New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-19
0so Orleans Dailp Crescent.
FINANCIAL AND COMMERCIAL Departures,
Nsm 0rIexNs HEansv gIlarket.
oaKsczsr o,,loE; No. 70 razap street

CRESCENT OFFICE. No. 10 Camp street /,
Friday Evening. Jsa. J3, 1851. 8
The tone of tho money market in general is urf.
changed; though scarcity Of the needful ard high
rates Of usanee appear to be paramount On the
minds of people, yet there is a surplus Of usem-
ployed means. If holders thereof do not choose to
let it out it will not prevent the sun from rising az
usual tomorrow. There were negotiations and
losss effected to-day at the rate Of IL igct. per
annum on Al paper having ninety days to run.
Mortgage securities are negotiated at from 10@I2
and Is get Thers is no money, however, to be
realized borrowed, raised or advanced for specu-
lative purposes. Trpe, buyer of paper does not
care how money loaned or proceeds of paper are
invested, SO long as he can realize cent per cent
There Is very little inquiry or demand for money or
loans among the tonsors. There is no business
going on that will justify 9, 23@s get per month";
and we have no transactions to note within this
range of figures, though there may have been.
In stocks the transactions have been light during
the week. Sales Of Louisiana State Bank at 100
are the only movements we have heard of, except
ing the sale of Canal Bank at 1O5a There have
been some few shares of some Of the free banks at
9O0G5, but not Sufficient to warrant the usual
table of quotations. The sales of the State Bank
were SO shares at l60.
otherwise called scrip. Rates OF prices vary
Some dealers are paying one price, and other
dealers are paying other prices. Whether some of
the companies are not buying their own issues, we
cannot say. But five or six companies are pretty
flush, and move to great advantage, as well as
harmoniously promising that the general money
| market isin a harmonious position. There are a
good many outside remarks about operations in
access than others. 1t may, however, be nothing
| more than contest between Bulls and Bears.
| The general Exchange market to-day was rather
| quiet, though at some Of the banks there was a
| good demand for checks on New York at dis.
Double AL drawers sold at s@13 discount, the gem
eral rate outside ranging from FOL discount. The
banks were buying at all fractional rates. say from
! E@l to II discount for good sight on New York.
There were sales of day sight at discount for
special purposes. Sales of tes days sight at II dis.
Sales of sixty days sight at 81 dis, which is all we
can say about sixty day bills of the very best good
and Indifferent In sterling there transactions
at 102@lO3 up to l04, which were the highest
figures large dealers were paying. Some of the
banks are out of the market for the nonce. There
were sales purchases for remittance at 104St1l05
about EGO 600. Other little bills at 1861. Francs
| appear tO Ne lnOTe Ill uenldHu we nOte safes Vi
AL on Paris direct at $40, making extreme quota
tions to range from 5.55@5.5O to $40. $40 will
hardly pay to sell in New York, but that is nothing
| to us. We desire the flow of gold to continue
hither.
| The financial and commercial connections be.
| tween st. Louis and New Orleans are so extensive
and we hope mutually beneficial that we often al,
| lude to the money market of st. Louis. It is well
known that the banks of St. Louis led off in the
race of suspending coin payments, that is, five out
of the six placed themselves in this predicament
without any cause or reason; in fact, we have moi
met with any justification of the course, and it is
with some surprise that we observe that five banks
in St. Louis have declared dividends to stockhold
ers while under suspension This may be called
the very essence of banking on wind and paper
Five banks, which do notpay coin, make dividends
of 79ct. The sixth, the Exchange Bank, which
has not suspended, pays f9ct. We take it TO
granted that this Exchange Bank is something of
garden spot, or perhaps more accurately speaking
diamond institution. We published two days sine
the very satisfactory statement of this Exchang
Bank. Its connections and correspondents all owe
the country are it is presumed, of the same char
acter, that is so far as its agency and connection
in this city are concerned, which agency is on
Southern Bank, another of the ultra-bullion instu
for banks to be declaring dividends while in a stat
of suspension. 1t looks as though they were desir
Gus of getting on the " anxious seat"
The following is the statement of one of the sus
pended or inanimate banks of St. Louis. It is call
ed the Union Bank, and appears to go for thu
union of suspension: