New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-09-02

ooa tse huie oil Ire month New York sight advanced froI
@5s Rc discount TO par and an premium and sixty day
sight at from ct discount The extensive operations
cotton keptthe market under in supply The transaction
during the second aud OF the month in ocumer
ells Were large at iVeVos ana III clear bills at 1880
icS Francs faled at OBJ to mp to 221s As the mont
arrival Of additional buyers of cotton VIII
entered the market freely Whenever they could negotiate TIL
supply Of Bills Of all kinds and grades became abundant TIL
market closed On the last day OF the under the following
rates: .,4sitf
hank Checks on New York .paree discount
MIR, stnbs
Sixty days sight,. -. =. x and 2s dis
Sterling with aoeunen lUt aoT
Fr s ~ s,is lgSS
Francs on ether points . !. IS 81 is@r5,2T1s
The poiop Of The hanks on the ast Saturday Of the aor
the s7th Of October. was is follows : g- 81, :.
- IIApfIrTYrs 1859 ii ASSETS
Gircplaon s. lS3 i09I Specie. $40 cas- 69
~, 49, ~, w al
i - - n ~ --S-z---i -
Sass o29l SIS 40, eS5
u f ths ,rnb % 81 qss oss
s Al ae n was a.ft nle with coosiarab,
.,+nrh.on The pra.+ sjection sas 4n,roocb, nr TN 4.
rod ,,o,- 3,.,, a,,4 s,f,n ~ H., t n .
ana we'd men in general refraf fo,
i,t, sny large engagements Ths ot;cs1 i,atto ~ ~
,r o,,,,-- lad on ;,,n,r,nt ,o,;, r;., e.. tf.,
SoraJsnce as we'll sustained Tba n,; Mind - t sas
long IN suspense Tuesday the Eth Soye,oh.r so,e5 ft
of The hen United States of North America The of flat
dar went to rest on a ,onn,ed aud Irnio JTd 5
reeeps a. cotton wifi, a free and aetiye demand ,ba nancial
fha
| DAYS os die r,cntb n a 5f;bi M.
was trouble ahead On, Confined 10 ehsn
1er,sf and viii, i,nort ations az coin row ,bro th @
srs 1s
/ s.'z1. ' s e'u - asHsn' wen se'ef'i suspect
sons Of payment occurring The SUSPENSION of payments how
been on BY Of e sessossanasr ravisw ~
Following The election general ,easiness III noneyed cir
cies continued to Exchange about thu, middle Of the
month dead bait Heavy the part
grant very crest extent and ais, commenced re-
sretaa and eurtaling ber general ns Of asoonn,s Grso
exceent agitation commenced political circles and
before send ne month settled determination 10 sub
mt n g she lincoln prevailed. About The
the great dieny n NEGOTIATING exchange supsadded by
sonh constant charging of the gepat secession move
meat pstylst and 1napprelens0n seemed 10 Have taken fo
minds OF our leading citizens None, hecnn,e
in active demand rates Of interest dyance to IL aud a
ct for negotiations and frclass short
up Is, while confidence good mortgage Securities was well
maintained ranging lUl2 ct The banks were
pressed large Offerings much beyond their ability to grant
At the same time they acted literally 10 Tie community hdapb
they they carry the entire facorage
c3tn,nunity through then impending crisis
The foreign adyices received during the month were Of
vorabie regards cotton. But these good advces were
in great annulled and had to submit
the difficulties and downward action Of the exchange market
10 US very 9w fss Of ooS for clear
per cent discount evE sss92 a. g@ta.
On the 18Th Of tha month we wrote for daily
follows s- r ..-, -
T. fs d s h seo Of
- y ~ Il RSS 2E
eomnsIeial md financial N Fool New Work which
sr Oh ri eoeeSsa WI, IT, me excitement and
localities and on tne particular branch Of finance exchanged
shnm3Iaiing Wi, Witness os HI a AZ influenced y
market oyer The South Which is now ended al
th NJ, wiring Angust. lsbi
duet lie great cotton trde III To- he spdepad on con
sauls the controlling power commerce of the is
nov anu 10 fe% hundred bankers job
times within lie iasr len " rst severn
70 halt by its too great reliance and uservency New
G
All the above we happy say brought to close
On the 18th o. the month intelligence received that the
banks Of Memphis had suspended specie payments This move
ment had special bearing market banks in vfr
gna suspended about The time Specie began to come far
ward with considerable freedom New York which had
effect the exchange market During the last week of
the month there only suspensions The money mar
ket however Continued very close With rates of interest
at from 10 to % per frstclass securities
The exchange from free sales of coton
ahdantly supplied and closed drocpng and in a
completely broke down in the last yee4 of he rn
lowing we're the rates the last day Of he month
~, -a8..Yfso.s ~ VA rt 2 + ,,,, .
Sight drafts No. . - : ii ~ d dis |
Sixty days ...3@3s 10 IL ds
Dos+asn,a s $50 100
Francs. i 75ESS Al |
The ,,ositton If N. ba,,, ~ ~, Ia. c,,
2I.h Noysnber va ''N VI WIG A'ON'"'
CASH 1IintIy,rs ~ asa .vns
Circulation 7is7, 239i Specie O,l 8s1
n Il Ninety days PAPER al 224
= = - $500. Npse' ' :. 500 o'l9S'o't
"a S236t3, 562l .--st-... -- SIS, $40 90
The total amount of loans and discounts was S2i
with The n. NTH Of Decen,.sr the vss.ss;o
10 monopolizs the minds of the neon,a T,,e, @ NJ
that majority of our citizens commercial enanci, ,,,;f
ID fact of every class trade and ntoteson were IL f ~
Immediate action An extra session of tina bad h
.slIed IteonyaIeda at Baton R6ppe on the OF Nndo 80
month"; and passed an ordinance for ,be calln of
d consider on te ab orhsp opest,n or se.essio c,1 g.
lima had aready passed an ordipance If soces,,
,su drsn Mt Wa,,inpton was in ,or,a bfno, of r;t.
with ali Tia Ss4;,a,ion dsv3 ,.aons IA ~f $3.50. s
tate of affairs troro tia I,io faranda ~, Az 81
OOH in ma ,es il was M, nseI tt nv
honld pass nadistn,heJ r1Serer ,t, ~, - -,
December there were "a yeral snsnenso,s brnb ~,
loo free ADVANCING and accant;,,, "a - - ~, ~ -,
rar,nnn, AZ, - -. ~, q ,h, :, - ~
rate of interest an frst cln,sEfsll ,Sn'i ~ - |
Bet and other grades ~ 9lat 10 :, 80 ~ -
sibIe for any regular business IN stand mn naa he
Tomato rates was evident that Tho old hsoto, tr. A.
nerca prudence had been violated ap, tI seG,e, - t b
Circumstances began to arise and facts laal, az. ht @ -
rurity was owing upwards of sian nm tboto roL
If the paper issuef WAS held by Nor,her, and yss+
capitalists and other citizens too numerous for no a. ,,t
The pressure for discounts and loans Increased ,b "a