New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-07
aen 0rleans zilg Crestsat.
Fi5tHGI4L And g01fNERGIaL ng EE''''55EF
eD 0Slcars HIoatE aEatAtt.
oasseEs5 E51sS g2 y q s. M esres


The money market to-day was characterized
with effects of the paper read two days since
in the ten miles square of the District Of Columbia.
We did not meet with buyer Of paper, nor with
pseudo capitalist that had the courage to operate
only under the closest restrictions. The curtail
ment Of general business IL going on and money Is
destined to be something Of q yaiHsIess commodity
above pct. Tie general paper market is a non /.
est. Some few planters drafts on factors are
offered from day 10 day. and when of the strongest
character, they are readily taken at l0GD12 get.
It cannot be concealed that the money market is
Influenced and operated on from day to day by the
state of politics at Washington. This is confirrna-
tory that the dealers and buyers Of paper in New
Orleans have more feeling for and sympathiZe with
other localities than with us. We are aware that
there are many wealthy citizens in Mississippi and
Louisiana who have been dealing for years in
paper based on cotton and sugar at rates OF inter
est below solo get. Why Is it they do not at this
time investas heretofore Have they no confidence
| in the great staples Cotton and sugar} that they
should refHAs this season the same description of
| paper which, they have been purchasing for years
| past? We cannot discern with double-aet glasses,
| and with all the optican science at cur command,
why cotton planters drafts their factors should
not be held in the same estimation that they were
twelve, twenty-four or thirty-sx months ago. To
| be brief and cut short long story, we reiteFate
| the impression that q majority of the SO called
capitalists. buyers of paper, who have yearly.
| operated in our market, are possessed of very
| dninutive ideas, or otherwise may be termed the
small potato capitalists. they have not got any.
money, it will be well to say 80 at once, and not
call into use the every day slang Of political troH-
ble.' They had best take their money and traps,
and depart for other chimes. Among the move
rnents Of the times, we notice that Northern
stakeholder in one of our banks (the Mechanics,
and Traders') has sold 100 shares of the stock at
a91 whether ne wanted the money to lean the
Black Republican Government at Washington, we
cannot say; but it is in evidence that his firm was
subscriber to the late loan on account Of the late
United States to the amount Of Si00 0a0 direct. 10
is none Of our business what owners of hank stock
consider their shares to be worth. But we are
very sangune that the shares Of the Mechanics
and Traders Bank are worth as much on the books
as the shares of the Canal Bank, in which Canal
Bank the seller of the 100 shares Mechanics is a
large stakeholder and its agent in New York.
True, these 100 shares Mechanics might have
been pledged for loans. OF this our ariel has mol
informed US.
The Exchange market to-day was somewhat ex-
j cited The counter rate for checks on New YerH
was advanced at the BANKS to par. Outside double
AL drawers held at 1fD1 discount, though some b
the banks did pick up some small srrs at s3a dis
Five days sight ranged at ] discount sixty day
sight 1902 discount down to 2I@24, Very few
takers or buyers. Sterling advanced fully i. N.
note sales of clear bills at I04DlG44 and l0tff
Drawers for remittance asked l05. Ellis wit
documents were taken at lf3t8tG34 up 10 1881
The market very firm and tending upward Franc
in some measure felt the upward feeling. III
continue our quotations at from 5.55&05A ~ up I,
$40.
A good inquiry prevails for some kinds Of stocks
The only actual sale to-day to our knowledge wa
40 shares Louisiana State Bank at 1929.