New Orleans daily crescent., 1860-10-12
Ns6 0rleans 1ailp Crestent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
Neb @rItaHs Monsu Tlarktt.
CREsexy1 orrrer, No. 10 Camp street.

| g ihHHus5 Evening, Ort H. 1850.
| The money market moved on to-day with some
thing Of the feeling evinced yesterday. The ealls
on the banks for discounts were heavy. Al the
An. they were very heavy for the season Of tbe
year, iatss. beyond the income not only largely
t,st more thaq ,fouble. II fs supposed that prepa.
ratioas are made i,cr payments maturing weeks
Northward, we can oniy say. remit 1t at once,
square accounts, and not give those Northern folks
opportunities Of saying, "we have trusted the
South, and the South has not paid up.n The sus
pension of large house in New York connected
with the Southern trade, has been made tie target
for many inuendoes and numerous assaults on the
part Of the Black Republican journals in that city
As we have not seen the balance sheet of the firm
in question, we cannot say how much eredence ia
to be given to the assertion that all their debtors
are in the South. Though large share of the bu-
slness of Lanes, Boyce & Co. was with the South,
yet it was chiefly confined to South Carolina and
georgia consequently the sputt in general is not
implicated in the over-tradins of this firm. The
liabilities Of the firm amount to one million and
quarter Of dollars their assets are reported to be
worth s2,250.0o0, or surplus of nsilIion of dol
lars.
| This shows the very loose wav in vbich roanv
Northern houses extend the credit system. We
will take the privilege Of illustrating: trader or
merchant in the country who could not obtain in
this city New 0rleans) credit for much over one
thousand dollars, goes to New York and obtains
merchandise on 6@12 months credit for ten to
| twenty thousand dollars. He may be successful
a nav mn, md han he Il
ed in the statement of Lanes, Boyce s. Co. that the
South has not paid up. We have only to remark
that Southern merchants and traders had better
have remained at home.
We do not think that the house of Lanes, Boyee
& Go. had much to do with louisiana AS their
failure has attracted more or less attention from
the press, we append the following circular as
forming proposition for settlement: @
as Witch 81 conmss Saaass u Was seoe eo
posed q the be following gentlemen, viz
James Low, Of sessrs. Low, Hartman Co.
aehsss aesss sssss HUNT m TasEass hasEss c. c.
yard nGts sIs1 Of & ysssss Msss: WIN Lens
After mi and careful exnmi.aton Of the affairs Of said
opinion Of the Committee that necessary for
propositions should be the creations Without Sslay
the members Of said Committee and application for
t Propositonur notes at g. IL and il non,b w M inter
est from Oct !, 1860 without security, in full. III
4 from Oct. |, 1860, secured for 65 fact.
We benighted folks don't understand how
house having assets to the amount of million of
dollars more than liabilities should make propo.
sition to pay only s. get, or compromise at So
get. off on 4, 5 and IL months. We don't under
stand such suggestions. We are are not prepared
that of this hnuuo aIto,,
ther with the South. But the South embraces
large extent of country. If any Louisanians. Mis-.
sissppians or Texans are indebted to this firm, we
urge them to come forward and pay up at once.
Do not give the Northern agitators an opportunity
to say that the South has not paid. We also add
and recommend to Southern merchants and traders
not to go North hereafter.
The money market to-day presented nothing for
than remark. The feeling towards paper was better
on yesterday. Though there were no large negotia-
tions or sales OF paper confirmed, a round amount
of nearly 100000 was taken by two parties at the
old conventional rate of interest, which, it is pre-
sumed, means 10 Sact. We quote the general street
transactions as being somewhat on the infnitesima
order. The general run of good and solid factors
paper rules at IL get, which will carry second and
thirdrate names up to 2O124 get, and any indyi.
uuai WIZ W 10 LlS rate OF uSance
may as well knock off and retire to the walks of
private life.
The demand for Northern sight funds was free
to-day. The counter rate for checks on New York
was steady at par, with one bank asking an ath
prem. Outside the rates ruled from 1-l60k and /
dis with very little Offering Sixty day bills were
something on the impromptu order, that is, make
an offer as it were. We quote sixty days sight on
New York at from HOLY and yet. dis down to
24@23 Yet. dis. In sterling there were sales of
clear bills on London direct at 1917, making ex.
treme rates to rule at from l07}@1oS and l0sl. In
document bills there were sales at the reduced rate
of 1869. We have to quote these bills from l0629
l073 as extreme ranges. For direct remittance the
rates range from 1Os3@1O9. Francs very quiet
We note that the asking rates on Paris direct for
good bills to be 5.22a, and extreme rates for all
grades of commercial bills at 5.27A@5.2l4.
There was nothing done in stocks or bonds to-
day. Holders of dividend paying securities have
no desire to sell.
CONNER CIAL.