The New Orleans bulletin. [volume] (New Orleans [La.]) 1874-1876, 1875-02-12
THE NEW ORLEANS BULLETIN, FRIDAY, FEBRUARY H. 1876

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the unsettled condition of the London and
Continental money markets, and United
States securities have, from this cause, been
steadily flowing home for several months
past. The amounts of bonds thus returned
must have been very large. The refux is by
no means at its height just now, and yet, last
week, one lot of new fives Of 500, 900
was received and the week previous one
parcel of 100000 of the same class of
bonds arrived. Besides this class of securi-
ties some considerable amounts of railroad
bonds have been returned from Germany
This ret1ux Of investments has kept exchange
high at the time when rates are usually the
lowest, and we have had to send out possibly
| S25, 900, 600 more Of gold than we otherwise
should to pay for securities which We had
regarded as having found o permanent rest
| ing place In other countries.
such movement would hardly have been
deemed possible In anticipation; and its &C.
cufrence opens our eyes to new source of
uncertainty in the exchanges. At present, we
see no symptoms of its early cessation. The
enormous issues of obligations made by
france have caused q continuous shifting of
securities ever since. The European invest
ment markets have been and still are unset
tied, and possibly also are overcrowded with
issues in the hands of negotiators and seeking
final resting place among investors. And
yet the coinage operations of Germany and
the singular accumulation Of specie in the
Bank OF France iare causing an unsettled
feeling in the great money markets which is
calculated to force securities on the markets.
just now Paris is negotiating a loan of $780,
OOO,OOO, the making room for which is likely
to cause some other investments to be parted
with. So long, therefore, as the market rate
for money continues here 1@2 per cent above
the quotations in the Eupoean markets. il
would seem that we must stand exposed to
this return of securities. The prospect is not
welcome one, for it implies a further outflow
OF specie, with consequent fluctuations in the
gold premium and in values generally, which
are anything but wholesome in their effects
on business.
A RI markabIe Bank Exhibit.
The following showing of the business and
condition of the London and Westminster
Bank, which we find in the London Daily
Neaos of the 21st Of January, is worthy of ex-
animation. Ut will be seen that in England,
where money is SO abundant, large dividends
are declared by banking institutions that are
judiciously and literally managed. The above
mentioned bank has declared dividend to
the shareholders of II per cent. for the half
year upon the paidup capital of e2,0Oo,ooo.
The following is the statement
LONDON AND WESTMINSTER BANK.
The annual meeting of the proprietors was
held yesterday at the bank, Lothbury; Mr.. D.
P. Sellar in the chair
The report and accounts, which were read
by the Secretary. Mr.. T. P. Ship, were as
follows: "The directors report that, after pro-
viding for all bad and doubtful debts, paying |
the income tax, and setting apart, as usual,
900, together with further sum of flO,-
600. toward the Improvements Of the buildings
Of the bank, the net profits for the last half |
year amount to e19S, 64S 81 i'd. The rest or
surplus fund with this sum added) will then |
amount to 81, 234, 1888 lis Sd. The directors
out Of this fund now declare dividend to the |
of II per cent for the half-year
upon the paid-up capital Of 92,OOO0OO. The
rest or surplus fund after these deductions
will be el.O14, 79S lis Sd.
LONDON AND WESTMINSTER BANK 3lsr DECEMBER,
1874.
To proprietors for paid up capital So 600 oCO |
To aInt unit due by the bank on depos-
its. circular notes, and other moneys
payable on demand, including rebate
on bills discounted not yet due 80 O15 1914 II
To rest or surplus fund,
3Oth June. 1874 49, 81 DAG, $50 IL
To net profits of past
half year. 1s9 G45 9 !
Together ACKNOWLEDGEMENTS. l 234, 796 II 3 |
G33, 249,993 & 3
This amount does not include acceptances
tl,03s, 125 Us Id.
CIR.
By Government Stock and Exchequer
Bills f3, 29e s51 II I
By securities guaranteed by the Gov.
eminent Of India -.--...--....... 200 900 0
By bills discounted, loans and other
securities %, 3s9 75i Is
By cash in hand and at Bank of En-
gland 1861, 1877 l 0
s33, 2i9, 1893 8