The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-05-27
MONETARY.
OFFICE NEW ORLEANS BULLETIN, |
Wednesday Evening, May 26, 1876. I

Same time last week.. 4.J94UIf q of5,ULf 70
Total last week. Z, l99, 4O1 2o 6,O9o "
Total week before. 7,103,S92 81 1861 "a
The increased demand for Money which
was noticed at some of the banks in the early
part of the week, appears to have subsidized,
and the market to day was quiet almost to the
point Of dullness. The movement in Gold
was confined to few sales, at the same rates
as yesterday. In Foreign and Domestic Ex-
change also, the business was limited, the
latter ruling somewhat lower. The transac-
tions in stocks were chiefly confined to the
auction sales reported. State Bonds were
dull and lower.
No transactions are reported in City Bonds,
which continued quiet, and were quoted at a
slight decline.
The petition of certain holders of Old City
Consols, filed in the United States Circuit
Court to-day, attacks the act of the Legisla-
| ture abolishing the sinking fund, and claims
the restitution Of the fund and interest in
arrears. The plaintiffs also ask for an injunc-
ton restraining the city from paying, in any
manner, the bonds issued since January LIST,
| 1869, in violation of the contract with the
| holders Of the old bonds, and without the
consent of the qualified voters of the city,
and pray that payments Of such bonds be
postponed in favor of the claims Of the plain
| tiffs
The announcement that this petition had
been filed, did not appear to make any de-
cided impression upon the rates Of later
| issues, possibly owing to the fact that this
suit has been expected and discussed for some
| time.
We learn that the Commissioners of the
Consolidated Debt, to whom the City Council
referred the premium bonded fund plan, will
probably submit the measure to meeting OF
| bankers and fnanciers tomorrow night, and
propose to carry it into operation as soon as
practicable.
Metropolitan Police Warrants are quoted
| 5,De points HIGHER under the influence Of the
refusal of the Supreme Court to grant re-
| hearing in the case recently decided declaring
them receivable in payment for licenses due
the city 1t is reported that the Council con-
template making city timS certificates also re-
| ceivable in payment for licenses.
We continue to quote frst-cass sixty days
paper and collateral loans at 899 y cent per
annum; Al do at 1O@12, and second grade at
1908 First-class mortgages still rule at
| 9MlO 10 cent per annum, while second grade
are entirely nominal.
Gold continues to rule at 1155@116s,
against 116 at New York. The business was
limited, being confined to s29, 900. embracing
| $1,000 at 115a, $1,000 at 115ss, and $4,000, $4,000
and SO, 900 at 1l6.
No sales Of Silver were reported. American
half dollars were still quoted at 108@109,
and Mexican dollars at 96@963, gold.
Foreign Exchange was without quotable
variation. The only sales of Sterling reported
were $4,000 bill Of lsding at 1921, and els, 900
AL clear at 63.
At the close Sterling bills were quoted at
s. 62@5 63 for bill of lading and Al clear,
and -@5 65l for bank, and francs at 4.4S3@
4 Al for commercial, and $50 for bank.
New York Sight was in moderate request.
The offerings were of fair extent, with quota
tons a shade lower for commercial. The
sales comprised sos, 600. embracing So 600
commercial and $50, 900 private bankers at
9-32 59 cent premium, and SO, 900 CONNER
cial and S25. 900 and $4,000 private bankers
at 5-16 We also noticed sale OF LOCO
commercial on Providence at ] p cent pre-
MUM.
The banks continue to check on New York
at ( ~ cent premium. while commercial sight
was quoted at -@5.l6, against ZIG yester-
day.
In Stocks we noticed offers of S83 for full
paid Hibernia Insurance Co. shares and sales
Of Hbernia Bank at SIS. We notice the
| following sales at auction by Messrs Hoey q
| O'Connor, for account succession of High
McCloskey. 2l5 shares Claiborne Street Rail-
road Co. at SO; and for account succession
| Of Joseph W. Carroll SIS Factors and Traders
Insurance Co. at $82. Crescent Mutual In
surance Co. at S72 so, Sun Mutual Insur-
ance Co. at S7S so. l New Orleans Mutual
Insurance Co. at $50, 10 Mechanics and Agri-
cultural Fair Association at SO, New Orleans,
Jackson and Great Northern Railroad Co. at
| 81 so, AZ Memphis and Charleston Railroad
Co. at 50 SO, and $40 Louisiana Oil Co. and a
lot of scrip. stocks and bonds at Sc for the
lot.
CITY Bonds were dull aud dropping for
nearly all issues New Currency Seven Per
Cents were quoted about BOZ, and City Gold
Bearing Seven Per Cents about $40.
State Consolidated Seven Per Gents were
dull and lower The only transaction re-
ported was $4,000 at 55a.
We also noticed sales at the above men
toned auction of $500 Boston Club Bond at
$3.50. and 1859 IS Levee Bonds of the State
of Mississippi at $50.
City Scrip was unsettled and 1902 u cent
lower, nearly up to the close of the arket,
when ii became steadier under the impression
that it may be declared receivable for city
licenses as we'll as Metropolitan Police War
rants. No sales were reported worthy OF no.
tice.
Metropolitan Police Warrants were quoted
at RIO. against Go yesterday. owing to the
decision noted above. The only sale reported
uoS S1000 az n