The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-06-04
MONETARY.
OFFICE NEW ORLEANS BULLETIN,
Thursday Evening, June 3, 1876.
NEW ORLEANS CLEARINGHOUSE.

NEW ORLEANS CLEARINGHOUSE.
Ueanngs. Balances.
May 20. 9556Ol 10 $l62,386 70
May s1.... $50 sao o15 81 117, 9So Sc
June. l.............. l,O6O,u3 a 1l4,l9U II
June 3........ 977.173 Al 1O9,345 81
Thus far this week.. 7,7SO212 IA 64O,294 "a
Same time last week.. 5,342, 1876 80 65O, lt3 TT
Total last week. 6,28S.041 O5 737 ,S65 81
Total week BEFORE. 7,l99,4O2 % S96,093 IS
The demand for Money continues good,
indicating an improvement in general trade.
A fair amount of business was done at the
banks. On the street the offerings were COM
paratively fair, good commercial paper find
ing ready takers at unchanged rates.
As will appear from the reports below,
there was a limited movement in Gold and
Foreign and Domestic Exchange, the two
former exhibiting slight advance. In Securi-
ties the market is generally dull. Stocks are
inanimate, no transactions being reported.
The falling off in the inquiry for investments
is, in part, attributed to the demand for
money for commercial purposes. No sales of
City Bonds are reported. The decline in
rates of some issues appears to have been
checked. Although there are no transac-
tons upon which to base positive quotations,
we heard of no offers to-day at such low fig
ures as some reported during the last two
days.
The latter as we remarked in our last re-
port we're principally of small amounts,
round lots commanding higher rates. There
is little or no demand, but the feeling is more
settled than yesterday. With respect to city
finances we notice that the amount of city
taxes paid in during the month of May is in
round numbers S3Ol,9 $40, cash, for taxes of
1875; SAB 500, cash, for taxes Of 1874, and
eOSA hooE n,natlu GcrIn from
1860 to 1873, inclusive. These figures include
the payments made at the Sheriff s Office.
In New State Bonds elso no sales are re-
ported, quotations being fully as low as yes
terday. 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 promoted
by agents of foreign bondholders appearing
to be satisfied with the course of the State
officials in reference to the matter, and their
confding in the disposition Of the latter to
carry out the policy Of the original Funding
act. We hear mention on the street of efforts
to break 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 Brad
lev of the United States Supreme Court, in
the case of Macaulay VS.. Clinton, which in
wolves the constitutionality of the original
Funding act was also the subject of some dis
cussion. 1t will be remembered that the
plaintiff attacked the validity OF the act be-
fore both the State Court and the United
States Circuit Court here, both courts de-
clining to review the constitutional question,
for reasons stated in the several decisions.
We notice that the City Hall interest cou-
-, tbo rpborf hon1o vuoro maid IN the
lst inst, and coupons on the Water Works
bonds were paid to-day.
We continue to quote first class sixty days
paper and collateral loans at 500 u cent
per annum, AL do at 10@12, and second
grade at 1908. First class MORTGAGES still
rule at 9@10 7s cent Per annum, while second
grade are entirely nominal 80,
Gold opened at 1164@116a, against 1163 at
New York, and after fair business closed at
116s01l6s against 1862 at New York The
sales summed up $40, 900, embracing $4,000 at
ll6l, 10000 at 1853. $4,000 at 116sl91164,
and $1,000, 1000 and $4,000 at l163.
No sales Of Silver were reported. American
half dollars were still quoted at lOo@lO9,
and Mexican dollars at 96@964, gold.
In sympathy with the advance IN gold at
New York. sterling was fully l-lo q cent
HIGHER and francs over /. The sales OF
onlv Els. 500, embracing fl500 continental
bills at 5.631, e1OOO bill of ladine at 5 gag.
$4,000 do at S. 65, slO, 600 do at 5. 65@5.66 and
$1,000 bank at 5.675.
The sales of francs comprised 3OO, 0OO, en-.
bracing 100, 900 commercial at A. Bog, 2OO,UOo
do at ., and 10000 bank at 4.42a.
At the close Sterling bills wefe quoted at
s. 64165 659 for bill of lading and AL clear,
and 0@5 Is for bank, and francs at 70
AZ. and bank at -@444
The offerings of Domestic Exchange con-
timed limited. The demand was moderate
and rates were unchanged.
The sales of New York Sight covered
s1O0. OCO. embracing 10000 and $50, 600 prl-
waite bankers and $50. 600 bank at bio u
The banks continued to check on New
York at / ~ cent. premium, and CONNER
cial sight was still quoted at -@5-!6.
Stocks were inanimate.
S;tv Ronds were steadier, but nothing
IA n snired on which to base any quotations.
Stata bonds we're dull. We heard OF q
ronnd amount being offered at 513, but no
transactions we're reported. Yesterday, not
hefore reported, q small amount OF First
Wortoaoe Jackson Railroad Bonds were sold
City Scrip Of 1874 was in fair request for
navment Of licenses, and was quoted at
about 39l04O8. The only sale reported was
$4,000 at 394. ~. nit.
Warrants. They were quoted nominal ~
about 60.
M sales of State Warrants were reported.
Warrants of 1874 were quoted at 4I(gaa'
1a73 and previous years, fundable, at 37(a9So,
do. not fnndable, at 500, Legislative fer