New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-03-26
gelu Orleans Bully Grestent.
OFFICIAL JOURNAL ID
OF
THE STATE OF LOUISIANA.
MONDAY MORNING, MARCH 2s, 1866.
Financial and Commercial Summary.

Financial and Commercial Summary.
God declined on Saturday fully 23623 T3 cent.
owing to the advices from New York of reduc
ton in that market of over 8 u cent. for the Q
hours ending IL NJ. on Saturday. The low ruling
figures, however, prompted speculative demand
which resulted in heavy operations for the day
and doubtless checked the further downward ten
dency of prices. The closing rates were 1233@l24
against 126@l264, which were the ruling quota
tons on Friday evening.
| Foreign EIchange-Rates of both sterling ant
francs have fallen off at least U cent since ou
| last, in sympathy with the gold movement and il
| consequence of the depression in foreign bills a
the North. Offerings were heavy on Saturday, bu
the demand throughout was of very restricted
character, and sales showed a marked reduction
on the previous daily average movement. The
market closed languid and dropping, at l34013t
for bank sterling, l32Dl33 for clear bills 13O0l3l
for bill of ladng bills, 4.184f.@4.16{f. for bank
francs, and 4.30f.04.25f. for outdoor francs.
Domestic Exchanged was a very heavy
counter demand for remittance purposes on Satur
day, with unusually heavy sales at some of the
banks. The checking rate fell off, nevertheless
not on account of any increase in the offerings o1
private or commercial, which in fact appeared to
be more scarce than heretofore, but owing ex.
clusiyely to the decline in foreion bis which hava
far son,e tima nast constituted +bo rr;no,a, hos;e
Of domestic exchange. The c1osino ratas wera
ms at bsnlr ana sGaa sa cont diso.n,+ o,t =,
doors for New York sirht. zoal for five 10 ton
days, sipht. 14013 for fif4aon to +yantv dave In
II for thirty days'. and 2m25 per
cent. discount for sixtv davs, sinht.
(;,yon The ,oovemep+ in tba stan,o hos boo,,
partially suspended since onr last owing to the
reduction in nrices at New York and to the heavy
denresson in rates Of pold and foreirn exchange
RIVERS eenera,,v refnsed to orerata nm satnrda y
o,-oo,,t ., e..,,sas - ,,h;sl raoa.
e"'op' "' ~" q nsuie ~ winch 'nos' i"''oiS io-
fused 10 submit, and the sales Tor the day were
limited to 1926 bales, at irregular, and in some
casaa Iouer nrioau bnt n,os+v within tho ranaa ot
..' r 900 -
previous quotations' winch were o-gooc. lot or
dinary, 35W36c. for good ordinary, 3703Sc. for
low middup, and 4Om4lc, for middline,
e,,o,ro,,G zroJ,eooo Tboro 10 ,o ootir;+, ,o+;oa.
,SoN' u,'~ N,''' - ~ "o'' n0"'N
aole in elther the nome OF lhe Iorelgh pfoaucton.
Offerings though not heavy are ample to meet an
ordinary demand, but the inquiry continues re-
t;45 So ; 49,, ~. t, 49,, ..
s'c'eu' anu sa'es siiie0 Jul i"s' nave h7eA ooi''
hhed 70 rev small lois al previous prices.
Western Produce-There was moderate bust
ness transacted on SATURDAY. in aonr corn and
..4z =. De-. ,,a, a,,u - -
JAWS a' fiioaS quo'a'ions. DRAM vas uuit '' q
further decline of &C., and hay was dealt IN to a
fair extent S27 so for Eastern and $50 9 ton for
nrime Western
I,a,,ts., rr,. ,, e Ill ou.;,,o, or,
foosSt0's'-in0 ueiia'i" ioi al d" 'ioie' enie
braced under this head continues quite limited,
and the movement is almost exclusively restricted
tn retail oneratons The rn]inp quotations will be
fonnd i, onr commercial art;c,e
Notic0o1 Rn11s and Notionnz Go7.enc,,.-The
rrtarna, Pavonna Racord in notici,o the va,ions
Observation-Disclosures aaoat resnectinp National
Ranks and National Rank currancv sovs.
The vaak,v statements nnb,isbad rolotiuo l. :.
sue of national bank currency are liable to he
misunderstood by many persons who have been
1nloImea tnat me amouns OF clrculatlon limited by
is that national banks have been orranzed ne h;n laJ
are entitled to the full extent of the provisions
made by law; but it is impossible to prepare and
e ~ a suesu d 1he aou' oi circulation
led Hence the annarent dscrenancyy 1ie organ
Another fact in relation to national banks which
is not generally understood may also require an ex
sy,n and sa Sg S55 l.
the currency; while the fact is, that no national
bn nmher o1e tha 1s months
sRs s% sss ass s!s sss g K % ; s;ssss Ss
l anu eu lheil papers PRIOR 10 the hrst
certificate of authority for the reason that thair
outstanding State circulation is in excess Of the
amount ai'oMeo py law lor NATIONAL banks The
commence business wban tba;r nld lur Iem 70
reduced to ninety per cent. of their eanitaT 80
U. S. Seven Thirties-The buyers Of II.
73O y cent treasury bonds should bear in mind the
reserved option of the government on the third
series of July Is, 1865, to nav the interest at tho
rate of per cent in gold, in place of 7.ao ner
cent in currency. The second and first series have
no such option attached. We remind parties in.
terested as holders or buyers of the distinction in
view of the possibility that even the next 18th
July interest on the third series may be paid at the
rate of per cent, should gold continna IN dec,no
to 122@l20 per cent by that time.
The New York exnorts faxo,rs;r. of ,,.a;.> !.
N" :" N'A''usi'e VI specie) 70
torelgn ports, Tor the week ending March 18th,
and since the beginning of the year, compare as
follows:
1854 1865 1sss
30 por the week s3Ss ihs $S6s7542 ss,66936
A'''''N''' 'epo''u Ho.Ioa,0oo so zo1,zoo o6s
Since January L.. $780, los OIL $4ss4474s s457W 4a
Tho Nav yor,, ;,,,o,.,
" po' ~. 70 'oiipaie as loilo"s:
General merchandise 2si77S 81 III a5ss ~
,.--7,a. - -------
prsxisv nu ren"rtsd a. Sass ao5
-e@ ---o---o. S.e :. ~. -. ~ oo,-ooYO-
Since January l l857,9B s22 665,265 $6l.e7O sO7
Gold and SiLUeY' P9'OduCtiOn-Thn vaIua of rol5