New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-02-08
ge6 0rleans 9aiIp Gfsstsnt.
FINANCIAL AND COMMERCIAL DEPARTMENT.
Ntn ORLEANS 4flpnev Jflatfft.
CRESCENT OFFICE. No. 10 Camp strsst.

!
CssscEn4 OFFICE. No. 10 Camp sttsst. !
THursday Evening" Feb. T. tS6l.5 |
The general money market opened this morning
with good eeing, bat before meridian later ac-
counts from Europe were reported coming over the
wires. which proved to be Of depressing charae-
ter Though these a3vices received were irregular
in some respects, the effect was'the same, and the
movements were circumscribcd after meridian.
Furthermore, the exchange market received a hard
blow, which will take some days to recover
In the general money market there was very lit
tie doing. The offerings OF paper continne very
light through brokers. OF Iong-dated factors ac-
ceptances the supply is very sparse az to cauae
inquiries, /" What makes good paper so scarce 2"
Capitalists and dealers in paper may we'll make
up their minds for very moderate offerings Of what
thew consider strong paper. Strong paper. Well,
what is strong paper in the true definition OF the
| word! Is it the drafts of planters on factors
drawn against produce, the seed for which has to
be placed in the ground in March and April next
1t is however believed that the views in regard to
i" strong ideas have been greatly modified |
Strong paper in the bank parlor has also been sub
ject to disquisitions for months. 1t is betieV
ed that dealers in paper have from time immemo- |
rial lost more by investing in what is technically
termed in bank parors, strong paper, than in sec
ond and even third class paper. The question Is |
now, "What is strong paper during the Impending
crisis, or any crisis?" Or perhaps it may be well
TO take another view, and say that parties having
paper out by hundreds of thousands OF dollars per
haps more can come under the denomination
The movements in and about the banks to-day
! were light Some of them are not offered as much
short dated paper as they absorb. The re-
newals continue free in fact, if the renewals were
not made there would be slim prospects for stock
5 holders the next dividend season. wise pohcy,
! in more respects than one, appears to have been
universally adopted that is to accept OF any cur
I tament from 1000 get This course having oeen
J followed, has resulted in immense benefit to the
Il commercial community. In the meantime, capital
Z ists are willing and anxious for strong paper at TO-
"a l1ml2 act but as the article coming within ideas
ut is superlatively scarce, they can remain IN the
rs paradox assumed. -..
II The general Exchange market was either over
ii abundanty supplied to-day, or the capacity and
d@ wants of buyers and remitters were on very
,m diminished scale, that is they appeared to be on
the no want order" unless at greatly reduced
w rates. There were several rates. First there was
4" the counter rate at the banks for checks on New
, York at discount with very light demand; Their
! there was the selling rate of bankers, which was
discount: then there was the selling rates OF othe
: grades good and safe, at from I92 dis. Ther'
were also sales of day at the same rate-4 dis
g Transactions in thirty days sight at Il dis,
3 bills and sales of double Al sixty days sight at
! dis There were sales of sixty days sight at dis
T.. count early in the day. Before the close iarg
6 amounts of the best available at from 2tg25
q and good commercial from @a@2} discount wit
& rate for outsiders bills at yet. off. Sterling
IS under the decline yesterday, was offered freely
4 but not responded TO consequently, another de
y cline under depressing accounts from New 1orf
30 was established, clear sterling receding to 10
Il lO29@l03 for good bills, or they would not haV
Il been TAKEN with other sales at from l03a4lo
"a and remittance rates at 1043@lO5R. Some bill
81 with documentary evidence were closed, nein
under treaty at 1929, with some parties holding I
4 lower rates, say l0l30lo2. Francs ieit the d
= nression Some small sums taken for rem
u lance at SAL and other Al bills in large sums
% 545--the market closing at from 5.55@5.45 as t
Il highest range.
q The Bank of Louisiana received yesterday Is {
q soverejcns from London, say S2l6 600; the Otze
* Bank in American gold from New York, sl0o,t
. total-3l6 GOO. The Bank of Louisiana has 600,
81 francs in gold due, and 100000 soverel'
% under ORDERS There is very little demand for 6
~ at the counters.
l. In Stocks we note only one sale, say 80 share
L. Louisiana State Bank at l55, ex-dividend. A ne
H. : tation was going on for other shares The feel
towards stocks continues good, that is, there is
!, IS desire to sacrifice. We not aware that tn
!, are any causes for selling at sacrifice.
J. I Mr. Dix, the recently appointed Secretary of
l. 10 Treasury of our late venerable uncle, has b
IL L. looking over the old musty books OF the Cove
Is nent and finds that several States are indebted
4, Is our uncle, the late United States Government
q the snug sum of about s2S 100000 for money de
n s. sited Chat the surplus revenue) with the sew
A. Of Of pf Inns Or
C. 70 This debt may be considered as belonging to
an last generation. However, Louisiana received
c IS hundred and seventy-seven thousand dollars,
q possiblv she may be called on to refund. We hi
C % however in the settlement of the demand Mr.
It'll will make out regular account current, credi
" IL Louisiapa with about $50 100000 OF duties rece
" ~ by The General Government through the Gus
C. 81 house-some few millions received for lands
w. 9 True the balance sheet can be made OF consd
W II BILE interest, by allowing Louisiana share OF
public vessels of war, giving due credit also FOL
W. % Branch Mint the unfinished building occupied
ar Customhouse and Post. office, the unfinished
- rine Hospital, as well as the forts and ARSE
&C. is Then the balance in favor of Louisiana vii
&C. "a large.
&c q The following are the sums due from each
m. and which Mr.. Dix is about calling for, eth
m cash or secured in some way, as the basis OF
an - loan for $40 900. Texas was not III The l
Mt the time and Florida not State, so
,ec "a are clear of the matter:
Na;ro ..................... $685.
81 Nav Iampshire Cog
)ec. 81 Vermont GU9U
s1osnachus MS ..,..,............,........l ,33S,
Zee. 80 "nnnrctrut NEUTRALITY-SUSPICIOUS.. 7Gi,C
Ip'Hn I'lnnd observation-disclosures. 3S25
&c, II ~" Iasev ',....,.... ,........... 764t
~ Vorl Observation-Disclosures ,OliF
Jam 8 Sonu] vlvnin NEUTRALITY-SUSPICIOUS.. 2,567i
i,nlaxvynra .....,.................,....... $50,
Ian. 7 nurxIani NEUTRALITY-SUSPICIOUS.. 95ii
W;r:t,in neutrality-suspicious.. 1913,
Jan Noh Cnr0lina 433,
Snmth CarnIiun l0jl,
I;,.,rria .,.,.,,.,, ,................... l05l,
aI,h3nl, NEUTRALITY-SUSPICIOUS.. G69.