residents is on diminutive scale. But oul
good city has to provide in some way or another
for many thousands-yea, hundreds pf thousands
Of dollars in Northern funds for account of the
great West. n affords our financial and CONNER
cial community much pleasure to aid and assist ths
/ financial negotiations Of the many Tennessee, Ken
J lucky, Indiana, Illinois and Missouri banks, wins
look on New Orleans as something more than
I" left bower
!; We have very little to remark pm Foreign FL
change. Clear Sterling has advanced way up
almost too high up for us to reach il, unless with
good long pole. We have to quote clear bills a
] from 1921, IOs2@1l0, though probably the latte
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