New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-03-08
Atu 0rlsaas 1aiIp Grfsfsrt.
FINANCIAL AND COMMERCIAL DEPARTMENT
Neu 0rltaas 5Iloreu Narhtt.
GHgsczHr oYFIcg, No. II, Camp stresi.
Wednesday Evening, March I, 1866

Wedaesdas Eysnins. March |, 100 |
Tile general Money market to-day moved along |
as quietly as could be expected. The calls for dis
counts at the banks were beyond the income and
the good time which was to follow the great fourth
Of March has not been realized, that II, the day Of
cheap money has not yet appeared. There il no /
scarcity Of the needful but some how or another +
our principal banks have very little from day
TO day, and they might expand largely il the law
and penalty were not before them. On the street /
there were some negotiations Of long-dated paper
at he rate Of 9D9a and 10 get. for the general run
OF factors acceptances, maturing after the rst of
January, 1861 1t i ont Of the question to erad-
cate the old rates Of interest-99I0 get interest
d interviewer with the general history of commerce
ant trade. True. some years ago--possibiy they |
were many years ago-when paper would be re- |
| jetted at meeting Of bank managers from some |
cahse unexplained, d member Of the very useful |
| fraternity fthe brokers3 might accidentally be
passing by the store Office Of the offerer, just
step in pass the salntation Of the day. and intimate
TINT he would like to cash anch and such paper at
Say tonsorial figures IAtg2 Oct. per month, or
| higher as the case might present. Some how or
another there would be q similarity Of name and
amount in the paper offered, and which the gentle
manly broker was DESTROYS Of purchasing. In these
DAYS Of progress we cannot tell what il going On In
\ tbs way, though it ii well known that in the great
| metropolis Of New York the brokers and Stock Ex-
change Board have great influence in bank parlors,
but such influence does not prevail in this good
city of New Orleans that is, the brokers 90 not in
4 auence the action Or movement Of our banks.
| The large surplus Of money, which il was sup
& STS .ff,nk ,a III nrah
i has not yet made its appearance; possibly y y
tagging in the rear, awaiting for offers of I0Dlz e
eli From the bank figures there does not appear
/ to have been any diminuti0n in the line Of o..
4 counts in fact, the banks have not one dollar
more to loan Or discount this week than they had
/ Iaat week. AS fast as million Of dollars i paid y
oil one side of the counter it goes out on the other
| without ever leaving mark
4 10 corroborate the untoward feeling in the gen
erAl money market to-day. exchange took q leap
i inward The demand for Northern funds was SO
strong that some Of the banks advanced their rates
fct checks to prem, and sold about as much at
that rate as they had cash balances to draw.
Though / was not exacted at all the banks, the
rate will be generally current tomorrow unless
some grand coup detdt may be advised Of. Outside
9
quarter Of million-$ Zoo 900 were taken Of para
Lie prem Remitters Of Northern funds seem de-
termined that the banks shall stand between them,
al they invest all in bank checks leaving Of course
tile banks to run the risk of commercial and finan
cial reYnlsions. In Time Bills we note sales d
sixty days sight at Holt and II dis. IN sterling
there were sales of Clear Bills at l0s@10ss and
l0sl@lOss, and sales for remittance at 1885 @l0sa
iii Document Bills there were movements at l07a@
lNTa for standard names, and l07A9l0Ta for good
, and fair commercial signatures In francs we have
np transactions to note-5 4D5.1s2 and 5.17a art
tile ruling rates outside Of bank. When the bank
ate asked to draw they exact sis. The dealing il
2 francs at this moment il attended with some re
marks on the political position Of the Empire
There were some negotiations astir in Stocks AM
2 Bonds. 1t is doubtful if they will reach contract
| Just at this moment.
/ The following figures give the rates Of exchang
one year ago to-day. The present rates are not {
4 fattering import:
. NEW oRIEAss ExeHAsGE MARKgTs March I, 1859.
" Bank Checks on New York .......... dis.
sight Hfatls
Is Sixty days sight lsses "a dis
II r. Clear Sterling .iuSsa e gsss8
- E Francs ia ego.i5s4
1