New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1872-05-09
Monetary--Commercial.
MONETARY.
OFFICE OF THR DAILY REPUBLICAN,
~ 49, -..-..-----. NJ o Io.l

OFFICE OF THR DAILY REPUBLICAN,
WEDNESDAY EVENING" May 3, 1872
The feeling in the money market to-day
was less easy, though there was no decided
pressure for accommodations The deposit
lines of the banks have run down some
what, decreasing their ability to discount
all the offerings, and more good paper has
consequently been thrown on the street.
Capitalists have in most instances enhanced
their asking rates, and business paper that
could have been placed readily at 10 " cent
o. annum, week or ten days ago, could
hardly be done now at less than IL. We
quote 900 ~ cent " annum for Al notes,
accompanied by unquestiOnable collaterals,
and l20l5 for second grade; IL 10 for Al
business paper, without cOllaterals, and
1905 for second grade. Mortgage notes
rule at about the same, say 900 W cent
y annum for AL, and OLE for second
class.
Gold opened at 1924 a ll3 against 11314
at New York;, and closed at II31s a 1I3ss
against ll4ls). The market was duh, and
rates, compared with New York, were still
lower. $1,000, $1,000 and $1,000 sold at
1924; $1,000 at 1929; $1,000, $4,000, $4,000
and $ll 900 at lI3; $1,000 and $500 at 1875;
$4,000 at lI3Is 113A, and $4,000 at 1874
Nothing of any moment was done in
silver. We repeat our previous quotations,
as follows: 1881 a l0915 for American half
dollars, and 41R05 " cent premium in
gold for Mexican dollars.
The offerings in foreign exchange were
limited, and the business in sterling was
confined to ETA, 900, at higher rates, the
market advancing y y cent on commercial
and a p cent on bank, in sympathy with
the improvement in gold. The sales in
cluded fll00 American ships bill, and $4,000
and 926O0 Al clear at l24; $4,000 bank at
at l24as; $4,000 at 12419, and $4,000 at I245s.
Nothing transpired in francs. We now
quote sterling at l240I 2414 for bill of
lading and clear, and I2434 a lbs for bank.
The market was poorly supplied with
domestic exchange, which continued firm.
New York sight was supplied by the banks
at, Is p cent premium, and there were
sales of $4,000 and $4,000 commercial
sight on New York at 3-l6 q cent pre-
MUM, and $4,000 and $4,000 bank at a.
We have no marked variation to report
in stocks. Preferred Levee shares were
dull and lower. The reported sales are
30 shares Sugarshed yesterday, not previ-
Ously mentiOned) at SIG so; 300 ordinary
Levee at 81 SO; 100 preferred do ($4 paid)
at 81 so; % TeutOnia National Bank at
Sl03; Is Citizens Bank at $I34; 10 Factors
and Traders Insurance Company at 1914 so;
80 Canal Bank at $l02 IS; Is New Orleans
National Banking Association at S34 25, and
90 do at $34 so.
The city bond market is at a standstill.
The few parties willing to buy offer prices
materially below the views of holders In
other descriptions we hear of nothing doing.
A round amount of old State warrants sold
at 20. The market for old warrants may be
quoted firm at that rate. Most holders ask
one to two points higher. A lot of $1456
small new State warrants were reported at
%, said to be an inside price. They are
quoted nominal at so IS for large, and 81
072 for small
Late, last evening, $4,000 city appropria-
ton certificates changed hands at ISL,
$1,000 at 1874, and $500 at &c.