New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-01-01
Ueh Orleans 9aiIg Gresttnt.
FINANCIAL AND COMMERCIAL DEPARTMENT.
geU Orleans 5tluneu 5flarkft.
oRksoEsI oFrioE, No. 70 Camp street,

Monday Evening Dec. 81, 1900. /
The year 1850 closes this night, but as II neither
Affects the general, financial and commercial in
terests of our emporium, it is unnecessary to make
any extended remarks, having at the close Of the
commercial year, on the 3lst August, written out
and published m annual review, we have nothing
more to comment On than the usual daily position
of the markets.
The movements in and about the banks were
confined to some renewals of paper, small amount
of new discounts, the selling of exchange on New
York, and the purchase of the same. The calls for
discounts were not in excess of~t6e income: Witch
goes to show that the community has reduced the
volume OF trade within comfortable limits. Though
our banks are ln~the most impregnable position,
they are not More so than due regard to the gem
eFai financial safety requires. Some managers
think the Gordon of safety is in having from 75c 90
81 20 OF gold in vaults to cover both circulation
and deposits, even when they have on deposit with
the State authorities full and ample securities for
all of their circulation. This is very favorable
augury, and conveys the intent that let the worst
come to the worst during the present political
crisis, the banks intend to be prepared. This is
commendable. On the other hand, should an old
chartered bank expand or discount few hundred
thousands of dollars, it would lead to millions of
paper being made throughout the great West, and
forwarded here for discount, and New York funds
taken for proceeds, or rather the gold which is now
safely esconced in the vaults, would be speedily
lying away from us to the disadvantage and pre-
JUDGE of not only local interests, but of all in
terests connected with Southern commercial and
financial independence.
-Four days later advices from Liverpool were re-
ceived to-day. The cotton accounts were deemed
favorable, and acted on conformably, and details
OF sales will be found elsewhere. They do not
appear to regard our political disturbance on the
Liverpool flags with any great feeling.
The steamer Canada, of the 18th, arrived Mt
Boston, brings $3.50, coo in gold, which, with the
previous shipments (the last per Fulton from
Havre) makes $3.50, 600 received from the other
side since the lat inst. We, however, want more.
or rather expect more, and we shall continue to
receive it until sterling exchange goes up in New
York up to lO64@107.
The exchange market to-day was in some re-
spects dull, The counter rata at the banks for
checks on New York was firm at 363f discount,
and an old bank on Camp street was in the open
market, and took freely at all sorts Of prices. 1t
is supposed from lG95 and yet discount, clean.
ing out one or two large sellers. What is in the
wind? Are they extremely anxious for good sights
in New York? Three days sight ranged from La
Il discount. Sixty days was taken at from 33613y
to get discount; but very moderate transactions
at the inside tigure-hardly quotabe. There were
several transactions in sterling at 10l65l0l5 and
and l02 for clear al, and 9809o and 100 for doc
uments. There were sales for remittance at 1925
0l023 and l03, but these are exceptions. Francs
ruled at from 56O@5.573 for AL commercial, and
5.5505.523 for remittance-extreme rates. broad.
say 6.7o(0].60 up to the inside figures. 5.524.
The banks are moving in the way,of commitments
to their stockholders. The President and Directors
of the Bank of New Orleans this evening declared
a dividend of get from the last six months earn
ings, payable on and after the lOth January. For
view OF the very strong position of the bank we
refer to the last return to the Board of Currency
wherein it shows coin in vault 1850 900, which
is $4,000 above its deposits and distant balances
say Sc yet coin for all circulation and deposits or
cash liabilities.
There il some feeling about stocks. We note
sales of SO shares Bank of Louisiana at LIS and |
100 and odd shares Canal Bank at ll3 dividend on
POSITION OF THE BANKS OF NETg ORZFIvc nv |
ITv Df