New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-03-01
Nttu 0rlsans 1ailp Grestent.
RIAANcIAL AND CesMERcIaL DEpaRTmrKr.
5ten Orleans alonsu Blarket.


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Ssrsc VI syhcEs No. 70 Camp strest.
The weather cleared 81 !. h'ssnns fees y isso
however, followed he s., = vas NOV
extended operations nv, ~ =, business =
very moderate ipau;rv a. ''e.s "as oh'y
ity Of the banks hi eait. =. Wisn 'haJof-
were compared to the ;ne.,,s =,
order, that ia, the calls vero =
come; still there were reaorr.a W ~
come, which were, it Il beliavsa ,.,,.s, ~
ously. It is talked Of that ,artie. ,,s,,.
obligations on expected promotions = -
cotton and other productions, which are noyw &.
forthcoming. Possibly some partiea who, how.
ceiyed favors may have sold their nrodraa :.
home, considering that the home Y,askat ~
best, and obviates the expense Of shnnia,,
insurance, commissions and. So on which t.,.,,s
bye, is not considered fiatterinr proceedin, II,
acceptors All the movements in psper NO heard
OF to-day on the street were confined 10 some fsr
o. dollars Of long dated paper at the rate
OF sl9iO get. Though there are several buvers ~
| paper appearing daily on the market, thew d. nj
seem 70 have very strong confidence in our present
easy position Of financial affairs. It NAV he old
fogysm or it may not. II the old fogies choose i
keep their money idle the age Of progress viii NOT
orlng Il ont, only under holders owners option.
Inc snare and bond market was extremely quiet
to-day. There was one sale Of stock Of an incor-
poration or company which has been greatly below
par for some time past, but appears now to have
some vitality The sale alluded to was 20 shares
OF Southern Pacific Railroad at 50 so per share
which is a considerable advance on last sales
which were made at 9g05l0Oc. per share. There
has been some inquiry for Gas Light Compan,
Stock, and s167 per share has been refused. Som,
extended privileges say extension of charter, hay,
been granted by the upper branch of the Leeisla
ture, which are deemed of great import to til,
present proprietors of the Company.
There was only moderate business done TO-DAY
in Exchange. The counter rate at the banks fol
checks on NewYork was Set. with a very feeble
demand, with large sums to he had Mt an i. Ont
side double AL sold at Lie prem. pood ~ mar Il
an dis. one day sight at dis. three davs s;qbt
dis. sixty DAYS sight at I70Jl and I, discount
moving very heavily and closing with buyers hay.
ing advantages. The banks cannot buy much. or
rather on large scale, unless they can sell. In
sterling there were sales of Bills of Iadnp to
extent. ranging from 1914. JO7 ala. 10710a1o7g
Clear Bills there were sales at I0sl0a1Oss and IOss
with remittance rates ruling higher. The advicas
from New York Yesterday quote sterling in that
market dull and dropping, even as low az I0si6a
lQss-not much prospect for profit at these figures,
IN francs there were moyements TODAY of 200. 600
1T 5.1s4, and other transactions in small way at
'.l64@5.l5, with the extreme rates ranging from
'25G5.l5the latter for bank drafts at short sight
In our issue of yesterday we quoted from the act
VI ls42, regarding banks and the organization Of
he Board Of Currency, with the qualifications of
he members to compose the Board Of Currency.
This act has been passed over by two conventions
or amending the constitution of the State, and
ONE further legislation has been created or acts
'een passed in regard to the Board of Currency, |
uch as reducing the number and compensation of |
he members of the board. The first act giving |
he members of the board $4,000 each per annum |
> compensation. The act Of 1912 was joint CON
ractwith the State and stockholders of the sixteen
anks then IN existence; they were required to
ceept OF the conditions within twenty-five days
We OF them accepted, including the old City Bank
hd the Mechanics and Traders Bank. The
atlzens Bank has been revived since. The banks
ccepting the act have worked under it since, and
o not regard any laws or enactments that come
o,t;o,. - .., " - d uaii
eaiots VI iehioets Vi the board OF currency,
nd when we call on the officers of the old banks |
re are informed thew are ,vorl-;n, ,,,a a. H.,