New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-09
aeb 0rleans gaiIp Grestsnt.
c1o1o1@oc-oe1S<
FINANCIAL aEh COMMERCIAL DEPARTMENT.
NeD Orleans Montu MIarket.
cREscyst OFFICE, No. - Camp stsss

The week opens under considerable depression
too much stress is laid on the Geographic dis.
patches. If people choose to believe everything
called startling and important, which is received
via telegraph, we cannot help it. There was very
little inquiry for money on the street to-day. The
Bears in stocks are using the " war news,a and
might have circumvented the flats if they were
to be found or eone-ata-bIe. The fats, however,
though DESTROYS of realizing are not so hard press
ed as to take the first offer.
Later advices were received from Liverpool at
an early hour, but they were not satisfactory.
Cotton was quiet in Liverpooi--the highest quota
tons for Middling Orleans were Sled, which are
below expectations. The sales for the four days,
ending the 18th of March, were respectable. The
Juror of the previous week had subsidized, to revive
perhaps when Manchester stocks get down to
low ebb
The general money and paper market offered
nothing to-day for remark. Good paper, maturing
this side of March next is in request at from 100
II Get, and Al at the rate of 8 act. The banks
are in want of shortdated paper Of good make;
but what constitutes good make, or strong paper,
is often asked What may be considered good by
Mr.. may be rejected by Mr.. B, and good deal
of paper is from time to time offered in our banks
that the makers or parties are not known from the
man in the moon. Then it is often amusing to OBJ
serve Mr.. Brown, the gentemanly dealer in mules,
and Mr.. Smith, who sells cattle and horses, taking
drafts of planters on their factors, payable on the
sale of their crops, which, of course, are not
honored on presentation, unless the crop should
have been sold. We say it is amusing to witness
the surprise at the refusal of bank managers to
discount such informal paper. Many of the West
ern traders and dealers will press their notions on
planters, and say, give me your draft on your mer-
chant iu the city-hetakes such draft and comes
to the city, presents it for recognizance accept
ance, though drawn payable out Of proceeds of
crop, which crop may not be in market for year
Such drafts may be accepted eonditionaly, but
oftener not accepted nor recognized. The holders
of these drafts then go to the banks and cooly ask
them to give them money, which, if refused, our
banks, merchants and all, are sure to be well de-
nounced and villfed for declining such paper, and
all these irregularities are harped on through the
West and used derogatory to the standing and
credit of New Orleans. Jobhers in neat stocks,
cattle and mules, are worse than the Bears and
Bulls in the Stock and Bond market.
The Exchange market opened dull this morning,
moved along alphabetically, and closed under great
heaviness. The counter rate for checks on New
York ruled at premium. Outside the rates ranged
from 1@4 premium. Some round sums of one day
sight were taken at l-l6 premunl-pretty close
shaving in figuring. Sixty days sight ranged from
l@lb and ! ! discount, the bulk Of the transac-
tons being within the range Of discount. Sterling
fell off fully get. Though there were sales for
remittance purposes at l079, dealers were not
anxious to invest at higher rates than 1G7. Bills
with documents, though not offered freely, were
hard of sale at l06@l061. Francs also partook of
the heaviness. We note sales Of 900 in lots,
and small at that at 71@5.25-extreme figures
running from 5.35G1525. The Improvement of last
week is lost not to be recovered perhaps; in fact,
all exchange is running in favor of New Orleans,
that is, it is declining. ..s5
The Western money market is not very flush.
They write of the unsettled state of the country
and want of confidence pervade the Northern com.
munties. As regards the word confidence, as
used in some circles, it is not matter of much i'm
nortance here in the South whether we have the
confidence of the Black Republican money markets
or not. We can go on for veal or for woe we car
| take care of ourselves, as the sequel in few
months will show. -.s ..
The Cincinnati Price Current, of last Wednesday,
the Sd instant, says
There has been NJ marked change in the money
market since. our last; the demand has not been
pressing, and for acceptable business paper, the
market remains easy at 1o@l2 got, but paper
coming under this head is not wanted, and is ne
gotiated with difficulty at 1908 get. per month. 1t
is rather difficult to borrow money at 10 491t upon
real estate. Call loans are easily made at Tl1s IA
Ct, aud time drafts upon New York are in demand
at s090c., and very few Offering.
The demand for sight exchange on the Eastern
cities has heen good all the week-nlly up to the
suppty--and the market closes firm Colo is plenty
and dull, rates being shade lower. There has
been hardly any change in the quotations since our
last. We quote:
Buying lie ling.
New York Sight. -a40 prem. @ x prem
Boston. ............ oh prcm, IA * prem
Philadelphia. ..,........... --@AU prem "a Il prem
Baltimore ........ ........ iA@2a prem. % z prem
NV Oh cans. go. ....,.... a dis I'd par.
american Gold ..........,. OBI PREM 9aQ3 X prem