New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-12
Commercial.
MONETARY.
OFFICE OF THB DAILY REPUBLICAN,,
s 4 TN n -. Er--..rrr-r. n 1910


| SATURDAY RvKEIEe. May II, 1872. 5
AT the adjourned meeting of the New Or
leans Clearinghouse Association held FIJI
day evening, Mr.. " N. Maynard was elected
manager. Mr.. Maynard was formerly
general book keeper of the old Bank Of
Louisiana, which position he left to assume
| the management of branch of the Bank Of
| Louisiana in St Francisville.
We learn that the Clearinghouse viii be
! located on Camp street above the State
| National Bank The intention is to open
the doors for business, at the latest, by June
! l. Contracts have been made for the fur
nlture and fixtures, and, if completed in
| time, business will be commenced even be-
fore the date above mentioned.
The applications for discounts at the
banks within the past three days have
| increased materially and as most of these
have been met favOrably, their ability to
extend accommodations has decreased in
proportion. On the street there is more
business paper offering and negotiations at
less than our quotations are difficult while
some transactions have been made at higher
rates. We quote 500 P cent p an
mum for Al notes, accompanied by unques-
tlOnable cOllaterals, and Pals for second
grade; ii u tor Al business paper, with
out collaterals, and Is ais for second grade
Mortgage notes rule at about the same, say
g0l0 q cent y annUm for Al, and a II
for second class
Gold opened at 1888 a lI334, against II4A
at New York, and closed at ll334 OLA, !
against ll4A, the actual closing NI4ls) not |
being received until after business hours. |
The wide margin between this and the New /
York market which existed for nearly a |
week past has invited shipments to New
York, and this, in connection with the fill
ing OF orders for Galveston, has somewhat
depleted the supply of cash gold, causing
nm fp oil
street. We noticed, also, some demand for
the CustOmhOuse. $1,000, $1,000 and $4,000
sold at 1872; $1,000, $1,000 $1,000. $1,000.
$1,000 and $1,000 at 1885 $1,000, $4,000, $4,000,
$4,000, $4,000 and $4,000 at ll338; $1,000, $1,000
and $4,000 at 1873, and $4,000 at 1l334 0II4
The only sale reported in silver is $500 in
American half dollars at l091h We quote
l08l9 a l09l2 for American half dollars, and
AZ 40 y cent premium in gold for Mexican
dollars.
Under a lower gold market, and notwith-
standing slight Improvement in sterling
bills at New York, foreign exchange was
rather softer. The offering were small and
the reported sales of sterling were confined
to tl3,OOO, Including e4500 sold late last
evening" say: GIS00 bill of lading at I24as,
$4,000 and $4,000 clear at 1919, and $4,000
clear and $500, the latter yesterday after
business hours, at l245s.
Nothing appeared to be doing in francs. 6
We now quote sterling at 124l4 0l2415 for
good to Al bill of lading and clear, and -
a l25l2 for bank
Domestic exchange was inactive but firm.
The bank remittance rate for New York !
light was g z cent premium. The only a
reported are $780, 900 CONNER '
,ial New York sight at 3-16 premium, S
'lO,OOO on Boston at Is and $1,000 on Proyi- S
lenee at par.
The stock market showed very little ami >
nation. 300 shares ordinary Levee sold at S
"A 6242; 200 same at 81 IS; 500 preferred
10 tS4 paid at 81 1919; 300 do at 81 25: c
terms Fertilizing Company at sos, aud 2
D New Orleans National Banking Associa- K
ion at S34 %. c
At the auction sale by Messrs. Nash &,
lOdgsOn to-day, 25 shares Peoples Bank
$50 par, full paidl were sold at $63-an B
dvance OF 50 per share on the regular Q
larket price yesterday: 10 Mechanics and Il
raiders Insurance Company 1910 paid at
10, and three certificates of Star Mutual II
Insurance Company scrip for $50, $50 and W
10 at 25c or the dollar.
Our remarks last evening concerning the
w price at which $4 50 paid Levee had
I'D compared with the prices reported for b,
1 paid were not made for the purpose of k
lsting doubt as to whether the sales of
lie former had actually been made, but IN
erely to draw attention to the discrepancy, In
IT which there appeared to be no well de-
ned cause. Had we thought the sales Be
ere bogus, we would not have allowed n
lem to appear in our report.
There was no apparent movement in
lnds.
$1,000 city appropriation certificates were Gc[[
Id at 75l9, and resOld at 76 We have Ia
so a report OF $1,000 at 761R. These are
Oh rates, but are accounted for by the M
ct that they were taken for tax paying, de
I'd the rates probably cover the commits vi
IN to the broker for attending to the pay ba
ent of the taxes. The market is quoted
1919 ais.