New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1873-10-07
Monetary--Commerciai.
MONETARY.
OFFICE OF THE DAILY REPUBLICAN.
MONDAY EyEyYyG Ocfohar & lx-2

MONETARY.
OFFICE OF THE DAILY REPUBLICAN,
MONDAY EVENING. October g. 1873.
Financial affairs were calmer to-day than could
have been expected. The suspension Of the New Or
leans National Banking Association seemed to have
had little Or effect ether banking institutions
although an attempt was made to discriminate be-
tween the certified checks of he different banks
This classifying of checks had a mischevou. eff
/ feet and excited vague feelings of dstrust when
none should exist. The entire community is di.
rtclly or indirectly interested not only III check
ing any tendency to panicky feeling among small
depositors, but i'll streng hening coniednce in the
DauAs ana preventing any unnecessary pres -ure
npon rhem 1t is ouly. by giving then liberal sup
port that depositOrs Dan expect reciprocal iavois
IN the resumption Of their usual business.
Such uDiustitable Determinations caused some
uneasness today in CERTAIN quarters ard melted
run on one OF most solid ns til utions, to
which IL had ample resources
There appears to be more probability that the
New Orleans National Banking Association will
| quietly go unto liquidation under the d .Iection OF
Its present officers In fact. nothing has yet &C.
eurI. to require the iute position OF the Control
Ter OF the CurreI cy The committee to c"nfer with
to have started for Washington this afternoon.
We also learn that d-ededly encouraging t.le-
grams have been received by Mr.. Cavaroc from his
Earopcan CORES pondents, urging him 10 go On and
evmcng unaoated cOnfidei &c. Considering his
ampies rpus. il is not unreasonable 10 anticipate
that his suspension WI be only temporary.
The banks still coiiiine their business mostly TO
renewals On thc street the dsInand for money
continued trong but ftsultod i'll very little move
class paper at 2q24 t. cent y month Rates for
other grades continued entirely Ionira. First
class mortgage paper is quoted at 10 = cent T. AL
num- and secoLd grade at H.
NEW ORLEANS CLEARING HOUSE.
Clsanngs. BALANCED
october %...s......s... = ,039.s3 10 tiW.tIh 10
OeIuber 6.............. 1888 O95 8J Ii8 700 81
Thu. far this week. So ,G12,8i9 81 S2i34li 20
Same time last week. 39l 2B1 y 30882 80
Tota, last week...... 400 635 T! ~ ,552 50
~ Wenk ntf fore z
Gold opened and closed entirely nominal; and
the only transaction reported = 1900 at 1923 in
certified checks The market at New York opened
and closed at ITO. touching at l0s durin. til" in
term.
Silver continued entirely nominal. and sales |
were reported.
Sterling exchange contirv'sd nominal. buf reGn. |
tiations tfcct.d of $1,000. embracing 4 1000 |
Al clear at il6a4. s 1900 at MA, 42UG0 do at
III: and $500 AID s 1000 do al 49, We must still
Iurbtar from giving regu ar quotations.
Nothing TRANSFERRED i'll francs.
Domestic exchange was again quite unsettled
Some banks refused 10 check on New York. one
drew al 4 y cent premium, while others supplied
{ he demand at |. Private sigh continued entirely
nominal. The sales cOmprs. d 5 Is 900 comrn+f |
at 4 p cent premium 5 10. 600 do Al l. $4,000 on |
at 4 and $1,000 Now J 1rk sixty days. |
sight at az y cent discount.
Nothing tram pired To serve as basis for the I
the quotation of auv class of SECURITIES: The mar |
k.t continued too unset tiled to give even nominal
fsurea.