New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-01
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FINANCIAL AfsD COMM RneIAL DEPARTMENT.
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The business for the week closes satisfactorily,
duce market has been lively, money has cheapen-
ed, though exchange has advanced to rates ayerss
to our interests frefghts have given way declined
to rates that will scarcely pay expenses for large
vessels to come hither. By this decline the great
produce trade is most fayorablg benefited. Bank
stocks Of the socalled free banks have been in re-
quest at advancing rates. Real estate has taken
an upward start Sales Of merchandise in general
have been to liberal EXTENT the untoward results
and evils which have been predicted by agitators,
croakers and aTarmists, have not been realized.
Northerners, who have been watching the course
of events for months, are somewhat alarmed at the
signal success of our seasons business, and the
very few failures among our merchants. Although
the great question Of secession has not been recog
nized by the Government at Washington City, very
little interruption has taken place in the of
the mighty produce and foreign trade of our city.
The Administration Of the Government at Washing
ton City continues its ydallying and triing and
| the great question at issue between the Confede
rated States of America and the Northern States is
no nearer settlement or adjustment than it was
thirty days ago. Irrespective, however, of the
| present political position Of the two countries,
| South and North, the great commerce and trade
/ of our to be mighty emporium is moving onward
| to that goal of success and grandeur which it is
destined to attain from the great advantages given
/ it by nature, and the encouragement held out to
/ all foreign countries through the low rate Of i'm
posts and the workings Of the tariff act to be in
aEgurated as the policy Of the Confederated States
| of America.
The aggregate of sales Of produce this week sum
/ up four millions of dollars, besides transactions in
| foreign merchandise, such as coffee, salt and ex
| change movements have been large, and with
| other movements the business for the week will
4 cover ten millions OF dollars. There has been no
diminution in the receipts of produce from the
West The eliminating point for these receipts
has been attained, with the exception of tobacco,
the receipts of which show a falling off from last
year of 20 get The movements in this article for
the week have been chiefly for account of the
French Government
The general jobbing trade in dry goods, groce
ries and concomitant branches of business has
been well sustained by the advent of many dealers
and traders from the country, though the sales
have not been to the extent OF the corresponding
week last year The sidewalks have been well
crowded daily during the week with boxes, bales
and packages, marked for the interior. It is not
presumed that the pavements are used for show
appendages to our jobbing houses, or that desire
for showing off forms part of the features of the
business of New Orleans.
Our city is well crowded and thronged at this
time, and will be for few days longer, perhaps
weeks. The coming week (the week of sports On
the great Metairie eourse) will attract thousands
from every section of the Southwest and of course
immense of money will change hands, be
thrown into circulation through the various ramif
cations sporting and trading, and activity, liVe
ness and briskness will attend the movements for
several days to come.
During the week our general money market ha:
been tending in favor of borrowers Our daily ant
constant limitations for weeks past that capitalist
and owners of money would have to reduce thei
rates, enlarge their views by enhancing the stand
ard of commercial paper, or avoid all investments
have been responded to by reduction of usanes
and a desire to take paper which six weeks az
would not be recognized The closing rates
paper due next season 9t@l0 yet. for frst-cla
Names and 11@l3 for good, ranging down to Is
Ct, while firstelass mortgages (when otfered) al
taken at f}ct But loans on any length of tin
are few and far between. The suspended house
are retiring their paper, which is under ban, wit
considerable lveliness aud faithfuness.
Our capitalists will have good investmer
offered them through the Commissioners of ii
loan of the Confederated States. As there is nc
| &c, 81
money seeking investment, the bonds of the Con
federated States cannot be otherwise than REGARD
ed with the highest favor. We shall soon be abb
/ to distinguish the friends of the South from il
foes.
The returns Of the banks to-day to the Board {
Currency exhibit very uniform movement. Wit
the exception of an increase in short loans, til
movements correspond with last year. The d
crease in deposits proper show that holders c
money have found some employment. The d.
crease in exchange is trling.
The following are the changes for the week
A decrease in specie OF, .So9256
" An increase in short loans of. B3Sl5
decrease in deposits proper 49, 553 81
An Sssfss IN distant Balances Of
A. The variation in Long and Short Loans
H crease for the week Of .$G64 Q57
r n The movements for the corresponding week la
year we're 5s
decrease n n spSes in a 5S sss
decrease in deposits proper os...,...-.... 42los
decrease in short loans 15s,025
decrease IN distant balances ,dat s Of a. ia , l2ai
eS was dtereaSe Sill b9s
81, The following is the comparative position of Il
banks on the last Saturday of March at the tim
81 specified;
sp.e,. s H:5s$ " Hs; q %, s Has