The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1874-12-02
MONETARY.
OFFICE NEW ORLEANS BULLETIN,
Tuesday Evening, Dec. l, 1874.
yE,y ORTEANS CLEARINGHOUSE.


At the meeting Of the Council to-day nothing
was done that had any immediate bearing on city
finances except the affirmation and re adoption
Of the resolution passed June 8, that under no
circumstances will any extension OF time be
granted Tor the payment OF taxes, and that taxes
for 1874 must be paid exclusively in cash.
This, it will be observed, does not effect the
receipt Of scrip, as per existing ordinances, IN
partial payment of back taxes. We learn that
the new Administrators are making strenu-
GUS efforts, not only to pay the interest on
the Wharf improvements and New Currency
Sevens, which matured to-day, but to make per-
manent provision for the prompt payments OF the
interest on the debt as it natures hereafter.
The Money market continues quiet and easy.
The offerings at the banks are OF moderate ex-
tent and when OF approved signatures are
readily accepted. Those on the street are Inn
tied, particularly Of first class, which are in de-
mand and easily done at our inside quotations:
We also notice more disposition on the part OF
lenders to negotiate other grades OF commercial
paper, but nothing has TRANSFERRED IN any class
that indicated a quOtable variation IN rates. we
continue to quote first class paper, with or with
out cola terais, at 90110 G cent per annum, Al do
at 1O912, and second grade at 15@lo First
class Mortgages continue to rule at lOWll u cent
| per annum. We hear of nothing doing IN second
| grade.
| York. and after a fair business, cd at the
opening rates, against liz in that market. The
| sales summed up s59 600, embracing $1,000 and
and $4,000 at 49,
No sales of Silver were reported. American
half dollars are still quoted at 1O7iW1OS, while
Mexican dollars now rule at 9Sg9S9, gold
| Under the influence of the decline in gold and
bills at New York, and the weakness in domes-
| tic exchange there, Sterling gave way about 2-io
d cent for commercial and l-lO T. cent Tor bank,
and closed at the decline. The sales amounted
to SIS, 500, comprising s15C0 and $4,000 bill OF
lading at 5 49, $4,000 do at $3.50, $4,000 do at
1881 $3.50, $4,000 and $4,000 do and Al clear
at 5.3S0539, fl5OO bill of lading, and $1,000 Al
clear at 5.39l, $4,000 Al clear at $40 and t2oCO
bank, at the counter, at D, Al.
| Francs were also materially higher. The sales
| comprised 355, 900 commercial embracing 100, 900
at 467a $780, 900 at 467i@4. C6l, and %, 900, 10000
and so 600 at 46G4.
@5.35t for bill Of lading and AL clear and q
5425 for bank and francs at 4.595 for commercial
and 1. 63l14.62a for bank.
The offerings Of Domestic Exchange were OF
fair extent, and was shade weaker, but without
quotable variation. The sales OF New York sight
covered 1925 00G, embracing 200 commercial
at GIG u cent discount, $1U 600, $4,000 S2O,00O,
S34 900 and $50 600 commercial, and Sl5,0OO pr.
vate bankers at !, and $4,000 commercial and
SIS, 900 commercial on Providence at &.
| The banks continue to check on New York at
IA! % cent discount, while commercial sight is
quoted weak at !.
In Stocks we noticed sales of 10 shares Hiber-
MIA Bank at S64, and - Canal Bank, OF which
the particulars were withheld.
We noticed a fair movement in City Gold Bear
ing Seven Per Cents at about per cent advance,
The sales and re-sales summed up to SIS, 900, en-
bracng $40 600 at 3SA, $4,000 and $1,000 at 3S4,
$4,000 and $4,000 at 49,, and $4,000 and $4,000
at 80.
Sales were also reported of City Six Per Cent
Consolidated, of which the particulars were with
held.
Nothing was reported in City Scrip.
! City Appropriation Certificates, Metropolitan
Police Warrants and Time Certificates OF 1873
were quoted nominal at 41@43
No sales Of State Warrants were reported. Old
were still quoted at 1870, and new at -942.