New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-12-28
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Msp ORLEANS Mluutp alatktl
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very little to be said on the general money and
s paper market this evening. We have no transac-
tons Of importance to note. Good paper can be
placed at from 1902 yet. per aanurn, and first
class mortgage securities ut from SOS and 10 Get
There are very few borrowers in the possession OF
frstclass securities who appear on the market
The tonsorial operators are one Of the things that
were. There are some u got. per month opera
lions taking place, bat being few and far between
they have no effect on the general MARKET ihe
banks will show heavy deposit line N tneir e,
turns tomorrow. It Ia manifest fhat the supply -
currency is steadily on the increase. II aeath
that the interest on the funded aebt Of tne oon-
Tolerate States dine the ISL January, VIII pe PAID
ii spec;s at the Assistant Treasurer g once SWhlen
i II AZ Branch Mint bniIding) on presentation of
fka requisite documents, or at the Treasury De-
partnent Id Richmond, and other repositories, as
named There s nothing Ike punctuality on the
part 81 public funeionaries, and we are extremely
pleased 10 note the regard in which the prompt
payment OF interest is held.
The stock market has been rather heavy this
week. The directors of the Gas Light Company
payable on the LIST proxime, which viii do very
well for d New Years present. s
There has been some bantsring going on in some
Of the bank shares We only learn Of sales actually
of so shares Of Bank Of New Orleans; also 200
shares Of Mechanics' and Tgaders, Bank. sale
Of opelousas Railroad bonds has been confirmed
al so-this is equal to a 10 pct. investment. The
interest due ii October last was promptly paid,
ana The Interest due III April next IS already depos
ited with the fiscal agent the State Bank. The
receipts OF earnings of the road for this month
show large increase Larger than for any month
since the opening Of the road. The prospects of
the opelpnsas Railroadlwere never more fattering,
and vet our moneyed men hesitate about coming
forward III aid ii the completion Of the road, which
bids fair TO be one Of the most lucrative invest
ments nov 81 The records Of the stock and share
market.
The movement in Opelonsas bonds, alluded to
above, were sales 10 three parcels, amounting to
s6s,ug0 III mortgage construction bonds, at the
rate of so and accrued interest. This is the first
sale for many months, and shows that capitalists
are ginning 10 realize the certainty of the bonds
heang one 81 the leading securities now offering in
the market.
We are in the era Of paper currency. How is
fhe public 10 be protected from the multfarioua
issues from almost every corner, every cofeehouse
and every picaynne trader in this good city So
far as the issues Of the several Incorporated assoc
Citations 60, the course can be sanctioned. lots
withstanding there is law prohibiting the issuing
III small notes on tie part Of individuals as cur
reDcy, and a heavy penalty attached for its in
Engagement, il is not regarded any more than 50
4 much blank paper. IL the general banking Law
there il clause restricting the organization Of as
socations unless with certain amount of capital,
Yet We have evidences every day Of parties issufng
promises to pay,
In 1858 the socalled free banking law was en-
acted, which, It was supposed. was something con
fofmable to It's title. IT. however, prohibited indi-
vidual banking, so faras the making and issuing of
paper was concerned. The issues Of the bank Of
James Robb, though secured by deposits in the
hands Of the authorities, were not ,conntenanced.
The patriarchal banker, Jacob Barker, who has
been banking in our8city for the last twenty five
years, had d large circuiaton-say one hundred
thousand dollars-when the so called free banking
u law passed, or rather the amendments--he paid
Of redeemed all the circulation in gold and silver,
though he had paid for banking license for a
z year.
2 1T was reported that citizen Barker contem
plated to make an issue OF |, Q and dollar notes,
from the fact of his having on hand ait the Bank of
Commerce. alarge amount Of notes Of these demo-
limitations, which were engraved in Philadelphia,
and have some pretensions to representative
money, on the best of paper.
al issue of these notes by the Bank of Com
merce would be Of great convenience. The Legs-
slatnre mightas well repeal the clause enacting q
penalty GA free OF Individual banking so that the
public can avail themselves Of small currency
IA that can be rendered available throughout the
4 sfate and country 4 II is manifest that the law is
every hour Id tie day violated. The shin-plaster
and pasteboard currency j. increasing day after
day, and the end thereof cannot be seen. It's far
preferable to grant the furnishing Of currency to
Irresponsible parties than 10 permit every coffee
i house bar, corner grocery and lager beer saloon
\ tohe flooding tie city with change notes or tick
cts, so called.
The Jackson Railroad Company has been author
lied BY the Legislature Of Mississippi to issue
$50 600 i'd small notes This is responsible as
ISOLATION, and all ito issues can be readily absorbed
4 through the channels Of trade Bat the unlimited
freedom now being from day to day extended to
Messrs. Tom Dick. Harry, etc, in the way Of pro-
yidng a eurreney, either ought to be arrested or
our Legislature Should repeal the act, and allow
community IN furnishing a currency which will be
i redeemed, or has q real locality in its place of
y issue.
There has been no change in the nneurrent
money market this week. Gold and silver are in
good supply. but the brokers and dealers are de
+ cidedly ofish about meeting the rates demanded
by holders, hence the transactions are limited We
have no change to make in our table Of quotations
this evening.
We annex the quotations Of the uneurrent money
market, as received from John Wood y CO.:
New Orleans Money Market.
american Gold .2p30 pet prem
American Silyerold sspe .l5@25 Tae prem
American Silser--neT Issue. .loG25 Fc
Asxean Deilats .l5925 Get prem
Eiya Frame Pieces n sue offering
Twenty Franc Pieces IS Su@$3 81
Soyereigns 81 59GS4 q
Ten Vhalers 70G$7 81
Spanish Donboons fs5 5S5 81
Patriot 0sHb0ons. &SI6 5Q65S5 81
Mexican #SI5 60d$i5 81
sf au..t 9.&