New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-05-30
94p 4Orleans 9aiIg Qtestent.
WEDNESDAY, MORNING, MAY 30, 1866.
9qw Orleans Stlunep gTlarRet.
CRESCENT OFFICE, No "a CANT sTREET, l
ImhsdhY EXAMINE Mnu 90 1879

however, and, as the demand was at no time much
better than nominal, operations have been restrict
ed to the suhjOined trfling amounts, viz $4,000
at 1888; $250O at 1879; $500, $500 and $4,000 at
1879; $500 and $4,000 at 1877; $4,000 at 1863 $4,000
at 1863 $1,000 and $4,000 at 1861, and $4,000 at
1861. Sales of Silver have been restricted to
1000 Mexican dollars at 1879, and we now
quote Gold at l364@l37l, and Silver at l2O@l23
for American coin, and 137@l38 for Mexican
dollars.
FOREIGN EXCHANGE-The movement in Sterling
and Francs has been of very restricted character
since our last, and rates have uniformly ruled
within the limits of yesterdays quotations. Oher-
fngs were light throughout, while the demand was
at no time much better than nominal, and trans
actions have been confined to the following insig-
nifcant amounts, viz E700 and $4,000 atal49 Tor
clear bills and G230O do. at 14S5; El500 private
sight, El5O0 sixty days and $4,000 do. at $50;
$1,000 bankers and $500 bank, at l5l; and
&2800 Bank Sterling at 1917 Sales of Francs have
been limited to 250OOf. private at 3s5t'; 3O,OoOt'
do. at 380f., and 50,OOOf. and SO,OOOf., Bank
Francs at 3.G23f. The ruling quotations this
evening are: For Bank Sterling l5l@l52, Clear
Bills 14s@15O, Bill of Ladng Bills 14G@l47, Bank
Francs $780,. COT, and outdoor Francs 1850
3SOf
Domestic ExCuANGE-There is no alteration
whatever to report in the movement in Domestic
Exchange The market is still but poorly sup
piled and the demand continues restricted both at
bank and on the street. The following comprise
the only outdoor sales, which have been effected
since our last, viz: $4,000 Providence sight at
~ cent. premium, payable in New York sight at
~ cent. premium $4,000 New York sight at T
cent premium; $4,000 and 81 600 thirty days
sight at ! f3 cent. discount; $40 600 do. at u
cent discount, and $40 900, $4,000 and $4,000 do
at } ~ cent. discount. We continue to quote New
York sight at e cent. premium at bank and 5@5
~ cent. premium in the outdoor market.
BANK NorEs AND SECURITIEs-T only sale OF
Uncurrent Bank Notes that has come to our know.
ledge to-day was $4,000 Louisiana State Bank at
84c., for which 85c. per dollar was subsequently
refused. The movement in securities is partially
suspended, and transactions since our last have
been of too restricted character to call fol-
special notice.
New YORK HARKET-The assistant treasurer al
New York has made such arrangements as ID
avoid creating such a stringency in the money
market as would naturally take place by with
drawing the currency from the banks to pay fol
the recent large purchases of gold from the treas
ury. The Times, of Wednesday, says
And as the banks expected to be called upon to
pay large sums Of money into the treasury on
their certified checks to the gold brokers, out Of
the ordinary Of the daily settlements
through the clearing house, there was some appre
hension early in the day of severe temporary
pressure for money. But this feeling was promptly
relieved at the Treasury Office by assurances from
Mr. Van Dyck, the assistant treasurer of the
United States, that he would neither deliver
nor insist upon payment for the whole Of
broker last night although deliverable at his
option at any time in three days-nor would he
refuse in settlement with the banks whose checks
he would come into possession Of any Of the in
terest bearing obligations Of the government
which they might prefer to tender in preference
to currency. This offer included twelve months
certificates of indebtedness, bearing per cent
interest; certificates of deposit, ten days
notice, bearing per cent; and compound pei
cent. notes, due in 1867 and 1868, all Will
full accrued interest to the present date
This afternoon, we are informed, that the
offer is made to the public generally tt
pay of any Of the certificates of indebtedness ant
any Of the compound u cent. notes, with full &C
crued interest, on presentation at the New YOrl
Office thus saving to the holders of the certificates
of Indebtedness the trouble and delay of sending
them to Washington. The offer to receive the
T3 cent, certificates of deposit waving the ten
days notice, is continued only to such of the assO
Ciated banks in exchange or settlement Of checks
which the assistant treasurer may hold agans
them.
In these liberal arrangements at the treasury
office, ii is not difficult to the early return O
the money markett to a condition of ease, though
at an advance of one or two per cent. in the rates
current to the brokers, compared with las
week, In other words Gm7 per cent in place oil
4G65 per cent The recent sales of gold out of the
treasury, with the premium thereon, will enable
the government to make much larger further re
ductiOn of the public debt in May, than was an
ticipated early in the month"; provided the certif
Gates and notes now invited to be presented fol
payment are forthcoming The secretary, we are
sure, would prefer to pay them off to retaining h
present large gold and currency balances in thu
treasury.
ANTICIPATING OBLIGATIoNs.-Th Secretary O
the Treasury gives notice that he is prepared tt
redeem all certificates of indebtedness falling dut
in June, July and August, with accrued interest
if presented on or before May 81, at which tint
interest will cease.
The World of the 23d says
The news of the panic in London has produced
sympathetic effect upon the market here, though
as yet to no serious extent. The large purchase
of gold from the sub.treasury, for shipment, BY
withdrawing suddenly large amount Of currency
from the banks, has produced a marked derange
ment in the loan market, which is attended with
certain feeling of uneasiness and uncertainty.
This morning there has been a very extensive
changing of loans Early in the morning parties
whose loans had been called in were hurryinl
round the street, and freely offering 7 per cent.
at which rate they mostly found accommodation
so that thus far there has been no realizing upoI
coaterals.
About ! o'clock money was offered somewhat
freely at per cent, and the indications appea
to be that the market will close easier than j
opened.
Assistant Treasurer Van Dyke has stgnifed hi
willingness to waive to the banks the Requirement
of ten days notice upon temporary deposits bu
as yet none Of the banks have felt it necessary t
fall back upon the sub.treasury.
They naturally prefer condition of suppl
which will give then 6QD7 per cent, rate of dis
count and will only withdraw funds from tn
sub-treasury under sharp pressure.
The demand for payments for Gold affords tn
banks an opportunity of getting rid of larg
amount of bank currency for which they have n
use, and will limit their facilities for lending niue
less than is generally supposed.
Yesterday the sub-treasury sold ten millions
Gold, but this morning suspended selling. 1t
understood that q combination had been forme
for buying up SIS 600 600 more shQnld the COVER
ment have continued its sales; anN probably ii
government thought it prudent not to invite sue
extreme operations, and the monetary derang
ments they might cause by Offering more coin.
Should any attempt be made to run up the DR.
MUM to an extreme rate, the government st
stands. with thirtyiye or forty millions of it's og
available coin, to check the attempt.
. Commercial 5nteITi9ente.