New Orleans daily crescent. [volume] ([New Orleans, La.]) 1851-1866, 1866-06-13
Rtett


The Board of Bf6Hers held two regular sessions
to-day having been the first actual meetings for
business operations of that body. Important du. |
ties in other departments deprived US of the
pleasure of witnessing their operations how.
ever, but their polite secretary has furnished
ms with the following report of their proceed
ings, viz 30 shares stock OF the Commercial
Water Works Co. at544 80 do at So, and 30 do. at
So IS shares Gas Light Co.'s stock at 1872 and IS
do. at the same figure 80 shares Southern
Bank at 96 10 do. Bank of America
at l2s; do. Gas Co. at 1913; rs do Union
Bank at oily 10 do. Crescent City Bank at
AZ, $4,000 City Bonds to railroads, with May and
November coupons attached at S34 $500 Mer-
chants Insurance script Of 1858, at 81 OF, $500
Louisiana State, of -, At SIC, $500 Gold at 1879,
$4,000 do at 1891, $4,000 do 1899, $4,000 do at the
latter figure, and $4,000 do at 14O.
The movement in the out of door Gold market
to-day has disclosed considerable fuetuation,
which, however, has been mostly influenced by the
alterations in the New York market. We subioin
the rates in the latter at various hours of the day
as follows, viz: New York, June 12.--Gold opened
at l43S II A. NJ, 1881; 11:30 A. NJ, lazy IL M.
l45 l2;3O P. NJ, A3 l:30P ~, l41E; 4P. NJ, 1882
Sales in our market have been effected in the sub
Joined order, viz $4,000 at 1879; $4,000 at 1879
$4,000 at III; $1,000 at 1861 SIS, GOO at 1868
$4,000 at the same figure; $50 600 at 1877 ; $4,000,
$4,000 and $35 600 at the same rate; $4,000 at
l39; $4,000 at 40; $1,000 at 1405 $4,000
at l40li $500 at 1893; $4,000 at 1879; $1,000
at 1881; $4,000 at 1873; $4,000 and $4,000 at
lS75 and $1,000, $4,000 and $1,000 at 1859. Sales
Of Silver have been confined to some small lots of
American coin at our quotations, and to 500 Mexi-
can dollars at " cent. premium On Gold. The
present ruling figures are l4O0lH for Gold, 134GD
1871 for American Silver coin, and l40561l4l4 for
Mexican dollars.
FOREIGN ExcHASGE.-The news BY the steam.
ship Scotia, announcing still further reduction in
rates Of y. 5. SOS, has caused another advance
in rates Of Foreign Exchange, as well az in Gold.
Offerings Of private and commercial continue very
light, however, and the demand is still of a re.
strcted character both at bank andupon the street
We annex particulars Of the few sales which have
transpired since our last, as follows, viz; Rl700
clear bills, in the morning, at las, G250O at $50,
&25OO at l5l $4,000, $4,000, in two lots, and f3OO0
the latter bank draft, at l53 $4,000 do. at the
same, $4,000 at l5I and $500 at 1914. Sales of
Francs have been confined to 10,OO0f. at 35Of.,
35,O00f. at the same figure, and some smaller lots
for gold on private terms. We now quote Sterling
at lj48l55 at bank, clear bills l5l@l52, and bill
of ading bills at 1496915O, and Francs at $500 "a
3.45f. at bank, and 3.6Of03.55f in the outdoor
market.
DOMESTIC ExcHANGE-Is weaker, and we have
to reduce our quotations this evening Offerings
of private and commercial exhibit no marked in
crease whatever, but owing to the recent heavy
sales Of Cotton on Northern account, buyers are
Unfolding backforlower figures ndheavier offerings
while the bank rate has been necessarily reduced
by the outside pressure. The purchases by banks
and bankers since our last include 500 900
Boston sight taken by bank to-day, at sic
and 100000, engaged by the same, to be delivered
tomorrow, at 5-l6 y cent prem; $4,000 New
York do. at the same figure $50 900 do. at / Il
cent prem; $4,000 ten days Boston sight at par
and 5000 fifteen days do. at par. The closing
rates this evening are 38j % cent prem. at bank
and f93 % cent. prem. out of doors, for sigh
checks on the Northern cities.
BANK NoTEs AND sEGuRITrEs-There has beer
nothing done in the former since our last and sale
of the latter only included the following, viz
shares Gas stock at 1927 80 do. City Railroad Com
pany, at price that has been withheld; and s4OO
Louisiana State Bonds, with July coupons at
tached, at 10, The movement in Uncurrent BanE
Notes has almost wholly abated, while that in Sc
curities has been transferred to the Board o
Brokers'
The PANIC IN EEGLAND.--Engltsb Official Cir
otdar-The following is the text of the circula
transmitted by the foreign office to the Britisl
embassies and legations throughout Europe:
FOREIGN OFFICE, May u, 1866.
Sir-Ihe monetary crisis through which thi
country is passing will naturally attract grea
attention in other countries, and it is therefore de
sirable that clear conception should be forme
both of its nature and probable extent, but NOR
particularly of the measures her Majesty's govern
ment have adopted to enable the mercantile com
munites to meet the difficulties of the present sit
uation.
Long prosperity ia commercial affairs
and the general wealth consequent on it, hav
produced their ordinary results in enGouragin
speculation, especially of monetary or iDancif
character, and fostering hopes of acquiring wealt
by more speedy means than are presented by tn
ordinary methods of commercial industry. Again
the events which are taking place on the contineI
have tended not only to produce immediate d.
rangement in commercial transactions, but also
shSke. Chat confidence in the future without whiG
an 20 sound state in monetary matters
no " looked for.
e immediate cause, however, Of the crisis la
IN the stoppage of the great discount house
0yerend, Quincy u Co., in whose hands wer
lodged many millions sterling, which, in otht
times, would in great part have formed an
which, perhaps, ought to have formed the II
serves of the various private and joint stock banl
of the country. This failure directed the aetio
was to be apprehended that the movementin ii
capital would be followed by similar agitation
the rest Of the kingdom, where, in addition to Il
large deposits in the hands of the bankers, thel
are many millions of paper circulation resting on
on the commercial credit Of the issuers.
In this state of things it could not be surpri
ing that the reserve OF the Bank of England WI
heavily affected yesterday; and it was the con
4 bined consideration of what had then actual
happened, and of what might follow on subsequel
days, which induced her maiesty's government
adopt the measure on which, in the course Of IL
evening, they decided; for the money drawn fro
the banks having been Withdrawn from circulate
under the influence of panic, the Bank of EnglaI
ID might, without some new resource have been U
able to continue its accustomed assistance TIL
the crisis which had been anxiously apprehend,
from this combination of circumstances has con
at last, but with severity and suddenness in !
gard to its immediate consequences which con
not have been anticipated
The Bank of England is prepared to extand
lief to the utmost of its MEANS to ali casas Viii
justly deserving of its support wbiro i" II 4
majesty's government, in full reliance IN :
eventual sanction of Parliament if II sbogI5
necessary to go beyond the law as il now stan,
have signfed to the Bank of England Their s' ~,
mission to hold itself free from the observanope
the ordinary limitation on its issues in the exige
niaS nf tha unb itS