New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-05-22
Monetary and Commercial


OFFICE OF THE DAILY REPUBLICAN.
4N THURSDAY EVENING. May Il. Asos.
For strictly Al paper secured by satistao-
tory collaterals or mortgages the nlOuSy
market proper continues quite easy; AZ
fact the supply of capital for ston ,ith
gard to the general run Of the onerlngs ior
discount there is no abatement OF the Still sSria'
e,encv raDorteS go - s.s 4aesl- -olQkt
Sstge notes for example, on productive
pr0perty in the business part OF tne cly
are wanted at HOLE v cent !, annuL.i, Ous
those on dwellings or lots in other parts can
hardly he negotiated at all, or If placed are
EFFECTED At ISnl5 % cent. The former are
even done at 10 when they offer SATISFACTORY
inyestments for trust funds, in which the
lenders look more to safety than to profit.
Hence Hmortgage notes may be quoted
at lO0l2 and 10 % cent, with 10 as excep-
tional and IL as the ruling rate. The street
month for Al, and 140la for second rate,
but there is hardly anything doing in the
latter, and the supply of the former, az
least such as will stand the scrutiny OF lend
ere, is too limited to allow OF much move
ment The banks continue to dlscount
most of the approved business paper offered
by their customers, and lend TO lalr eAteAs
on satisfactory collaterals. 30,
Gold opened at 14Ql@l40i against 1928
40 iII and rs low AS l4O, closed at l40t@
l4Oa The sales included $1,000 at l4O; SzV Ivy
and $4,000 at l4Ol; $1,000 at l4Os, and Slo,VOy
at l4Os. The only sales OF silver rep01rav1gIu
| were 5000 in American halt-dollars az I5os,
| and 400 Mexican dollars at l435. Inc lot
mer are 1uoted at l35@l36, and the latter
at l4361l431 in currency, and 2@24 u cent
premium in gold.
The supply of foreign exchange was only
moderate, and rates exhibited but little
variation The sales of sterling included
flO 900 Al bill of lading and clear at l55D
1881; $1,000 second-elass az less IMAM OUT .s
INSIDE quotations, and $1,000 bank at lo44.
In francs we noticed sales of $4,000 Al com
mercial at .. $50 and 80, 900 at S.65 Sterling
lis quoted at I52a61534 and 1884 for Al bill OF
| lading and clear, and 15A0l54k tor DanK;
and francs at 9.T0@3. 6T1 for the former, and
3.65@3 629 for the latter.
The offerings of domestic exchange were
moderate, and the demand continued Inn
| tied. The banks checked on New YORK az
the previous rate of J u cent premium, and
the sales of commercial included $4,000
and 1886, 600 New York sight at premium
SIG COO, $40, 900, and SIS, 009 at Sic; $lo,O 600
one DAVIS sight at 4; and $4,000 ten days
at 1 discount We also noticed sales OF
$1,000 Boston sight at I premium; $4,000
private bankers on New York at premium;
S25, 600 and $4,000 bank at the same; and
$50, 600 at SIG.
There was rather more inquiry for favorite
stocks, and some transactions are reported
to have occurred in City Railroad, part1cu-
lars not mentioned. In addition 70 these
500 shares Jackson Railroad sold at "a; 30
Louisiana State Bank at $50 So and IS Bank
of New Orleans at S26 49, also, yesterday,
| not before reported, SIS shares Bank OF New
Orleans at 81. The highest sales previously
reported this week were at S26 Is. There is
some inquiry for consolidated city bonds at
| 75@76, or a fraction higher.
The offerings of city treasury notes were
more liberal, partly, it is understood, from a
considerable amount which had been
pledged as collaterals being placed upon
! the market, and rates suffered further de
cline. The sales included $1,000 at 363 Y
cent discount; $4,000 and $4,000 at 81; So,
1 600, in two equal sums, at 375; $4,000 and
$4,000 at SO; $1,000 at 3s4; and $1,000 at S94.
their counters at 374@39@4O, and supplied
the current demand from taxpayers at &c a
371. State notes are quoted at 49@5O,