New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-07-07
Monetary Commercial
MONETARY.
OFFICE OF THE DAILY REPUBLICAN,
"WEDNESDAY EVENING, July 6, 1870.

WEDNESDAY EVENING, July 6, 1870.
We have still to report good demand
for accommodations, but no marked change
in the rates for Al and first class paper. The
offerings of second grade are more plentiful
and rs q larger amount is absorbed in better
descriptions, borrowers on anything but
approved paper are forced to pay higher.
Mortgage paper is in request, and eXcep-
tiOnal negotiations are made at extreme
rates on Al, predicated on property situated
in the business portion of the city. At the
banks the offerings of factors paper given
for plantation supplies are steadily increas-
ing, and we hear of some good paper of this
description offering on the streets at less
favorable rates than the regular quotations.
We quote 100 II per cent per annuln for Al
notes, secured by unquestionable cOllaterals,
and IL 012 for first class business paper,
without cOllaterals, and 91l2 per cent per
month for second grade, and Sl2 n III per
cent per annum for AL mortgage paper, and
IL q ID for second class.
The Mechanics and Traders Bank de-
clared dividend to-day of four per cent
from the profits of the past six months, pay
able on and after the twentieth instant.
Gold opened at 110a4 oil against
l1lA at New York; and closed at Ill Is
Ills against 1lla4). The disparity be-
tween this market and Wall street at the
close is accounted for by the distrrIst of the
advance being maintained. The sales i'll
cluded $4,000 Is, 600 and $50, 900 at l107s ::
$3.50, $1,000, and $4,000 at Ill; $4,000 at
Ill Ills, and $4,000 at His. We heard
Of no transactions in silver. 1t IS stu quoted
at l0S d 1887 for American half dollars. and
3a-per cent premium in gold for Mexican
dollars.
Foreign exchange varied in agreement
with the course of gold at New York.
opening easier, but closing at "a VI cent
advance The sales of sterling embraced
f2O, 1000, of which fl500 bill of lading at
1905; $4,000 bill of lading and $4,000 clear
a. III, $4,000 AL clear at 12lls, $4,000 at
I2lA, f250O bank at 1221s, and fl500 com
mercial at 100 gold.
In francs, the transactions reported are :
$50, 900 commercial, viz: $4,000 at AS and
100000 at 4.750471A. Sterling may be
quoted at 12l 0l2 ~ for good to AL bill of
ladin4u and clear, and -9122A for bank;
and francs 4.72la 04.7O for the former, and
4.67l2 a 465 for the latter.
Domestic exchange showed less weak
ness, but still there was hardly any quotable
during most of the day at par Is Y cent
discount, for small sums, but were all ask
ing par at the close, and the sales included
$1,000, $4,000 $4,000, $4,000, $4,000 and
S35, 900 commercial sight on New York and
$4,000 private bankers at a t. cent
discount; $4,000 and $4,000 bank at ls,
and $4,000 thirty. days sight at l.. Yester-
day and to-day 100000 private bankers
gold checks sold at ls y cent premium, and
to-day the same figure was refused for
100000 more.
In stocks 20 shares Crescent City Slaugh-
terhouse were reported at 800, 100 ditto
yesterday, delivered today at 500 %; 800
Ship Island Canal at 92l2c, and 500 at &c.
Ship Island Canal was weak at the close at
9219.
Nothing reported in bonds.
Five thousand dollars new State war
rants changed hands at S4a4, and $500 at
IS. Dealers bought State at ass for new,
and -095 for old, and Metropolitan Po-
lice at 98l9 d99, and sold the former at
at Sc for new, and Sc for old. and the latter
at SO q 991s.
Nothing reported in city treasury notes.
Dearlers rates for small sums were Is q ID
discount, buying, and l0@l2 selling.