New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-02-12
yFtn Orlfatrs laiIn Crescent.
FINANCIAL AND CoMMEReIAL DEPARTMENT On
Atn 0EIsaNs gELuntu HIarket.
onEsonsr orEIcE, No. 70 Camp strsst. /.

Monday Evening, Feb. II. 1851. :
The money market to-day was in unison with the
weather. pleasant and easy. Cotton was in favor
though at prices in favor Of buyers when compar-
ed with rates ruling the early part Of last week
In and about the banks it was quiet. The calls
for discounts were less than the income. Some Of
our banks are in want of good paper maturing
within sixty days; they have more coin than they
will use, yet they must keep it on hand. There
are calls daily for it, or the increase for the past
two weeks would have greatly exceeded s550000.
There il a great deal OF coin called for to meet
balances due planters. This goes by every boat,
and though the balances are not large, yet few
thousands by this and that boat up Red, Ouachita
and Yazoo rivers counts up largely in the aggre-
gate. Though the specie reserves are now large,
and sufficient for any purposes, yet they ought to
amount to nearly $l8,000,Oe0, or million above
the amount of Saturday last Tie time is rapidly
approaching when the question can be tested, how
little money will be required to conduct the bust
ness of our city. Capitalists and dealers in paper
are in want of good papers brokers are searching
daily for it; but in many cases they desire only
such as is not not be had, that is, the paper of
houses who seldom have any out. On the whole,
we suggest to dealers and capitalists to take any
paper made by cultivater of the soil, sugar or
cotton, drawn on and accepted by any party gov
erned by probity and ideas of punctuaty, and who
are not too self-important to attend personally to
business. In the meantime, we have to remark
there is large surplus Of money in our midst now
seeking investment, and more expected.
The grand fulcrum of our trade, the Exchange
market, opened to-day in about the same feeling it
closed on Saturday, with good supplies and good
demand with dealers. The counter rate for checks
on New York was steady at the banks at dis,
| and round amounts at discount double AL out
side under brisk demand at J discount other
good commercial sight and one days sight 5(11 and
discount Rapid sales of sixty days sight at 2t@
81 discount for Al, and 21@2i discount for good.
Sterling was taken freely at 1o2@1021 and 1O3
Bills with documentary evidence were sold at 100
| ll00a, with an occasional sale at 101 and above
| but ruling from 99A@l01. 1t was bruited about
| that downtown bank took largely on Saturday
/ at 1899 for clear bills, while outside buyers got all
| they wanted at 102@l024. Who was stuck, is
asked of US, and who did the sticking? Francs
were nominal to-day. No sales to our knowledge.
We continue quotations at 5,60@5.55 to $50.
| The annual meeting of the stockholders of the
Louisiana State Bank for the election of Directors
was held to-day. The following ticket was re-
| turned
! ]. NJ Lapeyre, President.
| R. Brugier, sugar factor
| T. G. Twichel retired Western merchant
| J. U. Lavillebeuvre, retired grocer.
| Elijah Peale, of Henderson & Peale cot factors
| John A. Stevenson, of Frelsen, Stevenson s. Co..
cotton factors.
John R. Shaw, of Benoist & Shaw, exchange
| dealers,
G., Olivier, cotton and sugar factor.
John j. Adams grocer.
There are some changes from last year. Three
| of the old board retreJMessrs. Brother, May and
Carroll-or rather an interchange between the
! principal bank and the branch.
| POSITION OF THE BANKS OF NEW ORLEANS ON
Saturday Of ereFy reeh, commencing H The financial
Tie eii4 lie Is nLu