The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1868-07-22
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Tnashau Eranina InlY 81 1888

IL was still quoted al the opening inquire, and at
p. NJ. it closed at l43. The movement 10 this mar
ket has exhibited considerable uniformity OF rates
throughout the day, but with restricted demand
and supply operations have been confined TO the
appended amounts, viz: 900 Gold at l42B,
$1,000 do. at l42, $1,000 $1,000 and ST., 900 do. at
1924, $1,000 and $l3 600 do. at l424. Sales Of Sill.
yer have been confined TO driblets. Wenow quote
Gold l42@l42t American Silver coin l36@l36t,
and Mexican dollars l4640l47
FOREIGN STANDARDIZATION in Sterling and
Francs are still almost exclusively confined to
bank and bankers Exchange, as the supply of
commercial foreign bills is almost wholly ex-
hsusted, with but little prospect of any material
augmentation during the remainder OF the season.
The remittance demand is still Of barely moderate
extent and The ruling quotations are wholly infu-
enced by the variations in Gold and foreign bills
at New York. We subjoin particulars Of the
total movement to-day, viz: G400 bank Sterling
at 1854, $1,000 Al commercial do. at Isl. Yester-
day, not previously reported, sale of 300, 0OOf.
Al commercial Francs was made at 3 $50. We
now quote bank Sterling l5SG1l5s4. clear bills Isl
@l57a, bill of ladng bills l559Gl564. bank Francs
1914, and commercial do. 3.63l0p3 60.
DOMESTIC ExCHANGE-The movement under the
above heading has disclosed but little if any varia.
ton since our last. The supply of commercial
sight and short sight was Of very limited char
acter from the opening TO the close of business,
and the inquiry on the part of RENTERS at no
time of an active or general tendency. The an
Dexed statement embraces the total purchases by
banks and bankers during the day. viz: $40 900
New York commercial sight ct 81 cent. premium,
SIS 600 do. at y cent. premium, $4,000 do. at
u cent premium and $40 600 do. at 1882 u cent.
premium. We still quote b cent. premium at
bank. and tG4 ~ cent. premium out Of doors for
sight checks on Northern cities.
- UNCURRENT NOTES AND SECURITIES -Louisiana
State notes are firm, while city notes are if any.
thing slightly weaker. The demand for both indi.
Gates but little if any improvement, however, and
the limited character of operations would not just
fly any quoiable alteration in rates. Bank of
Louisiana notes are still opelessy neglected and
transactions in the general run of stocks and
bonds disclose a continued partial suspension of
business. In fact, the following are the only ac
tual sales reported under the above heading to-
day, viz: sl2,500 city notes at $50 d cent dis
count, AS Levee State bonds at 54lc., $1,000 and
$4,000 Louisiana State notes at 664 and $4,000 at
66lc., $4,000 and SIS 600 do. at 673c., $4,000 and
5000 do. at 6Sc., and $4,000 do at 6S5c % dollar
80 shares Citizens Bank stock on private terms,
and leo do. at sl44 u share.
5PKoIAL DIsrAFUHEs.-We are indebted to
the Western Union Telegraph line for copies of
She following private dispatches received from
Neto York. July 2l-l0 A. M.-Gold opened at
1925. 1870 A. M.-GOld l425. Cotton market
quiet but weak; mddling 3l46t32c., Mobile &c.,
Orleans 324c. Sterling Il050llOl. IL Mold
l42g. Cotton quiet and weak, middling Size;
Sterling steady.
liverpool, july 21.-llI5 A. M.-Cotton mar
ket heavy. Estimated sales 1000 bales. Up.
lands l0Id, Orleans I'D. l:20 P. Motion
unchanged. Sales 5000 bales. 3 P. M.-Cotton
market heavy. Estimated sales 5000 bales. Up.
lands l0ld. @l0gd., Orleans LID. @lI!d.
London, July 2l.-3 P. M.-COnsols and bonds
unchanged.
