New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-09-16
new ORLEANS REPUBL1clN, FRIDAY, sEPTEMBER l6 1870

seem disposed to renew exchanges without
waiting longer. The strong defensive
position taken by the bank and the city
seems to command, more and more, the
approval Of business and financial men,
of course, with occasional differences OF
opinion. The proceeding of the Council
toward redeeming all Indebtedness
coming or past due, has sustain
ing effect on other obligations than
the ten per cents, for confidence is sus-
tanned that the same vigorous and careful
administration, which restored the value
of the million loan bonds, will be made
similarly felt on every other class Of secur-
ity in due time.
Calculating the exchange at e2!, the
three million bonds will extinguish g.
AIS, 900 of certificates, leaving balance
of floating debt of S191, 7S3 ~ urprovided
for, on which the city promises to pay
accrued interest at the rate Of seven per
cent on the first of December
$1,000 new city seven per cent. bonds
sold at 712; $500 brought 724, and
$4,000 changed hands at 723. These
figures show q marked improvement,
which may be fairly ascribed to the in
creased confidence Of the public toward
the city administration financial man
agement. S27OO seven per cent. fiscal
agency certificates, dated August IS, sold
at S4d $500 Of the same, July and Au-
gust dates, realized IS; $4,000, Of various
dates, went at the last named rate $4,000,
dated August 1s, brought e55, and $1,000,
| dated three days earlier, found a pur-
chaser at S5i. $500 Metropolitan war
rants were disposed Of at "a.
There continues to be an interesting
| movement in Navigation-in interesting be-
cause people generally fail to understand
what it means, and upon what it is based.
The following sales were reported yester-
day: 200 shares on private terms; 10 at
81 %, and 200 at So We heard of 3 IS
having been offered and refused for Valley
| Levee-under what particular halluciIa-
| ton we are not at present advised.
A small parcel of new State Warrants
was sold at "a; $4,000 of the same brought
Is, and the same lot was afterward resold
at 75I.
Ten shares Sanitary and Fertiizing sold
at S23 so. Fifty-three shares Sugar Shed
brought S27; $500 compound interest
notes were disposed of at 81 IS.
| The discontinuance OF the Texas trade,
in consequence of the foolish paper block
ade established by the Galveston quaran-
tine ukase, will have serious effect upon
such business as We now have IL New Or
leans. It is in vain to expect remittances
from Texas while We are denied the priv
lege of sending our goods there, and the
unexpected closing of this supply of money
will tighten the condition OF our market
in way decidedly more perceptible than
| pleasant. Galveston must suffer more
than New Orleans from this stupidity, ard
We say amen to that.
The following list shows what the bro
ker's did last evening at the session OF the
board:
Asked. Bid
Levee Steam Cotton Press......... 20 90
| Crescent City >laugAterhouse
| Company Observation-Disclosures. 1e 90
| New Orleans, Jackson and Great
Northern Railroad. .............. 311s
| New Orleans City Railroad Com
| ........................ leo 20
| St. Charles Street Railroad Com
pauy,...,..........'-..... - 6225
| Ger,nana National Bank 40 90
| Crescent CITY Bank. q 30
| Mechanics, and Traders Bank. g -