New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-08-19
Monetary--Commercial.
MONETARY.
OFFICE OF THE DAILY REPUBLICAN,
THuRsDAY EvRNING, August IL, 1871.

OFFICE OF THE DAILY REPUBLICAN,
THURSDAY EvKxIsa, August l8, 1870.
The money market was without any new
feature to-day. The demand for discounts
at the banks is strong, and the offerings OF
business paper upon the streets nave not
decreased. We still quote AL paper, with IN q.
questionable collaterals, at II a II " cent =
annum: do without collaterals, IA q ia and
2 y cent y month second class "a as
cent y month. Mortgage paper IS IN re-
quest ut 10 10 and 10 U cent per annum.
Gold opened at 1l6as 0ll6a4 against i6ai
at New York;, and, after touching IVA,
closed firm at Il67s q III ls against llo%);
There was more demand for cash gold, and
with less offering rates ruled proportionably
higher than at New York. The bulk of the
transactions were as follows: $4,000 at 1l612;
$4,000. $4,000, $4,000, $4,000, $1,000 and $4,000
at ll6as; $4,000 at ll634; $4,000 and $l0'-
600 at 1863; $1,000, $1,000, $4,000, $4,000 and
$50. 900 at liz; $4,000 at ll7ls, and Sl4 900
at 1l7A The only transaction reported III
silver is $1,000 in American half dollars at
Il2 We quote III a ll2 for American half
dollars, and y cent premium (nominal)
for Mexican dollars.
We noticed more movement in foreign
exchange, the sales of which included
ships bill for $500 at l27; $500 and $1,000
AL clear at l2712; fl2O0 bank at 13l, and
$500 and fI000 sight at 1872. There is
little doing, on which to base quotations,
but on actual sales and the gold rate ster-
ling may be put at l27 a l2Sle for good to
Al bill of lading and clear, and l:9le a III
for bank. The banks show very little dis
position to take even Al bills, and are also
reluctant to draw.
We noticed more animation i'll domestic
exchange but on the whole the business
was only moderate. The bank rate for sight
drafts on New York still continues IS = cent
premium, round amounts, however, bringing
1872 and l-l6 less when offered outside. The
sales of commercial included Sll 900 New
York sight lin small amounts) at Il pre-
MUM, $4,000 at 3-l6, $4,000 equal to private
bankers) and $4,000, 100000 and $4,000 at
Il, $4,000 bank check sold at 9-2 and
$4,000 at SIG. Some ten days sight was
offered for sale during the day at s. 2 cent
discount, but we did not learn of its having
been taken.
The stock market appears to be without
any movement. There is no speculative
feeling, and, with the exception of an occa-
sional forced SALE we hear of nothing dong
We heard of a sale of Crescent City Slaugh-
terhouse (made yesterday at Sl6 -. Some
authorities quote it at SIG 50 all.
Some little is doing in city securities, but
hardly sufficient to deserve notice. SlOoO
city certificates OF Indebtedness Bank of
New Orleans) sold at "a. Dealers are
buying these in small amounts at 81 a 3d.
and city seven-t thirty certificates at 72074
and selling the former at So a 50 and the
latter at $50. We hear OF IS having
been offered for $1,000 or $4,000 seven
thirties.
$500 Carrollton Metropolitan Police
warrants were reported at 81. No sales of
State warrants came within our notice, but
we heard of an old warrant for SD 900 hav-
ing been offered early in the day at 80 with
out selling. Dealers rates for new were 90
40 buying, and 70072 selling, and Metro.
pOlitan Police New Orleans issuet 93l2 a "a
buying, and 94l2 as selling.
The offerings Of city treasury notes were
confined principally to occasional small lots
to dealers, who quote 20 T. cent discount
buying and IL a Is selling.