New Orleans Republican. [volume] (New Orleans, La) 1867-1878, 1875-07-28
MARKETS.

New YORK, July q, Evening. &C
tive and feverish. New York Central 1929;
Erie IA; Lake Shore 59 Illinois Central 81:
Pittsburg 81; Northwestern 1914, preferred
523.; Rock Island lO35s.
Sub.tressury balances-Gold $35, $50, ,OI8;
currency $56, ,8l2,29l.
The sub treasurer paid out S93, 900 on ac-
count of interest, and $34, 900 for bonds.
Customs receipts to day $4S2. 900.
The Posts financial article says the quiet
ness in Wall street was broken in the Sec
Ond hour of business by the announcement
that the banking house of Duncan, Sherman
e. Co. had closed their doors and suspended
payment. A clap of thunder in clear sky
could not have caused more cOnsternati
and at the Stock Exchange, Gold Exchange
and Cotton Exchange there was great ex-
citement. The liabilities of the house
are given at the inside at $4,000, 900,
and is is admitted that the assets fall
in value far below this amount. The
losses which have weakened the
house are not entirely of recent max
ing, but cover several years, the heav-
cotton and the next in securities, which
now have doubtful value. 1t is due to
William Bailey Duncan to say that had he
had the disposition to take the chances the
credit Of his house was sufficiently good to-
have enabled him to have got means neces-
sary to bridge it over. His bills on London
sold yesterday close on to those of four
he took an honorable course and stopped
while he had something to divide, refusing
new business. He endeav0red to get new
capital enough to pay every demand which
could possibly be made on him, but failing in
that wisely concluded to suspend. The
losses by the suspension will fall, as q rule,
where they can be easily borne, although
Ill
are outstanding. The Union Bank of Lon
don and Barring Brothers, the London cor
respondents OF the house, are of course able
to stand what they will lose. The Bank of
the State of New York, their home bankers
are, we are told, fully protected. The
house was favOrite one for the deposit
accounts of corporations, and they can also
stand their losses without embarrassment.
We do not know yet the amount of bills on
Europe which have been sold here and are
held by our merchants. This it is presumed
will be the heaviest part of tho loss or the
part felt most. 1t is not kno wn, nor is it.
supposed, that the house was carrying any
considerable amount of stocks. which have
close market.
1l2A, advanced by 1880 A. M. to 1884,
then suddenly jumped by eighths to 1853.
and as suddenly dropped to 1l4A, tha
price now. On gold loans tho rates have
been 1-64 per day and 600 v cent per ar
mum for use. Foreign exchange is mature
ally strong as many bills will have to be re-
placed. In the excitement and bewildet-
ment few transactions are reported. Money
is unchanged. Government bonds are IA al
v cent higher, but the market is fevepish
in sympathy with gold.
Cotton unsettled; middling upfands l4ase q
Orleans l4Ac. Sales 1885 bales. COnsOli-
dated net receipts $40; exports to Great
Britain AS; to France 636; to the Continents
1862; gross receipts to-day 245.
Futures closed firm; Gales 5000 bales, a.
follows: July 1873 al3 2932c; August
l3 15-l6c; October 13 ll.l6c; November
l3 @ 32c; December l3 ll-l6e; Jan 1ary l3N,
@ 013 1890; February IA f-l6 0l4bc; March
IA 7-320l4 ll-32c; April Ii 1882 q Ia 1890
May IA % 320A 25-32c; June Is l-I6c.
Flour dull and strongly in buyers favor !:
Southern flour heavy and lower; common
to fair extra 8 7506 so; for good to choice
extra Sc 550s 25. Wheat irregular and
unsettled; opening ga Sc lower, closing WITH
better demand about &c decline from
red Western; 81 4I0i ~ for amber do,
81 3S01 45 for white Western. Rye quiet
and nominal; 81 IA for State. Barley more
active; barley malt quiet and unchanged.
Corn heavy and lower; moderate expors
ouO uuu0 tThQ0 ucm8uu 8t O0 q
cline; S2084c for steam Western mixed
latter choice; 84085c for sail do :
85Ac for yellow Western. Oats heavy
and decidedly lower; 5806Oc for mixed
Western; 6l067c for white do. Sugar
quiet and easier; l5- l6c for fair TO good rs.
timing; 6As 08 7-l6c for prime: nothing OF
moment doing; refined quiet and firm.
Coffee-Rio firm: No advance: l7h 600
iQoSzUv11 On 1oVl|T IAa1l