The New Orleans crescent., 1869-03-27

CRzsczH. oryrcz, No. u CAny srxrss,
Friday Evening. March 26. 1853.

There has been no change worthy of notice in
the money market during the week. Continued
ease is still its leading feature. Currency con-
tinues very abundant and the demands for accom-
Of interest and discount remain nominally un-
changed, however, and we would again repeat
% cent. u annum at bank, and l@l4 B cent. h
month out of doors for short gilt edged paper and
l0@l2 % cent. % annum for long date notes
secured Dy strictly AL city mortgage.
GOLD AND SILvKR-Operations in the precious
metals have exhibited but little, if any. increase
while rates have remained comparatively steady
and but little variation has been noticeable Gold
has continued in moderate supply, while the de-
mand has been very light. In Silver but little has
been done. American halves aud quarters conti-
nue. to rule 2t@3 points below Gold, and Mexican
dollars at 2343 per cent. premium on Gold rates.
Gold opened in New York this morning at 1871
against l3lt the closing rates of last evening; at
IL N. and at p. NJ, when the market closed. il
ST cd at the same figures. The only sale we
heard to day was $1,000 at 1872. In Silver. we note
the sale of $1,000 American half-dollars at 129.
FOREIGN ExCHANeE-0peration in Sterling and
Francs have shown considerable increase since
the date Of our last weekly review, although rates
have remained comparatively steady. Owing to
increased purchases of Cotton on European &C.
count offerings have been quite liberal, while the
demand has been fair throughout. though at no
time active or general There have been no
transactions In this market to-day.
DOMESTIC ExcHASsE.-0perations under this
heading have been of very moderate character
throughout the e tire week under review. The
same causes which have depressed the Foreign
Exchange market have had their effect on the Do
mestic. The remittance inquiry has been of re-
stricted character, while the offerings of CONNER
cial sight and short sight, owing to large purchases
Of cotton on Northern account have been greatly
increased. The only sales reported to-day Is
$4,000 Western bank check. payable in New
York at premium.
UNouRRENr NorEs AND SEcURIrEs-Trsnsac.
tions in this line have been of q very restricted
character throughout the entire week. The in
qury has at no time been active or general, while
on the other hand offerings have been very light
In comparison with previous weeks. Rates Of all
classes have generally been very steady, no
changes worthy Of notice having taken place.
The only sale to-day was SIS 900 City treasury
notes, buyers option, fifteen days at 253 discount.
CHANGE OF BANK OFFrcERs.-C. T. Buddecke,
Esq.,, has just resigned the presidency of the City
National Bank of this city, and has been succeeded
BY Fred. Del. Bondio, Esq. While regretting the
withdrawal Of the former, we can but admire the
Judgment displayed In the selection of the latter.
Mr.. Louis Schneider, of the firm of Schneider &
Zuberber. has been elected vice president of the
above bank-another good appointment.
SPECIAL DIsPArCHEs.-we are indebted to the
Western Union Telegraph Line for copies of the
following private dispatches received from that
Ne,o York, March 26--lO A. x-Gold opened
at 1917. 10:45 A. M.-Gold 1914. Cotton quiet
and steady; bid: middling 284c.; Mobile 29c.
Orleans 294c. Sterling 10S@l09. IL M.-Gold
1914. Cotton quiet and steady; middling 2S2c.
Mobile 29c.; Orleans 293c. Sterling steady. 2
p. M.-Gold closed at 1914. Cotton quiet but
steady. Sales 700 bales; middng 2slc; Mobile
&c.; Orleans 2slc. Sterling steady. No more re-
ports to-day.
wHo TO TRusr-TRe Credit Pdytner.-Deci-
dedly the most responsible position in dry goods
jobbipg house is that occupied by the partner who
decides upon the credits. II matters not how
shrewd the other members of the firm may be, no
matter how careful they are and attentive to their
respective duties, if he who grants the credits,
who decides the serious question of the responsi.
bility of their customers, is not competent, then
all their exertions are of no avail and financial ruin
Is constantly staring at them.
competent credit partner has better knowl.
edge Of the laws relative to the collection of debts
in the different States than many professional
lawyers, for he knows the practical operation Of
the laws.
He Is also an excellent book keeper and shrewd
business man, with iund OF reliable information
relative to the business prospecn OF AZ secuoos
OF the country. In numerous instances tne failure
Of firm has been traced directly 70 the incompe-
tency Of their credit partner. Usually not enough
attention is given to this subject.
Generally be who has the most capital at stake
IN the ono selected. or. perhaps, having more