New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-28
Monetary Commercial.
eFKICR or THB DAILY RBFf BLICAN. I
MONDAY BFENINe, Nay n. 1872. 5


MONDAY EyENIEe, Nay n, 1872
We have ne material change to notice il
the money market proper There Is IAN
demand for discounts, both in bank and OF
the street.. In the former, all the offerings
Of approved are readily accepted, but on
the latter. while Al notes or notes secured
by unquesti0nable collatterals are readily
negotiated, second class paper3 without col
laterals or with coliaterals of questionable
solidity. can not be placed without diff
Guilty, even at outside rates. The range OF
thediseount market may be quoted at ga 10
y cent " annum for frst-class and al
paper with OF without collaterals /; III ala
for less desirable names, but hardly to be
classed as second grade; second grade at
the wide range Of l20 l5s first-olass mort
gage at at 8 0l0, and second-class do at 100
is. Among the mortgage negotiations we
notice $4,000 good at 10 y cent.
The license-Tepealing matter was a gen
eral topic of remark in financial circles, and
the general opinion appeared to be that the
proposed two per cent tax would, if rashly
attempted, be total failure. The common
remark was that it would be impracticable,
and that no tinancier who understood the
real condition of the people would deem its
execution possible Thus it appeared TO be
regarded as a matter in which law and
equity would be compelled to defer to ne
legal opposition to the decision of the
courts, then some other mode of setrle-
ment should be adopted that would satisfy
the claimants and extend the payments
over several years.
The gold market exhibited fair degree
of animation, opening at lib Il3ls, against
1885 at New York, and closing at 1870
ll3lz, against the opening rate at New
York. The sales included $2l 900 rs 1000,
1nrr-.G Nl,+1 4 80
$4,000 $1,000, $780, $780, $1,000, SIS, 000
and $25, 0O0) at 1875, So, 900 $4,000, $4,000
and S15,000l at 1874 and $4,000 at 1885.
In silver we notice sales Of $500 in
American half-dollars at l0S2s $500 at 1882
and $1,000 st 100. We continue to quote
American half-dollars at 1857 1903, and Mex
lean dollars at 3lA 95lk49 cent. premium in
gold.
The movement in sterling was on less
liberal scale, but rates were without any
quOtable variation. The sales of sterling
included e6500 bill Of lading $4,000 and
635Q0) at 1885, 84700 (f3000 clear and
eI700 bill of lading) at 1888, $4,000 Al
clear at 1855 0124, 100000 $4,000 and
8j000l at 124, and e2000 bank at 12424.
At the close the market was quoted at
1885 0l24 for bill of lading and Al clear,
and l245s a i245s for bank. A email amount
of francs sold at Asia.
OOueSW0 exchange continued STEADY,
with only a moderate demand at about pre-
vious rates. The banks checked on New
York at g Y cent premium, but round
amounts were sold outside at "a The sales
$4,000 commercial at Is p cent
premium; SIS 600 do $4,000 and $l5,000)
ad3-I6 and $4,000 bank $4,000, $4,000
add. $7 ,000) at u.
There was great scarcity Of gold checks
on New York, which were sold at Is "a
premium.
The stock market was extremely dull
and We could not authenticate sale. The
same remark applies to bonds.
The sales of warrants included 5000, old,
at 1913, and 5000 90 at 731z
In city appropriation certificates we
noticed sales of $500 at "A, $1,000 at IS and
$1,000 at 7515.