New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-16
0eb 0rleans 1aiIp Crestert.
FINANCIAL AND COMMERCIAL DEPARTMENT
Nt1 0ELeans 8Eoner HIatAet.
oHEsoEEE oFyroz. No. 70 Camp street.

I
Tuesday Evening" Jan. 10, 1851.
The financial movements to-day were restricted.
General transactions all round, were in many re-
spects in unison with the weather. The weather
was altogether on the pluvius order. Rain com
menced at an early hour and continued throughout
the day. The outdoor transactions were, there
fore, enthusiastically restricted. There was some
money or discounts called for at the banks. On
the street a hardening tendency was observable.
Paper which has stood the test of convulsons and
reyulsions for score of years could not be nego~
tlated less than u get. per month, and other good
| names at the rate of Oct. per month. This diff
Guilty, or high rates. is not owing to the scarcity of
money, for that is abundant but nominalIy, ex-
tremely scarce, and likely to continue 50 for the
present. There ought to be some diminution in
amount Of outdoor Indebtedness, but the presunp-
ton is that the general Indebtedness of the country
has not been much curtaed-say 20 Get this sea
son-that in October last the claims against
$3.50, O00 direct; that at this time they are
Sl25 100000. There is very little new paper max
ing being issued by factors. In all probability
there would be more if there were prospects of its
| being responded to by capitalists and dealers.
Capitalists might take this view Of the crisis that
is, if they have any surplus, why invest and assume
| the consequences if there are any to arise. Com
mercial securities of the South and will be Just
as safe the same securities in Northern cities
The portent of the political disturbances will have
just much effect and influence finances in the
North in the South. Northern writers on finance
| and trade can buster and boast just as much as
| they please they will feel the pocket crisis now
| approaching much more than the great South; in
fine, there no apprehensions entertained in this
section of our financial position. Specie continues
| to accumulate, $3.50 900 having been received yes
terday and to-day, $500 900 of which went into the
| Citizens Bank, and other sums are in course of
transportation. The public can as well become
reconciled to the fact that the discount line Of the
| banks cannot for She present be extended.
| The Exchange market to-day was heavy. The
| counter rate at the banks was steady and uniform
a. dis. Outside sight ruled at305g dis. The banks
were buying at l discount. A sale of fifteen days
sight was made at IL dis. Time bills that is sixty
| days sight, are ignored. Sterling was heavy.
Transactions very light at l04041044 down to 1881
and lO3 Document bills l0O@lO2, and very heavy.
Francs in rather better feeling We note sales of
100000 at 5434@5. 424, making extreme quotations
5.55@5 Az, though $50 was offered for lot but
refused.
The Cincinnati money market appears to be con.
siderably affected by the proceedings at Charles.
ton. The Cincinnati Enquirer, of last Friday, the
| 10th inst, says:
Business among the banking houses on Third
street to-day was affected to some extent by the
news from Charleston, but not so much SO as was
generally thought the adyices from that quarter
would have produced. Cautiousness has been the
main influence operating on the banking commu
nifty Of this city ever since the panic began, and
the policy which they have pursued, though to boz
rowers Of money it seemed very liberal; but il
times like what appears to be fast coming upor
us, depositors will find reasons to commend the
course which has been so jndicouslY pursued. The
demand for money continues pressing, but bankers
accommodate only those having special claims
upon them. The rates for the very cheapest grade
ranges from lO@l2 get. In outside circles th'
rate ranges from 240136 fBct, But capitalist
showed good deal Of timidty to-day in acceptn!
| the very choicest paper offered.
| There is continued firmness in sight exchang
on New York, but the rates remain unchanged
Philadelphia and Baltimore exchange are dull
without change The demand for sight exchang
on New Orleans was large to-day at prem. Tn
buying rate is ! prem. There is good deman
for gold, and the market is firm at i0ll prem. TIL
sales to-day over the counter were mostly made {
the outside rate.
The following are the quotations of exchang
and gold at the banking house of A. L. MoWry
Co.: