New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-11
Monetary--Commercial.
MONETARY.
OFFICE OF TIKI DAILY REPUBLICAN,
Eprnaw Rv~--r--o ~ IN 1879

OFFICE OF THB DAILY REPUBLICAN,
FRIDAY EvHEIEe. May 10, 1872. }
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 athigber
rates. We quote 900 p cent y an
mum for AL notes, accompanied by unques-
tiOnable cOllaUerals, and I20l5 for second
grade; 1l0l2 for AL business paper, with
out collaterals, and l3015 for second grade.
Mortgage notes rule at about the same, say
90l0 y cent p annum for Al, and -0l2
for second class.
Gold opened at 1874 01l3lR against IA
at New York; J, and closed, after moderate
ly fair business, at 1872 a ll3& against
Il43s q Il412). The demand was fair, but
there were few BUYERS of round sums on
speculation, the bulk of the movement be-
ing made up of amounts of from $1,000 to
to $4,000. The sales included $1,000 and
$1,000 at 1874; $500. $4,000, $780, $4,000,
$4,000 and $4,000 at 1898; $4,000 az 1888 a
1914; $1,000, S3000 $4,000, $4,000, $4,000 and
Sl3.500 at 1872; $1,000 and $4,000 at Il3A,
and $4,000 at 1879.
Nothing was done in silver. Negotiations
were pending for the sale of lot of about
$1,000 in American halves at 1922, but we
did not learn of its having been sold by the
close. We repeat our previous quotations,
say l081h a 1922 for American half dollars,
and 41b05 y cent premium in gold for
Mexican dollars.
Foreign exchange was more active, and,
with an improvement in gold rates, ad-
vanced "A a y 2 cent. The sales of sterling
embraced G37 900, of which $4,000 bill OF
Iading at 1914: $1,000 clear at l24 a l24A; f600
and $4,000 at I24A; E6O0 and fl500 at l243s;
E35O0 at I241b. Ell 900 AL bill OF lading
and clear at l241R a 1247s; $4,000 bank at l25,
and $4,000 at 1851.
In francs the only sale reported is $500
AL commercial at 4.57lR.
We now quote sterling at l24A a l24& for
good to Al bill of lading and clear, and
1854 a I25l9 for bank.
Domestic exchange was in light supply,
and rates for round sums were tirmer. The
bank remittance rate, however, was I'M
changed, the remittance rate being supplied
at 81 ~ cent premium for New York sight.
Operations included $4,000 commercial
New York sight at 1924 premium;
$4,000 private bankers, $50, 600 bank and
10000 bank and private bankers at a.
There was more doing in the stock mar
ket, the reported sales including 80 shares
Sterns Fertilizing Company at $lO4; 10
Louisiana Savings and Safe Deposit Com
panv at $S7 25; 4 do at $87 50; 10 jefferson
City Gas Company at $57 so; 40 New Or
leans Gaslight Company at $l5l; 90 New
Orleans National Banking Association at
$34 so; 300 Ammonia 'PrOpelling Company
at $14 so; 100 and $50 ordinary Louisiana
Levee at 81 6215. 500 preferred do ($4
paid at 81 so; 300 do at 81 6245. We have
also reports of 500 preferred Louisiana
Levee ($4 so paid) at 81 81 II. and 200 same
at 81 so, both of which, compared with the
prices paid for 81 paid stock, appears to be
a low figure.
There was no apparent movement in
bonds or warrants. (FOr quotations see
list appended.)
Early yesterday sale of $4,000 city appro-
priation certificates previously withheld)
was made at 75lz, and to-day one of $500 at
"A, which was resOld at 741R.
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