New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-19
Monetary Commercial.
MONETARY.
OFFICE OF THE DAILY REPUBLICAN, I
THURSDAY EVENING, May 10, 1871. s


THURSDAY EVENING. May l8. 1871.
The money market is quiet and steady
with no quOtable change in street rates
which we continue to quote as follows
as per cent per annum for AL notes
with unquestionable collaterals, 8al0 fol-
good do; Sa 10 for short AL business paper
without collaterals; pa l8 for good and
second grade do, and 100 I2 for Al long do
Mortgage notes rule at 60 for AL, and 1C
a IL for second class.
Gold opened at ll2a ll2N against III Il
at New York;, and closed at I1214 ll2ls,
against 1l2ls.) The sales included $1,000
at Il2; $1,000 and $4,000 at l12ls; $1,000. $1,000
and $30, 900 at 1l2A; $4,000 at 1928; $4,000
at 1I2 SIG, and $500 and $4,000 at 112l2.
A correspondent approves of our re-
marks last evening on the course of the
Assistant Treasurer in sales of government
gold, but censures the United States Treas
urer at Washington tor exacting "A T.
cent above New York rates, arguing that
the receipts from customs here largely eX-
coed the disbursements, and if the surplus
were forwarded to New York by express it
would be at charge of y y cent. Our
correspondent is right. The Assistant
Treasurer in this city should have full dis
erection to sell according to his judgment,
even at less than New York rates if justI-
fed by circumstances.
In silver $1,000 in Mexican dollars were
reported at 3A T. cent premium in gold.
We quote 1854 a 100 for American half
dollars, and 3 T. cent premium in gold
for Mexican dollars.
Foreign exchange again advanced in SYM
patty with the continued improvement in
gold, the market closing Il y cent above
our quotations of last evening. The sales of
sterling embraced f32, 200, of which flO00
bill of lading at 1929; $4,000 at l23; fl200
and $4,000 AL clear at l23lS: $4,000 and
$4,000 AL clear and $4,000 AL bill of lading
at 1914; fl0O0 private bankers at 1895;
fl0O0 bank at 1884: 100000 at 1884
Iz37s, and $500 at l10l2 gold. Sterling
may now be quoted at 1913 a 1885 for
good to AL bill of lading and clear, and
124 for bank.
Domestic exchange was Ill better supply,
and the sales were more liberal. though
rates showed no quOtable variation. The
banks supplied remitters with sight drafts
ON New York at Is y cent premium. and
the sales included $4,000, $4,000, $4,000,
$4,000, $25, 900, 5000 and $4,000 New
York commercial sight at "A premium
$4,000 and $4,000 private bankers at 9-32;
$4,000 and $4,000 at SIG; and $4,000 on
Boston, and $4,000 on st. Louis at Is.
The offerings of gold checks on New
York were fair, but we heard of no sales
worthy of mention. Some of the banks
drew for remittance at Is a cent premium.
Operations in stocks included 100 shares
Carrollton railroad at Sll7, 60 do at SLY 10;
100 Peoples Bank at SOS, and 600 Land.
Loan and Savings Association at 60a70c.
We hear of no transactions in Canal Bank.
Nothing transplred in bonds.
Dealers reported buying rates for State
warrants at 49, so for large and 56 50 for
small, and selling at 50 81 for the former
and So 81 for the latter. Metropolitan
police, new, are quoted at % 90.
We hear of nothing doing in city treasury
notes.