New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-05-30
Monetary and Commercial.
MONETARY

OFFICE OF THE DAILY REPUBLICAN,
FRIDAY EVENING, May %, 1868. !
The commercial week closes this evening
upon a very quiet market. The demand for
discounts from the general run of borrowers
Is IN excess OF the available capital and for
anything excepting Al or first class paper
the money market continues stringent. The
latter, however, can be readily negotiated at
our quotations. Second grade Is neglected,
and planters paper can scarcely be done at
all, lenders refusing to part with their
means fer any other than good city names
on which they can rely for prompt payment
at maturity. On the street AL Commercial
notes, wen guaranteed, may be negotiated
at l0gl4 u cent per month, and second class
at l{@lB, and mortgage notes at 110l2 ~
cent per annum for Al, and I30I5 for sec
ond grades. The banks continue to dis
count most Of the approved business paper
odered by their customers, and are free
lenders for short periods on satisfactory
Gold opened at 1894 9l39i against 1891 at
New York;, and after sales as low as 1891
closed at l39fglS9l. The market was very
dun with but little demand either on
speculation or for the customhouse. The
sales include $500 at 1891; SIS coo at 1893;
$1,000, $500, $4,000, and 10000 at 1891, and
5000 at 1899. Nothing was reported in
silver, excepting 400 Mexican dollars az
14Sl We now quote 1356Is5t and 1859 for
American haltdollars, and 14219143 for
Mexican dollars.
Inc rates Tor foreign exchange nave
reeeded owing TO the decline in gold The
offerings were light and the demand rather
moderate. The only sales 81 sterling within
our notice were $1,000 clear at 1924 and a
small amount Of ship bills 1T figures below
our inside quotations. In francs 10000
bank sold at 365, and Il, 900 at 1854. We
quote sterling at 1923 @l53 ard 1881 for
good to al bill of ladinp and clear and 15qa.
Gl544 and l64 for bank, and francs at
S.7l&9S 6ss for the former, and ;, 663@3.6s
for the latter. : - {
The market for domestic exchange con.
ttnued very dull and rates were lower. The
banks checked on New York at 1G11 10 cent
premium, but principally at the latter. The
offerings OF commercial were moderate, the
sales including several small sums OF New
YORK sight at par to- ~ cent premium;
$4,000 at par; $40, 900 at premium; $50.
goo At DIG; and $1,000 thirty days. sight az
discount. We notice also sole Of $4,000
oank sight at -l6 premium. "a
hethtng Was reported ii stocks. There
was some Inquiry Tor levee bonds but we
Aeafu Of no trAnsacttons. The last sale re-
psollsea was a. foA; they are now quoted at
4o50Al. City bonds are neglected. and are
quotsd at 80 for the old consoIidated andlY4
Ior me news and G7A96s for the railroad
Issues. The last sales Of JagksOn Railroad
nrst mortgage bonds reported were Al "
LheY are quoted at 75G76, and Ouelousas
nzssinortgage at 40140l.
,- me market foFl city treasury notes was
anASS.Ave. AAAie q &7290 was made al yT1
Ahu W. heard of some other aums NJ al
y cent aihcount, The dealers bought the
Snail suma offered at their counters Al
5o@l4us ana @anplled the demand from ta7-
49,, -. ~ oi~fi Nothing transpired In
.ff.faar 49,.