New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-01-20
Ilgrg -
Nftu 0rlsans 9aiIu crescent.
.lNAsCIhL AND COMMERCIAL DEpaRTMEST
Wtu 0rieaus Aloutv Hlarhst.
caEseEsr oryscs: No. u Camp strsst.

L
Il Thursday Evening. Jan. 10. 1850
y me Money market to-day inclined in favor i
borrowers. The calls on the banks for discoup
were not 80 large as Oh the corresponding day las
week, but the general good position Of the bank
enabled them to discount larger proportions
snare OF the offerings than last week The bank
are all in good position. The decline IN New YorE
FUNDS fayors them. It is not expected that ex
change viii decline to admit the Importation Of
coin, but it will recede 80 much as to induce the
coin now in the vaults of the bank to remain there
The weather is favorable remarkably SO for ont
door movements, and cotton that Is sold and under
orders for shipment can be delivered will, dis
patch provided i Ia not all in two three ware
houses. In some quarters there was to-day bet
Ter feeiing on the part of lenders of money There
were sales Of long dated paper, factors accept
ances, at the rate Of atg94 yet. There are some
buyers OF paper now in the city who reside in the
country that manage to fitch the city and State out
OF taxes imposed on capital, and 1t is intimated
there are agents Of distant banks who find Il adj
yantageous to dip into the paper market occa-
| sionally. as the general character and credit az
factors paper, that is the real cultiyators of the
soil drawn on their agents, is Of the very best kind
We do not care how much money Il brought into
our city by distant capitalists and operators. Int
we desire that they be placed on the same footing
as our permanent residents who deal in paper. who
are compelled to pay bonus or taxes for the
privileges Of using their money. We learn that
there are parties who annually come to our city.
invest fifty to one hundred thousand dollars in com
nierciai paper, and pay nothing more than their
board bill. For instance, they will go to some Of
the many brokers, and inform them they are ready
% puy SO much paper, The broker, always prepar.
ed for trade, pulls out his porte feuille :, and
exhibits his stock or assortment. and names bis
terms, and then solicits an offer. Our transient
visitor or operator thus places himself under the
wings of the intermediate gentleman. the broker
and escapes the payment of the tax on capital,
Inc stock market is well sustained. We note
safes OF Gas Light Company at l64, bought for
PefMaheht investment. The shares of the free
banks range at about par, or at about the same
hgnres as last month, ex dividend. The next diyi.
dend to be made will be by the Bank Of Louisiana
on Monday next, of get. The old Ajax, or its
manoators, think they can make about as much in
the regular discounting of paper taking road
mortgage now and then at the rate Of get, as by
dealing in exchange. In fact, the exchange bust
ness, as regards profit, is dwindng down to non
entity. Outside competition is becoming rather
too powerful for the banks. Nevertheless the
banks can use all their resources with great profit
by combining transactions to loans and discounts
direct.
The Exchange market was well and freely spn.
piled to-day. The counter rate at the banks for
checks on New York was i0ll dis. the Isttor tbo
ruing inquire. There were sales to the banks ~
di-
.herelofe, Tor sight was from 4t9A f2ct. dis. Five
uays ssht ds. ten days sight dis. thirty DAYS
s,s.' holi,hai SIXTY days sight from 15@2 for
eno'oe anu selected names, and 24@2A for good,
anu 1a4ozs ana yet. discount for jockey bills
We ioacea ana quoted an Improvement and nd. |
.anee Yesterday IN sterling. It was maintained
To-Day, with another hop up to be added which
sent clear sterling up to lO7}@IOs, making extreme
rates range from lO75@l0s, with document bills at
ioaeSlo4-eAtreme range from I06a0l07a-th
market closing firm and with upward tendencies
Which VIII result in further advance before tbe
close Of the week. There were some transactions
In francs at various figures, ranging from 5.32aa I
o.2i3 up to 5.25 and fraction over for seIectad
Names The market under medium sunnlv
Under the decline in Northern funds our banks do
not apprehend any calls for coin.
we alluded yesterday to the annual report Of the
superintendent of banks in the State Of NewYork.
In cooking up his annual report Mr. James Cook
Comptroller, asserts that the currency Of NewYork
is unequaed in the world.
Inc Following are his remarks on this head. He
overlooked the State of Louisiana and CITY of New
orleans, with its one hundred and seyenty-dve mil
hons OF domestic productions:
more e Wem Ct gar general bank law becoming and
nes s sei n @s Msra giFs s M iae
dapa IN the business of banking pleasure Of the isdsi
peos q ILL., ea ss,s esh s m WIN,
from is nesmen na1 sas sseS the
exactly The always found IN any bnsne p
until fF Wiz ifG'is Se e assl e
All very well, that is, if the profits from banking
exceed that of any other business then it will have
lhe preference. But banking on bonds and mort
cages OF real estate is a very easy way of making
money, or raising the wind. The Superintendent
closes his report with the following judicious and
Well-tlmed remarks, which will apply to Legisla-
lures now in session in some of the Southwestern
States:
The legislation Of The past three years having naced
na ma be h sss1 Of sn hs hank
ney secure and that neither The people Of State nor th
ec ne The most respectfully submits Ibis report
nendmen to banking laws ''' a or
~ IS the tinkefing and amending Of laws apply !
ng to banking, the proneness to add every year 7
mendments to existing laws that destroy conf. s
ence and unsettle the regular working Of charters
nd privileges, and seriously interfere with the
nanclal and monetary course of communities,
The annual return Of the banks of Baltimore
how them to be in fair position At the same
me the figures below exhibit the difference be-
Ween banking in Maryland and Louisiana on the
inst. The cash liabilities and de-
oslts-of the Baltimore banks were sl0,5ss, 625.
Tlth coin on hand to be s2,360s70 or about 22Jc.
er dollar. According to the banking statutes of o
ouislana' the amount Of coin should be s3,5ll2Is,
lat is, they would be out of line nearly million b
nd quarter of dollars.
From the annual report of the banks in Balti. n
lore we take these figures: .
Capital investments. Dsco,n,. y
inuary 1860. Slu325 an s1- an III ~
lnary 1859 0266St5 a73995 az, y
'huary 4 isos' lO,lbu3i5 3f2U36 lTSa26 l5 Y
nuary o. 1857 gT7T 6i2 a72 IL sMs9si 4
nuary 2 1856. "