New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-03-30
CaEscxxr osyIcx, No. 10 Camp street,
Tfnrp3ay Evening. March ~. fBsa.

caEscxxr oyyIcx. No 70 Camp ssr.st. 1
ThurpdAy Eseaing, March ~ f6eo.
The tenor Of the Money market was unchanged
to-day. The offerings for discount 1t she principal
bank discountfng were about as usual, 10 we were
informed by General Moderation. OF course
the discounts were mot above the income, a. bank
to discount nowadays above or over the amount
Of its receipts must have very large basis on
which to operate. Promising that all the banks
discounted to the amount Of their tether the gem
eral ability Of their position can be realized at
once. II they had the same amount Of coin on
hand to-day as they had last year at this time say
sixteen and three-quarter millions Oh dollars, they
might expand Eve or six millions with safety. As
il ia, they cannot do much more from day to day
than discount their respective income, which Is
much better than saying, we cannot do anything
to-day. There was a good supply Of paper In the
hands Of discount brokers to-day. The sales EN-
brace good twelve months factors acceptances at
100I2 get, with a few moderate sums being
charged on at the rate Of 0 get, which Is figure
somewhat on the obsolete order at this moment,
There were some sales Of eight and ten months
dated paper at 12@13a and Is Oct. every dollar Of
which we verify believe will be paid at maturity,
and may be considered as good at the very best
There is large quantity Of produce yet to be sold
and through the banks the negotiations and pay
ments are to be made, with only one or Two excep-
TONS But just as fast AZ these payments are made
the urgent calls Of borrowers on capitalists induces
them to re-invest purchase again, and the amounts
TO be paid into the various banks between this and
the 18th proximo will amount to SIS, 000, 900, and
how much Of this amount will be re-loaned andre
discounted It Is difficult to surmse There is not
shadow Of doubt but what it will be all re-invested
both by private holders and through the banks re-
distributed; consequently, though we will have
dear money market, we may fondly hope that
the scarcity so freely predicted will not be reaz
ed; yet, all the money that will appear ON the
market for the purchase Of paper Will be at the
figures now ruling, though the dross will not be
scarcer, nor as scarce as in many seasons hereto
fore, not embracing last year, 1859, as guide.
The prices now paid daily for some stocks does
not indicate any great scarcity Of money depres
sion in facilities. We note the sales to-day OF 100
shares Of Bank Of Louisiana at 1T9; Is shares New
Orleans Gas Light Company at 1877; Is at the game
price, and $40 900 City Bonds to Railroads on PIT.
but at low price.
| The Exchange market to-day, though presenting
some feelings Of dulness and stagnancy, neverthe-
! less, was noticeable for many transactions. The
counter rate for checks on New York was prem,
demand feeble. Outside there were several trans
| actions at par@1-16 and prem. for double AL,
buyers having greatly the advantage. There were
| many good bills to be had at par and ZIG prem.
In time bills, sixty days sight, there was not much
animation asking rates 1@li and II discount for
choice and good down to la@1a and II for good
| To fair. Foreign was weak. Good clear sterling
| was offered freely at lOss@1oss, and many thou
sands Of pounds we're covered at these rates; also
two round sums at fraction higher, say 1881. No
change in bank drafts or good remittance bills at
fraction over 1883. Document bills, best Of bills of
| lading, were taken at 1919, and some operations
were closed at los and fraction over There were
other bills under the tiger offered at l07 and
l07a. In francs we did not learn of any large
| movements Rates rule from 5.233@5.ls2 up to
5.l64@5.1 Is for choice and bank drafts for remit
| lance purposes.
| There have been some movements in the scrip
| market Bank shares of the free banks are not
offered with freedom.
| Messrs. Palfrey Co. will sell by auction on
Saturday, the 3Ist inst, $50 600 Of various insur-
| ance scrip, also bonds and shares. Bargains may
be had if the money market is as tight as some
| folks say it is
| Our dates from New York are to the oath inst
The monetary of the Courier aud Enquirer, of that
| date, says:
The money market shows no material changes,
/ the rates being as follows:
Z Nv |H# 5~ ann,,n