New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-12
Monetary--Conamercial.
MONETARY.
oFFICB OF THE DAILY REPUBLICAN, I
rrHrRanaY RvxHfzaa MAY I'LL I'LL

| oFF1CB OF THE DAILY REPUBLICAN, I
| THURSDAY EvRsiNs. May III ISL.
The money market proper is without any
| material variation for commercial paper
and notes secured by collaterals, but we
notice an easing off in the rates for Al
mortgages, which are still mere in request.
Some $4,000 first class latter at twelve
months was done to-day at 3 discount of Sls
per cent. We quote at -@8 per cent per
annum for AL notes with unquestionable
collaterals, SO 10 for good dG 3 @ 10 for short
AL business paper without eollaterais; 120
l8 for good and second grade do, and 10 d
IL for AL long do. Mortgage notes rule at
90 for al, and 10 al2 for second class.
The scarcity of cash gold and the refusal
of the government to sell caused a very
stiff market, which at one time touched y
above New York, opening at lll4 oil h
against lllA at New York;, and after
selling as high as lllAs, closing at III y
0llll2 against Ia at New YoriE). The
sales included $3OO0 $1,000 and $4,000 at
1llA; $4,000 deliverable to-morrow) at the
same; $4,000 at Ills; $4,000, s5Go0, $4,000
and $4,000 at 1lll4; and $4,000, $1,000 and
$4,000 at Illss.
In silver $1,000 in American halfdollars
sold at I0S1e. We still quote l07 q q 1882
for American halves, and 21s 93 3 cent
premium in gold for Mexican dollars
The offerings of foreign exchange were
moderate, and rates ruled shade sitter.
The business in sterling embraced E42.0OO,
of which $4,000 bill of lading at 12la@; $4,000,
f25O0 $4,000 and $4,000 clear and e500G and
e7e00 bill of lading at l22; flO00 bill of
lading and S5000 clear at 1913; $4,000 bank,
seventy five days date on Bordeaux, paya-
bic in Londe8i. at the same, and $4,000 Al
clear at 12218 a l22A. Sterling may be
quoted at 1914. a I22A for good to Al bill of
ladiag and clear, and 1923 for bank.
We have still to report a steady market
for domestic exchange. The banks con-
tinued to supply remitters with New York
sight at as y cent premium, and the sales
inclasied $1,000 private bankers and $4,000
and $4,000 commercial New York sight
at "a premium; $4,000 at 81; $4,000 and
$4,000 private bankers and $4,000 bank
at SIG, $4,000 st. Louis sight at par and
$4,000 on Philadelphia at Is premium.
Nothing of any moment TRANSFERRED in
gold checks on New York. Some of the
banks drew for remittance at a per cent
premium.
The stock market was even duller than
yesterday. There was some inquiry fer
Bank of New Orleans at Sal IS, but sellers
generally asked Sf2; and there were sellers
Of Sanitary and Fertilizing Company at
S24 IS, but no buyers. Last evening not
reported, &c shares New Orleans Gas Com
pany sold at Sl54 so; 20 Canal Bank at
Sal %, and so Crescent City Siaughterhouse
at S34 so; and to-day 200 latter at S34 rs, a
slight improvement. Early in the week a
small lot OF Germania National Bank
brought the advanced rate of $l55 so; it is
now held at $l56.
A small amount of State warrants were |
reported at 5lAc, and $1,000 on private !
TERMS and $4,000 new Metropolitan Police |
1T 98aac. Dealers paid 491e a 81 for medium |
and large, and SO 660 for small; and asked |
50l7 q 81 for the former and 50 a 81 for the |
after. metropolitan Police. new, are quoted |
1t gS q 9SAc.