New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-18

tions at the banks at s09 get. at four and eight
months. Outside, on the street, there are daily
transactions at from IL, Is to Is get, with 20@24
who are governed by the "code de tonsorial.''
Therefore, our general paper market ranges frsm
8 to d yet. Any one having anything tangible in
securities can realize between the above rates-a
range sufficiently broad to suit the most fasdious
The exchange market was well supplied to-day,
in almost every description. The banks, or some
of them, had q good demand for checks on New
York at par. Outside there were several transac-
tions at an 18th dis. The buying rates at the banks
were from J. 3I6@4 dis. There were several
transactions in time bils-say sixty days sight at
Il, II, IL, l4@2 act. dis. There were some
Havana sixty days sight taken at u dis, to the
drawn commercial bills at ls@l5. We cannot,
however, quote extreme rates only from u (and
very small sums taken at thaD to 1902 dis.
Though we heard of some drawers holding at Il
dis, it was equivalent to desire not to SELF. In
sterling, there were some sales in clear bills at
from 1O71, 1O73@lOs for the general run. SoIae
small sums were taken at l0s4@l0s SIG, but The
large dealers were paying only 1875 up to los, In
document bills. the quantity offering Yves limited
that is, very light; we quote from lot, 107IGl07l
and fraction over. The only movement in francs
was a sale of 100000 at 5.22a -lrawers tolerable
few; and as there is very little cotton now being
bought for France, there will be some deficiency
in the amount Of frames for some time; but this
will make very little difference, as there Is, and
will continue, an abundance on England.
4 1.
There have been some movements in stocks
To-day there were sold sixty shares Bank Of New
Orleans at l0Oa, ten shares Union Bank at 1901,
twenty-five shares Louisiana State Bank at 1s5, ex
dividend.
We have from time to time alluded to the banks
of Kentucky and Kentucky currency in general,
and Of the large exchange transactions, winch
forms general feature Of the system in that State
by bank having a number Of branches, and
making the greater part of the circulation or notes
issued payable at the branches which are located
at various places in the interior Of the State. The
Commercial Bank sof kentucky is located at Pa
ducah, and two branches in the interior. The CAPT
tai of the bank paid in is 81, 100000. 1t is allowed
to issue beyond the amount of its capital without
any security but the public confidence. By the
figures below it will be seen that the exchange
held by the bank is sl,956,2l4, of which $500 $50
are bills maturing South, which means they will
bring up in New Orleans for presentation Of pay
ment; that $53S 257, Or nearly half the amount of
the capital is in exchange the West and in Ken
lucky. The circulation Of the bank is 81 GAS 22S
deposits, $242, 1885, due banks SIZE, OOO-total i'm
mediate cash liabilities, s2,Ooo,0O0, to meet which
it has gold and silver to the amount of $3.50, 00o-
our Louisiana statutes would require 5000, 900. Ii
then will be seen, however, that the balance is more
covered by exchange and other bills receivable
There is no security required to be deposited in the
hands of the State authorities to protect the circu
lation, but the movements are represented by per
sonal securities. There is no general banking law
in Kentucky, or rather the banking in bonds AMI
stocks il not one of the statutes. The banks o
Kentucky did not suspend during the panic of 1857
We bring the position and movements of this bank
as we have the banks in Louisville, before GU
readers, to show them--the public at large and gu
legislators the amendments to the genera
banking law of our State, as applied for by til
stockholders and directors of our seven free banks
can with safety be granted-that justice and fait
! demand the concessions asked for, adhering, q
course, to the one-third coin basis.
Condition of the Commercial Bank of Kentucky an
Branches on the 31st December, 1859.