The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-03-11
Ben Orleans Monsp E,arAet.
o's 1s,,s os'i Essu 10; No. ossl SIT

TUESDAY Evening. March 10. l5c4 !
There has been no let up noticeable in
the increase Of currency since the clese Of
our last review, Friday evening, the 9th
ibst. The banks and private capitalists would
be Tree lenders, but the demand for accommoda-
ton disclosed steady abatement, and although
the former continue TO investbeavily In Exchange
their balances sill show a rapid aud heavy accu-
mutation. No variation has transpired 10 rates Of
discount or interest, however, and none bat gilt
edged paper can be placed upon anything Ike
satisfactory terms. The prevailing figures are
q cent. per snnum at bank and lDli y cent. per
month out Of doors for short close Obligations, and
l09l2 Z cent per annnm for long dated notes
secured by strictly Al city mortgage.
GOLD AND se-VER--The Gold market has been
subjected to fewer and less violent alterations dur
ing the past three days than for some time pre-
vous. owing 10 greater steadiness in the New York
market. The demand and supply have been light
throughout however. and the aggregate mosemsst
has disclosed a material diminatlon with slightly
downward tendency compared with cores
pending days IN previous weeks. silver has been
dealt In TO only nominal extent since the date Of
our last summary. offerings have been of too
restricted character to attract special at
tention, and the few lots thrown upon
the market have been absorbed at lS31lSl for
American Halves and Quarters, aad ll2Gl43 for
Mexican Dollars. The purchases today com-
pTised the appended amounts, viz: 5000,
1880 aud sl0l50e at l4l 81, 900 at l40iDlH;
$1,000. $4,000 and 1000 at ll0l 900 at 1901
5000 at 1901 and a $1,000 Gold check at u cent.
discount The closing rates this evening were
l4clQll02 for Gold ls2Gi3l for American Sill
yer coin. and l42Ql43 for Mexican dollars.
FOREIGN ExCHANGE-The tendency Of rates OF
Sterling and Francs has been steadily downward
from the opening of the present commercial
week. With heavy daily purchases OF Cotton for
foreign account the market has been amply sup
piled with all grades Of bills, while buyers have
continued stringent in their selections, and none
but favorably recognized names could have been
at any time placed upon satisfactory terms. The
movement since our last included the annexed
actual sales, viz: El500 bank Sterling at 1881;
el500 do. at 1923; $1,000 do at 1921: flOO0,
$1,000 and $4,000 Al commercial do. at 1919 fl500
and f6O00 do. az 1914; $1,000 bill OF lading do at
15l@l5li; fs500 do. at 1901; $4,000 do. at los for
Cold; aud 26O,OO0f. Al commercial Francs at
375f.; and 275, 000f. do. at 3.7JiD3.723. We
nov quote bank sterling at 1880 1881; clear bills
at l5241l52t; bill of lading bills at l5lGl52:
bank Francs at 3.7093 6slG; and commercial
+ anes at 3.7593 72Bf.
Domestic MISUNDERSTANDING hrmness has
been the most noticeable feature Of the Domestic
Exchange market during the past three days.
The daily Offering supply has been OF very
limited character throughout, owing to the very
triiDg purchases of Cotton for the North and
East, while the remittance demand has exhibited
q steady improvement, and rates have been adj
vRnced both at bank and upon the streets. Tie
total sales today included only the Appended
amounts, viz $40 $25 OO0 $4,000, $4,000
and $50, 600 bankers New York sight at b ceat.
discount, $50 600 bank d.. az ZIG cent discount,
$4,000 and $4,000 do. GIG u cent discount,
$4,000 do; at ! y cent. discount, 5000
ten days do. At l b cent. discount. sud
$50 coo DO. II y cent. DISCOUNT. The ruliag
figures this evening were l03 y cent. discount at
tank 9-l6@ll l6 Il cent. discount out Of doors
for sight checks on he Northern cities.
UNCURRENT NOTEs AND SECURITIES There has
been 8 slight Improvement noticeable in the
issues OF the city to-day, bat the demand is still
restricted and operations since our last have
comprised only the annexed sales, VIZ $4,000
small city notes in lots At l5t y cent. discount
$1,000 do. at l5 u cent. discount; $4,000 do. b0ughs
by one broker al l6. and sold at retail at Is %
cent. discount; $1,000 and $4,000 do at l5} u cent.
discount $1,000 large at l6i y cent. discount, aud
$500 louisiana State notes at 5I3 y cent. dis
count. An idea has gained cre1encs to-day that
two Of our most prominent banks have at last
come 20 the rescue OF the city so Tar as regards
the outstanding circulation, and that 1t Is 10 con.
temptation 70 advance a sufficient amount OF
gfeeDbacks TO absorb part or the whole OF the
present promises 10 pay of the Crescent City.
We do not vouch for the fact however, as corpo-
rations are not supposed 10 possess souls but we
cannot see with the most effective lenses how the
banks could suffer by coming 70 the aid OF the
city. In the vaults Of the former there
ere locked up millions Of useless dollars
while an advance TO the city OF
three or four millions Of dollars would not be ma
teriailyfelt by them, although IL would enable the
city 20 cancel the whole Of its outstanding shin
plssteTs-which could be guaranteed TO the
banks by bonds running five or twenty years at
q cent interest, and would enable the widow and
tie orphan, who now go 10 and return from the
various markets Of the city with empty baskets,
although they may be amply supplied with The
Almighty city currency, 20 go forth rejoicing.
This Is no fancy sketch. The minions OF power
and place have an awful responsibility resting
upon them, and they cannot too soon bring the
tanks on other adjancts TO their aid IL they expect
20 avoid the inds nant menaces Of an sed
community.
BOARD OF Brownsville sales at the Board last
night Included the following. viz: rs shares Back
of New Orleans at 293; 80 shares Bank OF L0uisi
ana at Il $1,000 Louisiana State notes at 54c. y
dollar; $500 at 523 $1,000 city small notes at l5t
z cent discount $500 do. at l51. $500 do. at l5s
and 1900 large at l63 3 cent. discount.
SPECIAL DIsPATCnEs.-We are Indebted 70
the Western Union Telegraph lins for copies of
the following private dispatches received over
that route to-day, viz:
Neso York Morch 1910 A. M.-Gold
opens lao. IL A. N. Gold l40i Cotton de-
nand fair, but at lower rates Aiddings
253c. Mobile 2Gc., Orleans 264s. Sterling 1910
llO!. 2M.--GOld lao. Sterling l09s QUO. Cot
ton market dull prices unchanged. NO pressure
20 sell. $50 T. Mold 1891 Cotton market
irregular. Sales $50 bales; Middings 25c., Mobile
25sc., Orleans 26c. Selling generally firm at pre-
viOus rates. 4 p. Mold closed 1895. Sterling
steady. Cotton market firm, holders asking higher
rates; market more active. Middlings 251e., Mo-
bile &c.,, Orleans 263c.
Liverpool March i0-li:l5 A. M-Cetton mar
ket quiet sales 1000 bales; Uplands l0lGl0A.,
Orleans l04c. 100 P.E.-Cotton market quiet but
steady; quotations UNCHANGED.
London, Mdrch l0-ll;l5 A. M.-Consols $50
93A. 5-20s 7ls@7li. lao P. M.-Consols $50
9Si 2Os 7lt@7l4.