New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1870-03-31
NEW YORK

Audfsuce TO Representative Of the
National Banks-Arxumeats Against
the Funding Bill oney Markes Ae-
tive Southera SeeuriiieE-Lon'siana
Ievees-6e, man BaEkers Drawing
Free,y-Two Milton Loaisians Leves
Mt tEivhtY.Nine-Arrivl. OF the Hapi-
dau-The Young Democracy and
TamMany.
NEW YORK, March 50.-Telegrams from
Washington to day state that the Ways and
Means Committee Of the House gave an au-
dience once more to the representatives OF
the national banks and head further argu-
ments against the funding bill. Represen-
tatiyes OF commercial interests OF the hrst
district also gave their objections to the bill
and explained how the agricultural and
commercial interests of their section sut-
fered by the agitation of the bill.
The community generally believe that the
funding bill, in its present shape, VII!
fail of It's effect. This is very marked IN all
directions. The national credit advanced
sharply, and throughout mercantile and
commercial circles there was more cheer
ful feeling than for long time past.
The Harmonis to-day brought 4,8Oo,oOO
francs, This gold was ordered from Europe
a short time since under the impression
| that exchange would decline to q point
which would make the operation protlta.
| BILE one.
1t is stated that all the exchange for these
francs have not been bought, although
some purchases of both exchange and bonds
were made on this account to-day. There
| was some surprise felt because the gold mar
| ket did not respond to the import OF this
| gold. Last year we had an import OF gold
with great flourish, but for every million
dollars of gold imported there was at least
| ten millions sold short in the gold room.
| The sequel last year showed that the gold
room made q mistake, and in the end was
richer by experience but poorer in cash.
| There is no disposition in the gold room to
repeat the experience of last year, and hence
this import OF gold failed to intaence the
market to-day.
| Ata meeting of the directors of the s. s.
| r. r. Company to-day, the Auditors report
| was presented showing the earnings OF the
| road, after deducting working expenses and
| debt charges TO be over ten per cent on the
| capital stock. The company, therefore
| carries into the new year new surplus o
two per cent. The transfer books OF the
company close Saturday. The money mar-
uuent increase Of business in all depart
| ments. Call loans four to Elk per cent
Foreign exchange quiet, Ss@9a, and 1o9 FOL
| sight.
German bankers were drawing freely to
day. -,
| It was understood to be against two mil
lion Louisiana levee eight per cent bondf
shipped to Europe. and which the firm toos
at about 50 ia currency. The sales OF gold
against this exchange st times during the
day weakened the gold market lutte. GoG
steady; opened at LII, touched Ia, and
closed at IL. Carrying rates 3@5 per cent
Clearance thirty-YJur millions. Govern
ments were strong to the close, when the
highest prices of the day were made. Finsn
lcial institutions were free buyers. There
! ia a large uncovered ehart interest IN the
| market. The Assistant Treasurer bought 6
million at l06 44G1O7.4o, the closing prices
| State bonds were strong; old Tennessee:
SO: new Oh; Louisiana levee sixes II.
new YoRK March 81, Eeening.-ElghtF-
ones ll44; dve-tweuties of 1869, Ill: OF 1864
lC9;; of 1866. l1Od; new, 1883: of 1867 l0s3
nf 1868. IO9}; ten.forties 1854: Louisiana:
IA; new 73&; Ievee siXes n; e,2hts SO; A Il
bans eishts 95; tives 76; Georgia skies 81
sevens 90; South Caroliuas IS; new g..
2! New YeRK, March 3e.-Fhe steamship
RaIidar, from New Orleans, arrived her
| to-day.
The ysung Democracy clsin thirty-fv'
msjority in the Taiumany general council
lt is rnuored thst one os the lsrges
shipping houses in South street, havip.
extensive Western connections, has failed TO
$50 600. The suspension is reported to D
owing to the inability of the firm to fill con
tracts heretofore made for the delivery G
breadstuffs.
The steamship Java has arrived fror
Liverpool She brought tho passengers an
mails Of the steamship 6amana.
A State ccnvention Will soon be held Il