New Orleans daily crescent., 1861-03-14
Ien Orleans lallp Ctestelt.
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FEaANGIAL AND COMMERCIAL DEPARTMENT
gsU ORLEANS HIoutg gflmket.
CRzsngHT oEFIca. No. 10 rfan7p street..
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WRlFes 10y Evening March IL ieol.5 /
The movements to-day in the money and paper |
market were light. The calls on the banks for I
discount appear to be enhancing they have been
in excess of the income for several lays past. Of
course, the political elements. the hourly move
ments at Washington, are alluded to by the owners
of money. 1t would prove blessing in many re-
spects if the telegraph could be abolished. IL
causes more confusion, creates more evil, dolng
more harm than be balanced for years 10
come. What news, ia the first and last sanitation.
Our community appears to be kept on the tenters
from one hour to another. There were tenders OF
money to-day for irstclass mortgage paper at the
rate Of 10 53Gt. Then there were offers of COM
merciaI paper at 10 fgct., which would-be buyers
were willing to take at u get. The kind Of paper
wanted by capitalists is not issued The great re-
uctance evinced on the part OF dealers IN paper TO
take AZ and classes has materially checked the
usual issue on crops to grow. If borrowers can
move along and make the next crop without
further aid the country will be materially relieved
of an incubus which has been hanging over 1t for
| decades of years. Capitalists will have an oppor-
tunity to display their patriotism when the Secre-
| tary of the Treasury of the Confederated States
issues proposals for the loan Of SIS 0Go 000 which
will undoubtedly be in few days. We have to
caution borrowers and lenders to place no rellance
whatever on nine-tenths of the dispatches from
Washington City, particularly those coming via
NewYork. These dispatches are the coming, max
ing up of stock obbers, Bulls and Bears of the great
pandemoniun, New York
The advance in exchange precludes all further
orders for coin from New York There are some
hundreds OF thousands of dollars in gold on the
way hither from Europe to the Bank of Louisiana
and the Citizens bank, which will in all probability
close the flow Of specie here for this season.
The counter rate at the banks to-day for checks
on New York was steady at par. Outside double
AL bills were to be had at an a83-l6 discount
with sales through brokers of good Commercial
drafts at discount net. Five days sight 2@h dis
count: thirty days sight 10l4 discount; sixty day
sght 1112 but large SUMS were to be had at 2gz
discount. These were the buying rates at some
the banks. Foreign impeachment up something
more than one peg. Clear sterling ruled with large
buyers at l043@l05t. For remittance the rates
ruled at lO541l05E and 105A. Document bill
ranged at from 103@l03l and lG32-rather broat
variation in some respects between the clear ant
documents. There were very few francs otiere
to-day, and the market took an upward feeling
There were sales at 5.4C95.3s9 up to 5.373, wit
one transaction on Paris direct at 535-suppose
for remittance. We quote extremes (dealers rates
at from 5.45@5.315.
The Stock market, for some favorite banks,
well sustained We note sales of 36 shares Ban
Of Louisiana at lG23 l62 shares Louisiana Stat
Bank on PIT One hundred shares of City Raj
road stock were in treaty at G3 yet. advance
Other bonds and miscellaneous stocks in goneri
very dull and quiet.
The following is the general statement Of tn
condition of the banks Of the United States, az
| cordinr to returus dated nearest to Jan. l. 1861