New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-05
Monetary Commercial.
MONETARY.
OFFICER OF TIKI DAILY REPI BLTCAN.
SATURDAY EVEH7Tgo MavA 1870

OFFICE OF TIKI DAILY RFPI BLTCAN, I
| SATURDAY BVENINs May 4, 1872.
The money market is quiet and easy fol
| all Al borrowers, but we notice that there
is more difficulty in obtaining loans on sec
Ond grade names or cOllaterals Lenders
| on the latter either ask higher rates or de
mand much wider margins. We quote
as street rates 500 y cent p annum fol
AL paper, with frst-class cOllaterals, and
l20- for second grade; I00I2 for AL bust
ness notes without cOllaterals, and I20-
for second grade. The ruling rates tol
mortgage paper are 90I0 o. cent y annum
for Al, and oil for second class.
Gold opened at 1925 a 1928 against 1l3 Il
at Newt York;, and closed at ll219 0ll224
against 1888. The sales included $1,000
$4,000, $4,000 and $l0,0 600 at 1925; 100000 at
1925 a 1929; $4,000 at 1929 $1,000 at 1928.
and $4,000 at 1l3.
We have nothing to report in silver.
Foreign exchange stitfened in agreement
with the improvement in gold, the market
closing with net advance of Is u cent in
commercial bills. The business in sterling
embraced 924 900, of which GI5OO bill of
lading at 1913; Gl500, $4,000, $4,000, $4,000 and
$4,000 AL clear and G5OO0AI bill of lading at
l23A; $500 ten days sight at I2324; Gl0O0
bank at 1914 and $4,000 at 1914
In francs l250OO and 10000 AL CONNER
cial sold at 4.6IA.
We now quote sterling at l230123A for
good to Al bill of lading and clear, and
1240- for bank. -'..--..
Domestic exchange was steady and I'M
changed, with only a moderate business
doing. The banks drew New York sight
for remittance at % y cent premium, and
there were sales of $50, 900 commercial sight
on New York at 1916 y cent premium
$4,000 bank and private bankers at 1850
81, and $2O,0OO bank at 1872.
There was rather more doing in stocks,
but still the market was dull Levee ruled
with further downward tendency, ordinary
dropping 25c v share below the inside
figures OF quotations of yesterday. Opera
lions included 60 shares feutOnia National
bank at $l02 so; IS Bank of America at
$3.50; IA Canal bank at $l02 IS; 81 Factors
and Traders Insurance Company at sos;
100 and 500 ordinary Louisiana Leveee at
81 IS; 100 do at 5 / 81 II; 300 do at S., and
500 do at So l245. At auction ii. B. Walton,
auctiOneer), 81 shares Canal Bank were
sold at 500, and 10 Burra Burra Mining
Company at 81. The latter is low rate,
due, probably, to the smallness of the lot.
During the past month, some 500 shares of
Burra Burra mining stock have sold in lots
at 50, all the particulars of which were sup
pressed at the time of sale.
The few private sales of bonds were sup
pressed, but by auction, Mr.. j. B. Walton,
auctiOneer, sold $4,000 railroad city bonds,
due May, 1874, May coupons of, at y;
$4,000 same, due 1875, July coupons on, at
1OR; $4,000 jackson railroad first mortgage
p cents, July coupons, at Ct $1,000 Jack
son railroad second mortgage construction,
April coupons of, at 84A; and IL Opelou-
sGs railroad 8 p cent $1,000 boEds reduced
to sos 48, October coupons assumed by
Charles Morgan at 1858 y bond.
Yesterday, not reported, $4,000 city APP
preparation certificates changed hands at
Il y.
We heard of nothing doing in State war
rants.