New Orleans daily crescent., 1861-03-12
Ue6 Orleans 4ailp Cresteut.
FINANCIAL AND COMMERCIAL DEPARTMENT
NtU 0rIfans Htonev Htarket.
CREsCzFT OFFICE, No. IN Camp ssreet,
Monday Evening, March II. 1861,

} |
Mon7ay Evening, March II, 1851.
The morning. as we'll az The week, opened under
emarkable quietness. After meridian an immen
ity Of war news was reported, which put most
very one on the qri cice. But after the issue of
he evening papers, there was nothing observable
% give different aspect, pro or con-. to the con-
1iton Of matters as they stood at the close of
The calls on the banks for discount
were not excessive and as the sales of cotton last
week were beyond the average, and the money
available, there was no increase in the offerings
of paper on the street. We have, therefore. only
to repeat that rst.class factors paper is wanted
We have very conflicting accounts about the New
York money market. Some assert that money is
cheap and abundant at 5l@7 Get. others that it
commands 7@8 Fot. The legal rate is Get, and
we expect that is the figure that all the sixy days
bills from this city are cashed or credited in the
accounts with our banks.
The European adyices had very little influence
beyond the cotton movements The doings and
intents at Washington City were uppermost to-day.
In the meantime, it is unnecessary to borrow trou-
Bile, and as community has been in state of
preparation for some time, we shall move along
smoothly irrespective Of war alarms.
The Exchange market to-day opened with good
demand for sight on New York at 50E discount.
At par the asking rate at the banks, there
very moderate demand over the counter. The chief
transactions were outside. There were sales of
five days sight at "a! discount; thirty days sight
II discount; sixty days sight 282@ and q dis.
Sterling ruled at from l0i01l041 and lQt} for clear
bills, and l03GIl03! for documents, closing all
round under light transactions. Francs were quiet
Rates ranged from 5.521@5.424. Most operators,
that is, buyers, seemed to be vacillating, though
willing to move at lower figures than ruled on
Saturday.
There is some disposition evinced to move in
Stocks Prices appear to be we'll maintained. We
heard to-day of the sales of 100 shares Bank of
Louisiana at 100 10 shares Louisiana State Bank
on P. T., but said to be an advance previous
sales. Sixty shares Crescent City Bank at 82A.
We learn, through the Board of Currency, that
the Crescent City Bank has paid up the $4,000
which were loaned by the Citizens Bank, the
Louisiana State Bank, the Bank of Louisiana and
the Bank of New Orleans during the severe pres
sure in the early part Of December last The ar
rangements were for six months but the signal
success attending the receipts and collections of
the bank has enabled it to anticipate the agree
ment. 1t will be remembered that the Canal Bank,
by one of its bamboozing movements, withdrew
from the compact, thereby endangerng the atti.
tude and position of our commercial community
and financial position, for which evasion the Board
of Currency, in its annual report to the Legisa
ture had to comment on and castigate our whilom
friend on Camp street with merited severity.
By-thebye, We find on close examination OF
t,a p, Got Lost
that it is worth (on its books) as much as the Canal
Bank allowing reasonable value for the $4,000
State and City Bonds. It will not be forgotten
| that the Canal Bank offered to advance $4,000,
| provided the other banks would advance sufficient
to make up 100000, when only sl25,0OO were re-
| quired, which was promptly and honorably placed
at the disposal of the Crescent City by the foul
banks named, and of which only sS0,OO0 were re
quired The bamboozng propensities, on the par
of the Canal Bank, will be readily discerned.
1t is due to this community that the Directors o
the Canal Bank publish the action of the board i
| this business; that full and candid extract froI
the minutes and records of the board should b
| given to the public, so that it can in some way b
arrived at, whether a one man power or two mem
authority rules the movements Of this bank whic
has existed at the forbearance of our public 70
months past.
1here nave oeeh several reliarNS Oh Tue hatuF
of a dispatch received by the steamer Canadian, G
the l4th instant, from Liverpool, intimating, no
,r it;r,atino, brt ossart;no that a 1aroa d;scopn
pN'1 ,., o. .I,a -,
mousse IN hohnoh hau lla"e aPp'lea'ion W 'ie Dan
| of England for assistance. As we here in New
| Orleans are ewhat interested in the house il
cnostion we have been to some Daips in maxine
| ,1;n;a ar tIo ,arr,o+,,o of +l,a ,7ino.at, w
| H'l''''lc9 Vi 'le C''' '''''7 VI 'Io usP"'on'
learn that the letters received at New 0rk by the
| Bremen steamer, five dates later, do not confirm
the report nevertheless there is great deal Of
na,,,oa,,oro o,1 ,a,l,o,,. oat ,,,,a,s.
S'lohe soilc" Neic' "'u perhaps " 5i0"t S'iohe
must have its origin IN fire The money article OF
the New York Journal of Commerce, of the 18th
| contains tbo fo,,o,vinr.
1' ',,,, :, o., ; u.,,:
me pa!aS' Ipn ir oT' "''itDT 3suE' al1,IuIiik
70 W le'"InG n".h'!1 n"U91 III ittu"'i' uLc" "u
@ Ie ,' W h"n
ti"u to nf Snis nnnna in the conuontinT
rnfanroI to hmt yhn,t .v;n~ dntois ma homl