New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-31
Neh 0rleans Dailp Crfseert.
FTEAHCAL AND COMMERCIAL DEpaRTmEsT
5Etn 0rleans mE0rsu gEsrAet.

The money market to-day was quiet. In and
about banks it was remarkably quiet, under the
large sales of produce which have been made this
week. The European adyfees have stlfIened the I
cotton market and depressed exchange, az the
more there Is to be drawn for the larger the basis
for exchange. The offerings for discount at the |
several banks were not large. There were some
new discounts granted, and :he usual number of
renewals. The renewal of paper maturing in ac-
tive movement is, however, averse to the bank /
code but the position of affairs for three months
rendered it imperative on the banks to adopt the /
rule, or send large amount of their portefeuflles
into coventry. The amount of protested and sus-
pended paper held by the banks is trifing, very
trifing. The outside movements in paper to-day |
were light, very light Good mortgage securities |
can be placed at 10@l2 get. There were some |
sales of three and four months of good commercial
paper at 14@l4 Oct. per month.
The exchange market was weak to-day. The
large transactions in cotton placing large Sums
of bills before buyers, and though good share of
the cotton bought is intended to be held for lower
freights, yet it has to be paid for. The counter
rate for checks on New York was steady and uni
form at dis, with or two holding at an dis.
The banks were picking up some small parcels at
from 3615 and dis. Ten and fifteen days sight
was sold at the same figures of yesterday, say II
dis few movements in sixty days sight, we
also noticed at 2, H. 22@2seds. We quote from 1t
@s dis. In sterling the demand fell off. Rates of
yesterday were not maintained. We quote sales of
clear bills at 1854, 1861 lo5FtGlOs. cry weak at
the highest figures, though remittance rates are
much higher, running away up 10 lVi. Documehb
bills were taken at lo3&GDto4. Francs were not so
|
actions to note We quote the market to-day dun
at 5.40095.S z4-extreme ranges ABOVE ana Delo#,
but difficult to realize
In STOCKS thefe nave peen sales vi Aoo shares VI
Louisiana State Bank at l6o. me halt-yeariy dlYl-
dend Of this good Old institution VIII De declared
on the LIST proximo 1t is presumed 1t Will be = or
7 act.
We acknowledge the receipt Of copy of the
Report of the Board of Currency made to the
Legislature, in conformity to law. It is very ex-
plicit in general details, and as we have daily and
weekly witnessed the management of the board,
we can speak of its efficiency, its faithful manage
ment, the industry and attentiveness in which the
duty and labor devolvng on it have been carried
out The bank act of 1912 must, however, come
in for great praise and commentator on the
faithful supervision of the board as required by
this act, is community indebted for the present
strong, sound and unblemished standing of bank
ing institutions. .-.
We note, however, recommendation by the
board of the withdrawal of and the suppression OF
all issues of bank notes under ten dollars. We do
not agree with this recommendation particularly
on the grounds suggested hv the report, that is il
case of panics and pressure the small notes are the
soonest discredited and called for. This is hardly
| II,