New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-01-31
Nf(u Orleans 1aiIp Crescent.
FINAEcML AND coMmEReIaL DEpaRTMr I,I1
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Monday Night, JaR. ID. lid !
The week opens with the most favorable weather
for outdoor transactions, which, with numerous
and many arrivals of steamboats, for the pasi
seventy-two hours, creates great activity and ami
nation in general trade. The receipts from King
Gotton.s domains are on an enlarged scale, some
what astounding to some parties. However, if the
king has repudiated sand and dust, be will do WE'LL
A year ago to-day we wrote what follows
Though The transsetiol- in been large to
EaP Ne eeeT reqi HIT e "a Il, fa ea
nns isa a.'ssl ass e IMPLY d a1and Y hsgs
snetlrd q ie crop II Cotton " rfged here nv
rnars Ind Good Ordinary Il eaaas III es ssJ, HI, Ky IL
future 4 tlis English market 'h exercise con-
viii god prices 1''se so'
In the Money market there was no change per-
ceivable from Saturday. The offerings or calls for
discounts at the banks were large, much beyond
the income. On the street there were negotiations
Of long dated paper at the rate Or sh 9@9a pct.
There very little paper that can be placed below
Get, in fact to Of get. There was long dated
second class mortgage paper offered at the rate Of
IL get, which ntrinsically Is as safe and sound as
that chasing Al.
The committee from the Legislature il now in
the city, making the usual yearly examinations Of
the bank. The members, it is not supposed, viii
undertake to count and handle all the piles of gold
and silver in the vaults If they do, they will not
complete the investigation till about the close of
the year 1850. We should like to see the commit
tee with their coats off, shirt sleeves rolled up, in
the vaults Of our banks, counting away on three
millions Of dollars, or rather $l2,5000o0, from Q
O'Clock a. ". to 3 p III. They will, however. find
the coin there. all in readiness to be handled and
to be entered on the report.
The exchange market closed pretty 6rm on
Saturday 1t opened this morning under an active
inquiry for sight on New York, which was freely
taken from the banks at / dis, with large trans
actions outside at the same figures and G. The
range of good sight drafts the street ranged
from to dis: five days sight TO dis; thirty
days sight from to l. dis; sixty days sight from
IL to 2, for choice and selected signatures and II,
2l0922 for good to fair names. The offerings are
free, and as the New York money market is re-
ported to be better supplied with the needfu, time
exchange will be in more request. In sterling
there were sales of clear bills at 1911, 107901107f,
dealers buying rates. and remittance transactions
at from l07E, lOs@lOs4. Document bills were
steady at 1909, 1oT01l07, though 1864 to 1914 are
the figures to be consulted in extreme. The tee-
graph adyices from New York indicated dull
market, but many reports from that market in
clude bills from every Southern city in Market all
of which are embraced as Southern bills Southern
banks-confonndlng banks which are known under
the style Of Southern in a mass together. There
are banks in Georgia and South Carolina, banks in
Florida and Alabama, selling sterling exchange iii
New York; so there are banks in our city and in
Mobile; but the Southern Bank of New Orleans
and the Southern Bank of Mobile have not, we are
informed, had sterling exchange sold at l0s@l0s4.
But there have been bills of exchange drawn in the
| South on London against cotton which has usurped
the name Of drafts Of Southern banks. IT Il very
difficult to arrive at just discrimination in the
multifarious quotations which come over the wires
but we learn there have been sales of sterling ex-
change drawn in the South forced off in New York
at 1913 to los; but it was not exchange passed
| through our banks.
There was very little done in francs to-day,
French exchange on all points Or places in the EN-
pre is ffrlner We quote extreme rates from 5.al
to 5.232. Bank drafts higher, as also Al private
| bills for remittance.