The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-03-19
Hem erlsans @anfp 5Iarhet.
Un,scxxs OFFICE, No. y cAn ssszss, I
Thursday Evening. March Is. l86a

w. CKuBCEH OBHrcu, NO ~ CAMY BKzuux,
Ihursdas Kvsnins March Is. lssR )
We have no material change to note in this
market. Gold op ened in New York this morning
ct 1919 against 1914, the closing rate yesterday.
At 1880 A. n. IL stood at 1871 At II NJ. IL ruled
were $1,000 $40, 900, and s25 900 at 1915 $4,000
at 1919 to 1871; $4,000 at 1917; $500, 5000 and
$40 600 at 132. The marked closed at l3l39l3l3.
Nothing is reported In silver.
FoREIeN ExcHASGE-0wing to the demand
having fallen off, the market being well supplied,
and adverse news from New York. this market
has been unsteady to-day, and figures have ruled
lower. We refer to the subjoined transactions for
the actual movements Of the day: fl600 aud
$1,000 commercial sterling at AL; $4,000 al 40.
and Is 900 private bankers do. at -. We now
quote bank sterling at l4230l42l: commercial do.
at l4la@l42, bank francs at 3.96303 IS, and com.
mercisi do. at 3.ssl@3.s7t
variation to report in transactions under this head.
ing. Offerings Of commercial sight and short
sight continue limited. The remittance demand
is still fair at premium. The principal purchases
by banks and bankers are embraced 10 the follow
ing, viz $4,000, $500 and $50 900 sight on New
York at premium SIC, 900 do. at 5 Is premium;
$40 600, SIS coo, SIS 600. SIS 900 and $4,000 do.
at premium; $50 900 do. at 7-l6 premium; $22,.
600 i've days. sight on New York at premium;
SIS, 900 and us 600 sixty days sight on New York
premium; $1,000 sight On Boston At premium;
$4,000 fvo days sight on st. Louis ct discount.
We quote bank sight on New York at premium
and commercial DO. Of }@} premium.
UNcURRKSr Norris AND SECURITIES. Operations
under this heading generally continue limited.
City Treasury Notes have been more inquired for
at drmer rates, and several sales have been made
n " ssssk @
tons Of the day We refer to the following, viz (:
$4,000 and $4,000 City Treasury Notes st 2sa
discount; $1,000 and $4,000 do. at 264; SIS, 900 do.
ss5 coo do. deliverable Saturday ct 26; $4,000
do buyers option, twenty days, at Is $3.50
State Notes at s93 $4,000 Levee Six Per Cent
Bonds at So; $50 shares Bank Of New Or
leans stock at $40 Is y share 200 shares do. ct
road stock at 500 SO y share.
Sales of Ship Islsnd at IS per share were re-.
ported on the street yesterday. II Is stated that
lot of 100 shares changed hands ct that figure.
BOARD OF BRoKERs-The following comprise
the sales at the board to night, viz: $1,000 city
bonds at 20; 100 and 100 shares Opelousas Rail-
road stock at 81 rs per share. ~ e
SPECIAL DrsPArcHEs.-we are Indebted to the
Western Union Telegraph Line for copies Of the
following private dispatches received from that
Te,c York, March 1910 A. x.-Gold opened
at 1914. 1880 A. M.-Gold 1914; cotton market
dull and nominal; prices dropping; sterling
l0sf@l09s. II N.--Gold l3lt; cotton dull and
heavy, but holders unwilling to make concessions
middling 2sAc.; Mobile 2s4c.; Orleans &c.; ster-
ling steady. 8 p. M.-Gold closed ct l3l cotton
market dull prices unchanged: sales 700 bales
middling 2sac; Mobile 2slc.; Orleans 2sc.; ster-
u f,ps1oot. March IS. HIS A. x-Cotton market
ket dull estimated sales 5000 bales; upands la
I2td.; Orleans l2l012sd. lao r. M.-Cotton
dull; prices unchanged; estimated sales 6000
bales. s P. M.-Cotton market fiat sales to-day
5000 bales; uplands I'D; Orleans l24d.
London, March 1S-ll:l5 A. M.-Consols $50
$751;; bonds 63;. l:20 p. M.-Consols unchanged
Harre, March II, A. M-Cotton opens fiat
tres ordinsire LAS; low middlings snoat l.43A.
THE NORTH CAROLINA DEBr.-The Louisville
Courier Journal says: 1f
| In consequence Of the criminal mismanagemenI
of the affairs of North Carolina by the Rsdica
Congress and its agents. the debt Of that State
the LIST OF Oct. 1867, was ST., 900. The amount
was considered frightful, but the Radical ofgAnI
| in North Carolina assured the people that the
heavy expenditure had been for extraordinary
purposes and that II would be ct once greatly re
| duced. Surely II should have been greatly 70
| duced, for there has been all the time q much
quiet in North Carolina a. IN any other State o.
l the South, II not more. But Radical domination
with all its reckless extravagancies, has continued
there and the debt In reported on the LIST Of Feb
ruary 1862 sl3 s1s 200, that the coneressiona
scheme, within very brief period, has actually
y
! already Of appalling magnitude. s1o'
CERTIFIED CBscKs.--Congress never made
sssAtsr mistake than 1t did In passing, towards thI
| close Of the last session, an oct prohibiting
i national banks from certifying checks. w
| cannot believe that the majority Of those WHIT
voted for II understood the real intent OF the act
| If they had attempted by legislation to dam NJ
| the Hudson, and prevent its waters from flowing
| freely to the ocean, they would not have inter
l fered more directly with trade and commerc'
thay they have done. In both cases other modes
\ of accomplishing the same end would necessaril.
i be found; the river In abort time would obtaiI
another outlet, and 90 too the business interest
| making checks good" Already many, II no
| all, of the city banks avoid the law IN vsriou
| Ways and many weeks will not pass before SOM
| OF them at least win 20 back, and become agaiI
l State institutions. We can see In this . goot
illustration Of the folly of attempting by ileeisla
ton to interfere with the course OF business which
/ custom has established. cfs1D ren r
| Bssides, there 10 no reason or excuse for thu
/ Law vhatsoever. II ID were new question whe
ther the banks should certify the checks Of theil
customers, there might be plausibiity In the argu
| ment that there was great risk In doing Il. Blu
| this d Q custom which has been followed slmos
since our banks were first organized, and the
| amount Of the certifcstons now reach millions o.
dollars daily, while the losses have not averaged
l fifty dollars year. We assert, then, IN the ligh
of experience, that there h no risk, and maj
who claims TO the contrary cannot know what hs
is talking about. i e simply mode Which mer
their large transactions. II A were to buy Of
tomorrow . cargo Of tee for cash costing Nv
hundred thousand dollars. and he'd on hand onl,
one hundred thousand dollars IN cash, be woul
20 to the bank 70 get his check csrtined Tor III
whole amount. % that be could pay for II aud thu
get the warehouse receipt showing the transfer o