New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-02-08
Nf6 Orleans Daily Grestsnt.
FINANCIAL AND COMMERCIAL DFpARTMEET,
gs@ 0rIfalls Hloaeu Market.
csEscEsT orr1ez, No. 70 Camp street

|
Tnesdsy Evening" Feb. 4, 1850.
4 The weather to-day was Of the pIuzjous orde
altogether, drilling and misty, at times denotinJ
change nevertheless, business moved on regard
less OF thermometrical changes, yet there wers
palpabe eTldences Of activity in the general money
market, Tor which references made to the bank
movement The offerings for discount in one of the
banks to-day reached the enormous sum OF 81 10 900
which = believed to be the largest amount ON re-
cord. The same bank, however, discounted $780,
ooo above its regular income. 1t ii Az plain as the
sun at MONDAY Though the sun did not make its
appearance today that our banks. if thew acceded
to all calls and requirements, would yerv sneed,v
have discount line Of forty millions Of ollars
stead Of thirty millions, the present line. Our bank
| directors nave an important duty to perform.
Ihey may encourage speculation by too liberal
use Oh granting facilities. The large calls on two
Oh 'he prominent banks yesterday and to-day indi.
cate that Inc germ of speculation is abroad-which
is conilrmed-that there have been purchases Of
eotton to the extent of forty thousand bales or
more on real speculative tendencies which NAV in
some measure account for the very large calls for
apparent local DISCOUNTS As we have from time
70 Tune remarked, we do rot care to what extent
operators or dealers for a rise may 10. provided
they work on their own means and capital but Il
is going rather too strong for Mr. to btry five ar
SIX thousand bales of cotton, and solicit bank to
advance on warehouse recefnts evan WITH ~
policies and ACCOMMODATING euarantea. for : e..
days cogtation, as it were.
The offerings of paper ON the street .5av ,ara
free, and notebrokers had free cali for tba;r
ties and resources. One partv nassed sso ooo os
next December and January paner al 4 sact
another party placed s25. 600 at "a and otbe,
t:ations were made at from 81 to soae1 Oct sor
good that is real good, and some oood aacona
class was placed at 10 53ct. There il a good ann.
ply of money still on lie street hnt 81, sro,td Is
speedily absorbed If tho bo,dars -,
the faucet and let it run.
The Exchange market WA \, tba so ,,,
The counter rate for checks ~ H. banls ~
steady at lla3 dis. Outside tbare ,vara t,a,,,,,
tions at from 10 tn 20 mn n sso ooo 80 s;s.~..
for double Al and otbe,. ,o,d .;oh. -
al discount The hanks made tha;r rat,,... - |
collections at discount yrhicb "a oho.t $50
working for nothing and finding 4ho,,saI,,oa
were yery few transactions II t;no I'M,
note few sales of SIXTY davs siobt N ,roao ~.
discount and other transactions at fron, oina.I
discount In sterling there vvas soma ,,aa1,,as- Il.
rates. BUYERS having the advantooo
clear bills from lO7s, lOsalOs 10s 80 bo.aY,ar
deemed an outside rate, Bank drafts for ra,,;t
lance were held at IosaalOsa n docnnent l;I,,
there were sales at 1914 with some favorte s;ana
lures at fraction higher. which vond ,,aoa a.,
quotations at 1064@l07s, but it must be verv
close margin to sell at IO69. Francs were rather
frmer, though large increase vas exnectad ~
the market to pay for the cotton nnrchasea m
Saturday last for account Of Hayre operations
The sales yesterday and to-day were at 4 o7l ( oeI
5.22a, which is an advance and makes extren,a
rates from .2sa05 2ll thonqb noss;,,,,,