New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-04-27
Neh 0rIsaas 1ailp Grssesrt.
FINANCIAL AND COMMERCIAL pEpaRTMRNT
asbo @rIeans Hlolasu Markst.

cC1FtsO NOSAshtsS ~Ekssts& @ysbttbs*t L
-s Y
csEscxsr orrscx, No. 70 Camp strsst, 4 |
Thursday Evening. April %, ls8o.} |
Nothing Of an important nature turned up to-day
in the general money market. There was rather
more inquiry for money, that is, there was more
paper offering, without any enhancement in rates.
Several large capitalists have got through for the
season; and of course, have nothing over for the
present, and will be out of the market until after
the LIST Of December next. The offerings for dis
count at the several banks continue large; posi-
bly, applicants offer about three times as much as
they require to enable mandators to make a |
choice.
The general Exchange market has taken an ND |
ward turn, which Is very nnfayorabIe feature for
the present; it may not in the end be productive
Of anything serious bu. it looks ominous under the
large stock of cotton, with other productions, |
which ought to keep the market in favor of New
Orleans. The counter rate for checks ON New
York at the banks was steady and uniform at /
prem; firm and etif at this figure outside, and not
much desire eviaced 70 sell large sums at the rate.
In sixty days sight there were two round sums
closed at II dis and divers other ANAL bills at 1.
OH discount for good signatures. The best of
sixty days towards the close Of business was held
us sN1I Wv. uio.s ahu SUou " ian ~ rum
and II get. dis. In Sterling the feeling was up
ward, though large operators were very shy about
taking to an extent at higher rates than ruled yes
terday. We quote 1Oss@10ss, making extremes
for clear bills at from 10ss@l094. In document
bills we did not learn Of any large sales and quote
at from 107a0l0s. Francs were scarce, and out
side rates were from 5.22sG5.l5, which is equiya-
lent to 5.15@5. 10 for bank drafts Paris direct.
In fact, the general exchanges on all places, or
with those places with which we have connections,
are turning against our emporium, which indicates
there is a great deal Of money due from our city.
With the large and well-returned products, say
2070 900 bales, community. instead of being the
debtor, ought to be the creditor. The demand for
Northern funds to-day was strong, and ready sales
were concluded for large sums within the range of
| our quotations for sight drafts and bank checks.
| In Stocks we note sales Of 100 shares Bank Of
| New Orleans on PIT; 10 shares Union Bank at
| par, and so shares Mechanics and Traders Bank
at within the range of par.
1 The suggestion made by us for the banks to close
at the hour of O'Clock from the LIST of July to the
last of September is met with favor, as more than
half Of the Directors Of the several banks will be
before that time route for their summer recrea-
L
sence, with or without permission, that Is, nolens
uoens they will, of course, be liberal and con.
| cede that their confreres who remain will be en-
/ titled to some relaxation. There does not appear
4 to be dissenting voice to the proposed measure
1t will not in the least interfere with the regular
business, and by giving due notice the community
will fall into the measure without the least incove
nience. The insurance offices have for some years
past closed at an earlier hour and in fact all the
n business of the city can be done between and 2
i o'clock for the three months. In fact as regards
that, every dollar to be paid and received could as
well be provided for in four hours. As there can
not be any serious objections to the measure pro
posed it is hoped the prelminaries will all be car
ried ont at an early day. From appearances, we
come to the conclusion that business will clos,
fully one month earlier than last year. True, their
. is good stock of cotton to be disposed of, but
is doubtful, very doubtful whether it will all b.
offered for sale. The impression is general that
heavy share will be held over.
According to the annexed statement, which /
taken from the Boston Shipping List, the imports
? ton OF gunny cloth into Boston since the lst 0
January last show large falling of for the col
] responding time last year, and q much relativ
: higher scale of prices follows. There have bee
! four eargoes, or parts of four cargoes of gum
cloth and bags received here. direct from Calcutta
this season and with only half supply of bag
ging from Kentucky, there is an indication Of
: further advance. We hope, however, there will b
! nothing of speculative feeling follow the appa
rent deficiency. Dealers in the article (specua
tors1 will keep quiet and the first thing planter
and factors will know, will be advance of some
! thing above 1D2c U yard. As for rope, that j
not matter of SO much Importance, because irol
? hoops comes into competition, and any falling Of
in rope can be made up by taking the hemp an
! making bagging Kentucky bagging sold yea
! ago at 12A@15c. now it sells for 150l6e. Indi
/ gunny cloth 12l@l3c.; now commanding lac
l5c. Bale rope, 6A@7 cents now 7a8s cents
with iron hoops tending downward. It appear
that the costs of raising cotton this year will
, fully 10 get over 1859 or 1858. All the necessar
I supplies for cotton estate have increased with
one year from lot9l5 Set, excepting iron hoop
. and ties:
BAGsTlere continues to be considerable inquiry
gunmy bags prices higher Sales Of Al
bales the spot and to arrive 1Oc
months 100 bales, 33 lbs at Sic less act.
200 bales do on private terms
] Imports from January ! 10 April Il.