New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-06-11
,egq1 Orleans Daily Grcaceut
1&G orleans Ronep gttarhet.
oREsogsr OFFICE, No. 81 gAnp STREET,


the movement for to-day, viz $1,000, s50OO $8O0O
$4,000 and 100000 at.l3s3 $4,000, $4,000, 10000
sl7,5OO and 100000 at 1873 10000 at 1874 $4,000
1879 $1,000 and $4,000 at 1871 $4,000 at 1877
$4,000 at 1861, and $500 at 1885, Sales of Silver
have been restricted to some triRng amounts with.
in the range Of our quotations. which now rule as
follows, viz: Gold l3869l383 and Silver at l34@DI37
for American coin, and 1380l39 for Mexican
dollars.
FOREIGN ExcHANGE-There is no alteration of
any Kind to report under this head. Most of the
leading drawers are unwilling to operate, and the
demand is restricted and but little better than
nominal. One bank however, bought go 900 to.
day at 1909 for $4,000 sixty days sight and 1850
1861 for ELI 900 eightyfve days sight $4,000 also
changed hands, at los for clear bills, and we now
quote bank Sterling at 16O@l6l, clear bills at 1856
0l57; bill of lading bills at l49@l50 bank Francs
at 345G934Of., and outdoor Francs at 3.60@3,5Of
DOMESTIC EXCHANGE-There is no alteration of
any kind to note under this head. Offerings Of
private and commercial still continue very light
and the demand is of a very restricted character,
both at bank and on the street sales since our last
have been confined to $25 900 and $35, 600 New
York sight at u cent premium; $1,000 at ZIG
~ cent. premium, and $4,000, 900, $25 900,
$4,000, $4,000 and $685. 900 at q cent. premium
$4,000 one days sight at u cent premium, and
$4,000, S35 900 do. at the same figures We still
quote New York sight at U cent. premium at
bank, and 8@4 u cent. premium out of doors.
BANK NOTES AND SECURTIEs-There is no no
ticeable alteration of any kind to report in the
movement Of the issue of the several banks in
liquidation. Sales of stock have been confined to-
day to 54 shares jackson railroad at II, and 50 do.
City Railroad Company at 200.
SALES OF REAL ELTATE--By G. e. Girardey q
Co. auctioneers: Frame house on Barracks street,
$3.50; house 81 and GA Union street. $500; cottage
on Clara street, $l420 cottage No. 274 Sixth
street, $1,000; residence at Arcola, $4,000; house
and lots on Love street. S2400
BY the Sheriff: valuable lot of ground in the
Fourth District, Plaquemiue street, between
st. Andrew and Josephine streets, $1,000; lot OF
ground on N0tre Dame street. between Magazine
and Tchoupitoulas streets, $3.50 The undivided
third of fine brick store on Carondelet street,
between Union and Graver streets, $1,000
By J. iB. Walton & Desloade Three two
story brick houses corner of CarOndelet and
Union streets, $40 700; three story brick
store Nos. 81 and 50 Magazine street. between
Poydras and Lafayette Streets S28 500; two
story frame house No. 3l3 Third street, near Poy-
dras street 5000; an elevated frame cottage and
square of ground corner of st. Charles and Upper
line streets, SlI 500 four lots of ground of
julia and Franklin streets, $500; sea.shore pro-
perty at Pascag0ula, $1,000; two lots of ground
corner Of Washington Avenue and Constance
streets, $4,000; one lot of ground on Thalia street.
between Howard and Freret streets, S575; four
lots Of ground on Felicity Road between Prytania
and St. Charles street, $500 Scrip of the differ
ent assurances, $l0706 so.
By Alfred Bouligny Two lots of ground, with
three story brick buildings, in square bounded by
TchOupitoulas, Notre Dame, Julia and Commerce
Streets l6 feet front, 60 feet deep-One $3175 the
other at $500; with eighty-two shares of Cid
zens Bank mortgage department stock thereon /;
also, vacant lot in square bounded by Deord
AGwfF nj Nam fT'1tr. ask1a-1
streets, ri feet inches, by 60 feet, for S7O0.
