New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-06-04
MONETARY AND COMMERCIAL
MONETARY.
NEW ORLEANS REPUBLICAN OFF
THURSDAY EVENING, June 5, 49,


THURSDAY EVENING. June s. 1873. s
| The demand for money continues good
| indicating an Improvement in general trade
| fair amount OF business was done at the
| banks. On the street the offerings were
omparatively fair, good commercial paper
! finding ready takers at unchanged rates
| As will appear from the reports below,
| there was limited movement in gold and
foreign and domestic exchange, the Two
former exhibiting slight advance. La Sc
| cuii,ies the market is generally dull. Stocks
| are inauimate. no transactions being re-
| ported. The fallipg [ II in the inquiry tor
| Investments is, in part, attributed to the
| demand for money for commercial pun
| poses No sales of city bonds are reported.
| The decline in rates OF some issues appears
| to have been checked. Although there are
no transactions upon which to base positive
quotations, we beard Of no offers to day
] at such low figures as some reported
| during the last Two days. The latter, as
| we remarked in cur last report, were priu-
| cipally of small amounts, round lots com
| handing higher rates There is little or no
demand, but the feeling is more settled
than yesterday. With respect to city
finances we notice thai the amount OF city
taxes paid in during the month of May is
in round numbers 1901 900 cash for taxes
of 1875, SAB 500 cash for taxes OF 1874 and
$3.50, 800 back taxes, mostly IN scrip, from
1860 to 1873, inclusive. These figures in
clude the payments made at the sherifs
Office.
In new State bonds also no sales are re-
ported. quotations being fully as low as
yesterday. With respect to these securities.
we learn that there is, abroad, some revival
of confidence, which had been shaken by
the supplemental funding bill. This renewal
Of confidence appears to have been pro
NOTED bv agents of foreign bOndhOlders an
pearing to be satisfied with the course of the
State officials in reference to the matter,
and their confidiDg in the disposition of the
latter to carry ont the policy of the original
funding act. We hear mention on the
streets of efforts to bgeak down the market
prices in order to admit of the execution of
some large orders at limits below the ruling
rates. of which, however. we have no direct
evidence.
The writ of error granted by Justice
Bradley of the United States Supreme
Court. in the case OF Macauley We. Clinton,
which involves the constitutionality of the
original landing act, was also the subject of
some discussion. 1t will be remembered
that the plaintiff attacked the validity OF
the act before both the State court and the
United States Circuit Court here, both
courts declining to review the constitutional
question, for reasons stated IN the several
decisions.
We notice that at the City Hall interest
coupons on the wharf bonds were paid On
the first instant, and coupons on the Water
works bonds were paid to-day.
We continue to quote first class sixty daV
paper and collateral loans at 6a 9 = cent =
annuIa, Al do at l0d IL, and eecoud grade
at 1913. First class mortgages still! rule
at 1910 y cent y anDUnl, while second
grade are entirely nominal.