New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-17
Monetary and Commercial
MONETARH.

OFFIOE OF THE DAILY REPUBLICAN,,
THURSDAY EVENING. July 49, lSoS'
The money market proper continues in
the same condition as noticed for some days
past, the supply of available capital being
ample for the discount Of all strictly AL
paper, the most OF which is taken by the
banks, leaving but little for negotiation
outside. Nothing can be done in country
paper, lenders refusing to part with their
funds unless for good city names on which
they can rely for prompt payment at ma
turity. The street rates for strictly AL notes
secured by satisfactory collaterals are $cent
v month, occasional transactions, however,
being made at 1902 % cent y annum.
Mortgage paper rules at l0@l1 % cent "
annum for irstclass, and l2@l5 for second
grade. The banks continue to discount
most of the approved paper offered by their
customers, and are free lenders for short pc
RODS on solid collaterals.
Gold opened at 14l40l4ls against 1424 at
New York, and closed under the influence
of an advance reported in Wall street, At
l4l4@l42. The sales include $1,000 at 1921
SIC, 900 (Sl0, 900 and SIC, 000), at 14l5, $4,000
and $4,000 at 141l, and $4,000 at l42. In sill
yer we nstice sales of $500 American half
dollars at 1864, and $4,000 at 1871.
The latter may be regarded as rather AN
outside figure, as sales could hardly have
been effected toward the close at better
| budu IOUls we QuOlH l5ONUlODG lOI huCAl-
can half dollars, and l460l46A for Mexican
| dollars.
The offerings of domestic exchange con-
tinue very light, and rates, under the lnfu
| enCe of the advance of gold at New York,
have undergone a still further improve
ment. The sales of sterling include f3O0C
| private bankers at 1861, and $1,000 bank al
| 1919. In france Is 900 of the former sold al
| 800 and LOG, 600 of the latter at the same
Sterling may now be quoted at 1850
l56 for good to AL, and 157@l574 fol
bank, and francs 365@362k for AL com
mercial, and 36003. 574 for bank.
Domestic exchange was quiet without any
material variation in rates. The bank:
checked on New York at ! - cent premium
ana the sales Of commercial! include 5000
| New York sight at par; SIS 600 (S5000 anC
$l0,000) at ! u cent premium; and SIS 00(
one days sight at par. There were salei
also of $30, 900 ($5000 and SIS, 000) private
bankers sight on New York at 1 D cent pre-
MUM.
Nothing was reported to us in stocks
Levee State bonds were cons derably
unsettled, owing to the action of the Legis
lature regarding the transfer of the money
of the Levee Fund to the general fund, foI
the purpose of defraying the expenses 0
the General Assembly. This, it is anticipa
ted, will interfere with the payment of The
interest on the bonds, and hence rates have
suffered marked decline. There were
sales during the early part of the day o
IS bonds at 545 @54l, but subsequently II
changed hands at 5l5 and IL at 81. Yester
day, not mentioned in our previous report
S14OO United States 1905 of July sold at I.
premium.
There was fair degree of animation il
the market for city treasury notes, but q
figures showing falling off from the rate
current yesterday. The transactions in
cluded $1,000 and $4,000 at SO q cent dis
count; $1,000, $4,000, and $4,000 at 1863
500 in two equal sums at 36}; $40, 900 a
S6b; $4,000 and $40, 900 at 81; and $4,000 stl37 !
The dealers bought the small sums Offered
across their counters at 37G3S discount, ant
supplied the current demand from taxpay,
ers at 35@37.
There was more doing in State notes, anC
we notice sales of $4,000 at 404 discount
aad S45, 900 at Al. A lot of $40, 000 con.
tracted for thirty days since, was delivered
| to day at 80,