New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-28
Ue6 0rleaas 1aiIp Grsstert.
FINANCIAL AHD COMMERCIAL DEPARTMENT.
gtD 0rleans moasu H!arhtt.
CEEsngNT orEIcE. No. 10 faa,s, yf.cct.
.4.H5 WRdnsgTay EVENING Mach 1- IaS1

Tsn.s asylS E;lsfs1 z a.ssS
The tesor Of the money market to-day was Of
ease and qa5etuess. In and about the banks twas
very quiet-shs chief business was in exchange. A
good demand prevailed for checks on New York.
From the general character of buyers, it Is be.
lieYed that the large share Of the demand for
checks is from debtors to New York, and who are
paying up with mere or less speed, with desire,
it is supposed, to show that thsy are now indie
pendent of complications with Northern cities.
For the information of Chairman opdyke and our
quondam citizen, Dir. Morgan, we have to inform
them that the Legislature and Convention of Loui
aiana have both adjourned; that no stay4aws nor
interference with the collection Of debts have been
passed by either Of these bodies that secession
is fixed and unaIterable that il their next report,
as committee of that sefinatitnsed body, the
New York Board of Currency, they can revoke all
the material part Of their report of last November.
The inquiry for paper of satisfactory make
continues free. The supply ia very restricted, far
below the means and desires of investors and buy
ers. Owners of money have been holding back for
some change, which may be classed as underlined
Money has been accommodating for the last fifty
days. Several of the suspended houses have re-
sumed payment; others are preparing to do so at
an early day, which causes the balances of buyers
of paper to be under repletion. In fine, cur deal
ers in paper are most agreeably disappointed !;
their debtors are paying up much faster than they
anticipated, and they would be extremely glad to
reloan or rc-invest their receipts at and 10 get
Instead of ll61i2 get. There is money seeking in
yestment at from 500 and 10 get, which cannot
be realized. This is nothing more than we have
predicted for weeks past that capital, altGs money
would be offered through most every prominent
broker before the spring season closed. Paper
which would not be looked at sixty days ago at "a
@30 yet. per aunum, is now in request at l0@l5
get. Our banks are we'll fortified in their specie
reserves In addition to these reserves, the Ci
zens' Bank received yesterday, at New York, by
the Canada, from Liverpool the first installment
Of gold, say twenty thousand sovereigus on ac-
count Of exchange. Further sums are en- route for
this bank.
The Exchange market went up another peg to-
| day, SO far as sterling was concerned. The de-
mand for checks on New York was Free and being
somewhat in excess of yesterday, one or two
| banks advanced the rate to premium. At a
| Camp street bank some one of its customers
| banks on Camp street do have eustomers-wanted
a thousand dollars extra on New York, which 80
nonplussed Esq. Boots that he Immediately ad.
vanced his rate of checks on%Doctor Morgan to 5
premium. Other banks, with one exception, sold
| at ! through the day. Outside the rates ranged
| from l03 premium. Double AL drawers sold
| freely at /. Time bills went up another peg. We
note sales sixty days sight at the advanced rate OIL
discount, from that to 1@ls covered the rates Of
the day. Sterling was taken by dealers at l06g@
| l07 and lt7l for good style Of clear bills. There
were other sales at l071@lo72 and los for direct
remittance. We did not learn of any large move
ment5 in document bills they range from 106lG
| lQ63, ana perchance a fraction over. Francs have
not ADVANCED so freely. We note sales in small
sums on Paris direct at 5.25 and on Havre at 5.264,
and other movements al 5.282@5.27a. 100000
wero sold by one party and 900 by another,
within these fgnres-thc extremes of the market
being from 5.3515.25.
| There is some slight stir in the share market
| good deal of bantering going on in bank stocks
Several negotiations reported without any treaties
being ratified. oa n
/ The Directors Of the Levee Steam Cotton Pres
ECompany are paying dividend of SRat. This
with dividend of S7ct. paid in January last
makes Il 59ct. this year. Verify, the old wa
horse is looking up, snorting, as it were.
While the rate of interest by the Bank of England
is at get, loans on the Stock Exchange were
effected at get on Government securities Money
| is cheaper in New Orleans just at this momen
than it was in London at the date of the last nd
vices, that is, for securities bearing q reatv,
value. For instance, money can be borrowed OF
short time on bank stocks as security at COS T3et
| In London 7QD8. When the question comes to per
manent loans, or for term Of years, it is idle tc
aude to the realizing of loans of this character in
| this good city of ours. Our men otmoney are few
and far between. True, they do say that some two
and three years paper has been passed at the rate
of 8 f2ct. per annum, but this was not in the form
of loan The securities or paper was In the
shape of notes, payable in two and three years
secured by mortgage bearing get. per annun iii
terest. which being taken into account, leaves 8
very profitable return to the seller or borrower
The following figures denotes the rates of money
on the principal continental exchanges at the las
| dates:
Bank Rate. Open Market