New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-02-19
S34,lS7.254l
S3i lsT,254

Very little can be said in favor of the above ex.
hibt. The banks are only in working position.
The decrease in specie is large. Immediate cash
liabilities over $4,000 600; coin in vault ST.
1858 ,977-not equivalent to Ice. % dollar. Exchange
balances are large, and being under suspension,
duly legalized, there ought to be coin accumulat
ing, instead of decreasing.
By comparing this statement with that of the
previous month, we find increase in circulation
to the extent of 800 1875 increase in foreign ex
change of $95S,270, and an increase in deposits of
$G39, G23. The specie shows decrease of 81 ,22S,
and domestic exchange decrease of s., 73S 800.
The monetary article of the New York Herald,
of the l2th says that the opinion gains ground that
the establishment of the Southern Confederacy
will lead to the avoidance of actual hostilities.
1t is manifest that Northern capitalists, mer-
chants, and all others are greatly frightened and
alarmed at the energetic action of the Southern
seeding States.
NEW YORK BANK STATEMENT.
Il: ::: s $:;;; ':;f:; ; s;:;;';
1n safsSss i0o's'4 scoi, is6 36see 1la3ass
The increase Of specie is larger than was ex-
pected, owing to the large receipts from the Mint
California steamer will arrive this week, which,
together with the remittance per Canada, will
carry the specie reserve bank and Sub-Treasury to
forty millions. The decrease in loans is about
what was expected. This curtailment is net yolun.
tary on the part of the banks; it results from the
general liquidation now in progress in business,
and will probably continue until some change
takes place, and the general commerce of the
country begins to revive.
Money continues very abundant on call, and
first class paper passes readily. The failure of
Freeland, Squres g. Co., noticed in our paper on
Sunday, has led to more caution in purchases,
though their credit has not stood well for some
time. They were in the Western trade, and the
losses which crippled them occurred in and before
1857. The Western trade generally is considered
pretty sound at present.
The foreign exchange market opens very dull.
Bankers bills offered at l0504, and good mer-
camille bills from lo32@l04$. The demand is SO
extremely light that, Notwithstanding the small
supply OF bills, the market is dull and rates decline.
The stock market is rather better, without much
business doing. The impression gains ground
among the brokers that we are approaching some
solution of the pending difficulties the peaceful
organization of the Southern confederacy is
garded as indicating prospect that actual hostili
ties may be avoided. AT the same time, leading
operators are rather reluctant to move vigorously
in any particular direction, and prefer to wait the
progress of events.
CINCINNATI, Feb. 1.-THE money market con-
tnues to work as heretofore noticed The offerings
of good paper were moderate, with supply of
currency fully equal thereto Rates of interest re-
man AT l0oOlZ T5ct for ~ ana 0O DAY paper, and
(1lO for call loans.
The supply of Eastern exchange gained some
what upon the demand to day, and the market was
easier, but rates were unchanged, except that 374
rather than 40 premium was the prevailing figure
for private checks on New York. New Orleans
continued dull at par buying and prem. selling.
We hear of occasional sales of prime 30 day bills
on New Orleans at equal to IL get; Eastern 80
and 80 day go at equal to 9090 59ct. Gold was in
active at premium for round lots; the retail
price is Z. We quote:
New York Sight ........... a7aioprem % Z Prem
ANY, 1s,sn God g par Prem. "a prem
We have no change to notice in the market for
uncurrent money. 1t moves rather heavily, bat
the receipts being light, rates are maintained.
Messrs. Jones, Brothers & Co., the Oldest and
one of the heaviest dry goods houses in the city;
we regret to learn, suspended payment to day. It
is expected that creditors will receive large divi-
dend. This disaster is attributable to unfortunate
outside operations in railroad enterprises stocks
etc, entered into some years ago, when matters in
that line looked promising. The legitimate bust
ness of the firm always yielded handsome average
profits, and the house was at one time wealthy.
ST. LOUIS, Feb. 1f.-There was decline in sight
exchange to-day on the East and South, with most
dealers to 81 T3ct. prem. for bankabe funds. Some
charged 4Sct more for Illinois currency, suppos,
ing probably that the passage to-day OF an amend
ed banking law to-day in Illinois may temporarily
lower the value of the present circulation of that
| State. That Illinois currency will eventually be
better than Missouri, under this law, is also quite
probable. The bill has passed both houses, and
will, of course become the law; It is the one pre-
scented originally by Senator Mack, of Kankakee,
believe. and provides for the redemption of all
notes of Illinois banks, either at Chicago or Spring
| field at discount till 1861, and discount there