New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-04-24
Neb Grleaas 9ailp Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
gshp 0rleans Nlorev Narket.
caxsexn1 o,rIes, No. 70 Gang .trs.

gstu 0rIsans Wonsg Wuket.
csEscxxr oryIcE, No: 70 Gang street,
Monday Evening, April ., 1860.
The week opens very quietly, or rather it did, but
towards 2. M. 1t was announced that later adj
vices were coming over the wires from Europe.
The most important item was that the Bank of
England had advanced the rate of interest to S y
ct. Well, that ought not to make much difference,
nor be considered as anything of moment, as our
banks are allowed to take and exact 500 get; so,
If money has become little dearer on Threadnee-
die street and among the Lombards, it was not re-
sponded to In our market to-day. On the contrary,
there was feeling towards, and willing DISPOSE
ton on the part Of buyers to invest or take good
commercial paper at the rate Of o pet, at which
figure there were several transactions The law
regulating the rate Of interest passed at the last
session Of the Legislature, works admirably. II
opens the market to borrowers by allowing our
insurance companies and several Of our banking
institutions to take paper at such and varied rates
as can be agreed on, whether 5, 0, 10 or IL get q
annum; whereas, under the old statutes, incorpo-
rated institutions could not realize get In fine,
the act of 1860 opens the general msney and dis
count market to all lenders and they can sell their
stuff cheap dear, or they can keep it to look at
The calls on the banks for discount to-day were
not heavy, though above the income. The general
press for anticipating paper is by parties who are
making preparations for departure to the North or
to Europe. Some say they desire to close up, and
intimate that they may not return, which is all fol-
de-rol, for they will all be back again blythe time
of the first frost next autumn.
The weather is propitlous for the crops, that are
going to be. The recent rains, though only show
ers, have been of immense benefit; yet it is pre-
mature to be INDUCING in what the seed now going
into the ground will produce.
The Exchange market opened, as usual on the
first day Of the week, under some degree Of quiet
ness. The rate for checks on New York was en-
HANGED at most of the banks to 1 premium before
noon. Outside there was fair demand at an
premium for double AL with sales to some extent
Other bills of good make were going at par@l-l6
prem. 1t is reasonable to conclude that we are
now at the incipiency of a / get. premium sight
| exchange market. In time bills there were sales
of sixty days on New York at 1s@13 discount, and
choice bills at 1!@1A dis, and on Boston at the
same. The market is not SO very strong at these
rates, though the supply is not large In sterling
| dealers appeared to be under the influence of the
European advices, which are coming almost every
hour over the wires of some kind or another.
Sterling was decidedly fat in some circles nor dc
| we think that it was brisk in other circles. We
have no quotations to give this evening, because
we did not learn of a sale to-day worthy Of quot
ing, and omit figures altogether. The same vii
apply to document bills, and document bills appear
to be looked as though the judiciary might be
lad Ia fotp II ;,
question will be settled at early day, but there
is no indication; in fact, the further the matter
goes, the more complications arise.
There were some transactions in francs at 5.22A
| Q5.l73 on Havre. The bank rate continues at the
same figure, say 5.16l95.l5. Though 5.l2A has
been asked on Paris direct, we have not heard Of
only few thousand being taken.
In stocks we note sales of so shares Citizens
Bank at 245a, the first sale for several weeks also
5 shares Levee Steam Cotton Press at l72A, and
some other negotiations going on which may reach
| contracts.
| Among the Western banks which have maintain
ed good credit and are entitled to some respect
is the Bank of the State of Indiana. This bank has
we learn, been subject to great hostility and ami
madversion on the part Of its own immediate neigh
bors or citizens. The mother, or principal bank
is located at Indianapolis, with twenty branche
located in different parts of the State--entire capi
tai, 81, O00, 900, or 100000 to each branch. Thes
twenty branches would be almost sufficient to de
stroy any moneyed institution; yet the State Banl
of Indiana appears to be in strong position, ant
the annexed statement of its affairs warrants ths
supposition that it is well conducted institution
As our good city has large business relations will