New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-20
Neo 0rIeuns Gully Crescent.
FINANCIAL AND COMMERCIAL DEPARTMEET
gty 0rIeans NIGnep 1flarktt.
CHrscEsr OFFICE No. 10 Camp street,

Tnss}sy ESenina March ii 10 Is51
CaImness and quietness were the features of the
money and paper market to-day. 1t is hardly
necessary to repeat that such and such commercial
securities will be taken When they are not in the
market, and that other classes, intrinsicaIIy as
good based on the same fouudatiOn-cotton and |
sugar--are scanned scrutinized and considered |
on, and then perhaps refused from the want OF |
some degree Of prestige or bolstering Hp. There |
was no lack Of money to-day on lendels' terms.
The largest wants at this moment are to relieve
Northern creditors; they are inexorab!e in their
appeals and opportunities to the Southwest 3: |
Help Us if you can, trade is falling off, the seces-
sion movements in the South are reducing our
sales'' forms part and parcel Of the correspond |
| ence from Northern cities, town and villages to |
their customers and c0partners in the South.
The movements in and about our Custom-hoQse
are we'll kept up. The receipts of cash duties on
| importatons from foreign countries for the month
of February last sl9i .6G5 against 1924 252 for
the same month in 1860. These receipts all go into
the Treasury of the Confederated States. The re-
ceipts in the month of January only sos ,855.
The importatons into the port Of NewYork for the
month of February were on less scale than in the
port OF New Orleans. Taking dry goods as the
basis, say the valne Of such importatons for last
York, was &c. 782, 900 against $l1 JOB 700 in Febru
ary 1860. Under the Southern tariff we shall have
a large increase the coming season.
The Exchange market to-day took an upward
leap, jumping up to New York rates and little
above The demand for sight on New York was
supplied By the banks at 514 premium Outside
there very little doing-large dealers and buy
ers came to pause. Sixty days sight advanced to
f3ct discount for prime bills, that is, al at this
end and the same as regards the drawees. Good
and fair commercial bills ranged lower, that is,
| such bills az were based the standing of the
drawers ranged from la0l4 and get. discount
Some parties in the North and West write to their
correspondents here: remit in the very best of
bills at 60 days sight, which means Al and double
AL As regards both drawers and drawees, which
bills cannot be had within a@l get of those class
ed good and fair, and yet complaints are made be-
AL bills not forwarded in return for col
lectons at the same rates of commercial and gen.
eral produce bills. Northern creditors somehow
or another do not comprehend the course of the
Southern exchange market. Sterling bills took
another leap up-day. Sales for remittance were
made at lC7@l07t for round sums. There were
also sales at 1861 making extreme rates range
from l064@07b. Bills with documents were helt
at an advance. We quote from l0440l05 and l05
very few offering. Francs also advanced, wit
sales at i. 35015.27@, and fraction more for SINAI
sums on Paris direct, say 5.25.
There were some sales of Bank Shares to-day
say 100 shares Bank of New Orleans at 95, and Is
shares, in small parcels at 935094. Crescent Cit
Bank went up to 81, and 100 shares Gas Lgh
Company were sold at 1861. Gas is fixed insttu
ton.
The last monthly (February) return of the bank
OF the State of Saith Carolina show an increase j
specie of $50 1853. This is not sufficient. TIL
banks of this State being under suspension, ough
to be increasing the specie reserves, equally a
much as increasing their circulation, which II
J crease for the month of February amounts
1888 ,637. There is an increase Of exchange ba
= ances of nearly one million of dollars. The di
count line shows decrease from January OF Sill
: 900. There ought to have been greater accum
: lation of coin. For the information of the man
5 gers of the banks in South Carolina AID for an
i ustration of the banking statutes of Louisiana
y the year 1912, we will cite how the South Cal
. lima banks ought to stand the cash liablltl
Is deposits, circulation and distant balances,
AZ amounts due banks foot up SlG,l7G,4 29, viii
+ ought to be represented by 1892 900 coin in
q and $40 7S4, 900 of paper maturing within 80 da.
This sum is represented by discounts to the amou
4 of ST., OS3 $50, but in the dark as to wi
=. portion of these bills receivable mature within
Il days. The suspended debt of these banks
4 enormous for a cotton-growing State under Gro
. of the years 1858 and 1859. s2,37s056 of the 81
Is pended debt is equivalent to l6 get, one eigh
~ of the capital. There is an item due the State
g two and three quarter millions. Whether this
i an immediate cash liability. we are not informe
q if it is the amount of coin in vault ought to be
millions and three hundred thousand dollars to
proximate banking system Of the act of c
Legislature of 1872.
9 souri, cAaolIsA BANKS
j. AIRY 1861