The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-16


III will appear from the official staten emit
= of Associated Banks, published above, that
the decrease in deposits aad in currency con-
tinues, although that shown by the present
statement is very slight as compared with the
figures of last week.
large supply of money on hand, with q
: difficulty Of finding employment for it, is
Still feature of the situation. The fact that
deposits in the banks have exhibited de.
crease for the past two or three weeks is not
regarded as significant, as such falling off
usually takes place at this season of the year.
In other respects the market manifests no
decided change from last week. Money is
still in light demand. Prime commercial
paper is in fair request, but the supply is
scanty, and the offerings both at the banks
and on the street are limited, and the market
is without quotable change.
Factors notes and acceptances appear to be
,sparingly offered The usual summer bust
ness with the country has not yet developed.
although We have noted some indications
within the past week of an early opening of
this branch Of trade The Stock market has
been quiet throughout the week, closing to-
day, however, with better feeling. The Of
ferlngs have been light and the demand linn
tied, except for fAvorite shares but We note a
irmer tone in the latter, as compared with
-
City and State Bonds also continue quiet,
with limited transactions aSrates generally
unchanged. Metropolitan warrants have ad-
evanced from three to five points. Other secu-
rites exhibit no material change.
At the City Hall to-day, matured coupons Of
New City Currency Seven Per Cents were
promptly paid on presentation, in accordance
with the notice previously published We
are informed that the payments to-day
amounted to SOS, O00
We remarked few days since that the
.ques ion as to whether act No. Z, for the re-
lief of delinquent taxpayers from the payment
of penalties, in certain cases, is applicable to
81 city taxes, SO as to relieve delinquents Of in
eserest and penalties, upon payment of the
amount Of the tax, would be argued to-day,
upon rule against the sheriff. Upon hear
ing the argument to-day Judge Hawkins de-
~cided that the act does not apply to the pay
znent of city taxes. We are not distinctly in
formed as to whether an appeal will be made
upon the question.
The notice that Mr.. Pilsbury, Administra-
tor Of Finance, has fairly placed before the
public the Premium Bonded Fund Scheme,
proposed by Mr.. d. 81. Adler, for funding
aud exiting uishing the bonded debt of the
city, in pamphlet, containing Mr. Pilsbury 8
communication to the City Council, Mr.. Ad-
,Ier's plan, and eighteen extracts from the
comments of New York daily and weekly pa
pers in commentator of it, as it has been ap-
piled to raising funds for the Industrial Ex-
hibition Company of that city.
It is stated that this system of raising
money originated with the Rothschilds and
has been adopted by many European powers
and Turkey, as well as by numerous town in
corporations. 1t seems from the statements
given in the pamphlet to have been attended
with great favor abroad. With regard to our
own situation, Mr.. Pilsbury gives it his en-
,phatic approval, and aver, that it offers spe-
cial attraction to the bondholders enhancing
the value of his bonds and assuring their ulti-
mate redemption, while it presents to the
property holder the benefit of reduction of
per cent on tee taxes levied for the pay
ment of interest.
This measure thus formally proposed under
off ial sanction will no doubt receive serious
consideration from the bondholders as we'll
as the public, and probably elicit free COM
sments from both its advocates and oppo-
luents. We hope that the bondholders in par
ticular will be induced by the earnest appro-
val of so many leading financiers, to give it
not only careful but q favorable investiga-
ton.
We continue to quote frst-class sixty day s
paper and collateral loans at 500 y cent per
annum; Al do at 10@12, and second grade at
I5@1S. Frst-class mortgages still rule at
s39lO 9e cent per annum, while second grade
are entirely nominal.
Gold opened at 115a@116, against l16 al
New York, and after . moderate business,
closed at 115s(0115s, against 1855 in that
market, where it touched 116s duripg the
interim. The sales summed up $3S, 500. en-
bracipg $500 at 115aa, S28, 900 at 115s01l6
and $1,000 and $4,000 at 116.
No sales of Silver were reported. Am from
half dollars were still quoted at 1OS(91OSa,
and Mexican dollars at 96@964, gold.
Sterling Exchange was . shade lower for
commercial, owing to the decline in bills at
New York. The movement was of moderate
extent comprising s36, 500. embracing $4,000
bill of lading at 6ll, $4,000 do at 81, and
1000 do, $4,000 Al clear and $500 bill OF
fading and AL clear at 5 62a.
Francs were unchanged. The sales COM
prised 545, 900 commercial, embracing Is DOC
at4 Ash, 10000 at 4 4s@447l, and 10000 al
-A47s.
Al the close Sterling bills were quoted at
-5.6lJ@5.62t tor bill Of lading and AL clear,
and.@5.64i for bank, and frsocs ct g
4.47s for commercial and -9443l for bank.
The offerings of New York sight continue
light and the demand limited, while the rates
of commercial are shade sitter. The sales
comprised $3.50, 900, embracing $40, 600 com.
mercial, and O,OOO and $4,000 private
.bankers' at 5-16 p cent premium.
The banks continued to check on New
York at & - cent premium, while CONNER
cial sight was quoted at 5-16, against -(a15-1t
yesterday.
The sales of Stocks included lOO shares
State National Bank (part yesterday and par
to-day) at s74 so, 65 do at SIS, IA do at SIG
100 louisiana National Bank at -, and 2;
New Orleans City Railroad Company a
$142 as.
CITY Bonds were quiet and weak. The onl.
sale reported was $4,000 City Gold Bearing
Seven Per Cents at 81
We noticed sales of $4,000 New State ,S Con
solidatad Seven Per Cents at %! ana soOoo a
SIC, the market closing at about 5oat@oo.