By g. de FERRET House and LOT known as No
4l9 Royal street, between Champ Elysees and
harigny streets, % feet by l27 for s7450; also a
lot Of ground with small dwelling house, 201 feet
by 127, adjoining, for $1,000; house and two lots
known as No. 100 Piety street, GA feet by So feet,
between Desire andaCraps streets, for $780, also,
three lots of ground in square bounded by Cas-
acatvo Congress, Elmira and Moreau streets, for
$685..
TIE LONDON TINES AND THE BANK AcT.-The
inconsistencies of the London Times are fully in
comprehensive. Its remarks on the occasion Of
the new panic are new proof Of'its entire dsre-
gard Of principles and consistency,
In its issue Of Saturday May II, the Times said,
in regard to the suspension Of the restrictions of
the bank act
We are persuaded that had the government
stood firm, the panic would have subsidized OF itself;
the men of business going into the city to-day
would have felt ashamed OF yesterdays madness,
and it, as we expect confidence be speedily re-
rather than to the interference of the executive
government"
In its issue of Monday, 18th, the Thunderer
says:
THAT panic which on Friday threatened to over
throw the entire commercial credit of the metropO-
lis. That panic, readers are now aware,
far exceeds the proportions to which deliGacy and
discretion reduced it in the newspapers though
even they told sad tale. The concession of the
chancellor of the exchequer, not an hour too
early, as it came out, has alayed the panic and it
r can longer be apprehended that any bank may
have to shut its doors the refusal of the State to
lend its own ineXhaustible credit for the passing
hour"
And in its money article, written Saturday even
ing it said:
of its fury can be best estimated, and every one
can now see what would have been the peril if the
events of yesterday had been allowed to gain force
for another four-andtwenty-h 1t
was only the belief in the immediate announce
ment of some palliative measure that prevented
the rush upon our moneyed institution from assum-
ing tenfold degree Of intensity, and it is the
opinion of every man of experience that if to-day
had been allowed to open without an intimation Of
relief, scarcely bank in the kingdom would have
escaped attack"
The Times has been constant defender of the
Bank Act, and the innumerable financial, CONNER.
cial and industrial wrecks which this fatal measure
has repeatedly produced in England and elsewhere
in no way enlightens this advocate of the human
regulation of social affairs On Thursday evening,
May 10, its financial editor wrote;
" The sole evil now to be dealt with is panic
The cure of the finance mania has long ago been
wrought, and the prices of the shares of these
schemes have fallen to point to leave, as far as
they are concerned, little more to dread but it is
now for those who represent the wealth and solid
ity of London to decide whether their sagacty
and resources are so feeble as to render it impos
sible for them to devise any means of stemming an
insane torrent that must not only affect the metro
polls and all the great provincial centers of oul
commerce, as well as our Indian our colonial and
foreign markets. but will at once lead to suspen
sion of public workssthroughout the kingdom, suct
as exist in every district, to throw thousands o.
people out OF employment.
/" 1t is the instantaneous transition from a state
of wild expansion of credit to a total stoppage O.
credit that has brought us to the present pass
The introduction of credit in a new, safe anC
legitimate way can alone supply the remedy"
Aud on Saturday evening, May H. he added:
&c Although the bank charged nine and ten ne
cent these terms were wholly Intellectual for tn
preservation of its reserve; and the same or wors
would have been the case if the rate had bee,
put up to twenty since the panic and the conse
quent necessity for the country and other bank
to obtain money on any conditions, would simpI
thereby have been increased"
And in its editorial columns of the 18th of Nav
the Times says:
We believe, as we have said, that the sus
pension Of the act was unnecessary, and it ca
easily be proved from this weeks experience tina
the maintenance BOf the law in ordinary timas