New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-09
Ue@ Or4euns 4aiIp Grestent.
FINANCIAL AND COMMERCIAL DEPARTMENT
gttu 0rltans dtlmty 1larhet.
cREsoEHT orFIcZ, No. 10 Camp street.

Friday Evening, March ), 1911
Inc Money market was quiet to-day. There is a
gooa amount Of money seeking employment, but
holders seem to think that we are to have further
pohticaI disturbances, and pirate away as though
cotton and sugar will never be wanted again.
Ihere were more moderate expressions to-day, and
desire evlnced to take long dated choice com
merclal paper at the rate of 10 pct. Here is the
mitch buyers of paper assume to class the paper
offered, and at times are the very antpodes of sell
lers. Some capitalists will say to brokers, " bring
me good paper and I will consider meaning this
or that house, which have not a dollar of paper
ou1, ana which very often cash their own accent
ahces. buyers of paper do not seem to recognize
that there are many old firms, who having realized
weIl-to-do set out" have no further desire to
buy business, as it were.
we nave to suggest that capitalists and BUYERS
OF paper should extend their standard. There are
good commercial securities which are intrinscally
as good as the "selected names " now soupht FIR
which would be issued at from 12al35 49ct. if
buyers would intimate they would be received
with favor. The course now pursued by owners
Oh money is testing the question, chow little money
will be required to conduct the business of New
Orleans" Choice paper-what is the definition of
The words! There are large sums of unemploved
capital here. The line of deposits in the banks
confirm it. If the holders of deposits would invest
IN manufacturing securities, Or assist in developipp
the resources of our State, in agricultural, mo.
chanlcal and industrial pursuits, they would he
dong an immense good towards the prosperity of
Louisiana and assist in establishing the indenend
ence OF the South. Tt is hoped that they will be
prepared to take largely and freely of the Bonds
OF the ind Sta+n
then ascertain how the procliYities of our caDital
lists lean
table of quotations of the paper market tbis
evening Will not be of much service. Money is
aVaiianie' Inc upper ten' rates range from 10
8lZ get for choice and good signatures l?Ml5
get Tor good to fair. First class mortgages lOc0Il
tscS' lhonGh loans Tor term of years irstclass
mortgages may be realized at from 961lo Rct.
There was very little doing among the tonsoria]
gentlemen. A few sales of paper are made from
day to day at 1a0D2 Oct. per month, with casual
operation going little deeper, taking 202} per
month on short-dated securities These are about
the last New York quotations, they being 246e3G 10
CT What regular business will JUSTLY these rates
Call loans rule at from b1f pct. per day, in sums
OF five Or ten thousand dollars. Borrowers at these
rates pay up very quickly.
Inere were large offerings in exchange to-day,
with downward feeling in rates. The counter
rate at the banks for checks on New York was 1
discount to par. Outside frstclass ruled at from
t@4 discount. Two of the banks picked up some
good sight on New York and Boston at ! discount;
they would not allow any more under the large
movements in cotton. Ten days sight was sold at
discount; thirty days sight at II discount; sixty
days sight at 2l@25 discount; good commercial
bills -, though there were some Jockey 60 DAYS
to be had at lower rates, say from 24@22 and
discount. Sterling was heavy. The banks were
out OF the market in some respects The sales out
side were at lO3@lo3! for documents and lO43@
1919 and l044 for clear bills fraction higher for
remittance, and for bank bills LOG was asked
There was tolerable amount of francs on the
market, say l,5O0, 900, which were offered at 545
could not be sold better. We quote from $3.50
5.45, and for small sums something higher
There was very little done in stocks to-day.
Some negotiations made yesterday were confirm
Wa Tnnta