New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-06-02
MOnetary--CommerciaI.
MONETARY.
OFFICE OF THB DAILY REPU BLICAN.
SATrpnAv I IR.Q

SATURDAY EVENING. June ], 1872. )
The New Orleans Clearing House Asso
citation commenced its business operations,
agreeably to previous announcement, pre-
cisely at nine o'clock this morning. AS we
anticipated, everything worked smoothly
and satisfactorily. The messengers were
prompt in their attendance, perfectly under.
stood their duties, and were delighted at the
ease, expedition and safety with which they
were enabled to execute their responsible
duties. In nine minutes the whole operation
was accomplished, the messengers retired,
and the manager was left alone to adjust his
balances and draw his checks for liqui-
dations.
CLEARING HOUSE.
june I-Clearings $759 256 96
balances ACKNOWLEDGEMENTS. l4I 349 l3
The money market presents no new fea-
ture. The demand for discounts continues
fair both in bank and on the street In the
former al offerings of approved paper are
are readily accepted, but on the latter
while Al notes secured by unquestiOnable
collaterals are readily negotiated, second
class paper, or paper with cOllaterals of
questionable sOlidity can not be placed with
out difficulty even at outside rates. An
unusually large proportion of the offerings
at the banks consisted Of long paper. The
range Of the discount market may be quoted
Al paper, with or without cOllaterals: ii 0I2
for less desirable names, but hardly to be
classed as second grade; second grade at
the wide range of l20l5; frst-class mort
gage at at 90l0, and secOnd-class do at -
0l5.
Gold opened at 1874 0II31h, against
HAS at New York, and closed at the open
ing rates in both markets, touching during
the day 1885 here, and ll414 at New York
The caIac 1na1udad e2000 IIQL. &T0 mn
at 1888; $4,000 at ll3 ZIG; $4,000 ($l000
$4,000, $4,000, $500, $4,000 and $5OOO) at
1879, and $l3.500 $4,000, $1,000, $500 and
$l0,000) at 1885 The market was quiet
throughout the day, with no speculative
feeling, and only moderate demand tor
the CustOmhOuse.
The sales of silver were confined to small
lots, including one of $500 in American
half-dOllars at 1882. We continue to quote
at 312 051s y cent premium in gold.
The offerings of sterling exchange were
gain limited, and the market quiet at
previous rates. The sales included $4,000
tfl500 and $4,000 bill of lading and e3500
clear at l24, and $1,000 AL clear at l24l9.
The sales of francs included 10000 COM
mercial at 4.6lA.
We heard of some sales of German
marks, particulars not reported.
At the close sterling was quoted at 1898 a
1915 for bill of lading and Al clear. and
l2434 Obs for bank; and francs at 4.6l 4 a
AGO for private, and 4.57l9 0456A for |
bank, and German marks at 267s.
The supply of domestic exchange was
less liberal, and yet rates continued to tend |
downward. The banks generally supplied |
the counter demand for checks on New |
York at IS " cent premium, but some ac-
,epted "a, and several amounts changed |
l. I -
count. The reported sales sum up $4,000, |
900 New York sight at 1872 1
p cent discount, 5000 bank at 1-16 dis
,Ount, Sl22, 600 $4,000 commercial and Sl0-
100, $j0,000 and $55, 900 bank at par, and
5000 at Is premium. We noticed an in
disposition on the part of the banks to re-
luce their counter rate below 3s premium,
N the ground that the present depression
las arisen from transient causes including
he increased supply from the recent heavy
movement in tobacco, and that an upward
eactiOn may be expected soon.
The stock market exhibited no improve
nent All the leading brokers complain of
xtreme dullness. The sales to-day EN-
raced IS shares CarEOlltOn railroad at
Il8 25: 10 Mutual National Bank at -; 50
tate National Bank at $lOl 50; -
'eople's Bank at Sol; - Citizens Bank
t $l34, and - New Orleans Mutual In
urance Association at =.
The bond market was without any ap-
aren't movement.
There was more inquiry for warrants, but
be only sale reported was $4,000 new State
t 62la.
In city appropriation certificates we no
ced sales of $1,000 $4,000 and $4,000 at
)lk, and $500 at II.
1t was stated that the payments by tax
ayers into the city treasury were much |
lore liberal than for some time past.