The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-05-05
MONETARY.
NEW ORLEANS BULLETIN OFFICE,
MONDAY EVENING, May 4. 1874.
NEW ORLEANS CLEANING HOUSE.

We hear reiterated complaints Of extreme dullnes
In every department of the Money market. We ais
notice more capital seeking inv stment in frst-cas
paper and unexceptionable securities, while othe
graues neglected.
The banks are absorbing all short business paper
the offerings of which are quite limited. On the
street only hrstclass signatures in request H.!
lenders, and the description continues scarce.
Loans on approved collaterals generally cone a
inside quotations. and in some instances at less
We also notice that the rates for AL and secondclas
also easier We quote first class paper, with
or without collaterals at 9@10 p cent discount pei
annum: AL at 1l1l2 per annum, and second grade a.
14@2 p cent per month.
Occasional transactions are reported in irstclass
mortgages at 10 p cent. per annum; but nothing has
transpired in second grade.
At the election to-day, Messrs. E. c. Palmer David
Wallace W II. Thomas, H. J. Mullan, Jno - Walton
W. H. Holcomb and Henry Otis, were chosen directors
o. the louisiana Savings Bank and Safe Deposit Com
pany.
The following were elected directors of the Ammo
mia and Thermo Specific Propelling Company: Messrs
G. L. LOughland L. B. Ca n. John Egli, q. T. Beaure
gard, Leon Godchaux, c. Mil audon II. A Frederic,
tdm. Burthe, Alex. Bonnev l. T. B. Wheeock, J. Ferd
Kraemer, c. A. Conrad j. Frederickson, X. W. Ogden
and Z. Salowrin.
Under the amen ments to the constitution adopted
by the stockholders the nam has been changed to
J." Lamm's Firel. IS Engine Company and the nun.
Der directors has been reduced to nine Transfers
of stock to be made the books of the Company
instead of the back of the certificates heretofore
We learn that the cas- # the company have been in
troduced in New York aud Chicago to be in St.
Louis and kio de JanierO.
Gold opened at 1l216@1125s. against 1l23{ at New
York. and after liberal business closed at l12@ l12
against l12 4 in that market The les sum,ne up
S7S.OOO embracing 500 at 1l2 $4,000 aud 5000
at 112, $4,000 at 1928, s1,GO0 1123s@l12, $27,-
600 at 1l2la and $1,000 at 1925.
Nothing transpired in Silver American half dol
lars are still quoted at 1O7a@1S1 and Mexican dol
lars at IlO@1 L.
Under the influence of the decline in gold and an
extremely dull market Sterling Exchange gave way
fully 4l0 The sales were confined to flO 900,
comprising f25oo bill of lading at 5.42a, f4O0 do.
and $4,000 Al clear at 43, and $500 bill OF ladng at
5441s
Francs were without any apparent movement and
no sales worthy Of notice were reported.
At the close Sterling bills were quoted at 5.42H@
543 for bill of ladng and AL clear. and 5470- for
bank and francs at 65@4.6314 for private. and
nominal for bank.
The offerings of Domestic Exchange were Of liberal
reasonably so, considering the limited move
ment in cotton and light offerings Of foreign bills
and rates were without quotable variation. The
ales of New York sight covered $780, 900, embracing
SIS 600 and $50 900 commercial at a p cent discount
$4,000 commercial and $30,OOO private bankers at
1872, $4,000 commercial $4,000 and $4,000 privat
and $4,000 commercial $4,000 private bankers and
$4,000 private bankers at 4, and $40, 90 CONNER
cal and $40 ,OOO bank at 9-32.
The banks continued to check on New York at rar.
but commercial sight was still quoted at 1@5-16 p
cent discount
No sales of Stocks we're reported
City Gold Bearing Seven Per Cents were in demand
higher but the only sales reported $4,000 at
SIX and $5J at 52A. The market opened at 511z
and closed at O. AL rye order was on the market.
but did not hear of its being filed No other sales
Of ponds wee reported.
The sales of Cy Appropriation Certificates included
s. 90 at 621z. which was about the closing rate.
Nothing trsnspred in Metropolitan Police Warrants,
which were also quoted at about 621..
1t was rumored the street that some parties
template applying for injunction to restrain the
city from receiving city scrip In payment of taxes
under the ornsnc. passed by the City Council April
H. the application being based technical OBJ
ections in the law relating to Metropolitan Police
mall sales for the payment of taxes. Large are
quoted at about 40@n, medium at 1904 aud small
It 45@5O