New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-19
Ne6 0rleans 9aiIp Crescent.
FINANCIAL AND COMMERCIAL DEPARTMENT.
ge6 0rlens ntontp Hlmket.
CRascxw~ OrFTeE. No. 10 Camp street,
Monday Evening, March IL 1851.

CRascEw~ orrIcE. No. 70 Camp strsst. , I
Monday Evening, March I8 1875 |
The week opens under remarkable degree of /
quietness not lassitade, though blue Monday might I
be termed az applying to the movements and in /
clination to move to-day. There were numerous |
reports a1oat in relation to Fort Sumter and Fort
Pckens, and the movements of the Southern Com |
missioners at Washington City; but all these &C
counts are believed to have their origin with
Northern stock jobbers and spectators in railroad
shares, and no reliance can be placed on them.
Asregards the money and paper market, there
were light offerings to-day. The supply of money
seeking investment is large, very large for this
locality. Capitalists and owners thereof are ready
and willing to invest at the rate of 10 Oct, but
qualify their tenders by saying, bring such
paper as W. W Montgomery's, R. D. Shepherd and
Billy Gasquet's, with some few others who never
issue any promises to pay, and we will loan at 10
get. and perhaps get" This is like offering to
lend on a bag of doubloons. If we have any re-
sident capitalists who can actually be considered
holders of money, and who have really money to
loan, why do they not take the mortgage bonds of
the Opelousas Railroad, which will return an in
terest of 10 get. on the present market value?
These kind of securities do not answer our hybrid
capitalists; they must have something that is paid
sion that we have capitalists among US who can
lay out of money, even for ordinary amounts, be-
yond O year.
The movements in about the banks to-day were
circuMscribed The calls for discounts were in
excess Of the income. To keep up the line Of dis
counts the banks will have to enlarge their stand
ard, though the standard is pretty broad at this
moment. 1t will not be sound policy for them 10
ha urfiD for n;nl-a "A
who are making preparations to leave our good
city this spring, who are outstanding their re-
sources, as it were, turning everything that can
be turned into money for Northern advantages.
The come-to-day and go-to-morrow fraternity
ale in the market for all they can borrow, raise
or anticipate. They will take bank checks, bills of
exchange or anything that can be turned into gold
go North among their friends and creditors and
laugh at the liberality of institutions, and how
nicely they gulled our citizens.
The Exchange market to-day opened with the
stiffness and advancing tendencies at which it
| closed on Saturday. The rate of checks on New
York over the counter was put up an 18th premium
for limited sums, and premium for large amounts.
| AT these figures buyers were somewhat nonpuss-
ed The outside rate ruled from par to an PREM
Five days sight thirty days E@l discount sixty
/
good and 81 for fair. Sterling clear bills was held
at lO6@l064 for choice 105@lO53 for good AZ
bills with documents l04@1O4A to 1O5-very light
| transactions Francs-nothing done to-day-rates
| higher, running from 5.373 D5.35 to $50.
There have been many unfavorable remarks
within the past few days derogatory to the stand
ing of the clearinghouse of A. Marcuard q Co., OF
Paris This intelligence was announced as having
| NV +ba in lott Fpou Dor 6ata Il
the 23d 1t must have travelled very rapidly to
Liverpool to come by the Niagara, which left that
port (LiverpooD the same day at noon A dis
patch from New York, dated subsequent to the re-
port in that city, says, There is no truth in the
Heralds report about Ad. Marcuard & Co., Paris"
The failure of the great house of Mires gave
origin to anticpatons of further trouble.
The London Times, of the Goth February, says
The Constantinople bills on NJ. Mires falling due
| to-day or tomorrow are said to amount to about
| ESQ 600, and strong hope was entertained that
owing to the State having charged itself with the
administration of his affairs, provision would be
duly made for them. A telegram from Paris late
this afternoon announced, however, that defaul
had taken place. Ultimately it was notified that
suspension of payment has been ordered pending
an examination into theEcondit on of the Caisse de
Chemins de Fer. The financial letters to-day men
ton that several persons connected with the trans
actions of NJ. Mires have been arrested.
Some reports circulated this afternoon of larg
amounts of NJ Mire's draughts being held by par
ties connected with the London money market ar
totally without foundation.
The monetary article of the New York Courie
and Enquirer alludes to the probable surrender O
abandonment of Fort Sumter, and evidently feel
greatly worried in regard to the movement
The money market remains quiet, with full
supply. The demand is not active, and large bal
ances are held over by the banks and private
bankers for want of short investments. The ole
established stock brokers and discount-houses are
| borrowing at fBct. on call, and they report full
| supply at that rate. In the open market, cal
loans may be quoted at get, on the best securi
ties. The demand for good paper continues, bu
of the really rstclass there is little offering Very
choice short acceptances go at get, and first
class single names QOur and six months) sell at 7
Second-class paper sells at SOLO f9ct and outside
Of this grade, rates quite arbitrary. There il
a large amount Of paper on the market which it il
impossible to classify, and sales IRE made at al
rates up to So get.
The following are to-days quotations:
get. p annun,