The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-07-01
MONETARY.
OFFICE NEW ORLEANS BULLETIN, !
Wednesday Evening, June 81, 1875.

We have no change to notice in the Money
market Only one or two of the banks re-
ported fair offerings, and on the street COM
mercial paper was in good demand and very
light supply. In stocks, nothing of any mo-
ment was reported, but we noticed during
the morning some inquiry for Carrollton Rail-
road Company and Louisiana State Lottery
shares. A few sales of new State Consols
were made at lower rates. City Bonds were
10 wer and unsettled, being depressed by the
resolution introduced into the City Council
yesterday by the Administrator of Finance,
looking to the application of funds collected
for the payment of interest, to the immediate
expenses Of the city government
1t is q bold proposition and forcibly ex-
hibits the deplorable condition of city affairs.
The measure, which was referred to the Com
mittee of the Whole, was generally discussed
upon the street to-day, some opposing such
diversion of funds as absolutely illegal, while
others claimed that it was inevitable as the
actually necessary for carrying on the city
government until collections Of taxes can be
made.
Yesterday, we omitted to notice that the
New Orleans National Bank had declared a
semi-annual dividend Of 5 7p cent, payable
on and after July LIST to those who have paid
the assessment called for June 9th, 1874.
To-day the Louisiana National Bank de-
clared a ssmi-annual dividend Of 79 cent,
payable on demand in this city, and on the
18th proximo at the banking. house of Messrs.
The Carrollton Railroad semi-annual divi-
dend of 5 fp cent, payable on and after the
goth Of July, and the Union Bank semi-an-
nual dividend of 79 cent. The Louisiana
Savings Bank and Safe Deposit Company is
now paying its semi-annual interest to deposit
tors.
We continue to quote first class sixty day
paper and collateral loans at sos p cent
per annum, AL do. at 1O@12, and second
grade at 15@18. First-class mortgages still
rule at 9@10 u cent per annum, while second
grade are entirely nominal.
Gold opened at 117s@l17s, against 1174 at
New York, and after a limited business
closed at 117@1171, against III in that mar
ket. The sales summed up $11. 900 at III,
$4,000 at 1l7g, and $1,000 and $4,000 at 1174.
No sales OF Silver were reported. American
half dollars were still quoted at 109@1094,
Mexican dollars under New York advices
ruled at 93@934-1 5e cent lower than yester-
day.
In sympathy with the decline in gold at
New York, sterling fell off lilo 59 cent, and
francs ). There was scarcely any movement
in either. The sales of sterling were con-
uueu W SloooAiclohl ae d. auu 1oUu Dill Vi
lading at 5. 684.
The only sales of francs reported were
10000 and $4,000 commercial at As and
40, 900 at 43a.
At the close sterling bills were quoted at
5. 67R@5 6S4 for bill Of lading and Al clear,
and -95.72 for bank and francs at 4. As
@443a for commercial and -@440 for
bank.
The offerings of New York sight continue
limited, while the demand is moderate, and
rates are unchanged. The sales comprised
$25, 900 private bankers at 9-32 59 cent pre-
MUM, and $4,000 and $40, 900 do at SIG
The banks continued to check on New
York at 3 % cent premium, and commercial
sight was still quoted at -@5-16.
In Stocks we noticed more inquiry for
Louisiana Lottery Company and Carrollton
Railroad shares. For dividends see remarks
above.
Under the influence of the action of the
City Council yesterday, City Currency Seven
Per Gents were quoted at -@34 and City
Gold Bearing Seven Per Cents at -935,
both fully 79 cent lower, but we're reported
stronger at the close. No transactions were
reported.
New State Consolidated Sevens were quo
ted at so, or ! 10 cent lower than yesterday.
The sales included $4,000, $4,000 and $40, 900
at so.
City Scrip was dull and nominal at 5000
Metropolitan Police Warrants were in
better request, and were held at 623 @65.
No sales were reported.
No sales of State Warrants were reported
Issues of 1874 are still quoted at 40(942;
1873 and previous years, fundable, at 36(937,
and do, not fundable, at -(930.