New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-29
Neb Orlfans 9ailp Grsstsnt.
FINANCIAL AND COMMERCIAL DEpaRTMgs \
Aeu 0rlsars Ulousu 3larhst.


CRsscEsr OFFICE NO 10 Camp street,
Tuesday Evening. Feb. ~ 1860.
As portended yesterday evening, the storm Of
rain came off to-day, preceded, however, by one of
those casualties which have, 50 far as cotton is
concerned, been very frequent this month. At an
early hour fire broke out in the sheds attached to
the Union Cotton Press, which destroyed some
thing in the proximity Of one thousand bales of
cotton-it may have been more and it may have
been less. The exact quantity win be ascertained
when the underwriters give theif checks for the
amount of insurance, as there were very few bales
destroyed not under insurance. The cotton was
under factors charge, that IS not having been sold
and the shippers lose comparatively nothing. Rain
fell through the forenoon greatly interfering with
outdoor transactions, and inside, in and about the
bank parlors. there was something more than
fair inquiry for money; yet the brokers-those
highly influential members Of the body financial
appeared to be very quiet, only passing some few
small pieces of long dated paper at the current
rates of last week. 4 year ago to-day we had to
note similar day of Indictment weather. The banks
are not expanding or increasing the line of dis
counts, as at this time last year. For the three
months ending the last February, 1859, that il.
rom ne iast q November, 1928, to the last Of
February. the variations in their movements were
an increase in deposits of 81 900, and crcuIa-
uoh u so'zeeooo; an increase IN Short loans Of
&C. ~ III increase 70 specie q Sz,5So594
~ saiiaeiohs VI tne corresponding three months
ls seasoh are ~ increase 10 circniaton q W I63,
W. ~ increase IN aeposits q ana an m
crease u specie Oh only solf,lef- Possibly last
year We nag more specie than necessary. We ore
very sahgmne that we have not more than suffi-
cieht ior ths season.
ihe EXehange market was dull to-day. 1t APP
peafed % move along IN unison with the weather,
thongh .here was lair demand Tor checks, with
tle DAMS On sew iorh az an IN prem, put very
ooil ~ 4. lnere were safes outside o. good COM
ihercial sight AZ an discount, ana Al bankers
dral's ~ pafeglIo ana premium we did not
learn OF only mooefate business doing in time
pllis. Il l WIFE some good bliis passed az II
discount ior Sixty Gays sight We quote from ls@
discount, but mere are extreme rates 70 be con
siaefed IN many transactions, and we have to quote
tfom l4egla ana l4eGz vet. discount IN sterling
we oiu hot learn Oh SAFE To-Day, nefher In clear
or documents. There were preliminaries for some
transactions, which will be confirmed. There were
no movements IN francs. we quote from 525t95.20
ana o.Ifs
IN pank shares there is very little doing. Two
parcels (5o shares each) Of Canal Bank stock were
taken at 1888 zo shares Bank of Louisiana at 179,
anu ~ shares q opelousas Kailroad at 63 Free
Datk STOCKS are awaiting the action OF the Legsla-
lure lhere were some reports astlr that the Com
ihitsee on Banks OF the Legislature had reported
uniaVoraply on the application OF the free banks
Inc report haa not, however, been accepted. II
tnere ~ no hlodineauoh IN the General Banking
law tne planters ana merchants Of the Attakapas,
te pafishes oi ot. mary, 81. Martn and Lafayette,
s 'o - aaioiAuiiichlS pIopuseu
before organizing the Bank of ST. Mary will IN
| a.o 49, :Hs .I.r 49, 80,
4 case there Is no reilef granted, have to abandon
4 +ha oon+a,nnIotad as..a;at;a,, j. 49,.
NA'e eoAee.i'pitso "a'oei1eohi 40 NJ pulh loCdleu
IN the country parishes can work under the General
Banking Law OF 1858 as it now exists. If the coun-
try parishes desire banks the law must be altered
winch can De zone Win the greatest safety as it is
presumed there IS no desire on the part of the
SOUND ana sod residents 81 the parish OF st. Mary
70 organize panh for speculative purposes that
- paper nachlhe. In me, they desire q bank,
put they CANNOT organize one mat can be OF any
service under the BANK Act OF 1853.
Inc inquiry is made, who VIII be President Of the
board Oh currency! we nave not heard OF any