New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-10-03
Nt6 ORLEANS 1allp Crescent.
51tu Orleans 3tlolrtp 3tlarhst.
CREssEST OFFICE, No. 70 Carop strse, D
Iti..aAa.t Elent.tr.r. u D TN I


menta; but there were transactions in the great .
staple beyond any day Of the season, brought
about by the continuance Of the storm, which it is
believed has extended far in the interior. The
storm Is known, however, to have been prevailing
last evening the line of the Jackson Railroad
and from the nonarriyaI of the mail train this
morning, it is reasonable to suppose that the de-
tenton has been occasioned by the storm, as the
rain fell in torrents.
The general money market for the past two days
has been somewhat in unison with the weather.
heavy and cloudy, with large applications at the
banks for discount footing up double and triple
the income.
On the street there was very little doing. Some
of the note brokers closed at a very early hour,
knocking off, as it were, and calling it half day
With others, there was some negotiations for small
amounts Of Al paper at q 10 yet. For second |
class and fair there appears to be very few nego
| tiations. The discrimination in paper drawn by |
planters on factors is, in many respects, unjust
The class of fancy names is greatly restricted: at
| the same time we have no more confidence in /
what are termed fancy names and gilt-edged paper
| than in the second and third rate. Many of the I
real old fogies who WELD large influence, do not
accept to large extent, and in chasing their pa
per as double Al, and beyond all doubt, suscepti
BILE of being negotiated at bank rates, q SECT.
| The remark might be added that these signatures
| are scarce, few and far between. Many large
| dealers in paper and commercial securities make
1 too great discrimination in their views, which
| often very often reflects on many houses, who,
| like their fortunate contemporaries, commenced
with small means, but by fortuitous crops of cot
ton, have attained solidity and standing. 1t might
be directly charged that our dealers in paper and
money lenders are not cognizant of the standing
and merits of more than one.half of the CONNER
cial body.
The Exchange market to-day was somewhat
firmer than on Saturday. The run down in sight
funds has been arrested. The offerings to-day
were light. The counter rates for checks at the
banks on New York was steady at par to ] pre-
MUM. The demand all round was very feeble yet
rates have reached something Of steadiness. Out
side Of banks there were transactions at 4c q &c.
discount. In time bills there were no large trans
actions We note sales of thirty days sight on New
York at llc. discount with some sixty days sight
1 at II a 2}c. discount We quote sixty days sight
at from Il q and 2Ac. discount. In Sterling, we
note sales Of document bills, 500 bales cotton at
1919, a further sale at 107A, and still further move
| mentS at lUS. IN clear Dlis tneFe were Salts dl
) 1881, down to l0s5. We quote clear extreme from
1851 q 100. Some of the banks draw at 1898 for
the accommodation of their patrons. The move
ments in francs were not large. We note some
small amounts as having been placed on Paris di-
rect at 5.229 and 5.21i The range is therefore
from 5.27 to 5.2l4 with some bills on the outports
not commanding over $50 q 5.2Il.
In stocks and bonds we have not heard Of trans
IA, nnffl ar,;.n o1Ia,1o
Gus stock are offered more freely, without meeting
buyers The stocks of the free banks held with
in the range Of par.
i We notice the return, and at his post again, Of
It President Denegre of the Citizens Bank.
Our adviees from New York indicate hardening
money market. The city Of New York has as
sumed to be the commercial and financial metropo
lis of the United States and under this assumption
they ought at all times to have than eighteel
millions of coin in vault to sustain the business 0
is the Confederacy. New Workers say they have t,
stand the brunt of the financial movements of thu
Union; if ths is admitted, then they ought to hav,
more than nineteen millions of specie against eigh
tyfye millions of deposits and circulation. Oul
latest dates, say the 9th ult., from New York, fur
= nish us with the following:
The demand for money is increasingly active
with more business paper Offering, and less capita
to be had on call. There is now very little move
a ment of any kind below get, the exception being
in favor of very choice endorsed paper. The South
ern banks are still drawing most or all of thei
| available means, many of them also borrowing o
III their correspondents here, and the Western insti
buttons are demanding additional means
IT. There is better feeling in regard to the move
. ments of produce, the private adYces from Europ,
= confirming our previous antclpations, and assert
ing that in possible changes still to occur. car
IT. the haryests of either grain tubers be brough
"a up to a fair average yield
~ Foreign Exchange is in moderate demand; goot
commercial signatures, 80 days on London, Canno
nt well be sold in quantity above l09a while fair do
', with bl-lading attachments, (but not intending
.. those sold alone upon the strength Of the bill
. lading) are rated at l0S3 % l09; bankers may b
quoted at l09a q 1909.
IA We hope Northern spectators in grain will, a
an early day, settle the veSed question of defc
ency in the haryests of Great Britain. The remark
~ to-day upward and the remarks downward to-mol
n. morrow are too much af the schooboy style wit
something of iockeyism interlarded.
The progress of the harvest in Great Britain ha
been watched with much anxiety by all engaged i
or connected with the great cotton trade The at
IA counts are so very conflicting that it is impossible
st to arrive at anything definite regarding them. TIL
private advices read almost directly to the revers
of the public accounts. We hardly know unit
ee which to give eredence. The Liverpool Times 0
NJ, the 18th nlt. says:
week of unnterruptedly fine weather has Ell
abled farmers to make rapid progress with harves
work, and large breadth of the cereal crops i
~ this neighborlood has been cut down, but very Ii
- tie is yet carted the samples exhibited hithert
have been very unsatisfactory in quality and col
dition. The depression which has paralyzed tn
trade since the return Of fine weather has at lengt
given place to tirmer feeling, holders being cor
WINGED that whatever the result of the harvest ma
be as to quantity, the condition Of the new whea
will cause an extensive demand for good dry for
eign wheats for mixing, which cannot be met a
prices lower than present currencies, and will mos
probably lead to an upward reaction. At the pro
vincal markets held during the week there ha
been more disposition to do business at the declin
previously noted, and the samples Of good whea
offering have been very limited. Here we hav
had decidedly stronger tone in the trade, and fin
wheats have met a fair demand, and in some in
stances realized slight advance on the previou
decline In -four and Indian corn very little bus
ness is reported We have a fair supply of Amer
can wheat and -four, and large quantity Of Frenc
flour arrived since the beginning of the week; tn
only other arrival is 1857 quarters Indian corn frol
the Mediterranean. The Gazette returns for th
week ending Sth inst. Go, III quarters less tina
the previous weeks RETURN
The odvices nv the City of Glasgow four (lay