New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-02-14
Utu Orleans 9aiIg Gresesnt.
FINANCIAL AND COMMERCIAL DEpARTmEgT
MetU Orlfans 3flmsa MfaYbtt
chHs VET, ogsIez; nv 70 Camp .sraat,

| wednesday ETerSaE, Feb. 49, Is5I {
The tone Of the Money market to-day vras of 4
very tame and quiet character. The supply Of
moRsy is free, with very little paper to- absorb it,
| We do not know what owners Of the dyoss win do
phey will not loan to good and prudent citizens in
small suHas, gay $1,000 to 10000, to erect cottages
and dwelling.houses, nor will they loan or aid in
the erection of cotton or other manufactures,
neither will they assist in the development Of
chanicai Industrial and art undertakings. ADtt1ey
hanker after and crave is good planters drafss on
! good factors, drawn as has heretofore been the
custom, as advances ON crops to grow-that is,
| our moneyed men. as they like to be styled, will
look at only commercial paper Of the first-class;
such as can be turned into gold in about thirty
minutes and placed in Ghe breaches pocket. True,
now and then there may be resident or perma-
nent citizen appear on the flags who will loan on
mortgage securities. Bat it cannot be Disguised
that majority Of dealers in paper are of the
transient class. The banks to-day discounted Will
Fngy of short.dated paper, though the offerings or
calls were light, compared to the income. The in
come of the banks this month is large Several of
item are tapping the exchange market freely,
| taxing large sums; yet they cannot cover all the
offerings, nor wonld it be wise prudent for them
to do so. In the meantime, there is suficiency
SEES and to cover all short.dated paper based on
actual transactions.
The Exchange market in its depression carries
along with it reaction in cotton as notwithstand-
ing the large receipts of gold, very light SENS
come direct to cotton buyers, and there did, the
cotton market would be ruled by exchange as
long as such branch of finance as exchange
would be recognized. The foreign exchange mar
ket was exceedingly heavy through the entire day
Sterling, with documents, was taken at 100, which
covered several transactions We quote extreme
figures for this class at from 99@ioO4 Clear bills
were sold at loo@lol; though remittance rates
ruled from l@3 yet. higher, according to amounts
and some regular drafts were disposed Of at I02.
Francs partook of the dullnesg, and closed under
another decline. We note sales of 800, O00 at 555
@5.523, and others at $50. We quote extremes
from 5.65@5523, and tending downward.
In Stocks the feeling is upward. We note sales
to-day of IS shares Louisiana State Bank at 1853,
and IL shares Bank of Louisiana at 1921, both ex-
dividend. ~
The Board of Directors of the Citizens Bank is
now filled for the current year, by the reappoint.
ment of Messrs. Peter Marcy and Jno L. Macaulay
by the Governor on behalf of the State. The Board
is now composed of: So.
Ex-Governor A. B. Roman, sugar planter.
John G. Gaines, of the firm of Henderson g.
Gaines, crockery merchants.
NJ. Musson, of the firm of John Watt d Co., cot
ton factors. .0D
S. Plassan general commission merchant
T. A. Grand, general commission merchant.
A C. Tremouet of the firm of Darby u Tremou.
let, sugar factors
John L. Macaulay, Western commission mer-
chant.
Peter Marcy, ship owner and ship builder.
The annual report of the President of the Water
Works Department of the Commercial Bank is be-
fore us. The large engines and machinery which |
were ordered in 1859, and which were expected to |
be in position early last summer, were delayed in
consequence of the dsinclination of owners of yes
sells to take freight of the heavy and cumbersome
character: These new engines are soon expected
to be in full working order, when bountful sup
ply of the liquid element of the Mississippi can be
furnished in all parts of the city where the pipes and
conduits laid. The decline and retrograding
of our city has been frequently harped or by
many. Some four or five years ago it was the
standing theme of one of the Memphis papers that
the grass would grow in the streets of New Or
leans within brief space of time; that time has
passed, and our city has been increasing and ex-
panding beyond any previous time. There would
be no increase in the demand for water if there
was no addition to the population. The following
are the sums paid for water by our inhabitants
every year for the last sixteen years: