The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-03-10
Dew Orleans Monsp Market.
CRESCENT OFFICE, No. "a OAxr sfRnEr,
Tuesday Evening. March 2, 1869.

CRESCENT OFrICK, No. "a OANr STRnEf.l
Tuesday Evening. March g. 1852 J
There is nothing in the recent movement Of the
money market that calls for special notice. Cur
rency shows q steady increase, while the demands
for accommodation exhibit a moderate improve
ment. Rates Of interest and discount continue to
repeat previous figures. IS follows, viz: per
cent per annum at bank and l@ll u cent. per
month out of doors for short git-edge paper, and
l0@l2 ~ cent. per annum for long dated notes,
secured by strictly AL city mortgage.
GOLD AND SILvER-Operations in the precious
metals show but little If any increase, while rates
have continued to fuctuste with the same rapidity
IS for some time past. Quotations of Gold vary
from hour TO hour, in accordance with the altera-
tons of the New York market, and those of Sill.
yer continue to rule at 304 points below Gold
rates for American halves and quarters, aud 24G3
" cent. premium on Gold for Mexican dollars.
The sales were $4,000 at 1919 $40. 900 at l3ls9
l3l3 $4,000 at 1919; $4,000 and $lO, 900 at 1917
$1,000. sll0o, $1,000, 5000 and $4,000 at 1872
closing at l3l3@l3l2. Nothing reported in
Silver.
FoREIGN ExCHANGE.-The continued restricted
movement in cotton for the European markets has
materially tended to diminish the supply Of Com
mercisl Sterling and Francs. The demand on the
part of remitters has disclosed an equal and per-
hsps greater falling of, however, and rates
have alternated to correspond with the 1uctua-
tons in Gold and Foreign bills at New York.
The sales to-day have been $4,000 Commercial
Sterling at 14l3D142; fl500 aud $4,000 do. at l42;
$4,000 Al do. at l424; f2500 AL bill sding Sterling
at l42s; f2500 Al GEAR at l423; $4,000 bank and
private bankers at 1881; $4,000 Commercial
Francs at 3964f.; and 40,000f., so 000f. and 90.
000f. do. at 395f. We quote bank Sterling at
l43@l434; commercial do. at l420l423; bank
Francs at S.9S2@3.923; and commercial do. at
397@G3 964
DOMESTIC ExCHANGE-The tendency of rates of
domestic exchange has been uniformly in favor of
drawers and sellers since the date of our last
view. Like foreign, supplies have been restricted,
owing to limited purchases of cotton, while the
demand for sight checks on the North has exhib-
tied steady and at times heavy increase. The
following comprise the principal sales to-day, viz:
900 sight on New York at premium; $4,000,
$4,000, $50 600, $50, 900 and $50 600 do. at pre-
MUM; $40 900 sight on Boston at premium;
SIS 600 sixty days sight on Boston at II discount;
$4,000 sight on st. Louis at premium aud $4,000
twenty days date al discount. We quote bank
sight on New York at premium and commercial
do. at 10 premium. d.
UScURRKNr NOTES AND SEcURrrIEs-There have
been some alterations noticeable in quotations of
Uncurrent Notes and Securities since our last
but prices on the whole have been very well main
tanned. The market is still fairly supplied with
most descriptions, and the demand continues
steady with fair indications of future augmented
operations. Having in previous articles furnished
full particulars of the actual sales up to last
evening, however, 1t is now only necessary to add
a statement of this days sales, which we do as
follows, viz: $4,000 and $40 900 city treasury notes
at ga discount; $4,000 Louisiana Bank notes at
49, 1000 State warrants at S6adS7; $4,000
six u cent. levee bonds at 723; $4,000 eight y
cent do. at 92} 240 shares Opelousas Railroad
BOARD OF BRoKERs-The sales at the board
tonight were Is shares Southern Bank stock at
ss4 per share 5000 city ten per cent. bonds at
par. This the highest figure yet reached for the
latter.
SPECIAL DIsrArcHxs.-we are Indebted to the
Western Union Telegraph Line for copies Of the
following private dispatches received from that
route to-day, viz:
Neac York, March 30 A. M.-Gold opened at
1919. 1880 A. N.-Gold 1919. Cotton market dull
and nominal. Middling 294c., Mobile 294c., Or.
leans 29lc. Sterling l0SSGl09l. IL M.--Gold 1914.
Cotton dull and nominal Sterling steady. P.
M.-Gold closed at 1914. Cotton quiet and weak.
Sales GOO bales. Prices entirely nominal Sterling
steady.
Liverpool, March 9. ILLS A. Motion market
quiet. Estim ated sales 1000 bales. Upands 12td.,
Orleans l2gd. l:2o P. N.-Cotton market easier.
Prices not quotsbly lower. Estimated sales 7000
bales. 8 P. M.-Cotton market quiet. Sales to-
day 5000 bales. Prices unchanged.
London, March 9-1l;l5 A.. M.-Consols 92}1
92E. 520's s23 lao P. M.-Consols 92s GD93, 5-20's
S. a SrA asS s2ss sa9n szi
quiet. Tres Ordinaire l.42, low middling afoat
LA. EveniDg.-Cotton closed quiet. Prices un-
changed.
COLLECTION OF DEBrs.-The New York Journal
Of Commerce, of the Gath ult, in its financial arti
Gle. has the following:
We have received an earnest appeal from Mr..
Clark, q dry goods merchant at the West, against
the statutes which permit the arrest and imprison-
ment Of man for debt, under the nominal charge
Of fraud and misrepresentation. We have always
thought that much injustice was frequently done
in these arrests sharp creditors being in the habit
of using the criminal process for the collection Of
debts that were honestly incurred, and where the
defalcaton is owing to misfortune and not dishon.
esty. But where one honest debtor suffers from
this cause, there are twenty rogues allowed to
slip through who ought TO be punished. We favor
q far more perfect law Ito punish fraud, and the
abolition OF all legal process for the collection OF
ordinary debts. The world will come to this in
time, and before many years are over. Such
change would be premium on good character
and an honest name, instead of bid for fraud and
knsvery, as many superficial judges infer through
ignorance or prejudice. The reason why "honor"
in the payment Of obligations is so high among
cause il IL all the capital there employed. When
a debt cannot be legally enforced, the debtor is
placed upon his honor. We wish that ell debts
had this base only, unless where other security
was given at the time the obligation was con-
tacted. Then punish fraud and misrepreseDta-
ton as they Deserve, and the distinction between
misfortune and dishonesty would be more widely
marked, and those who are simply unfortunate
would not be punished in the same fashion a.
rogues.
The PHILADBLPHIA FOURTH NATIONAL BASK.-
The causes which led to the suspension Of this
bank are stated by the Philadelphia Commercial
Price List as follows:
In Q word, then, the matter stands as follows:
During the last eight months or more the cashier
has been advancing the funds Of the bank In Al