New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-01-27
Nftp Orlfans lailp Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
Neu 0rIeans nlpatu Nlarkt.


glib 0rItaas 1loatu NIarkd.
csase.4 4s. o.s,ss k e z e sss III
There was more inquiry for money, attended with
large offerings Of paper On the street. Some Or the
note brokers have as much b they can place at
Che rate Of 90sa aet but The regular market rules
from SOLO. There were sales of good twelve
months at ll@12 get, which viii be paid at ma
tuTty and intrinscally il good and sound ali the
very highest grades; but not having the prestige
Of fame, IL must when placed On the market, sue
cumb to the caprices Of buyers and lenders
There was not much done at the banks to-day In
fact. there was only one bank regularly discount
ing There were, Of course, tlle usual discounts in
the interim Of semi-Weekly conversations Ill meet
ings Of the boards. The banks are doing very little
lst Of june next. The banks to-day we're not %
flush as they have been, and are UNNECESSARILY id
resources below the corresponding time last season.
The money market In tho Northern cities appears
to be approximating tightness. 1t ia not pereeiF-
ed how it could be otherwise. For instance, the
banks in Boston at the date Of the last returns Ton
the 9th instl had 300 coin IN vaults to meet
immediate cash demands, NV deposits and circula-
ton Of ~ 900 900 Of within fraction Of eighteen
cents per dollar ia coin. II The country banks out
side Of Boston were included, the specie basis
would be about seven cents on the dollar hi paper
Boston could not stand very strong rue for the
precious metals. However, It Is hoped, and really
believed, that the Boston folks can and will nav
for all the cotton purchased on their account,
though it is sIrmised there may be more Field
FoWlers about. We do not coincide iii the remark
though bills on the pemberton Mills Company may
be considered in b critical position.
The general Exchange market to-day opened
with good demand for sight on New York, which
was freely met at / discount BY the banks and
choice drawers outside extreme rates ranged from
/, sGa get dis. The general counter rate was
steady through the day at / tis. In sixty days
sight there several transactions at various rates,
from Il, I'll, 2a@2a dis. Drawers Of sterling en-
nance their rates upon what ground It was diff
cult to learn, for it is manifest If cotton continues
to sell at ll@l14 cents, there must be large sums
drawn for, and we did not learn OF any advance in
NeWYork to cover the advanced rates here to-day.
The asking rates for clear sterling to-day were
from 1917, I0s@I0s4. Dealers were only willing
to allow 107l@l07a. and repudiated al higher
rates. For remittance the rates were held ait about
the last quotations in New FORK, say los 110Sl and
fraction over. Document bills ranged from 1863,
107, Io74MIo7a. There were very few bills to be
had below 1o7; in fact, they were so few as to be
few and far between In francs there were sales
Of 100000 a. 5.2s4. The stiffness in rates has
brought about an advance, the market closing at
5.32l0353O up to 5.26415525. The largest part Of
the operations were closed on the basis of $500
5.26f, with bank drafts at 5.22l. Take the ex-
change oil round it is advancing to rates that will
force the banks to curtail discounts and instigate
them to watch their vaults with a considerable de-
gree Of interest.
In Stocks we learn of the sales of 100 shares
Mechanics and Traders Bank at 50. a few shares
Of Gas Light Company at 164 and 80 shares Ores
cent City Bank on PIT. and SO shares Of Bank Of
Louisiana.
There was an election for Directors for the Great
Western and opelousas Railroad yesterday. We
do not know who was elected, and with many
others, do not care much, When the road is com
The imports of gunny cloth into the United States
for the year 1850 75,450 bales, say nine hun
bred and five thousand five hundred pieces, suffi-
cient to cover about four millions and half bales
of cotton. The total stock on hand in the United
States on the last Of December was 80 Jos bales.
It is estimated there is consumed for the balng of
cotton about IS get. Of the import. The ship
Agenora sailed on the Sd November from Calcutta
directfo New Orleans, with two thousand and one
hundred and two bales Of cloth. The ship Dragon
sailed on the 30th September with 32,s2O bags aud
no cloth. The ship Emily st. Pierre was loading
for Charleston. This ship is owned in Charleston,
and it is surmised the GharIestonians intend to
commence direct trade at once. Though there are
two vessels en- route for this port direct, the car
goes are believed to be owned in New England, in
and about Boston. How long, it may be asked,
before We can announce shipment inward from
Calcutta, in q vessel owned and sailing from New
Orleanss