The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-09
MONETARY.
OFFICE NEW ORLEANS BULLETIN, I
Tuesday Evening, June s, 1876. I
NEW ORLEANS CLEARINGHOUSE.

We have no material change to notice in the
Money market, which continues to manifest
q moderate degree Of activity, with good de-
mand for money and fair offerings for dis
counts both at the banks and on the street.
Stocks continue extremely dull The few
transactions reported indicate no material
change in quotations, and the market pre-
were less active to-day. The movement in
New State Consols and City Bonds was limit
ed and the market rather weaker.
City Scrip and Metropolitan Police War
rants are quoted rather lower. -...
With regard to city finances, the ordinance
for the lease Of the Water Works introduced
at the meeting of the Council to-day and re-
ferred to committee Of the whole, authorizes
an advertisement for sealed bids for the lease
of the Works and franchises for fifty years,
the lease to be paid in bonds or coupons
one million at the signing of the contract and
the balance in fifteen equal monthly install
ments.
The petition filed to-day by the Louisiana
State Lottery Company, under which tenn
porary injunction was granted, restraining
and enjoining the city Administration from
carrying out the Premium Bond Fund scheme,
or execute the ordinance adopted on the 1st
June, had not produced any noticeable effect
upon the market at the close. The petition
claims that the scheme authorizes q series CT
lotteries for fifty years and is in violation of
the act of the Legislature of 1872, granting
the petitioner the sole and exclusive right to
establish or authorize a lottery or series Of
lotteries in this State for the term Of twenty
five years from January LIST, 1869.
The general sentiment seems to be in favor
Of determining as promptly as possible what
ever doubts may be raised as to the legality Of
the measure.
We continue to quote frstclass sixty days
paper and collateral loans at 500 % cent per
annum, Al do at 1O@12, and second grade at
1908. First-class mortgages still rule at 90
10 % cent per annum, while second grade
are entirely nominal.
Gold opened at 116s@1165, against III at
New York, and, after limited business,
closed at the opening rates, against 1165 in
that market The sales were confined to
1163, and $4,000 and $4,000 at 116a.
No sales of Silver were reported. American
hall dollars were still quoted at 1064@1O9,
and Mexican dollars at -@96, gold.
Foreign Exchange was without quotable
variation. The sales of Sterling amount d to
el3, 900, comprising $1,000 and $4,000 Al
clear at SGT, $4,000 bill of ladiug at $500
67I, $4,000 do at 5.67I, and $4,000 bank at
s. TO-
The sales of francs comprised 415, 900,
go 600 commercial at 4 46l @4 45&,
$50, 900 do at f. 55s 15OOOO do at 4. 55s@45 IS,
and 25, 900 bank at 5 421.
I AT the close Sterling bills were quoted at
). $685. 81 for bill of lading and Al clear and
-@5 20 for bank, and francs -@445 for
and -@4 Ali for bank.
New York sight is quiet and in limited sup
ply and moderate demand at previous rates.
The sales were confined to $4,000, compris-
ing S25, 900 and $4,000 priv bankers and
$40, 600 bank at SIG y cent premium. We
also noticed sale of $4,000 commercial on
Providence at / fe cent premium.
Very little was done in Stocks, the only
reported being 10 shares Working |
mems Bank at -, and 25 Citizens Bank at
$40.
We noticed q lesss liberal movement in |
Bonds. City and New State were without
,uotable variation, but hardly as strong. The |
,ales included $4,000 City Seven Per Cent I'm |
at 3Ok, $4,000 do at =, $4,000 |
Jity Gold Bearing Seven Per Cents at 80. |
5000 do at 32i, $1,000 do at 323, and SIC, 600
New State Consolidated Seven Per Cents at
IA.
Nothing transpired in City Scrip. 1t was
IT'LL quoted at 39}@404.
No sales of Metropolitan Police Warrants
we're reported. They were still quoted nomi-
,al at -952.
No transactions were reportedin State War
ants. Warrants Of 1874 were quoted at 4O(g
Y, 1873 and previous years. fundable, at 36(9
q, and do, not fundable, at-@3O.