New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-15
Monetary and Commercial
MONETARY.
OFFICE OF THE DAILY REPUBLICAN, !
TIIEanAY EYuNIlIa. InlY Il lafa. 4

OFFICE OF THE DAILY REPUBLICAN,
TUESDAY EVENING, July IA, 1863 )
The money market proper exhibits but
little variation. There is still an ample
supply of capital TO discount all the strictly
AL paper offered but as most of this de-
scription is passed to the banks, the offer
ings of 1t Outside are limited. Street rates
may be quoted as ruling at 1 y cent v
month for Al notes secured by satisfactory
collaterals, and 1t@l4 for second-class; but
the former are occasionally done at l001l
. cent y annum. Mortgage paper is quoted
at l0@1l " cent % annum for frst-class'
and 12@15 for second grade. Nothing can
be done in country paper, lenders requiring
city names on which they can rely tor
punctual payment at maturity. The banks
discount most of the approved business
paper offered by their customers, and are
| free lenders on solid collaterals.
Gold opened at l44@l4l5 ], an advance OF
| &c az dollar on the closing figures yesterday
| (sgsinst 1921 at New York; and under the
| subsequent falling off in that market, closed
| at I40bMI4It. The sales included $1,000,
! $1,000, $1,000, and $4,000 at 141; $1,000 at l4lt;
$1,000 and $4,000 at 14l4; and $1,000 at l4ls'
l There were sales in New York on New Or-
leans account at l42t. The only sales OF
silver reported were $4,000 in American half
| dollars at 1877, and in addition to the amount
noted in our last report $4,000 yesterday at
| 1861. American half-dollars are quoted at
l3540lJ6, and Mexican dsllars at l450l454
in currency and ID cent premium in gold.
There was but little movement in foreign
| exchange. Early in the morning drawers
| were more stringent in their pretensions IN
| consequence OF the advance in the new
York gold market, but we heard OF no sales
of sterling of any moment. f5OO BANK
sold at the outside rate of 157. In francs
we noticed sales of 10000 bank at 3634,
1000 private bankers at 1929, and some
bank at 800. We now quote sterling at
I540I543 and 1856 for good to AL, and 1861 a
1864 for bank: and francs at 3.673D365 for
the former and 3.624@360 for the latter.
Domestic exchange continued quiet bu'
in view of the very limited extent OF thu
| offerings most of the banks raised their rate
for checks on New York to ! % cent pre-
MUM, one of them still drawing at !, a
which it met only limited demand. Their
is very little required now for remittance
except to cover bank collections at othe
points. The sales of commercial included
Sl2, 900, Sl4, 600, and Sl4 600 New York sigh
at par; $4,000, $40, 600, and $40, 900 at pre-
MUM, and $l4, 900 (private bankers) at l6
The only sale OF stocks reported wa
thirtynine shares New Orleans City rail-
road at Sl62, showing no change. Tw
Leveel State bonds sold at 543, and two q
54s. We also heard Of sales as high as 55s
City treasury notes sold to fair exten
at advanced rates, the business including
SIS, 0G0 at 81 per cent discount; $1,000 at ga
$4,000 at 37l; $35, OO0 (tOOO, 1000, 1000, 1000
1000, 10000, and II, O0O) at So; $4,000 (l00O
1000, 3O0O and 10, 0OO) at $50; $93, 500 (l500
1000, 10, O00 and 49, 000) at 80; SIS, 900 Us, 00
and 100000 at 49, and $500 at Ale. Tn
market closed at 37@95c. The ruling rate
yesterday were 4l@4l4. We also notice.
sales of $4,000 at thirty days at 37a; and $500
same time at 38A. Dealers paid 1904
in State notes. $2OO0lsold at Al discount.
37039c. We heard of very little movement
and supplied the demand from taxpayers a
for the small sums offered at their counters