New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1869-05-23
Monetary and Commercial

OFFICE OF THE DAILY REPUBLICAN,
SAInRnAY EYENING. MAY " 1854

OFFICE OF THE DAILY REPUBLICAN,
SATURDAY EVENING. May Y, 1868.
The money market proper is quiet and
easy with moderate demand for accommo-
dations and an ample supply of capital
available for the negotiation of all the Al
paper offered. The banks discount most of
| the approved business paper offered by their
customers and are free lenders on call or for
short periods on satisfactory collaterals. The
street rates are 10 d cent f3 annum to ! y
cent y month for Al notes secured by I'M
questionable collaterals; business paper is
ruling at 10 u cent u annum for 6rstclass,
without collaterais, and l0l4 81 cent d
month for good and second class. Mortgage
notes are quoted at 9l@10 " cent y annum
for Al and 10@l2 for good and second
grade.
Gold opened at l4O@l403 against l4l at
New York; and after selling as low as 1893
rallied under the influence Of more favor
able advices from Wall street. and closed
at 1401@140}. The sales included $4,000
and $1,000 ut 1891; $1,000 and $40 600 at l40;
$1,000 and $1,000 at 1404; $1,000, $1,000 and
81 900 at l404; $4,000 aud $40, 600 at l405@
14Oi, and $500 at 14Os. In silver $1,000 in
American half dollars changed hands at 1856.
We quote l350l354 for American half-dol.
lars and u u cent premium in gold for
Mexican dollars.
The movement in foreign exchange was
quite active, but under the influence of
further decline in gold at New York, rates
for sterling and francs ruled still lower
rates Tor the former at the close showing a
falling off of y cent The sales of ster-
ling included $1,000 clear (early) at l51i !;
4620O at 1524@l53l $4,000 at 1873 and $500
E2500 and E3000) at 1928. The business in
francs summed up fully 900, goo, of which
a moderate amount OF commercial at 3.733;
$4,000 Al commercial at 373I; $1,000 and
$50, 900 at 8. 723; 100 900 Al commercial and
INA aia1 md hgT, ut Q = 4,
100000 commercial at 3 III, and Us, 900
1000 and 100000 at 8 70. Sterling may
now be quoted at l523@l534 for bill of ladng
and clear, and l54@1549 for bank; and francs
3.71 403.70 for the former and 36S303.673
for the latter.
The offerings OF domestic exchange were
moderate and rates were a shade hrmer,
although not quotably higher. The banks
check on New York at par for small
sums, and the sales included $4,000 New
York sight (S25,00 private bankers, $50 600
and $4,000 bank at u cent discount,
$4,000 bank at 3,l6 $4,000, S2l GOO and
$4,000 commercial at I, $4,000 at j-lG, and
SIS 500 thirty days sight on New York at z.
In stocks 40 shares Bank OF New Orleans
sold at $40, further advance. We heard
also of sales as high as S42 80, but none of
the particulars were reported. 500 shares
Ship Island Canal sold at 81 S74, Yesterday,
mot previously noticed) 40 shares Good
Intent Tow Boat Company of Louisiana
sold at $50 and So Bank Of New Orleans at
So.
The transactions IN bonds included 10, 900
old Louisiana SKIES at II, and $40, 600 at Y.
We noticed very little inquiry forB City
Treasury notes. The offerings during the
early part of the day showed considerable
increase, and with few or no buyers, the
market gave way about l per cent. We
hesrd Of sales at 254 per cent discount. At
the close, sales could not have been forced
at better than that figure, or even less.
STATEMENT OF COTTON.
stock on hand September l, 1902. 3,O44
Arrived To-Day. :.'s...ss..........s.ss.- tba
Arrived previously. Ssl-sl5049
sOs,O
Cleared to-day. ..;..........,.+.........'6 Eli -
Cleared previously 1850 299-I57 0l0
Stock on hand and shipboard...... 81 ,Os3
To-day's exports embrace 6l94 bales to
Havre, so to Bremen and 467 to New York.