New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1871-09-13
Monetary--C0mmercial.
MONETARY.
OFFICE OF THE DAILY REPUBLICAN,
Trusn Rxr,u,,ao Confonnloe ID 1871

MIME AMI
! OFFICE OF THE DAILY REPuBLlcAN, /,
l TUESDAY EVENING, September II. 1871.
The money market is Tightening. At some
of the banks the demands for accommOda
tons has been quite active. and a larger
absorbed in making preparations for the II
coming business season. On the street we
notice more good paper offering, some OF
which could have been done at bank a few
weeks since. We quote the following as
street rates: 809 per cent per aunum foI
first class notes with approved cOllaterals,
aud 10 q IL for good and second grade; 9 q 10
AL short paper without collaterals, and
ii Is for second grade. Mortgage paper
still rules at 90 per cent per annum tor
AL, and l00 - for good and second class
Gold opened at 1893 q 1885 against ia
at New York;, and, closed at about the
opening rates in both markets. The sales
included $1,000 and $4,000 at 1874. $1,000.
$1,000 and $4,000 at 1888: $4,000 and $500
at 1881; $4,000, $4,000, $4,000 and $4,000 at
1885, and $4,000 at 1888. Late last evening
| $4,000 were sold in New York, for account
| Of parties here, at Has.
American silver half dollars are scarce
and in request at materially higher rates
than have ruled for some time past. One
thousand dollars sold at JO9 Dealers
quote them at 1913 q 100. There are few or
no Mexican dollars here. They are quoted
at II ola " cent premium in gold.
Foreign exchange weakened under the
decline in gold, losing most Of the advance
were small, summing up barely $1,000, OF
which $500 and f7O0 bill of lading. at
l2212, $4,000 clear at 1929, and e25O0 bank
at lO9 gold. We quote sterling at 1929 a
1925 for good to Al bill of lading aud
clear, and l23ls a l23as for bank.
Domestic exchange was very quiet. The
offerings of commercial. and bank in round
amounts, were meagre. The banks sup
piled moderate remittance demand for
New York sight at % per cent premium, and
the sales included $4,000 commercial and
private bankers sight on New York IL, Il
premium, and 900 bank at the same.
A limited remittance business is dong in
New York gold checks at IS y cent pre-
mium bat the banks are unwilling to draw
to any extent even at that rate. preierling.
with the present margin between this and
New York. to sell their gold in the latter /,
market.
stock market, the principal bnsin - being |
still confined to ''fancies.' Canal Bank |
was offered for sale at the rcor.aea rae of |
SllO, and no buyers; 50 shares Pneumatic |
Company sold al So 10; 80 and
100 do at 81 s. "; 80 do at s.; 700 do at
81 l2le; 200 Louisiana Levee at s. Is; -
at same; 100. 100 and 100 do at Sc g. y, and
LOO, 100 and 100 do. resales. at s.. We
heard of a sale Of 500 Pneumatic. delivera-
bic on Thursday, at 81 %, which is con
'idered very high rate.
In bonds $500 city ten per cents, new.
we're reported at gals; 500 Go al 9ah., and
500 at 92l2
City appropriation certificates were
'ftered as low as 81, without selling
Yesterday. not reported, $1,000 large State
sold at 53l4. Dealers repor,
'uying rates tor State warrants a. - a %
Or large, and % 0Gl a for small and sell
ng at "a a % for the former and % 62l2
Or the latter
City Treasury notes are entirely nominal,