The New Orleans crescent. [volume] (New Orleans, La.) 1866-1869, 1869-02-24
gew Orleans ElOnen Sfarket.


There is if anything a still further falling off
noticeable in offerings of strictly paper for
discount. All of the banks are amply supplied
with currency and anxious to use their surplus
on satisfactory terms. but the cash sales of our
merchants and the promptitude with which coun-
try obligations are being met prevent anything
in the shape of striDgency and keep frst-class
houses constantly flush. hates of interest and dis
count are still unchanged, however, and we would
again repeat: 10 cent. IL annum at bank and all
Pcent. ~ month out of doors for short gilt edged
paper, and l0Ol2 % cent % annum for long dated
notes secured by strictly AL city mortgage.
GOLD AND SILVER = Transactions under the
above heading have disclosed a very depressed
condition Of the specie market since the close Of
our last weekly review. Offerings of Gold,
though light, were more than ample TO meet ordi-
nary requirements throughout, and the demand
has been almost exclusively confined to purchases
for the pay ment of duties from the opening of the
week. Rates have varied from day to day, however,
in accordance with alterations in quotations at New
York, and on the whole prices have fuctuated to
a much greater extent than for corresponding
days in several previous weeks. Silver has been
scarce and IN fair request throughout, and the
tridng lots thrown upon the market have sold at
prices disproportionatey high as compared with
Gold. The Gold sales to-day were SIS 600 and
s25 coo at 1881; s35 900 at 1873 Gl33t $4,000 at
1891; $4,000 and s25 GOO at 1887; $4,000 at 1882
@lS33 SIS 600 at 1888 SIS 900 at 1885; sl0000st
1887, and $4,000 early ia the day at l344. We quote
this evening Gold l3S@l33f. We note sales of
$500 American Half Dollars at l3ll and $4,000
early in the day at 1924. We quote Mexican
Dollars l353@l36, and American Half Dollars at
13l@13l3.
FOREIGN ExcHANGE-With o very depressing
Gold market during the past three days rates Of
Sterling and Francs have still further receded.
The offering supply Of commercial has been very
light throughout. however, owing to the limited
character of European purchases OF the leading
staples, but the demand has also been of an I'M
usually restricted character, and prices steadily
ruled in favor of buyers. The sales to-day have
been f4OC0 AL Sterling at IA; $4,000 do at l44l
E2500 and f2500 bankers Sterling at IA l. and
80 600 private bankers Francs at 3SSf We quote
bank Sterling at l44@l444 commercial o.sltl430
l434, bank Francs at 3.90(D3.S64f., and CONNER
cisl do at 3.95@D3.934f.
DOMESTIC ExCHANGE-UnusuaI drmness has
been the characteristic feature of the Domestic
Exchange market since the date of our last regu-
lar summary. The market was at no time better
than moderately supplied with commercial sight or
short sight, while the remittance demand continued
steady throughout, and previous extreme figures
have been generally and firmly maintained, till
nearly the close of business to-day when slight
reaction commenced. We append the days sales
as follows. viz: $4,000 sight on New York at !c.
discount; $40 O00 SIS O00 s35 900 $50 O00 $50 000
100000 and 500, 900 do. at par; $4,000 do. at
/ Ice. premium; $4,000 do. at l.l6Glc. premium;
$40, 900 do. at ic. premium; $500 do. az &c. dis
count 600 three days sight on New York at
&C. discount; $4,000 thirty days sight on Boston at
lc. discount; $1,000 thirty daye' date on Augusta,
Ca, at &c. discount; $4,000 sight on Chicago at
c. discount; 5000 sight Petersburg, Va, at lc.
discount; $500 thirty days date 90 Columbus,
Ca. with exchange on New York at l y cent. dis
count. We quote bank sight on New York at "a
&c. premium, and commercial do. par to 5c. dis
count.
