New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1868-07-02
Monetary and Commercial
MONETARY.
OFFICE OF THE DAILY REPUBLICAN,
WEDNESDAY, EVENING, July l, 1868.

OFFICE OF THE DAILY REPUBLICAN
"WEDNESDAY EVENING. July |, 1868.
In the money market proper there has
been no material variation. the demand
for accommodations is still of very moder
ate character while the supply of capital 10
ample tor the wants of all good borrowers.
On the street notes secured by collateral
| are done at I@1l3 ~ cent ~ month, and
mortgage paper at l0(0l2 " cent " annum
for first class, and l2@l5 for second grade,
The banks discount most of the approved
paper offered by their customers, and lend
readily for short periods on solid COL
laterals.
Gold opened at l39I@1392 against l4o4
at New York;, and after a limited move
ment closed at about the opening rates.
| The sales included $4,000 and 10000 at 1879 ;
$500, $4,000, $500, $4,000, and $40, OOO al
| 1899.
Tue only sale of silver within our notice
is Sl050 in American halfdollars at !354.
We quote the latter at l35@l353; and Mex
| lean dollars l433@l44
The movement in foreign exchange has
been brought to Almost standstill Ow
! lug to the limited business ia cotton the
| offerings continue exceedingly light, ana
| with a moderate demand operations are
mainly confined to a few trihing sums not
| worthy of special notice. We did not learn
of any sales of sterling. ln francs rs, 900
| AL commercial sold at 36S4, and sterling
| may be quoted nominally at l539l53s and
| 1854 for good to AL bill of ladlng and clear
and l543@l55 for bank; and francs at 3 700
1853 for the former, and 3.6593.62t for the
/ latter.
We have no change to report in the mar
| ket for domestic exchange, operations IN
which have been restricted both by the
| small supply offering and the limitedIchar-
acter of the demand, The banks checked on
New York at dot u cent premium, but
mostly at the former and the sales of COM
mercial included $40 600, $4,000, $4,000,
$40, 900, in two equal amounts, and $4,000
NV York sight at par; SIS 900 at lie u
cent premium; $40, 600 at J; $4,000 sight on
81. Louis at discount; and $1,000 sight on
Chicago at the same. We notice also sale
Of $4,000 private bankers sight on New
York at premium.
In bonds % levee State changed hands at
| 524, and at 525, showing no change.
Yesterday, not mentioned in our previous
report, levee State bonds sold at 524.
There was only a moderate degree OF
| animation in the market for city treasury
notes. $1,000 changed hands at 365 v cent
discount, $4,000 at 81, and $4,000 at 373.
| The dealers bought the small sums offered
across their counters at 37b@384 discount,
and supplied the current demand from tax
payers at S6A@374.
| There was rather more doing in State
notes, but with increased offerings rates sui.
| fered marked decline. The sales embraced
| $1,000 At "a y cent discount; $4,000 at So;
! 1880 at $50: SO, 600 at 40, and SSe00 at 404
The Bank of America has declared a divi-
| dend of eight u cent from the earnings oil
the past six months, payable to the share.
| holders on and after the sixth instant, and
| the Southern Bank has also declared divi-
| dend of five dollars q share, free of tax,
payable on the twentieth.