New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-03
Monetary and Commercial.
MON ETARX.
oFFIoEn CT TIE P SIa,. RE IfI "a

GF THE DAILY
THURSDAY EVENING. July 2. less
The money market proper continues in
the same condition as noticed in our prevl-
GUS report. The supply of available capital
is ample for the accommodation of all good
borrowers, but the demand tor discounts 1s
moderate, and the movement is circum>
scribed accordingly. The banks discount
most of the approved paper offered by
their customers, and are free lenders for
short periods on satisfactory collaterals.
The street rates for good notes secured
by collaterals are l@l3 u cent u month.
Mortgage paper on productive property In
the business part Of the city is done at 100
IL % cent % annum, and on dwellings or
lots in other parts at l39l5.
At meeting of the Board of Directors OF
the City Railroad company held yesterday
DULY y dividend of 81 % share was de-
clared, payable to the stockholders on and
after the thirteenth, the internal revenue
tax on which will be paid by the company.
Gold opened at 1898 against l4O9 at New
York;, and closed at about l3939l39}. The
movement has been very light, the sales in
GLIDING $1,000, $1,000 $4,000, and Sl2, 900 at
J 392; $1,000, $1,000, and $4,000 at 1897. In
silver $500 in American halfdollars sold at
1850; $1,000 at l95l@l36; and l400 Mexican
dollars at l444. Yesterday, not included in
our previous report, S25O0 in American half
dollars changed hands at 1856. We now
quote 135@l35A for the latter and l4348144
for Mexican dollars.
There was more animation in the market
for foreign exchange, but still the business
was only to a limited extent. The sales of
sterling include $4,000 AL clear at 1885;
f1G00 bank at 1856; f2000 do (sixty days. at
1l04 for gold; and f2500 (sighO at ll0j. In
francs we note a sale of 60, 600 private bank
ers' on Havre at 3.67A. Sterling may
be quoted nominally at 1854 9l533 land
l532 Tor good to Al bill of lading and clear
and l543@l5j for bank; aud francs at 8 700
3.693 for the former, and 3.65@3.62t for the
latter.
The market for domestic exchange con-
tinues dull, without any material variation
in rates. The banks checked on New York
at l0} % cent premium (mostly at the
| former), but they met with very slight
counter demand. The sales of commercial
include $4,000, $40 600, S12,O and SIS, 600
| New York sight at par, and $1,000 at l-l6
| fB cent premium.
Nothing was reported in stocks excepting
20 shares Bank OF New Orleans at SIS so,
There has been quite an active demand
| for Levee State bonds, and rates have i'm
| proved materially, the transactions in
Guiding II bonds at 523; 10 lin several
parcels) at 530534; at 53I; and IL
| at $50.
City treasury notes were inactive, and
rates were rather weaker, but without any
| quotable decline. $1,000 changed hands at
! 36g % cent discount; $1,000 at 81; $1,000 at
| 37l; $4,000 at 37l; $4,000 at 974; and $1,000 at
IS. The dealers bought the small sums
offered at their counters at 37903S, and
supplied the current demand from taxpay'
ers at 364@37.
There was a moderately fair business
| done in State notes at about yesterdays fig
ures; $1,000 sold at 80 ~ cent discount;
$4,000, $4,000, $4,000, and SIS 900 at 40, and
| Wn ora ranuasted nv the undarsioupd zen.