New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-09-10
Commercial.
MONETARY.
CzF:CB Gp THE nATLY RRPTBJICAN, /

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HtSDAY EVENING, September g. 1872.
We remarked in our last report that the
offerings at the banks were more liberal,
and that there was some demand for cur
rency to remit to the country, either tor the
payment OF wages or the purchase OF cot
ton, which increased the demand tor DIS
counts. These features are daily becoming
more marked. At the same time most OF
our leading banks show considerable fall
ing off in deposits, compared with last year.
This could hardly have much effect II the
amount had only passed from one bank to
another, and the aggregate Of the whole
showed no dimiuutiOn. The contrary, how
ever. is understood to be the case, there
being in fact very material falling OF from
last year. This is shown also by the amount
of legal tender notes, which has shrunk so
much in volume that most OF the banks are
compelled 10 cOnfine their tavOTs to custom
ers in a corresponding degree. This necessa
Iily has a tightening influence on the mar
keJ, but thus far without creating any
pressure. At. this period Of the season
there is a much larger demand for currency
than formerly to remit to country ner-
chants for. the purchase OF crops. we
have heard Of various projects to increase
our supply Of currency il order to meet
the present demand and vet maintain the
bank reserveg. The business on the street
was moderate We continue to quote first
class paper at 9Ul0 y cent T annum;
AL at 10: less desirable names not second
grade atI1; second grade at y: first class
mortgage 9l4 0l0; good to second grade
30 Ii GI2.
NEW ORLEANS CLEARING HOUSE.
C c5ss ~ 3, !. Bs a ~ I;
September 7.....-........ $924,6lZ 80 1891 %
September 9............... 987G58 81 IA, 6G7 I8
Thus far tbis week....... 81 9l227l g $27oo18 4
Son TINA l4lT 1Epe
Total last Week 5687 I5l y 923Il5 81
Total week before ........ 4164I45 50 1872, 1888 Sc
Gold opened at 1925 0ll27s. against lI3
at New York, and, after an active business,
closed al ll27S Q 1919 ian ADVANCE Of i4tc)
against Il3 in that market. The sales
covered SIO5, 600. embracing $4,000 $4,000
and $500O) at 1929; $26,500 $4,000. $1,000,
$500. $4,000, $5000 $1,000 and S8OU0) at
1929: $4,000 at ll2 1916; $58, 800 t$l500,
$4,000, $500, $500, $4,000 and $32, 0O0l at
1I3, and $4,000 at 1875.
Nothing was reported in silver. The
market is quoted at l08 100 for American
haltdolIars, ard 31R a 6l2 t. cent premium
in gold for Mexican dollars.
The movement in sterling exchange was
light Bank was rather easier, but com
mercial without variation. The sales re-
ported were El500 AL clear at 1903, and
f50OG do at l2l.
No operations were reported in francs.
AL Jh3 close bLbfllDg hiiIS we're iuoltd al
I2012 a I2l for Al clear, and 1915 a 2l Is for
bank, and francs at 4764 04,75 tor private,
and nominal for bank
Domestic exchange was weaker. The
sales amounted to Sl63,OOO, comprjsin"
| $4,000 private bankers. sight on New YORK
at 3s y cent discount; $38,0O0 at 5-l6; $57,-
900 $4,000, $1,000 and 600 private bank
ers and 900 bank at u; $4,000 at 732,
and $4,000 $4,000 and $2O,OO0) at BIG.
The banks checked on. New York at par to
70 premium, and commercial sight was
quoted at 30 a "a discount
In stocks we noticed sales Of shares
Mutual National Bank at Sill; do at
Sill Is; 80 Carrollton Railroad Company at
ia, and 200 United States and European
PropeIHng Company at 81 82l2. There was
also some inquiry for Louisiana Levee' bat
no sales were reported.
Nothing TRANSFERRED in bonds or warrants.
City appropriation certificates were re-
ported ttrlner. The sales included $1,000 at
G3a4; $500 ($l400, $4,000, and $4,000 at g.;
$4,000 at GA, and $1,000 at 6412.