New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1861-03-02
Jle6 OrIeans 1uiIp Crestent.
FINANCIAL AVID COMMERCIAL DEPARTMENT
5ltU 0rIsans 3tl0nty HIarhst.

CREsoEr7 OFFICE. No. 70 can1r street, ! |
FIJI lay ksening, March I. 1871. |
After ffE? very depressing. commercial and fnan |
caI advcea received yesterday, it could hardly De
expected that t1e general financial market should |
to-day be attended with the usual equilibrium;
therefore, we haYe very dr7l market to base our
remarks on this eT2ning The usual routine Of bnsf |
ness progressed in and about the banks, and it is
pleasing to observe the general good hun3or among
the chief executive managers of cur banks. True, |
respected friend Boots becomes little excited
now and then, as was She case to-day, when ne was |
going with spurs on for some choice so days sight
on New York. Money is accommodating on deposit |
with our banks, and general business is apprcEi~
mating to sphere which will obvate the necessity
of merchants, dealers and traders, daily being
sellers of paper applicants for loans. Though
there daily negotiations Of paper, the amount
in every case is so restricted that we can readily
say there is no real paper market. Some few
transactions entered up at the rate Of 10, IL
and u get for special purposes, share being for
renewal. But the same paper, which year ago
went quick at 99o5 get, now rules at ll05l2 get.
If there is any real paper market the rates may be
quoted from 1209l5 yet. The tonsors more
liberal they take freely from their customers and
! dependents at from ll142 get. per month. These
|
York for the same description of securities. They
pirate good deal in NewYorl about money being
so very available and abundant at j@1G and yet,
when there is not one borrower in hundred that
can borrow at q4ct. We know that last week
1 the very hest of exchange bills. drawn here in
New Orleans on the first houses in New York, were
discounted at the rate of i,t., and the very same
grades of paper were thankfully received by our
banks at the rate of i3;t. per annum. When the
bank rate of interest in New York is alluded to, it
must be considered as Get. The general run of
commercial paper in New York cannot be cashed
lower than at the rate Of 100 aud 10 pct.
The Exchange market to-day did not recover
from the depression OF yesterday: though the
counter rate for checks on New York was steady
at from l13 discount, the demand was feeble.
Outside the rates ranged from 1Glj discount, with
a little quitting as low as discount. Thirty days
sight at from l5GGll discount; sixty days sight,
excepting for some very fayorc names, 24923
and q to at. discount opening and closing
very heavy. At the same time double AL 60 days
bankers bills sold at 1892 discount. Sterling
was heavy through the day. Clear bills ranged
from lO36l04 and documents were taken at 1923
We quote from l020glO3 for bills ladng, and l03M
l04 for clear: for remittance something higher
saw l044Gll044, and though some parties hold at
lOj it was like attempting to move big load up
HILL Francs were Offering at 5.45G95 AL on Paris
dir ct-very little done. We quote extreme rates
from 555m5.421. By Monday next we hope to
have more regular state of movements to quote
The Stock market was quiet today. There are
buvers at the lower prices which have been ruling
for some weeks past. Holders do not feel dispOs
ed to accept. Sales have been made during the
week of Bank of Louisiana at l550ll56: State Banl
at l5GMl57: Citizens Bunk at 235 Mechanics
and Traders Bank at 90: Crescent City Bank a
50. Southern Bank is held at llO-very little offer
ing. Bank of New Orleans is not offered with any
freedom. There buyers in abundance if the,
can realize at their views.
In Bonds we did not learn of a sale. 1t is u9eles
to make quotations. Gas Light Company stoc'
will be taken freely at lG0 Water.Works Com
pany in request at GO0l521. Miscellaneous stock
in general dull and not inquired for.
The movements in uncurrent money have bee
light South Carolina, Georgia. North Carolint
and Virginia issues range from sol t}ct. discoun
Alabama banks outside of Mobile, 306 act. di
count: Kentucky 203 i3ct discount; Tennesst
banks at all prices. Indiana SOS Oct. discoun
Free banks of Illinois, Wisconsin and Iowa eco
53ct. discount. Missouri banks uncertain.
Foreign gold is taken freely of all kinds. Me2
can dollars command l023 American silver co
is plenty and purchased over the counter at 9s3
3d. and resold at from 4@4 get advance.
Nothing doing in land warrants. The gre
question of public lands is unsettled.
RECEIPTS OF SrEcE Ncv Orleans from the 10th