New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-01-12
Mtp 0rlsalls Dailu GrestsIt.
THURSDAY MoRNINa. JAN ANY IL, 1sea.
Nsh, 0rIsals HloreV Nlarktt.
ERgscKsr 0grcg, No. 10 Camp sfreet,
Wedses3aY EveaaIna. Jsys. III, 1861.


asss Wsss oss.ss s C. e 5s IL Ill
There was good demand for money to1day-it
was, however, met, but under some advance il
rates. We minated yesterday that market IN
general was settling down 10 10 f2ct. per annum.
This was confirmed BY sales of paper maturing
next fall at The rate of ss0Io get, and 20 cut
long talk short we have To say that the rates out
side 81 bank rule at from 9DI0 Yet FOR The very
best Of signatures appearing. Some special loans
can be made At lower rate. But there II no dou |
BILE Al afioat Or now issued. The old fogies. Or |
they who are ambitious Of being ciassed In that /
category, are very timid about using red ink, Or /
placing tkeir signatures to pieces Of paper, payable
year hence. There y, however, many pieces Of /
paper discarded IN the bank parIors on the ground
of not being strong, which win be paid at maturity
as promptly Is the high grade of AL. We again I
repeat that the banking institutions Of New Orleans
have lost more money BY fayoring what is termed /
strong paper, Of that known under the cognomen
Of gilt edge, than BY other grades which are based
on real transactions. II il not ont of place for us
to intimate TO capitalists, lenders Of money buyers
Of paper, not to discard paper which may not have
the prestige Of fame attached, but no long as yon
have the name Of q cnltivator Of the ground ID
planter with his factor or merchants name plainly
written on the face, with the name of tile endorser
seller, there cannot be any better paper securi
ties made. There are three names attached. True,
there may be good deal Of fancy on accommodas
ton paper made which may resolve itself into one
name only. On this point as regards soiyency and
punctuality, buyers may be more Or less influenced
by those useful, and not to be dispensed members
Of the financial fraternity, brokers. They are gen
orally well posted up, though sometimes perhaps
very often, they caught mapping. In fact, they
are The very essence, the life and blood Of our
/ financial poIitieo community.
/ The Exchange market has rot into one OF those
freaks which puzzle the boIdest and wisest opera
tors. Here we have, within the short space of four
days, Northern sight funds jumping mp from l0aIa
to tot discount brought about by It appearing
that there IS more money to be paid BY our com
mnnity than was expected or calculated on. Most
every one inquiries, what il. the occasion ~ Our
view is, that our community has assumed larger re-
sponsibilities than our leading nanciers are aware
4 of. It is to be observed hourly ON the flags by
d close and discriminating parties. Exchange ct this
time ought not to be ruling Gas 1t does apparently
II against ns--though IT may be real Although The
counter rate of checks on New York ruled this day
one year ago at at1s dis, yet they had been lower
Il In November and December previous, warranting
the importation of gold coin to the extent Of sx
millions Of dollars, the 18th of January 1asi
the specie reserves of the banks were SIG 34s geo
II The movements in exchange to-day we're steady
demand for bank checks at Oct. discount. with
II large sales. Outside rates SOL discount. though,
Al -
n :, which was assumed as no desire to draw, be-
cause there was nothing to be made, and at late
il hour they were talking Of a quarter, which may
eventuate in further advance, or may amount to
a nothing. The market closed firm at discount at
i all the banks In time bills there were sales Of
sixty days at ?, 2a02a get dis-2a was the lowest.
i Money in New York was reported to be worth s, .
@10 get. In sterling there were some transactions
at 1o74, 1913, 1913 al07a for clear bills. Document
bills were closed at 1o6A0D extreme ranges Of
this class are from l06s@1o7. Francs quiet and
dull. We have to quote from q. 80 to 5.25,
though there were two operations resulting in
! 5232, but these figures l5.233l cannot be called
quotable.
4 Great and varied are the interests between New
Orleans, or say Louisiana, with the good old State
of Kentucky, both financial, commercial and So
eial. They are hound together by the strongest
ties. It is not out Of place for to give the posi-
ton of the several leading oneyed institutions Of
that State We append below the statement of the
Bank Of Kentucky and branches at the close of the
last year. The circulation is large. The actual
amount of coin IN vault is moderate, but exchange
balances are deemed as equivalent to coin. The
item of bills of exchange nearly 5000, COOS
, large, very large. Whether any material part Of
this sum is composed of exchange on this city, d
what part may be its distant branches, is moi
shown. According to the banking laws of Lqui
siana the Bank of Kentucky ought to have coin ii
vault to the amount Of 81 .922, I'll; whereas, j
shows 1857, sal. The actual demand, cash liabili
ties, being dHe to denositors, due to banks, eircu
lati0n, due to Treasurer of Kentucky.
Statement Of the Bank Of Kentucky and Branches o,
the 5th Of january, 1850.