New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-06-06
Ntb Orlsans Dailp Grg.sat. |
FINANCIAL AND COMMERCIAL DEP h..k.t
gsS 0rlsaus Hlantu q.
cnzsessr orr.ss. No. % Camp street,

CRESCENT ovrIox, No. 70 Camp street.
Tuesday Evening Jnne 8, 1850
The general Money market moved along quietly
to-day; yet the calls for discounts at one Of the
prominent banks were large; in fact, they run up
to prodigious sum for the season of the year, say
six hundred and sixty thousand dollars. The in
come of several banks was large yesterday, yet IT
has all gone again. Over half million Of dollars
was discounted at one bank to-day. This does not
indicate very cheap money market. When we
see Or hear Of sales daily Of good commercial paper
at from l50i8 Get, with other negotiations from
zogzf t'et cheap money, unless these rates, say
.'Vy1a get, which many people pay, ii next TO a
aelnsion. The banks are receiving no accession to
1ner specie reserves, and though they are in
stfong position, they cannot extend the line of dis
counss-now 10000 000-much beyond. II tho
discount line remains at this line 80 much the bet
ter, but calls for coin will be daily made. There
was required for CustomHouse purpose. ffor
duties) $4,000, and the like amount NAV BE- Re.
CURED this month. The weekly receipts Of silver
coin and bullion can only be regarded al nominal
reserve; that is, when these receipts do find The
way into the vaults they go in in the same light az
cotton goes into warehouse on storage or deposit
to be disposed of the same any kind of merchan.
disc, s5s8
The exodus of our citizens continues they are
leaving by every conveyance !; they take with them
good deal of money. One thousand people leav.
ing per week, and If they only take $3.50 each on
an average, will count up to toIerabIe tall figures
when footed up for month but the amount car
med away BY each citizen can be placed at $500,
and many at $1,000. In fact $40 900 900 have
been taken from this good city of ours by transient
and other citizens within the past sixty days.
Whether there is any thing movable or immoyable
left behind to represent it, is very doubtful. To
these figures may be added the large sums due
North for commercial transactions during the sea-
son However, we, the great South, can aid the
Northern operatives and manufacturers without
dspossessing ourselves Of the many privileges and
resources which we enjoy.
We have nothing at all to say about bonds and
bank stocks; there are none Offering under the
figures which governed last weeks transactions.
The dividend season, which is now approaching,
Will be fruitful one; oil the banks viii make the
usuaidiyidends, some more but none less than last
The Exchange market is firm and steady at
premium for checks in limited sums at the banks,
Large sums were held at premium The buying
rate at the banks was at a@a prem. Outsiders
will say, why cannot the banks sell at lower rates
At the same time there is not one remitter In ten
who will invest in street BILL but forces the seller
or maker Of it TO go to the banks and then expect
the banks to sell checks at the same figure that Isl
compelling the banks to act as implied endorsers
and guarantors of their exchange business. We
note some sales to-day Of thirty days sight on New
York at dis; sixty days sight at a@E dis. Also
some choice drafts at a@s dis making the extreme
range of the market rule from discount down to
lGla dis The most Of the sixty days selling is
between 4@l get discount. In sterling we note a
further advance. Clear bills were purchased at ITO
ranges of the street were from 109a@Ioaa to llo.
The banks which were drawing ask lloa. In doc
ument bills we did not learn Of any sales. we quote
from l0s4@l09 and 1904. Francs scarce. a round
sum Of francs at sixty days "a bank draft) was
taken at SOS, and some sight in small sums at sec
| "a tolerabie tall figure.
The value Of exports Of produce from this por
for the quarter ending on the slst Of March last
are larger thaggrty noS record. The increase fol
tue three g g the unkRe fiscal year Of lsS9-'eo i
neafly man Watson, at &c three quarters Of 1857
,eeph street and we have srrts rsn,.a
this stabbing did not take place ber 70 1s5e e. 20
that if it had, the men her i ~ 1859 e sss q
's sss'. 81 &c sPas - 80 o.
Exports of Domestic Produce frfy ne Port and Dis.
trict of New Orleans for the third quarter Of the
fiscal year 185olo0 say from the LIST January to the
ct arch f.rn1 = Il |