New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-05-18
Monetary--C0mmercial.
MONETARY.
OFFICE OF THE DAILY REPUBLICAN,
"WEDNESDAY EVENING. May II. l5il. )

| OFFICE OF THE DAILY REPUBLICAN,,
| "WEDNESDAY EVENING. May IL. lsil
The money market continued to work
| easv, though some Of the banks reported a
moderately fair demand for accommOda-
tons on short paper. All the approved notes
offered were readily taken. On the street
there was no apparent change. We quote
| at as per cent per annum for AL notes
with unquestionable collaterals, SOLO for
| good do; So 10 for short AL business paper
| without colaterals; 120lS for good and
| second grade do, and 10 a IL for Al long do.
Mortgage notes rule at So for Al, and 10
| a II for second class.
Gold opened at llla4 a ll2A against llla4
| at New York;, and closed at liz 0ll2A
against 1ll7s.) The sales included $4,000
at 1928; $1,000 and $4,000 at Ill Is; $4,000 and
$4,000 at 112; $4,000 at 1l2l Is; and $500 and
$4,000 and LIKE. The government sold
$4,000 at ll2.
The United States Treasurer at Washing
ton authorized the Assistant Treasurer in
this city to sell 100000 gold per week, in
such manner as the latter might deem best
for the interest Of the government; and, in
no case to undersell New York rates, but en-
deavor to get Ac over in order to cover
transportation from one sub-treasury to an
other, in accordance with the act of Con
gress granting this privilege: The Assistant
Treasurer here, IN placing Sl00,OOO on the
market has, accordingly, followed instruc
tons and done the best he could with this
small amount to meet the demand, offering
it at a reasonable price, as is evident from
the 500, 600 this week being all taken within
the first three days. Although not large,
the 100000 offered, it is hoped, will relieve
the pressure for cash gold, which is the de-
sign of the Assistant Treasurer who, to
guard against any misapprehensions. re-
quests us to say that his offerings are open
dc liz o,H
any class of operators. Thus far the pur
chases have been mostly for importers to
paw duties at the Customhouse.
In silver $500 in American half dollars
sold at 100. We quote 1881 l09 for Ameri-
can halves, and q cent premium in
gold for Mexican dollars.
A small business was done in foreign eX-
change, but rates showed a further improve
ment of Is a 4 T. cent, owing to the addi-
tional advance in gold. Operations in ster-
ling embraced f25,500, of which $4,000 bill
of lading at l225s: $4,000 clear and $4,000
bill of lading at 122A; SS000 AL bill of lad
ing and clear at 1928 a l23; $4,000 AL clear
at 1913, and t2500 at 1231s. No sale of
francs came within our notice. Sterling
may now be quoted at l2234 % 1875 for
good to Al bill of lading and clear, and
1888 for bank.
Domestic exchange was quiet but steady.
The banks supplied remitters at IS p cent
premium for sight checks on New York,
and transactions included $4,000, $4,000,
$4,000 and 10000 New York commercial
sight, and $4,000 private bankers at a T.
cent premium; $4,000 private bankers at
S-32; $4,000 bank at 5-l6, and $ll 900 on
Boston at Is.
Some Of tie banks dreS gold checks for
remittance at Il T. cent preNIum. NO
round sales were reported.
The most noticeable feature in the stock
market was an unfavorable turn in Canal
Bank, which dropped 81 al 80 T. share.
At one time some excitement was created
by rumors of considerable lots having been
thrown upon the market and sold at a
marked decline, but as they could not be
authenticated or traced to a reliable source
they were regarded as unfounded. 1t was
also said that the stock had been offered at
$50 30, but this was supposed to be a ruse
to depress the price. and several parties
came forward and bid $40, without finding
sellers. SlaughterhOuse stock was decidedly
weaker sinking as low as S33, but closing
at about S33 30. The reported sales in
cluded 30 shares Canal Bank yesterday. not
reported, at I'll IS. and - do at SI2; 20 do
today at $40 80; 30 do at : 10 IS, 100 do at
81 50; $50 Land, Loan and Savings Asso-
citation at 50 q C0c; $50 do at 60c; - full paid
Calcasieu Sulphur Mine at $35; 50 Crescent
City Slaughterhouse at S33 80, and 100 do |
at S33 IS.
The only sale Of bonds reported is $4,000 |
jackson railroad first mortgage at SSl4.
Dealers reported buying rates for State
warrants 10 a 30 for large and 81 a 60 for
small. and selling at 80 a ii for the former,
and 60 G6i for the latter. Metropolitan
Police, new, are quoted at 9S a go
Nothing TRANSFERRED in city notes.