New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1860-06-13
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FINANCIAL AND COMMERCIAL DEPARTMENT
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-35 q % q
CgEscEsr oEy1eE, No. 10 Camp street. |
Tuesday Evening, June IL 1860. 8 /
The general, and we may say the special money
and paper market, moved along to-day under sales
of various amounts Of paper, at from 81 o, I00l2
get. Some brokers had varied assortments, but |
the sales, as well as the offerings, were light, but
amply sufficient to meet all the money seeking in
vestment The offerings at most of the banks were
heavy for the season of the year, following the
sales Of upwards Of 100000 Of bales Of cotton.
ne ktlng season has arrived and 1t is mistrusted
that there are many kites lowering about-all will
probably land safe somewhere; but whether in due
season. we cannot say. New Orleans is a very
goou post IN fact, it is frstrate post sound and
solid, with very little sap about It. But there are
good many Kites which bring up here that have
nothlng TO iced; they may have a good long tail
but the great essential, strong head is wanting.
therefore, kite with long and pleasing tall
some haif-dozen endorsers-d Ia peacock, may
look very well when flying here and there, and
may please many parties through whose hands ii
may pass yet the post it viii fly against may be
something of a stonsh character. and clip its APP
pendages without ceremony. There is good deal
Of accommodation paper made up as exchange
1 now flying, and though New Orleans has telera-
BILE broad basis and strong foundation, yet there
may be too many kites and appendages flying
around, which may cover all. Some parties do not
seem to understand kite-fying. That venerable
photographer, DR.. johnson, gives the following
definition of kite:
bird e prey tla. Unfit, tle t4sn.s an siI siese,
paper fs ID he air. sasied 10 string
/ made Of paper 45g "a
The above definition is true it conforms to many
negotiations of paper which have been made dur
ing the last thirty days in our market. We do not
positively assert that some of the surplus of our
banks has been spirited away by these kites to the
detriment of our resident citizens and traders but
there have been too many kites lowering over the
financial skies this season. They appear to be ve-
racons and though they have been well fed, yet
| they continue to come and shrek fer more more
| more
The discounts at the banks and the sales of paper
on the street and through brokers amounted to-day
to $500 ,ooo-a tolerable good days business under
the very limited amount Of outdoor trade going on
in produce and merchandise
The private bankers and exchange dealers on
Camp street. or majority of them, have agreed to
close their offices places of business at the hour
of halfpast O'clock from and after the 18th inst
for three months. The question OF closing at 2
o'clock for three months has been acted on By
eight Boards Of Directors, and they have all adopt
ed resolution to close at o'clock P. NJ, provided
the other banks concur resolution of this
character is useless and 1t is virtual rejection o
the suggestion. This is the same ultmatum adopt
ed by all the banks 1--WE will do as the others do
Not one Of the banks, excepting the Bank 81
America taking an up and down position. This
bank says, 1--WE will dispense with the hour hereto
fore known as the evening" The other banks
that is not one of Them seem disposed to exhibit
courage, and say this bank will adopt the resou,
ton without any conditions The Directors Of the
Citizsns Bank the Board of the Canal Bank and
two three of the Boards of the minor banks have
adopted the resolutions, but they are all hamperet
with conditions. Possibly if the Citizens or Cana
! Bank should come right out directly, and say VIZ
,, will close at o'clock, the measure might be con
! sdered as final
! The Cashier of the Citizens Bank has taken. BIZ
departure on short excursion for Europe. Tn
President of the same institution leaves in day
two for the springs in Virginia. We think some
our leading fnanciers and bank managers requif
aud will enjoy little respite after many months
say years of close application to business. Til
chief executive Offices of moneyed Institution
cannot be said to be garnered with roses clothed
in purple.
The Exchange market today was stiff. There
4 was an active demand for Northern sight fund
even at prem, at which rate one bank sold owe
the counter 100000. At two or three banks the,
were selling at prem, under the impression tina
they might obviate calls for coin. Very little dom
in sixty days sight. We quote choice to good AM
fair bills at from &, at0l H9ct. dis; very Unite,
sums offering. There was good demand fo
o Sterling for remittance and other purposes whicl
was furnished at the banks at llDl, Il0560Il05
+ Outdoor transactions were light We quote 1901
l0940ll0. Nothing done in Documents. The sea
son for Documents is passed, and the business i
them must be transferred to the other side OF til
Atlantic, to be decided between the holder Of til
j drawees of the bills. Francs are taken in sinai
= sums at from 5.l2l@5.0s4, with bank drafts a
from 505G1500.
: We did not learn of sale of Stocks. Man,
9 stock and bond dealers have gone fishing. At tn
1 New York Stock Exchange on the 9th inst. ther
. were sold $4,000 of Louisiana State Net. bond
E at 9s-an advance of J9ct. over last sales
! The Boston Shipping List, Of last Wednesday, Il
s marks on gunny cloth and bags as follows:
ss 3 Notice s q g
l.ac mouths and u0 bales, 40 n rage less
Imports from January to June >
Bales .................... .gBa 55s1
Bundiest.,, $50 22S
GuS.Y GLorH.-There continues to be considerable nauir
for gay cei and prices fully n,tane SALES Of 50 bale
Offered bales for delivery short time ahead Bic