The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-04-17
MONETARY.
OFFICE NEW ORLEANS BULLETIN. |
Friday Evening, April Is. 1875.
MEM 0nI rANS Gle ARINa-HOIlSE.


The Money market exhibits no new features,
its general aspect being marked by perhaps
even more dnllness than has characterized it
for the past week. As will appear from the
details below, the transactions to-day, both at
the banks and on the streets, were of mode
rate amount.
Exchange exhibited little variation from
Yesterday 5 rates, and quotations of CONNER
cial paper were unchanged.
The Stock market was more quiet than for
several days past. 1t was field day at the
State House, and pending the critical period
Of the reorganization Of the lower House there
seemed to be almost general lull in opera
tions. The result was announced too late to
have any perceptible effect upon the market
The races. too, drew a number of business
men and brokers from their offices at an ear
lier hour than usual.
Limited transactions in State consols
showed no Improvement, while City Gold
Bearing Seven Per Cents fell off slightly:
is understood that the proposed bill for
the financial relief of the city, the draft Of
which was approved last night by the City
Council, and is now before the committees OF
the three commercial organizations to be con-
sidered tonight, contemplates, first, authority
to the CITY Council to sell, lease or hypothe-
cate the varions properties and franchises OF
exchange for obligations Of the city matured
and not matured. Second, the funding of the
| remaining bonds or obligations in tifty-year
bonds. bearing interest for the first year y
cent. for the second p cent, for the third
| 4 IL cent and thereafter + cent
| Taxation to be restricted to u cent as the
maximum. :,
We are also informed that the City Council
PROPOSES to reduce the next assessment about
20 IL cent, so that the maximum will be
p cent, nearly equivalent to l. = cent on the
present assessment. -,
Commercial Sterling was unchanged, while
bank ruled shade higher, and francs nearly
- cent lower. The movement in the form
or was moderate, the sales being confined to
s3l. 500 comprising e25O0 and $4,000 bill Of
lading at 5.57b, $1,000 do. and Al clear at
5575Gl5. 5Sa., $500 and e40OO Al clear, and
eli 900 bill of lading at 5 5S2l. e2O00 bank al
$780, and $500 do. sight at 5.64. The onlJ
sale reported in the latter was $4,000 com
mercial at 4. SO.
At the close Sterling bills we're quoted al
5.575M5 5S5 for bill of lading and AL clear
and -(a5 81 for bank, and francs at 4. 80.
(ay452A for commercial and 4.5oC-for bank
We continue to quote first-cIass sixty days
paper and collateral loans at SCJ9 y cent pei
annum; Al do at 10G12, and second grade al
|
96lO u cent per annum, while second grade
are entirely nominal.
Gold opened at lisa 115l. against ll5s a
New York, and after fair business closed a
the opening rates in both markets, touching
isl during the interim at New York
The sales summed up $4,000, enlbracin:
$4,000 and $1,000 at lis. $1,000. 5000 ane
$50. 600 at ISL, and $1,000 at 1l5i.
No sales of Silver We're reported. American
half dollars are still quoted at 10sC los!
while Mexican dollars :. continue to rule a
965M97 gold.
! The offerings Of Domestic Exchange were
y of fair extent, and with moderate demand
commercial was without qlotable variation
The sales of New York sight covered Slio,
600. embracing $4,000 private bankers Al
$40 p cent premium. $40 900 and $50, Oo
commercial and SIS 600. and SO 900 privat'
bankers at !, and $4,000 private bankers
9-32.
The banks checked on New York at {
cent premium, while commercial sight Wa
still quoted at /.
The movement in Stocks this week has beel
of fair extent, and has shown an advance
50 to $40 r share in some bank and lnsur
ance companies. The demand has beef
mostly for investment and holders are appar