New Orleans daily crescent., 1860-12-04
0e6 Orleans aailu Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT,
Ntu 0rltaus muneg Ilarket.
cs1.o.sI o,.Icr. No. % Camp ..rss..


GREsorS1 OFFICE. No 10 Camp -tree, Z
Monday Evening, Dee. 3. 1860.
There was something Of an improved feeling to-
day in some circles over Saturday; not that any
relief or mitigation Of the pressure has taken place,
but there was something done in cotton, arising
from the purchasing Of exchange by one Of the
free banks to a moderate extent. But cotton rules
at low prices to what it ought. At the prominent
bank discounting to-day there were only moderate
offerings, not half the amount Of the income but
possibly the bank discounted and purchased ex-
change freely last week in anticipation of large re-
| ceipts this week. 1t ia supposed that tomorrow,
| the 4th, will be heavy day for payments. Our
impression is strong that the mercantile eommu-
nifty will come out much better than expected
| that there will not be many suspensions as ex-
pected or predicted. 1t was premature for many
people to be hourly inquiring to-day" Well, who
will stop Tomorrow ~ tsWho goes next?n all
this and that-and such inquiries as '' What is the
| news from New York? % So far as financial and
commercial relations with that city are concerned,
We begin to think that the world outside Of that
metropolis, particularly the great South, has been
essentially humbugged Our great community-in-
! dependent it ought to be-has been waiting on
| New York for several days. But Wall street and
| New York in general is cornered, and had New
Orleans line Of steamships arriving and departing
weekly from and to Europe, New York would re-
| main in the corner.
There are some sums Of gold expected from New
York this week. 1t was in general very quiet and
| calm in and about the banks. The sauvty Of man
ner, the general courtesy of the executive officers
does not fail, though now and then rough answer
answer at all is given by an executive officer
not many miles from Camp street. It is hoped the
bank in question will have delcacy in requiring
some of its balances to be RENTED in gold from
New York, or whether these balances cannot be as
well used in New Orleans as in Wall street, New
York. though bank checks have not yet been offer
ed over the counter Of the bank at u dis. in pre-
| ference to ordering gold from New York, for fear
of disturbing the equanimty of some Wall street
| financiers.
The exchange was not blank to-day. There
were sales of bank checks, drawn by one bank to
another bank, at dis. There was very little in
quiry at the counter. The rate was almost nom
nal we however quote from a99 and discount.
Outside there were sales at IL, II, Ii, II and II
dis Three days sight ls@l2 dis. for Al. Sixty
days sight nominal no buyers; AL on New York
direct offered at get. dis, and declined. Our
banks and dealers prefer Sterling and Francs to
Northern time bills. There was more done in Ster-
bankers credit AL at 9s, other transactions at 81,
and still further transactions at lower rates. Some
parties were offering 94t095 for documents Francs
ruled low, with some sales at 5.75@5.70, though
575 was the highest offer for Al on Paris direct.
We have to quote extremes from that to 565.
Though $50 was talked Of, we could not learn of
any transactions at that figure.
Taking all things into consideration, the general
exchange market was under much better feeling
than on Friday and Saturday last, and things in
general are not near SO dscouraging, 80 bad and
depressed as in 1857 ; and as for 1887, there is no
comparison. They were, as one prominent banker
remarked, ten times as bad in 1887. 1t will not
answer to talk of 1860 and 1887 in the same day.
The great South will come out strong enough.
Since our last the house of A. NJ. Hopkins Go.
has suspended payment. We are not sufficiently
acquainted with the situation of the firm to say
whether it is failure or q suspension.
REruns OF IspIt BAesISe GuSsr cEorH MaRKE1
for the month of November from j. NJ. Burke's Office
NEW ORLEANS, Nov. 30, 1860.
b - -. Including cargo of ship Empress y
KEsTueKr BAcGIsG-stock.. Pieces 46l
Machine s25 coils Hand eo1s
M LIyERsooL ssLrastoek siock--S2l. .lQt
The irregular give quotations he
| and are confined mostly to the trade
The great financial movement in New York has
just turned out nothing at ALL 1t was one of those
expedients which mean something and end in MOTH
ing. Sterling exchange cannot be sold, and money
ruled at as high rates any time during the sea-
son. Our latest dates are down to the 27th stocks
were then declining, money growing scarcer, and
they were all getting tremendously alarmed at the
political movements in the South.
From Boston the accounts are pretty much Of
the same character. The specie in the Boston
banks has declined to below 81 ,0000 000 They are.
however, used to paper money in that region.
i The New York market of the 9th was in the fol-
lowing condition, including the bank returns of
1 Tuesday last:
The bank statement of this day compares as fol-
lows with that of last Monday
sSz 'ss e - sfsss sssiE sls
Decrease. 5 1850 7o5os7 $3.50 2,i5s s6l
The discount brokers have done pretty fair
business in paper to-day, at rather stiff rates. We
quote irstclas short at 9@l2 58ct. long paper /
92 yet: month; names not generally known, all
kinds of Irregular rates. 1t not easy to-day to
z borrow on stocks The banks will not lend on
them, and until the stock market evinces more
signs of stability private bankers rather shy Of
them, too. 1t is evident that the public have not
yet made up their minds as to the working of the
new bank policy. In the course of day or tive,
probably, they will be better satisfied on the sub
Ject, and the rate of monsy will decline.
4 A fair business was done to-day in foreign ex-
change, the basis of l030llO4 for bakers bills
and l004102 for commercial signatures. The mar
ket shows marked Improvement since last week
We quote francs at 540Q0545. Sterling bills at
Mobile and New Orleans are offering at lVl.
l. 8eOieo Of tbe NlMAets. y
CRESCENT OFFICE, No. 10 CAnP STREET
Tuesday Morning, Dec 4, 1861 /
CoTToN. ...A fair demand prevailed yesterday,
and the sales embraced about 5000 bales at prices
too irregular for general quotations. hiddling 81
@9ae. % ID.
| STATEMENT OF COTTON