New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-29
MOnetary--COmmerCial.
MONETARY.
oFM0E OF zee DAILY REPUBLIcIAlN

OFFICE OF THE DAILY REPUBLICAN, 3
TUESDAY ETRsIEG. Nav %, 1917 }
The money market presents no new fea-
ture. The demand for discounts continues
fair both in bank and on the street. In the
former all 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 c0llaterals OF
questionable solidity can not be placed with
out difficulty even at outside rates. The
range of the discount market may be quoted
at 90I0 y cent " annum for frstclass and
AL paper, with or without collaterals Hop
for less desirable names, but hardly to be
elassed as second grade; second grade at
the wide range of l20l5; first-class mort
gage at at ga 10, and secOnd-class do at 120
Is. Among the days negotiations we no.
ticed $4,000 AL commercial paper $4,000 and
$4,000 at 10 y cent: $4,000 first-class mort
gage at 9l5; $500, also frst-class, do at TO-
The sensation excited by the publication
of the Mayor relative to refunding of heen-
ses, with the two " cent tax proposed by the
Administrator of Accounts, has measurably
subsidized. The general views appears to be
that before the time arrives for definite ac-
ton on the subject, some means will be de-
yIsed of avoiding or lessening the evil,
either by carrying the payment through
term OF years, or settling the amount by
some compromise which will be acceptable
to the parties interested. AS for collecting
an additional two per cent in one year from
our tax-ridden people, it is everywhere re-
garded as utterly impracticable.
The gold market was hardly as active as
yesterday, when we gave the particulars of
Sl26,000. The market opened at ll31s a
1885, against 1884 at New York, and
closed at 1874 01l34e, against LA in that
market. This shows an advance Of Is in
the opening rate, and "a on last evenings
figures. The sales included $4,000 1880,
$4,000, $4,000 and $1,000 at 1875; $4,000
1925, 900, $4,000, $1,000 and $l000) at $1l3A;
81, 500 ($l2,500 and S5000) at 1885, and
$4,000 1.-TWO lots of $4,000 each) at l131A
In silver we noticed sales of $500 in
American half dollars $500 and $S00l at
1854 and $500 at 100. We continue to
quote American half-dollars at l080l09,
and Mexican dollars at 3ls 051B y cent
premium in gold
Sterling exchange was less active than
yesterday, when we reported EDS, 200, but
rates improved u y cent. The sales in
cluded $4,000 bill Of lading at 1885; $4,000
ninety days. at 1894; E450O Al clear at
i237s; $4,000 do $4,000 and E2000 at 124;
E15OO first class and $500 bank marginal
credit at 12414; EI800 bank at l25
At the close the market was quoted at
1879 a 1914 for bill of lading and Al clear,
and I2424 a lbs for bank.
The sales of francs included l00,0 direct
at 4624R.
Domestic exchange presented no mate
rial variation. The banks met only a mod
crate remittance demand for checks on
New York, which they supplied at the pre-
vious rate of % y cent premium. The
sales outside included $4,000 commercial
at BIO y cent premium; $4,000 do at 1882,
and $780, 900 bank at u. Yesterdays report
covered Sl55,000.
Gold checks on New York were held at
Yesterdays rates. A sale Of $4,000 was
made on New York for account of New Or
leans at ia
The stock market continued extremely
dull, and the only sale within our observa-
ton was "a shares Carrollton Railroad
Company at S1I8 so. Nothing was reported
in bonds.
The sales of warrants mostly included
$1,000 old State at II; $4,000 do at rs;
$500 new, fundable, at 20; $4,000 new at
581A, and $500 Metropolitan Police at 7Sls.
In city appropriation certificates we
noticed sales of $3S73 $4,000 and $2S73) at
7412, and $2578 (S578 and $4,000 at rs.