UNcuRRENT NOTES AND SECURITIES Transac-
tions under the above heading exhibited some
alterations during the past three days. but on the
whole the tendency Of prices has been in favor of
holders. We have heretofore given full particu-
/ ars of the regular movement up to evening how
ever, and we deem it only necessary TO add an ac
curate statement of this days sales which We do
as follows, viz $4,000 City Treasury notes at
"a; $40 000 do. buyers option ten days at 233
$4,000 six per cent. Levee bonds az II $4,000
State notes at Sc $4,000 Metropolitan Police war
rants at s53 $1,000 do. at $50; $1,000 and $1,000
do. at Sc; $1,000 deliverable IN ten days at So
$40, 900 state warrants at S70S71 $4,000 Bank of
Louisiana notes at 30 cents y dollar; SO 900 do
at 800; $4,000 and $751; 600 do. at 81: 100 shares
Carroton Railroad at $ss so per share.
BoARDskoF Brownsville following comprise
the sales at the bosrd tonight. viz: $4,000 and
$4,000 Gold at 1885, $1,000 do. at 1885, $1,000 do, a.
1885, 50 shares Crescs f Bank nix at $50 per share.
SPECIAL DIsPATcHEs.-we are Indebted to the
Western Union Telegraph Line for copies of the
following private dispatches received from that
route to-day, viz:
Ne,o York, FEB. 23-lO A. M-Gold opened at
1884. 1870 A. M.-Gold 1929. Cotton very firm
holders asking higher rates. Sterling steady.
l2M.-Gold 1879. Cotton demand fair; prices ad-
Notwithstanding 294c., Mobile 29lc., Orleans soc.
Sterling steady. 3 p. n.-Gold closed at 49,.
Cotton demand moderate; prices firm. Sales 1900
bales. Middling 29lc., Mobile &c.,, Orleans 3O4e.
Sterling l094@l09s.
Liverpool, FEB. 23-1l:l5 A. Motion market
active. Estimated sales 10000 bales UpIands
I'D, Orleans l24d. l:20 P. Motion market
active. Estimated sales Is, 600 bales. Uplands II
0l2ld, Orleans l24@l23d. p. M.-COtton mar
ket active. Estimated ssles Is 600 bales. Quota
tons unchanged. Shipments from Bombay since
last report to the 10Th inst 20, 600 bales.
London, Feb. 23-ll:l5 A. M.-Consols 93s.
5 20s, 7S4.
BdUre, FEB. 23.-A. M.-Cotton opens firm.
Tres ordinaire l.39, low middling afioat LAO.
PAYMENT OF ALTERED CHEoKs.-The following
report of the case of Lyman Bellknap ct al. vs..
the National Bank of North America, decided by
the Massachusetts, Supreme Court on the l2th, Is
from the Boston Advertiser:
The plaintiffs sent to the postofhce by clerk
two sealed letters to be mailed. In each was con-
tanned check to the order of the party to whsm
the letter was addressed. The checks had been
filed out by the clerk under the instructions OF
the plaintiffs bookkeeper, by whom they were
afterwards examined and sealed up In the letters
they had previously been left with the Dookkeeper
by The plaintiffs signed in blank. The clerk 40.
seconded On the next day and has never been heard
from since. The parties to whom the letters were
addressed never received them. IL turned out
that the checks had been taken from the sealed
enyeIops the printed words " or order " Cancelled,
and the words or bearer" written in after the
name of the payee in the clerks hand writing, and
In that form they had been presented at the bank
on the morning the clerk absconded, and mad
there been paid. In drawing the checks q
blank space had been left between the
name of the payee and the printed words 9 or
order.n and il was in this space the words or
bearer had been subsequently written; The
cancellation Of the words or bearer mad oeen
snbseouently written. The cancellation OF the
words or order was in led pencil, but in lines
heavy and dark. .,
The defendants introduced evidence to show that
IL was common at the Boston banks to pay checks
and The words " or bearer" substituted. and that
the cancellation In the present case appeared to
he in ink. and commended that they had used due
diligence. CO..
In the Superior Court verdict WasIendereo IoI
A.. dafendants. The Supreme Court have now set