New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-04-04
gfp Orleans lallg Crescent.
FINANCIAL AND COMMERCIAL pEptR TNrrT
i. Iem OrIeans Monfu TfIarkft.
'cssscErE orylsE; 70. g. Camp .sssss,

"A
-tazsasz .5E Wednesday evening. ri 3. Issi.
The tenor of the money market to-day indicated
auietnesa; nevertheless, the calls or offerings at
Che banks were large compared to the incomes.
The falling off in the receipts of cotton, from par
ticFalar sections Of the country, indicate that the
responsibilities assumed last year cannot be pro-
vtded for Il Is manifest that the section Of coun
try bordering on Red river is short, lamentably
so in some respects, and the liberal indulgence,
which for years has been proyerbiaI, will again
have to be appealed to, and course will be re-
sponded to favorable. On the street it was re-
markedly quiet. If the note and discount brokers
had not their hats full of paper and mortgages,
their heads were full Of the offerings at She Metairie
bank, alias the Ridge, and long before the usual
close of business the habsuas of the flags had
yamosed. Even King Cotton for the nonce, was
forgotten, though some parties did say they paid
fifteen cents for some fair cottons The market,
however, had been moved by the advices received
per the Bremen and Hamburg steamers, quoting
an advance of I'D. on low grades in the Liverpool
market At late hour the America, with the
weeks adviees up to the 23d was announced, CON
frming the advance, and quoting Middlng Orleans
at I'D. The financial intelligence is regarded as
favorable, but it had no effect on the market
The money articles of the London and Liverpool
papers have been remarking very freely on the
action of the agents of the Bank Of Louisiana in
anticipating some Of the large sums of exchange
in England which the bank had purchased and
forwarded in the regular course Of business to its
agency in London for collection or to be discount
ed, and the proceeds to be RENTED in gold. On
this simple negotiation great :" how TODD Z has
been manufactured that our old Ajax was borrow
ing gold. z -rs
The English papers have been led into a great
error, Moreover, it is barely possible that the
Bank of England would favor the agents Of the
Bank of Louisiana, as it is weE-known the mana
gers of the % old grandmarm'' have no very
friendly disposition towards the known London
agents of the bank. The one million and more Of
dollars which the agents Of the Louisiana Bank OBJ
tanned was through regular and legitimate dis.
counts Of the exchange running to maturity, which
the bank purchased here in the course of business
and when forwarded it was suggested if the ex.
change could be anticipated at reasonable rates of
interest, and the proceeds RENTED in gold, it
would be satisfactory.
1t appears that the desires of the bank have been
carried out, but the papers on the other side mis-.
understood the transaction. It was not loan but
simply discount of the exchange forwarded by the
has been received in New York by the agents Of
the bank, say 100000. Forty boxes by the Vigo
arrived last Thursday, and e25,e00 by the Niagara
which makes the Ajax have highly respectable
balance to Its credit in New York, which it would
be very glad to draw for in large or small sums at
the present rates of Northern sight funds
Now then, we don't want those folks in London
to be writing any more about our Bank of Louisiana
borrowing gold in Threadneedle street, or any
other place. -.5 aists-
The Exchange market to-day presented dull
and dropping aspect. This was expected from tile
heaviness which prevailed at the close of business
yesterday. The counter rate for checks on New
York ranged from 5@9 premium, according to
sums--round sums, big leks,'' of 100000, were
obtainable at ] premium Outside bankers ranged
at {. The Banks were very chary Of allowing
over premium for sight drafts. Sixty digs sight
2@l down to II f2ct. discount Short sight, say
five to ten days, ranged at from premium to par
Sterling was quiet, though some drawers held at
10s4up to l0S8 and 10S3. We did not learn of any
sales at the latter price. We quote extremes for
clear bills l072MifS3. Bills with documents we
quote from l070l073 and fraction over without
having any large transactions to quote. The mar
ket for francs opened dull moved along sIuggishly
anu eioseu uoei uoliithcy, OF rHther Win no
sales beyond some few rent remittances. We quote
exchange from 5.25@15.2237.
The Stock market was quiet. The only stocks
talked about were those appertainng to the
Metarie bank or Ridge. r.' 5-sa-o
The process verbal of the action of the stock.
holders of the Southern Bank will be found in the
advertising columns. 1t will be observed that
there are several foreign stockholders. This ndi-
Gates that confidence and faith in Southern institu-
tons is strong and paramount. The stockholders
reside in eleven States, besides Louisiana, The
greatest part of the stock is, however, owned in
our midst, as will appear by reference to the no.
tee. We hope ere long to have to announce that
many hundreds of thousands of dollars, if not mil
lions, will be seeking Investment in Southern
securities ~ .-s..
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