The London Times, commenting on the state.
meDt of the Bank of England for the week ending
June Sd, wherein it is shown that the notes in cir.
culstion amount to ga, 225, 4s6 and bullion f2l,
969,739, says:
"A peculiar feature of the existing position of
the Bank of England accounts consists in the
largeness of the amount of the nete circulation in
the bands Of the public, the total being unprece.
dented with the exception of a few weeks during
last autumn, and the period of the panic of 1866.
Ii is a million more than at the corresponding
date Of last year, and near four millions in excess
of it's ordinary amount in the years preceding the
crisis. The only apparent explanation must be
found in the assumption either that trade is uni
versally prosperous and active or that the low
ness of the rate to be obtained for the employ
ment OF money in any class of securities the pub
lie are disposed to trust. leads to a careless alb
soTption Of the circulation in counting houses or
private homes. That the latter is the true one
may be inferred from the experience of the years
that Immediately succeeded the great panic Of
Is48. The gold in the bank then touched point
higher than it had reached and which had not
since been equaed except recently, and the total
of notes In the hands Of the public at one mo-
ment was f23 sl3 ,055, or within e4l3, 43O of their
present amount, the complaints of the stagnation
of every form Of enterprise being at that date as
universal as at the present.
An INTERESTING CASE IN THE UNITED STATES
CoURT FOR VIRGNIA.-Chief Justice Chase, on
Monday, gave some interesting and important in.
struciioDs TO jury in the case of Moore x Brother
OF Baltimore, VS.. Foster Moore, of Norfolk, in
the United States Circuit Court at Richmond. The
facts IN the case, as we find them stated in the
Richmond papers of yesterday, are briefly as fol.
lows:
In 1850, Foster & Moore, of Norfolk, owed
Moore Brother of Baltimore, 1920 due by me-
gOtisble notes, which fell due during the occupa-
ton of Norfolk by the Confederate army. After
the evacuation of that city Moore q Brother came
to Norfolk, and Foster & Moore agreed to pay the
amount of their liabilities TO them in Virginia
money. Foster Moore then bought draft for
$1,000, drawn by the Bank of Windsor, N. c.. on
the Bank Of Portsmouth. This draft was indorsed
by Maury Co., Smith, of Norfolk, and other re.
Eponsible parties, and made payable to the order
OF Moore Brother, TO whom it was sent. They
neglected to have the draft presented, and some
two months afterWsrd the Bank of Portsmouth
Tan its assets into the Confederate lines. They
held the draft until 1867, and it was never paid.
Under these circumstances, Moore & Brother
brought suit on the original notes, and rendered
the draft back to Foster Moore, who refused to
receive il.
The chief Justices instructions to the jury were
as follows:
First-That any draft, bill or note drawn in the
Confederate States, or in any State under the
proclamation OF the president declared in insur.
Tecion, or in part of them, Except such part as
was permanently and absolutely under the control
Of the forces of the United States) upon any
person or persons n the federal lines, lodS dbS0-
thereto, and was not to be received in payment or
satisfaction Of any debt even due to a loyal man
but there being question as TO whether the
Bank Of Windsor was, at the time this draft was
drawn. in the federal or Confederate lines, that
question the jury must decide.
second-That the jury must be satisfied that the
plaintiffs accepted this draft in satisfaction Of the
debt due them upon good evidence.
~. Y. Journal Of Commerce, 18th inst
CONVERSION OF SEVEN HIRTIEs.-A gentleman
In Wisconsin, who had been told that for his
seVen.thirties the government would give him
nve'tWenty bonds OF 1867, but that he must take
nVe months currency interest, wrote to Secretary
neInIloeb, and was informed in reply, under date
Oh July 10, That persons Offering June and July
seVen-thnty notes for conversion prior to the lst
pro1mo, Will receive bonds of either 1867 or 1865,
as they may direct, both Of which bear interest
from July L, 1865, payable in coin. Interest Is
allowed upon the seyenthrties up TO the time that
interest on the bonds commences
National inteligeacer, July H.
INSTRUMENTS REQUIRING SrAMPs.-Au notes and
evidences OF debt, five cents on each 800; If
under 500 FIVE cents if over 800, five cents on
aah al Il 80 -