New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-07
Monetary--COmmerGiaI.
MONETARY.
OFFICE OF THE DAILY REPUBLICAN,
MONDAY EERNINa. MAY 8. 1872.

OFFICE OF THE DAILY REPUBLICAN,,
MONDAY EVENING. May 9, 1872. )
We notice that Mr.. B. Saloy has resigned
! the presidency of the Orleans railroad, and
that the vacancy in the board caused by
his resignation has been filed by the cleo
ton of Mr.. Emile Garnet. Mr.. Il. H.
Schmidt, who has for some time been a
member of the board, has been unanimously
elected president. The election of the Com
mercial Insurance Company will be found
in another column.
The money market is without any ma
terial variation. We quote as street rates
0I0 p cent p annum for Rl paper with
frstclass cOllaUerals, and 70 a for second
grade; l00l2 for AL business notes with
out cOllaterals, and Pa for. second
grade. The ruling rates for mortgage
paper are 900 p cent u annUm for al %,
! and -0I2 for second class.
After some small sales at 1928, gold fair
" opened at the advanced rates of ll3l8 a
1885 against 1884 at New York;, and
closed at ll30 1888 against 1875 at New
York;. The movement was quite active,
but at a less improvement than in Wall
street, $1,000 sold at 1928; $1,000, $1,000,
$4,000, $500, $4,000, $1,000, $4,000 and $4,000
at lI3; $4,000. 100000 and $780, 600 at lI3ls:
$1,000, $4,000, $4,000, $1,000 and $4,000 at
1874; $4,000 at lI3l4 0I13a8, and $4,000 at
II3$8.
In silver the only sale reported is $500
in American half dollars at 1922. We
quote these at l0S12 a 1922, and Mexican
dollars nominal at 412 a p cent premium
in gold.
Foreign exchange showed a further adj
vance of Z a % T. cent, in keeping with the
improvement in the gold market. The bust
ness, however, was very light, the reported
sales of sterling amounting to only tl3,OOO,
including $4,000 bill Of lading at l23I2 $500
Il. -. L. Il l. 4 L.
at 1925, El5OO clear at 1898, El1OO same at
1875, and elO0O and $4,000 at l24. We note
a sale of 100000 commercial francs at
459a4.
We now quote sterling at 1884 q l24 for
good to Al bill OF ladiug and clear. and
I24l2 0l2l34 for bank.
Domestic exchange was a shade SITTER
but not quotably higher. The counter rate
was unchanged, the banks still supplying
customers with New York sight for remit
lance at IS T. cent premium. In a round
way, $4,000 commercial New York sight
$4,000 private bankers and $4,000 bank
changed hands at 3-l6 p cent premium
$4,000, 600, $25, 900 and $4,000 bank
at 7-32; 100000 bank at Il, and $4,000
thirty days sight on New York at q dis
count.
A bank gold check on New York for $4,000
sold at g p cent premium.
Very little was done in the stock market.
A few shares of Bank of America were re
ported at the price paid on Saturday, and
we noticed a further slight decline in Ordi-
nary Levee. but these constituted the only
noticeable features. The reported sales are
30 shares Bank of America at $3.50; 10 Fac
tors and Traders Insurance Company at
1913 IS; 10 and 200 ordinary Levee at
81 6212, and 200 preferred do ($4 paid) at s..
With regard to the published list of bids
and offers of the board of brokers we deem
it necessary to mention that while the
figures are official, and furnished by the
secretary OF the board, they can not at all
times be regarded as reliable indications Of
the real value of securities, prices being
sometimes SO per share above what the
stock could be bought for in the open mar
ket, and on the other hand, bids made as
much under the ruling rates.
There was no apparent movement in the
bond market.
On Saturday not included in our pre-
viOus report, $4,000 city appropriation Ger
tifcates brought II, and to-day $1,000 sold
at 76l2 and $1,000 at IS.
We heard Of nothing doing in State war
rants, quotations for which are nominal