New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-05-13
Monetary and Commercial
MON ETARY.


OFFICE OF THE DAILY REPUBLICAN,.
TUESDAY EVENING, May - 1863 ;
There has been rather more demand for
money to-day, but not sufficient to 1mpart
much animation to the market, which con
tinues quiet and rather depressed with the
falling off in the general movement Of trade.
The latter in fact has been quite marked
within few days past. The banks con
tinue to discount most Of the approved
business paper offered by their customers,
and are free lenders on call or for short
periods when secured by satisfactory collat-
erals. The street rates are i@l4 % cent
month for Al paper, and lola fer second
class, but In both cases lenders require the
security Of sound collaterals as well as good
signatures. Mortgage notes are still quoted
at 1l9l2 % cent - annum for Al, ana 1905
and is for second-class, but exceptional
negotiations Of the former are occasionally
Oonsummatea at 10.
Ges4 opened at 1851 III, sgsi1istt iiSSsssi at
New York, and after sales as high as al,
closed At l402014o}. The sales include
S50oo At 1zSa, 5000 and $1,000 ct
1l0i, $4,000 in four lots at 1l0k0
l403, and $1,000 at TAI. In silver we
noticed sales early in the day Of $1,000
in American halfdollars at lS7. Az the
close American halfdollars were quoted at
1854, and Mexican dollars at l431. We
heard Of very little inquiry for the latter
Foreign exchange continued quiet and
varied but little from yesterdays rates.
61200 and $4,000 Al sterling sold at 1853, and
$4,000 bank at lie for gold. The movement
in francs was on limited scale. We now
quote sterling at 15230l53l for good to AL
bill Of lading. and clear, and 154S 1919 for
bank; and francs at 3.7003.6e4 for AL
commercial and 3,66413. 65 for bank.
The offerings of domestic exchange were
limited, but owing to the still higher cOun-
ter demand rates showed no material i'm
proVement. The banks continued to check
on New York at q cent premium, but In
some instances accepted I. The sales Of
commercial include $40, 600 New York sight
at par, s2s 900 al premium, $40, 900 at sic
premium, and about an equal amount at
the same range. At the close bank checks
were quoted at t01s premium, and COM
MeHeial sight on New York at parl03 l6 pre-
MUM We hear Of no operations in time
bills.
Nothing was reported in stocks, the mar
ket for which continues extremely dull
There Is nevertheless a sufficient amount Of
ierlnf % serve as a basis for 3 fair business,
Dnt tlrEe IS little or no inquiry either from
specnia19Ta Of f0r investment, unless at ig-
ufea nei0M tAe views OF holders. Nothing
has been done 4 the board.
The bond market Is equally stagnant
City bonds are quoted at 5s6s8O for the
consolidated, AID e2063 for the railroad
issues; Jackson Ra|lroad frst mortgage al
72t075: Opelousas Railroad first MORTGAGE
sf "a = 70, and state leyee at $500, but
there Is so little doing IN any that these
figures must be regarded 70 great extent
as nominal.
City treasury notes were manifestly
frmer. Some round lots chaneea heads a
3o&05I y cent discount, and $500 Al 3G.
The dealers bought the small sums offered
az thaif counters at 370SS, and supplied the
ezrzent demand from tax payers g 5sll2s
We hesrd Of no sales Of State notes, bu
5000 were offered at the reduced rate Of Y
discount. They are quoted at 45gi6.